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The Korea Herald

Markets

August 20, 2023
Listed firms’ earnings plunge in H1

In the first six months of 2023, the added operating profit of Kopsi-listed firms fell by more than half, as the economy struggles to deal with the impact of global geopolitical tensions and high interest rates, the Korea Exchange said Thursday. According to data provided by the Korea Exchange, th...
August 20, 2023
SK On, Ford, EcoProBM pool $887m in Quebec cathode plant

South Korean electric vehicle battery maker SK On announced Friday a joint investment of 1.2 billion Canadian dollars ($887 million) with Ford and Korean battery manufacturer EcoProBM to construct a cathode manufacturing facility in Quebec, Canada. This collaboration aims to ensure a consistent sup...
August 20, 2023
Samsung Group gets partial go ahead to rejoin S. Korea's largest business lobby group

An independent compliance committee responsible for oversight of South Korea's largest conglomerate, Samsung, gave a partial go-ahead for the group’s reentry to the Federation of Korean Industries, the country’s largest business interest group. Samsung withdrew from the FKI in 2017, after a high...
August 20, 2023
SK Biopharmaceuticals signs license deal to introduce its epilepsy med in the Middle East, Africa

SK Biopharmaceuticals announced Friday that it had signed an out-licensing deal with Hikma MENA FZE, the Middle East and North Africa unit of British drugmaker Hikma Pharmaceuticals, for its epilepsy medication Cenobamate. Cenobamate is a medication for partial-onset seizures in adults. The drug i...
August 20, 2023
Starbucks Korea opens 6th community store to support decendants of patriots, war veterans

Starbucks Korea said Friday that the company has launched its sixth community store nearby Dongnimmun Station in central Seoul, which will support descendants of Korea's national patriots. Starbucks Korea has been raising funds from its community stores by collecting 300 won ($0.22) for every prod...
August 18, 2023
Innospace secures launch point in Australia

Innospace, a South Korean startup specializing in hybrid space rockets and small satellites, announced Thursday that it secured a five-year agreement with Equatorial Launch Australia, a space launch services provider, to conduct orbital launches from the provider’s Arnhem Space Centre for its HANB...
August 18, 2023
FSC vows to tackle overheated themed stocks

Kim So-young, vice chairman of the Financial Services Commission, stressed the agency's commitment to shielding investor trust from volatile themed stocks. “During the second half, we will strengthen our efforts to address the issue of excessive investment concentration in themed stocks,” Kim sa...
August 18, 2023
Kia touts new Sorento’s stylish, bold design

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
August 18, 2023
Lotte donates $100,000 to Hawaii wildfire victims

South Korea’s fifth-largest conglomerate Lotte Group said Thursday it made donations worth $100,000 in a bid to help Hawaii cope with the aftereffects of devastating wildfires that recently demolished the island of Maui. Lotte said the donation will be sent to Friends of Hawaii Charities -- a pub...
August 18, 2023
Fila’s Acushnet posts record quarterly sales on upbeat US sales

South Korean fashion company Fila Holdings Corp. said Thursday its US subsidiary Acushnet posted record sales of 906.01 billion won ($675.42 million) in the April-June period this year, up 9.3 percent from a year ago. Acushnet is a golf equipment and apparel company that owns the leading golf bran...
August 18, 2023
Swapping apples for mangoes: Korea eyes more tropical fruits

Seasonal fruits in South Korea could become vastly different in the following decades, as warmer temperatures will gradually reduce cultivable areas for popular fruit crops here. Apples, grapes and pears could slowly fade into the background, while tropical fruits such as mangoes and passion fruit ...
August 18, 2023
Celltrion to merge with sales unit to enhance synergy

South Korean pharmaceutical company Celltrion said Thursday it will merge with its sales unit, Celltrion Healthcare, next month to enhance business synergy and operational efficiency. “The boards of both companies have approved the merger proposal,” Celltrion Chairman Seo Jung-jin said during a ...
August 17, 2023
Korean won slides amid strong US dollar, China fears

The Korean won declined below 1,340 won against the dollar during trading hours Wednesday, marking a new three-month low and reflecting increased volatility from the US’ stronger-than-expected economy and deflation worries in China, boosting the dollar's safe-haven appeal. The Korean won against ...
August 17, 2023
Binggrae Melona becomes hot seller overseas

Binggrae, the nation’s largest snack maker, said Wednesday that it posted record sales of 77.5 billion won ($57.9 million) in overseas markets in the first half of this year. The figure is a 27 percent jump from a year ago and has more than doubled over the past five years. Binggrae attributed t...
August 17, 2023
Hyundai takes over GM plant in India

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

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EDITOR'S PICKS

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
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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