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The Korea Herald

Markets

February 06, 2023
Hyundai gains momentum with high-performance cars

With the automotive industry underscoring technology as a key driver of growth, high-performance brands under leading car manufacturers are becoming the testbed to enhance their car models’ driving features, ranging from speed to durability. Hyundai Motor Group, South Korea's No. 1 carmaker, is a...
January 10, 2023
BOK likely to continue rate hikes

With the Bank of Korea set to hold the first rate-setting meeting of the year Friday, the market is expecting it to raise the base interest rate 25 basis points to 3.5 percent. In the latest Monetary Policy Committee meeting held in November, the Bank of Korea raised its benchmark interest rate by...
December 20, 2022
[Feature] Unstaffed stores with ever-changing prices offer glimpse of future

The store utilizes price indicators that harness visible light communication to set products to the lowest possible cost. The price indicators in the shop communicate with the lights in the store to receive codified data each hour regarding the changed prices -- as the store's lights receive data ...
September 30, 2022
KEF holds annual meeting with Chinese ambassador

The Korea Enterprises Federation held a meeting with Chinese Ambassador to Korea Xing Haiming at a Seoul hotel on Thursday to discuss ways to further bolster economic ties between the two countries. KEF Chairman Sohn Kyung-shik and other business leaders representing major companies, including Han...
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...

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