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The Korea Herald

Markets

August 04, 2024
S. Korea's kimchi exports achieve record high in H1

South Korea's kimchi exports have hit a record high in the first half of this year, largely driven by increasing demand for a healthier diet and the growing popularity of Korean culture and cuisine, particularly in the US and European markets. The country exported more than 23,852 tons of kimchi i...
August 02, 2024
Food trade agency secures more kimchi for Korean athletes at Olympics

As the world tunes into the Paris Olympics, the Korean national team has received a boost from home -- not just in spirit, but in flavor. The Korea Agro-Fisheries & Food Trade Corp., or aT, on Friday said it had delivered an additional shipment of Korea’s beloved culinary staple kimchi to the ath...
August 02, 2024
LG Display picks CSOT as preferred bidder for Chinese LCD plant

LG Display said Friday it picked its Chinese rival CSOT as a preferred bidder for its liquid crystal display plant in Guangzhou, China. CSOT, a display-making subsidiary of China appliance giant TCL, is the world's second-largest LCD maker following its crosstown rival BOE. LG said it plans to co...
August 01, 2024
Buyout deals surface amid Qoo10 affiliates' exit rush

The situation is further complicated by questionable capital flows into the parent company from its Korean units. Financial regulators found signs of illegal activity when tracking Qoo10's capital and requested a prosecution investigation. On Thursday, prosecutors raided Tmon and WeMakePrice's hea...
August 01, 2024
US Fed’s dovish signal puts Korean rate cut on table

The US Federal Reserve's signal for a key rate cut has paved the path for the Bank of Korea to embark on an interest rate-cutting cycle soon, as surging household debts and currency volatility remain a concern. While keeping the benchmark rate unchanged at a range of between 5.25 and 5.5 percent, ...
August 01, 2024
[KH Explains] Can Korea commercialize UAM in 2025?

Korea’s private and public sectors have been working relentlessly to commercialize urban air mobility, or UAM, in 2025 as the country looks to take the lead in the up-and-coming global UAM sector. The Ministry of Land, Infrastructure and Transport has laid out the K-UAM roadmap with two-part demo...
August 01, 2024
Korea-Vietnam cooperation seeks cost cuts, tech gains

The business communities in South Korea and Vietnam are anticipating reductions in production costs and technology advancements, respectively, from bilateral economic cooperation between the two nations, according to a survey released Thursday. The survey, conducted by the Korea Chamber of Commerc...
August 01, 2024
Overdue wages hit all-time high in H1: data

South Korea recorded an accumulated over 1.04 trillion won ($764 million) in overdue wages in the first half of this year, marking the highest-ever figure in either half of a year, government data showed Thursday. It marked the first time that overdue wages across the country had surpassed 1 trill...
July 31, 2024
Hanwha Aerospace logs record profit in Q2

Hanwha Aerospace posted record operating profit of 358.8 billion won ($260 million) in the second quarter thanks to arms exports to Poland, the Korean defense firm said Wednesday. According to the company, operating profit surged by 357 percent compared to the second quarter of last year. Hanwha A...
July 31, 2024
Samsung SDI, LG Energy Soluton get closer to 46-series battery mass-production

Samsung SDI and LG Energy Solution are nearing mass production of the next-generation 46-series cylindrical battery, which is anticipated to be the next generation in battery technology. Samsung SDI is accelerating its timeline, aiming to start mass production of the 46-series cylindrical batterie...
July 31, 2024
Korean Intellectual Property Office chief vows bold steps to safeguard export innovations

The Korean Intellectual Property Office is accelerating global efforts to enhance intellectual property rights for Korean export companies. At the recent World Intellectual Property Organization General Assembly, KIPO engaged in bilateral meetings with representatives from 10 countries. KIPO Commi...
July 31, 2024
Global IP alliances propel Korea’s patent office to new heights

KIPO is also enhancing infrastructure for intellectual property in major cities. On July 12, it held an opening ceremony for the European IP center in Frankfurt, Germany. This event marked the launch of the revamped regional European IP-Desk, restructured this year to provide faster support to Kor...
July 31, 2024
Regulators look into shady cash flow within Qoo10

Once a prominent figure in the Korean e-commerce sector, Qoo10 Group's CEO Ku Young-bae is now facing allegations of a Ponzi scheme involving delayed payments amounting to thousands of billions of won for vendors on local online marketplaces Tmon and WeMakePrice. These accusations emerged after Ku...
July 31, 2024
Bankruptcy fears loom large over Tmon, WeMakePrice

Qoo10 CEO Ku Young-bae pledged a "complete recovery of damages" related to the payment delays affecting its struggling e-commerce affiliates, Tmon and WeMakePrice, with government support. Addressing the National Assembly’s Political Affairs Committee on Tuesday, Ku's commitment followed the comp...
July 30, 2024
[Business Diplomacy] As Trump targets EVs, Hyundai-Kia shifts gears to hybrids

Last year alone, Korean battery companies received about 1.3 trillion won ($9.4 billion) in IRA tax credits. Excluding the IRA tax credits, LG Energy Solution reported an operating loss of 252.5 billion won in its second-quarter earnings report last Thursday. SK On could have accumulated more than ...

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