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The Korea Herald

Markets

August 17, 2023
[From the Scene] McDonald's Korea retraces 35-year journey at special book talk

The first part of the series with the Big Mac cover, "The Brand Storybook," offers readers a view into McDonald's product innovations, marketing tactics and customer stories. The red-colored second part, "The History" book chronicles the brand's significant milestones in Korea. Although it is not a...
August 17, 2023
Samsung sells ASML stakes to secure W3tr

Samsung Electronics sold a portion of its stakes in Dutch chip equipment maker ASML and secured 3 trillion won ($2.24 billion) in cash, the company reported in its semi-annual report Monday. In the report, the world’s No. 1 memory chipmaker reported that it held 2.75 million shares in ASML stocks...
August 17, 2023
SK Telecom, OpenAI to host hackathon

SK Telecom, South Korea's leading telecommunications carrier, said Wednesday that it will host a hackathon event with California-based startup OpenAI next month in Seoul to discover talent who are likely to lead the future artificial intelligence industry. Prompter Day Seoul 2023 will run under th...
August 17, 2023
STX to spin off shipping unit

South Korean trading company STX announced Wednesday that the company's board has approved a spinoff of its new shipping and logistics firm, which is tentatively named STX Green Logis, ahead of its stock listing next month. STX said its shares will be divided in an 80:20 ratio between STX and STX ...
August 17, 2023
Mirae Asset acquires Australia's No. 1 robo-adviser

Mirae Asset Global Investments announced Wednesday that it has acquired Australia’s No. 1 robo-adviser Stockspot. The Korean assets management firm said it will secure a 53 percent stake in the company in a deal worth 28 million Australian dollars ($18 million), with plans to increase the stake i...
August 17, 2023
Samsung’s Taylor fab secures first order from AI startup Groq

Samsung Electronics, the world’s largest memory chip maker, has forged a partnership with Groq, a US-based artificial intelligence inference systems provider, securing the first chip order for its semiconductor fab currently in construction in Texas. Groq revealed in a press release on Monday (US...
August 17, 2023
SK On pledges W1.5tr to ramp up Korean production

SK On announced Wednesday a 1.5 trillion won ($1.1 billion) investment in expanding the battery production capacity by adding a third plant in Seosan, South Chungcheong Province. Marking the South Korean battery maker’s largest investment in the country, the expansion will bring up the Seosan sit...
August 17, 2023
Korea to add more flights to prepare for China’s travel rush

Korea Airports Corp. said Wednesday it is considering adding some 4,500 flights connecting the nation’s seven provincial airports to cities in China by the end of this year, to better respond to China’s travel rush in the coming months. The state-run airport operator held an emergency meeting ea...
August 17, 2023
Government to boost exports with W23tr financial support plan

In a bid to bolster the competitiveness of the country's exports, which form the foundation of Korea's economy, the government has introduced an additional 23 trillion won ($17.18 billion) financial support plan, building upon a prior 16.7 trillion won initiative in funds for export enterprises. T...
August 16, 2023
Commercial real estate market slump to persist until 2024: Mastern

The global commercial real estate market, hit by high interest rates and a decline in office space demand, is likely to be in a prolonged slowdown until next year, a real investment firm based in Seoul said through a report issued on Monday. While Korean investment firms are suffering from losses ...
August 16, 2023
Hanmi Global posts record earnings for H1

Hanmi Global said Monday that it posted 205.6 billion won ($154 million) in sales and 13.7 billion won in operating profits in the first half of this year, both record figures for the Korean construction management firm. Compared to a year ago, sales and operating profits surged 25.6 percent and 2...
August 16, 2023
Upstage launches alliance for AI model based in Hangeul

Korean artificial intelligence startup Upstage said Monday that it is launching an industrywide alliance that is devoted to developing a large-scale language model that specializes in Hangeul, or the Korean alphabet. The 1T Club -- meaning "1 trillion token club" -- alliance brings together privat...
August 16, 2023
[KH explains] K-culture brings tourists in, but K-maps leave them wandering

“We translated, one by one, the details of numerous points of interest,” said Song Eun-kyung, leader of the VisitKorea team. They are currently in the process of translating and curating over 25,000 additional points such as highly rated restaurants, shopping districts, cultural facilities, event...
August 16, 2023
Hyundai Bioscience, US agency to develop antiviral drug

Hyundai Bioscience said Sunday that it will co-develop a broad-spectrum antiviral drug with the US National Institutes of Health, a federal agency for conducting and supporting medical research and the world’s largest public funder of biomedical research. A non-clinical evaluation agreement was s...
August 16, 2023
Hanwha to set up robotics unit in October

Hanwha Group, South Korea’s seventh-largest conglomerate, is looking to bolster its robotics business as it plans to establish a new robotics corporation. Hanwha announced Friday that its robot and automated guided vehicle businesses under the factory automation department at Hanwha Corporation/M...

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