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The Korea Herald

Markets

August 13, 2023
Foreign Ministry hopes for smooth resolution on Iran's frozen funds

South Korea’s Ministry of Foreign Affairs on Friday expressed hope for a "seamless resolution" after the release of news reports that Iran has secured assurances from the US that it would be able to unfreeze its funds in Korea. "Our government has been closely collaborating with relevant countrie...
August 13, 2023
Toss Bank logs first monthly profit in July

Toss Bank, the internet-only banking arm of fintech giant Viva Republica, has reported its first monthly profit of approximately 1 billion won ($755,000) in July since its launch in October 2021, according to the lender on Friday. Toss Bank traditionally discloses its net profits and losses only o...
August 13, 2023
Chinese group tourists lift hopes for Korean fashion, pharma firms

South Korean pharmaceutical firms and fashion brands are hoping that the Chinese government's recent decision to allow large groups to travel to Korea would bring a medical tourism boom and K-pop-inspired fashion windfall. China's Ministry of Culture and Tourism said Thursday restrictions regardin...
August 13, 2023
LH CEO offers to resign as more faulty apartments found

The CEO of the state-run Korea Land and Housing Corp. (LH) offered to resign Friday amid the growing controversy over its lax oversight and poor management of apartment complexes with missing critical structural components. CEO Lee Han-joon said he was also belatedly informed that the firm omitted...
August 11, 2023
Industries upbeat about return of Chinese tourists

The Chinese government has decided to allow group tours to South Korea after a six-year hiatus instigated by diplomatic bickering between Seoul and Beijing, as well as the COVID-19 pandemic. China's Ministry of Culture and Tourism on Thursday said it would lift restrictions on its nationals to tra...
August 11, 2023
Posco-backed Senex Energy wins 7 gas supply deals

Posco International, a trading and energy firm under Posco Group, said Thursday that its Australian subsidiary Senex Energy has signed seven consecutive supply deals for natural gas with multiple international companies. Senex Energy has agreed to provide some 133 petajoules of natural gas -- an a...
August 11, 2023
Nvidia’s new AI chip to offer boon for Korean chip giants’ HBM business

While the two Korean chipmakers take up almost 90 percent share of the global HBM market, they are ramping up efforts to expand their businesses. SK hynix has been considered the front-runner in the race, taking up almost 50 percent of the market share as of 2022, in the data released by TrendForc...
August 11, 2023
Hyundai Elevator vows to boost market share in China

Shanghai Hyundai Elevator, the Chinese affiliate of South Korea’s largest elevator manufacturer, has pledged to achieve a 5.9 percent market share in China by 2030, the company announced during its 30th anniversary ceremony held in Shanghai, China earlier today. The anniversary was held in the Sm...
August 11, 2023
Hana teams up with Incheon, FSS to support SMEs on ESG efforts

Hana Financial Group said Thursday it signed a fresh agreement with the city government of Incheon and the Financial Supervisory Service to support small- and medium-sized businesses to better respond to calls for environmental, social and governance management. The signing ceremony was held at Ha...
August 11, 2023
[Herald Interview] ‘Empowering women goes beyond representation’

She explained that this trend is also aligned with the escalating focus on skills. Kapilashrami perceives that the skill set cultivated by CFOs has undergone a substantial evolution, particularly in the aftermath of the COVID-19 pandemic. CFOs now gain exposure beyond finance, accounting and bala...
August 11, 2023
Doubts deepen over LK-99 superconductor

Skepticism among scientists has been deepening in the past few days over a Korean research team’s discovery of the room-temperature superconductor known as LK-99, after a slew of replication efforts have fallen short. The University of Maryland’s Condensed Matter Theory Center on Tuesday said on...
August 11, 2023
Behind jamboree's halal food efforts

South Korea has bolstered efforts to offer diverse catering services for the World Scout Jamboree, taking particular care to offer adequate halal food options for Muslim Scouts. "Currently, we are aiming to create a halal ecosystem for the remaining 2,160 scouts in North Jeolla Province," said Lee...
August 11, 2023
[KH Explains] Why Nexon shines alone in Q2

Nexon has come out on top in second quarter earnings among major Korean game developers, becoming the only company to post on-year growth in both sales and operating profits during the period. Nexon on Wednesday reported 902.8 billion won ($685.3 million) in sales and 264 billion won in operating ...
August 10, 2023
Coupang on smooth ride for first profitable year

South Korean e-commerce giant Coupang posted record second-quarter earnings amid the thriving performance of its new business initiatives -- extending its dominant run for four consecutive quarters since turning a profit for the first time in 2022. During its earnings call Wednesday, the New York-...
August 10, 2023
Abnormal weather sends fruit prices soaring

The prices of apples and pears are expected to rise due to decreased fruit yields caused by poor weather conditions, according to data released by government-funded research organization Korea Rural Economic Institute on Wednesday. The projection for the agricultural sector for August raises conce...

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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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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099