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The Korea Herald

Markets

October 26, 2023
Woori Bank accelerates overseas expansion

Woori Bank, one of South Korea’s top four commercial banks, has announced its plan to achieve up to 25 percent of its net profit from global sales by 2030. “Woori Bank's global division reported a net profit of $340 million last year, and it has achieved an average annual asset growth of 9 perce...
October 26, 2023
Celltrion chief calls merger crucial to beat bigger rivals

Pooling resources together is the best way to survive in the cutthroat competition against global pharmaceutical companies with gigantic capital, biopharma Celltrion founder and Chairman Seo Jung-jin said on Wednesday of the firm's merger with its sales affiliate Celltrion Healthcare. “The integr...
October 26, 2023
SK Pharmteco bets big on cell, gene therapy

BARCELONA, Spain -- SK Pharmteco, SK Inc.’s contract bio-manufacturing subsidiary, said the company’s burgeoning cell and gene therapy (CGT) business will become its new growth engine. “We continue to expand our CGT business, and the capacity we are building over the next years will allow us to...
October 26, 2023
Prestige Biopharma eyes complete value chain

BARCELONA, Spain – Prestige Biopharma, a Kospi-listed biopharmaceutical firm based in Singapore, said Tuesday it is seeking to complete its value chain of new drug development with its upcoming research center in Busan. “Prestige Biopharma’s research and development of antibody drugs will pick ...
October 26, 2023
Samsung Biologics quarterly sales hit W1tr for first time

Samsung Biologics said Wednesday it exceeded 1 trillion won ($741 million) in quarterly sales for the first time, following the operation of its fourth plant and profits generated by long-term contract manufacturing orders. According to regulatory filings for the July-September period, Samsung Bio...
October 25, 2023
Genesis BBQ opens 11th store in Vietnam

Korean fried chicken franchise Genesis BBQ said Wednesday that it had launched its 11th store in Vietnam, ramping up its expansion in Southeast Asia. The two-story outlet in Da Nang, a coastal city in central Vietnam, has a total floor area of 128 square meters. With its proximity to My Khe Beach...
October 25, 2023
Coway ramps up environmental protection

By Song Jung-hyun ( junghyun792@heraldcorp.com )
October 25, 2023
Naver to build digital twin platform for Saudi cities

South Korean internet giant Naver said Tuesday it has secured a large-scale deal in Saudi Arabia to build a cloud-based digital twin platform for the kingdom’s futuristic smart city project. The deal signing ceremony was held in Saudi capital Riyadh on Monday upon President Yoon Suk Yeol’s state...
October 25, 2023
Hyundai looks to repeat late founder’s Mideast success with EVs, hydrogen

Hyundai E&C and Hyundai Engineering said Tuesday that they secured a $2.3 billion contract for the Saudi Arabia Jafurah Gas Processing Facilities Project from Saudi Arabian Oil Company, better known as Aramco. With the latest contract, Hyundai E&C will carry out 23 construction projects worth 26.3...
October 25, 2023
[KH Explains] Samsung-SK rivalry heats up for future chips

Competition is heating up between South Korean chip rivals Samsung Electronics and SK hynix to take the lead in the Compute Express Link, or CXL, technology amid its ongoing High Bandwidth Memory chip supremacy war. Although the market is still at the nascent stage, the two global DRAM leaders are ...
October 25, 2023
Samsung Biologics to offer solutions for Kurma Partners' portfolio firms

Samsung Biologics said Tuesday it inked a partnership with Kurma Partners, a French venture capital firm specializing in financing health care companies, to offer a variety of drug-related services to Kurma Partners' portfolio companies. Under the partnership, Samsung Biologics will provide biotec...
October 25, 2023
KT, Hyundai E&C, Saudi’s STC team up for digital infrastructure

KT Corp. said Tuesday it will establish a digital infrastructure in Saudi Arabia together with Hyundai Engineering & Construction and Saudi Telecommunication Company (Saudi Telecom), in line with the kingdom’s aims to diversify its industry structure under Saudi Vision 2030. KT said that it signe...
October 25, 2023
AI Auction debuts tax consultant chatbot

South Korean software startup AI Auction said Tuesday it has launched a tax consultant chatbot called “K-engine,” specializing in providing verified information on various tax regulations such as property and corporate tax. Unlike OpenAI’s ChatGPT, which is trained on freely distributed data on...
October 24, 2023
AmCham delegation to visit Washington this week

The American Chamber of Commerce in Korea said Monday its delegation will travel to Washington this week to meet with key US government officials and lawmakers. The three-day trip to the United States starting Tuesday is part of the annual business-promotion program it calls “Doorknock.” The del...
October 24, 2023
[Herald Interview] ‘Sustainability helps employees focus, companies attract talent’

Incorporating sustainability into corporate strategies doesn’t just help the planet, it also helps a company in practical ways — such as attracting more funds and motivating employees, Royal Philips’ head of sustainability told The Korea Herald in a recent interview. “Companies that create and...

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099