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The Korea Herald

Markets

October 03, 2023
Chuseok food cost hits all-time high

Amid rising inflation, an increasing number of Koreans are opting for more affordable ready-to-eat meals, or meal kit, products over traditional dishes to prepare a table for the Korean Thanksgiving holiday of Chuseok that runs from Sept. 28 through Sept. 30 this year. During Chuseok, setting up a...
October 03, 2023
Inflation driving up costs to eat out

The inflation rate for food prices at dining establishments and prices of processed foods has been increasing at a faster pace than the overall inflation rate for consumer goods, a state-led agency’s data showed Saturday. According to Statistics Korea, the inflation rate for food prices at dining...
October 03, 2023
Manpower Korea’s unique approach to reference checks

In order to prevent biased assessments, Manpower Korea practices blind reference checks in which the identities of the hiring executives are not disclosed to the candidates. It also has an independent team with experienced professionals for reference checks separate from the recruiting coordinator...
October 03, 2023
Revamped Genesis GV80 and first coupe sibling unveiled

The GV80 Coupe, the first Genesis coupe SUV model, embodies strength and athleticism with a sporty finish, Hyundai said. It was developed based on the GV80 with a powerful design upgrade to expand the customer base from traditional SUV lovers to those with distinctive taste. “The upper and lower ...
October 03, 2023
Hyundai Steel to showcase low-carbon tech at trade show

Hyundai Steel said Wednesday it will showcase its eco-friendly solutions at the Steel & Metal Korea 2023 exhibition, which takes place in Daegu on Oct. 11-13. During the industry’s largest trade show, the company said, it aims to renew its commitment to a low-carbon future, electric blast furnace...
October 03, 2023
Asiana mishandled midair door-opening, ministry rules

Asiana Airlines’ initial response to a recent midair door-opening incident was "inappropriate" and will be fined for it, the South Korean government's investigation showed, Rep. Park Sang-hyuk of the main opposition Korea Democratic Party said Wednesday. According to a report Park received from t...
October 03, 2023
Lotte increases efforts to give back to society

With the aim of alleviating childhood inequality, Lotte is also planning to expand its “Mom’s Happiness Playground” project, which builds safe, eco-friendly playgrounds in poor communities. Starting with its first playground in Dongnae-gu in Busan in 2017, the giant established a total 24 playg...
October 03, 2023
Lotte names ex-Samsung exec as new design chief

South Korean retail giant Lotte Group on Wednesday named Lee Don-tae, former president of the Samsung Art and Design Institute, as its new head of design strategy. Upon his appointment, Lotte announced that its Lotte Design Management Center has been rebranded as the Lotte Design Strategy Center. ...
October 03, 2023
Korea Post names new president

The state-run Korea Post said Tuesday that Rep. Cho Hae-keun of the ruling People Power Party has been named president of the national postal service. An expert in administration, Cho studied his undergraduates in the field at Sungkyunkwan University and went on to earn a master’s degree in Publi...
October 03, 2023
The Korea Herald to hold space forum on Oct. 11

The forum is sponsored by the Ministry of Science and ICT. • 2023 Korea Herald HIT Forum: Beyond Earth • Date: Oct. 11, 2023 (9 a.m.-3 p.m.) • Venue: Dynasty Hall, Seoul Shilla Hotel • For more information, visit hitforum.koreaherald.com/2023
October 03, 2023
Whisky imports surge 40% through August, suggesting record-breaking year

South Korea's whiskey imports surged by 40 percent year-on-year through August, signaling the potential for record-breaking annual inbound whiskey shipments this year. Whiskey product imports totaled 22,799 tons in volume from January to August this year, marking a significant increase from 16,267...
September 27, 2023
S. Korea’s consumer sentiment turns sour in September: BOK index

South Korean consumers turned pessimistic about overall economic conditions in September for the first time in four months, amid woes over weak exports and rising prices. The composite consumer sentiment index (CCSI) in September stood at 99.7, down 3.4 points from the 103.1 a month before, the Ba...
September 27, 2023
KFCC hosts UN conference for inclusive finance

The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Tuesday it has successfully hosted a regional workshop in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific last week. Under the theme of dig...
September 27, 2023
Milk prices to go up in Oct.

Starting in October, major South Korean milk companies will raise their product prices, following the Korea Dairy Committee's decision to increase the cost of raw milk by the highest rate in 10 years. Namyang Dairy Products said it will raise the price of its 900 milliliter-carton of milk by 4.6 p...
September 27, 2023
Hyundai Motor may sell Russian plant to local firm

A Russian firm will buy Hyundai Motor’s manufacturing plant in St. Petersburg which halted operations in March last year, Russian news agency TASS reported Wednesday citing Russian Deputy Prime Minister, Industry and Trade Minister Denis Manturov. The minister was quoted as saying, “We have alre...

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