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The Korea Herald

Markets

August 28, 2023
E-scooter-only lanes mulled for better safety

South Korea’s Ministry of Land, Infrastructure and Transport on Sunday announced a set of new guidelines to enhance the safety of personality mobility, or PM, vehicles such as electric scooters. As part of the ministry’s revision bill, the new guidelines will be applied for building new roads fo...
August 28, 2023
[Test Drive] Hyundai’s Santa Fe returns with off-road updates

The gas mileage of the vehicle was 10.3 kilometers per hour for a drive of 53 kilometers. The official mileage is 11 kilometers per hour. As for the design, the fifth generation Santa Fe parted ways from all previous models, adopting a box-shaped exterior with a longer length and wheelbase. Its fr...
August 27, 2023
How will China's lifting of group travel ban affect Korea's GDP?

China’s lifting of group tours to South Korea is estimated to lead to 800,000 more travelers and raise Korea’s gross domestic product by 0.06 percent this year, the Bank of Korea said Friday. The resumption of group tours is expected to have a significant impact on the recovery of Chinese touris...
August 27, 2023
Celltrion expects 50% jump in 2024 sales after merger

South Korean pharmaceutical company Celltrion said it aims to log 3.5 trillion won ($2.6 billion) in revenue 2024 once its merger with two affiliates is completed, an increase of over 50 percent from the revenue estimated for this year. During an online meeting with investors on Thursday, Celltrio...
August 27, 2023
President Yoon appoints chief of broadcasting watchdog

President Yoon Suk Yeol on Friday approved the appointment of Lee Dong-kwan as the new head of the state broadcasting watchdog, the Korea Communications Commission, despite controversy surrounding Lee and his son. Yoon conferred a letter of appointment to Lee, a former journalist who served as a s...
August 27, 2023
E-Mart 24 to enter Cambodian market next year, aims to run 100 outlets by 2028

E-Mart's convenience store chain, E-Mart 24, said Friday it will foray into the Cambodian market next year to tap into the country's economic growth potential. E-Mart 24 plans to open its first outlet in the country by the first half of 2024, becoming the first Korean convenience store operator to...
August 27, 2023
KT CEO nominee to debut at global leadership conference next month

South Korean telecommunications giant KT Corp.’s CEO nominee Kim Young-shub will take the stage as a keynote speaker at a global leadership conference organized by the UK-based mobile industry nonprofit GSMA next month. It will likely mark his first official schedule to step outside as KT’s new c...
August 25, 2023
BOK holds rate at 3.5% amid China fears

The Bank of Korea on Thursday kept its policy rate unchanged at 3.5 percent, holding it for the fifth consecutive time since February. Recent economic indicators show inflation could rebound within this year as the base effect from last year’s dip in international oil prices wears off. Oil prices...
August 25, 2023
BOK extends rate pause amid mounting US, China pressure

The Bank of Korea on Thursday kept its policy rate unchanged at 3.5 percent, maintaining it a fifth consecutive time amid growing China fears and a widened rate gap with the US. In a rate-setting meeting presided over by BOK Gov. Rhee Chang-yong, the six-member monetary policy board unanimously vo...
August 25, 2023
SM6 Feel combines perks of popular Renault sedans

Renault Korea Motors' SM6 Feel sedan, an upgraded version that integrates existing SE and LE trims, has been gaining popularity in the domestic market as a stylish yet cost-effective option. The car company said Thursday that its SM6 Feel accounted for 71 percent of the total sales of its SM6 vehi...
August 25, 2023
Pocari Sweat launches 2nd 'Beat the Heat Campaign'

Dong-A Otsuka, South Korea’s leading beverage maker, on Thursday revealed its second annual “Beat the Heat Campaign” video in collaboration with the Ministry of the Interior and Safety. Following the first campaign held last year, the company is striving to raise awareness on safety and health ...
August 25, 2023
This year's Merck Award winners announced

Merck Korea, the Korean unit of the German chemicals giant Merck, said Thursday that two Korean display specialists were named as the winners of its Merck Award this year during the International Meeting of Information Displays held at Bexco in Busan this week. Marking its 20th anniversary this ye...
August 25, 2023
Hyundai Mobis geared for IAA Mobility 2023

Hyundai Mobis, an automotive parts maker under South Korean conglomerate Hyundai Motor Group, said Thursday it is participating in the upcoming IAA Mobility 2023 to show off its vision of electrification at one of the largest automotive trade shows, in Germany. IAA Mobility will take place in Muni...
August 25, 2023
Samsung Food to debut at IFA

Park said Samsung Food seeks to bring together food enthusiasts around the world, and that the company expects to secure at least a million users around the end of this year. The new platform will have an online community function, where the users can share their own recipes and experiences relate...
August 25, 2023
All Mercedes-Benz’s cars contain piece of Korea: CEO

By Kan Hyeong-woo ( hwkan@heraldcorp.com )

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