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The Korea Herald

Markets

September 15, 2022
LG, Parsons come together for AI-generated design projects

LG Corp. and Parsons School of Design will collaborate to combine contemporary art and design practices with artificial intelligence technology, LG's tech arm LG AI Research said Tuesday. LG AI Research, which runs a hyperscale AI platform called Exaone, will carry out joint research projects for ...
September 15, 2022
Relocation to Busan underway: KDB chief

Despite in-house resistance, preparations to relocate the state-run Korea Development Bank to Busan from Seoul are underway, the policy lender’s chief said Wednesday, saying that he would work to persuade employees. “As the man in charge, I do feel for my employees facing potentially a difficult...
January 10, 2022
[Market Eye] Samsung-Hyundai auto chip alliance? It's more complicated than you think

Sitting on a cockpit mockup, Chung was briefed with Samsung CEO Han Jong-hee on its future infotainment system. “It is not an exaggeration that Samsung has really completed the full package to make an EV with the Harman acquisition, but Harman’s R&D for new products is not showing the expected l...
January 10, 2022
[CES 2022] Hyundai Motor aims for chip self-reliance in long run

LAS VEGAS -- Seeking control of its own destiny, Hyundai Motor is making efforts to be self-reliant in automotive chips, its US chief told reporters at CES 2022 on Thursday. “Definitely, as one of the big OEMs, we cannot be dependent on external factors to try to have control of your own destiny,...
January 10, 2022
[CES 2022] Hyundai Mobis to focus on enhancing software power

LAS VEGAS -- Software development is no longer a priority for only IT companies, but also for carmakers. “The car industry itself is transitioning from being manufacturing-based to digital-based, meaning that software is becoming important than ever. Hyundai Mobis is trying to combine the mechani...
November 01, 2021
Taxation of 70-80 global firms may be possible under new global tax scheme: minister

South Korea may be able to collect taxes from 70-80 global firms that have earned profits in Asia's fourth-largest economy under a new landmark global tax scheme, the country's finance minister has said. Finance Minister Hong Nam-ki made the remarks Saturday in Rome as the leaders of the Group of ...
July 13, 2021
Overseas cryptocurrency exchanges using Korean currency must register with anti-money laundering body: regulator

Cryptocurrency exchanges that are based outside South Korea must register with the nation's anti-money laundering body if they use the Korean currency, a top financial regulator said Tuesday. Financial Services Commission Chairman Eun Sung-soo made the remarks when asked by a lawmaker whether Bina...
July 01, 2021
KIC vows to increase alternative exposure to 21% by 2024

Korea Investment Corp., South Korea‘s sole sovereign wealth fund, pledged to increase its exposure to alternative assets to 21 percent by 2024, from 16.1 percent as of May 2021, its Chief Executive Officer Jin Seung-ho told reporters Thursday. The institutional investor, managing $183.1 billion i...
June 28, 2021
Hyundai Capital hopes to go beyond green car financing

The company said in addition to the size and diversity in green bonds, it has also ramped up its efforts to prevent a ESG bond issuer’s misuse of green bonds to ‘greenwash’ its image. Hyundai Capital said it has set up a Sustainability Financing Framework, which has been certified by DNV-GL, a g...
June 09, 2021
S. Korea’s per capita income shrinks for 2nd year in a row

Per capita income in South Korea declined for the second year running in 2020, as the COVID-19 pandemic dragged the economy down to its lowest point since the 1997-1998 Asian financial crisis, data showed June 9. Per capita annual income, as measured in US dollars, shrank last year to $31,881, dow...
June 03, 2021
20 arrested in massive land speculation probe, including senior officials

Some 2,800 people suspected of having purchased land for speculation purposes, including some high-profile government officials, have come under investigation since the government launched a joint probe in March to root out illicit activities in the real estate market. Many now face criminal charg...
June 01, 2021
Rate hike inevitable in H2 under current pace of recovery: think tank

South Korea’s central bank should raise its benchmark interest rate in the second half of the year, given the faster-than-expected pace of the economic recovery, a think tank here said. “If the Bank of Korea decides to carry out a belated rate hike, then the economy could see a bigger shock st...
May 27, 2021
Hyundai Card says won’t buy Citi Card

Hyundai Card has decided it would not acquire the credit card business unit of Citibank Korea, which has been up for sale following its parent company’s reorganization plans in Asia, the company said May 27. ”We have initially reviewed the case but concluded not to proceed acquisition (of Cit...
May 27, 2021
Authorities to discuss green finance during P4G Seoul Summit

South Korea’s top financial regulator said Thursday that it will host a special session ahead of the upcoming P4G Seoul Summit to discuss the finance industry’s role in the global fight against climate change. The event, “Role of Finance in Post COVID-19 Green Recovery,” will be convened vir...
May 27, 2021
Central bank says leveraged crypto trading threatens banking system

Leveraged cryptocurrency trading by individuals in South Korea threatens the nation’s financial system, Bank of Korea Gov. Lee Ju-yeol said on May 27. Given the price volatility of virtual assets, increased trading in such assets leaves Korea’s financial system subject to instability, Lee said...

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