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The Korea Herald

Markets

September 08, 2023
Hyundai, LG chiefs visit Indonesia to bolster EV, battery partnerships

Following President Yoon Suk Yeol’s visit to Indonesia for the South Korea-Association of Southeast Asian Nations summit, South Korean conglomerates’ chiefs embarked on a business trip to the emerging country to boost cooperation on electric vehicles and construction projects, industry sources sa...
September 08, 2023
HD Korea Shipbuilding hits order target ahead of schedule

HD Korea Shipbuilding & Offshore Engineering said Thursday it secured new orders for four very large ammonia carriers, or VLACs, totaling 616.8 billion won ($462.6 million), reaching its annual order target ahead of schedule. These orders, secured during the global gas and climate technologies eve...
September 08, 2023
After record earnings, large-scale walkout looms at Chanel Korea

After recording its best earnings last year, Chanel Korea is under mounting pressure to share more profits with employees in a fairer way, with its unionized workers threatening to go on a full-scale walkout ahead of its peak holiday season later this month. According to the Chanel Korea Union, af...
September 08, 2023
KT’s new CEO rules out possibility of massive reshuffle, calls for unity

Kim Young-shub, the new CEO of South Korea’s telecommunications giant KT Corp., vowed Thursday to make the company a leader in the digital era by converging the capabilities of the wireless carrier’s information technology and communication technology during his term. “By raising the level of K...
September 07, 2023
Samsung CEO confident in competing against TSMC

Samsung Electronics co-CEO Kyung Kye-hyun, who oversees the tech giant’s chips business, expressed confidence in the foundry competition with its archrival, Taiwan Semiconductor Manufacturing Co., in line with the construction of a new chip plant in Taylor, Texas. Kyung visited Seoul National Uni...
September 07, 2023
KT bolsters ties with Canada’s Vector Institute for AI

KT Corp. said Wednesday that it discussed bolstering its partnership with Canada's Vector Institute, a nonprofit firm dedicated to artificial intelligence research, to advance its latest AI technologies. The two parties have already been collaborating in the area of AI research and business develo...
September 07, 2023
SK Ecoplant forays into Europe with Posco

SK Ecoplant, the construction and energy arm of SK Group, signed a memorandum of understanding with Posco International on Wednesday with an aim to foray into the European market with recycled plastic technology. On Tuesday, the companies secured their partnership at SK Ecoplant’s headquarters in...
September 07, 2023
Hyundai Rotem unveils new weapons system in Poland

Hyundai Rotem, a railway, defense and plant systems provider under Hyundai Motor Group, said Wednesday it has unveiled its ground-based weapons system at the International Defense Industry Exhibition, or MSPO, Poland’s annual trade fair for military equipment. The company displayed the K2 Gap Fil...
September 07, 2023
[From the Scene] Chinese EV leaders take Europe's biggest auto show by storm

According to the IAA exhibitor directory, there were 671 companies that have each set up an exhibition booth at this year’s event. Chinese firms accounted for 45 of them. China's participation more than doubled from the previous event in 2021. Germany's auto giants -- BMW, Mercedes-Benz and Volks...
September 07, 2023
[Contribution] Time for 'regulatory break' for SMEs

By Oh Kee-woong Last weekend, my family and I went to a pet-friendly coffee shop near our house. It was heartwarming to see dogs and cats playing around while we enjoyed a cup of coffee. But under the current law, many pet-friendly cafes in South Korea are actually illegal, except for five places ...
September 07, 2023
Taxi fare surges most since Asian financial crisis

Taxi fares have experienced their most significant on-year surge since the 1997 Asian financial crisis, causing commuters like Kim Jung-ah, an office worker in Gangnam, Seoul, to feel the financial strain. Kim, who currently has a cast on her leg, relies on taxis for her daily commute to work, a j...
September 07, 2023
Incheon Airport vows to rebuild global network after years of pandemic disruptions

Incheon Airport unveiled its vision to ramp up its customer services and fortify its partnerships with international airports around the world, during the 2023 ACI CX Global Summit held in Incheon, Wednesday. The 2023 ACI CX Global Summit is a global summit on airport customer experience organized...
September 07, 2023
GS1 CEO calls on retailers to adopt QR codes to build trust

GS1, a nongovernmental organization based in Belgium that manages the bar codes scanned over 6 billion times daily across the globe, is set to unlock the future of the global retail industry with next-generation bar codes by supporting companies and consumers to access abundant trusted product data...
September 06, 2023
[Herald Interview] Mercedes-Benz strives to be iconic

MUNICH -- For over 100 years, Mercedes-Benz has looked to embody luxury in its vehicles, and the German automaker has lived up to expectations, seeing its iconic logo become one of the most beloved symbols across the world Through the unveiling of the new Concept CLA Class -- an electric vehicle c...
September 06, 2023
[Herald Interview] Mercedes-Benz focused on enhancing EV technologies

MUNICH -- Mercedes-Benz introduced the new CLA Concept Class for the first time in the world ahead of IAA Mobility, which is taking place in Munich from Tuesday. According to the German carmaker, the new concept vehicle has a driving range of over 750 kilometers per charge, which it claims to be th...

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