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The Korea Herald

Markets

September 27, 2023
[KH Explains] Lotte goes all-out to secure cash amid lackluster earnings

South Korean retail giant and the nation's fifth-largest conglomerate Lotte Group is reportedly resorting to liquidating billions of won in assets as it grapples with flagging performance posted across its major subsidiaries. According to the Financial Supervisory Service's electronic disclosure b...
September 27, 2023
LG chief convenes CEO meeting to review growth strategy

LG Group Chairman Koo Kwang-mo reportedly convened some 30 CEOs on Tuesday to discuss the group's longer-term strategies ahead of the weeklong Chuseok holiday. Top executives of key affiliates, including LG Electronics, LG Display, LG Innotek, LG Chem and LG Energy Solution, attended the annual wo...
September 27, 2023
Kakao completes its first own data center

South Korean IT giant Kakao, having suffered from its worst-ever server shutdown last year, has completed its first in-house data center in Ansan, Gyeonggi Province, the company said Tuesday. The new facility, called Kakao Data Center Ansan, spans 47,378 square meters within Hanyang University’s ...
September 27, 2023
SK Telecom to triple investment in AI

The CEO of SK Telecom, South Korea's largest wireless carrier by subscription, unveiled on Tuesday the company's roadmap to leap forward as a global artificial intelligence firm within the next five years by expanding its business and technology based on its AI assistant service, A. At a press con...
September 27, 2023
120,000 more public homes to be supplied by this year

The Korean government on Tuesday said it plans to supply an additional 120,000 public homes by this year to help ease the housing crunch in the sluggish market. The plan came after the government held a meeting earlier in the day attended by Finance Minister Choo Kyung-ho, Land Minister Won Hee-ry...
September 26, 2023
Rebellions' AI chip to undergo IBM quality testing

Korean AI semiconductor startup Rebellions said Monday that its chips were set to undergo quality testing at data centers of IBM Research's AI Hardware Center in New York. IBM Research's AI Hardware Center conducts exhaustive quality testing for enterprise-grade data center processors. It evaluate...
September 26, 2023
Samsung Biologics attends CSLA investor forum

Samsung Biologics said Monday the company participated in CSLA's flagship investor forum which was held in Hong Kong on Sept. 11-14, to promote the company’s vision and business strategy. The investors’ forum, one of the largest of its kind in Asia, is held by CLSA, an institutional broker and i...
September 26, 2023
SKT, OpenAI hold AI competition for social good

SK Telecom said on Monday that it successfully wrapped up its international AI competition, “Prompter Day Seoul 2023,” held in partnership with OpenAI. The event’s theme centered around building AI innovations beneficial to humanity. The two-day event first had 226 teams proposing concepts leve...
September 26, 2023
[Herald Interview] S&P economist tells Korea to brace for worst-case scenario with China

China’s economic slowdown could deteriorate more than initially projected, increasing the strain on Korea’s export-reliant growth in the short term, an economist from S&P projected. “The number one issue (in China) has to do with private sector debt and over-leveraging. That is a problem that h...
September 26, 2023
SKC to build bioplastics plant in Vietnam

South Korea's advanced materials maker SKC said Monday that it had decided on a location in Vietnam’s northeastern city of Hai Phong to establish a manufacturing plant for biodegradable plastics, as it pushes to expand its eco-friendly business. Amid mounting global calls to reduce plastic waste,...
September 26, 2023
SK Earthon starts first independent oil production in South China Sea

SK Earthon, a subsidiary of South Korean energy giant SK Innovation specializing in oil exploration and production, said Monday that it has commenced its first independent crude oil production in the Lufeng 12-3 oil field, part of Block 17/03 in the South China Sea, starting this September. Locate...
September 26, 2023
KB chief hopes successor transforms group into 'Samsung of finance'

KB Financial Group's outgoing chair, Yoon Jong-kyoo, said Monday that he hopes his successor will realize his unattained goal to grow the group as a top-10 financial firm in the world. "I previously said I want to turn the group into the 'Samsung of finance,' but now that I look back, I feel a lot...
September 25, 2023
FSS issues advisories to fisheries cooperatives federation for W50b investment loss

The Financial Supervisory Service, South Korea's primary financial regulatory body, has issued management advisories to the National Federation of Fisheries Cooperatives after losing approximately 50.1 billion won ($37.5 million) it poured into an alternative high-yield overseas investment, as reve...
September 25, 2023
[Test Drive] Toyota’s minivan Alphard boasts sedanlike drive

As for the exterior, the Alphard Hybrid boasts a powerful and sporty image, with a triple-LED and black glossy mesh grille. The car’s side accentuates a dynamic style, while maintaining a one-box minivan design. For the first time for Toyota vehicles, the minivan’s rear has a new hybrid electric ...
September 25, 2023
Korea trade volume sees sharp drop among OECD members

South Korea’s exports in July dropped by the fourth-largest amount among the Organization for Economic Cooperation and Development's member countries, hit by China's sputtering economy, while its imports showed the sharpest fall among them, data showed Sunday. Korea’s export volume in July dropp...

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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
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