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The Korea Herald

Markets

August 04, 2023
Prices of warehouses in greater Seoul plunge over 20%

Real estate prices of logistics centers in the greater Seoul area in the first half of this year have dropped over 20 percent from the previous six month period, amid an oversupply of such facilities and a sluggish economy, according to a local report released on Thursday. According to real estate...
August 03, 2023
Consumer inflation falls to 25-month low

BOK predicts inflation to rebound from August, coming in at 3 percent by year-end Korea's consumer prices showed slowed growth, rising by 2.3 percent in July on-year, mainly due to the decline in international oil prices and base effect from last year, data showed Wednesday. According to Statisti...
August 03, 2023
Hyundai Mobis supplies overhead bin-shaped glove compartment for Kia EV9

Hyundai Mobis, the car parts manufacturer affiliated with Hyundai Motor Group, said Wednesday it has supplied newly developed glove compartments inspired by airplane overhead bins to Kia’s three-row family electric car, the EV9. The parabolic motion glove compartment refers to its design that ope...
August 03, 2023
SK hynix expected to offer W1.2m incentives to employees to boost morale

SK hynix, the world's second-largest memory chip maker, is expected to offer financial incentives of 1.2 million won ($926) to each of its employees to boost morale, as the company has been struggling from consecutive losses in quarterly earnings, according to industry sources, Wednesday. SK hynix...
August 03, 2023
Hyundai, Kia record double-digit growth in US sales amid strong EV demand

Hyundai Motor and its sister company Kia both recorded double-digit growth in US sales in July, increasing by over 10 percent on-year, according to the data from the US units of the Korean carmakers. The combined sales of the two carmakers came to 143,787 units in July, 12.1 percent up from a year...
August 03, 2023
Samsung Bioepis considering takeover of Biogen's unit: reports

Samsung Bioepis is considering acquiring a biosimilar business unit of Biogen for around 1 trillion won ($775.3 million) to improve its presence in the US market, according to local reports on Wednesday. The acquisition will see Samsung Bioepis secure a direct sales network in the US, which could ...
August 03, 2023
Osstem Implant to be delisted from Kosdaq

South Korean dental implant maker Osstem Implant will be delisted from Korea's secondary tech-laden bourse Kosdaq starting Aug. 14, according to the company, Wednesday. The final stock trading period for Osstem Implant, which has a market capitalization with 2.93 trillion won ($2.26 billion), take...
August 03, 2023
Korea sees 3rd-largest GDP per capita fall among major economies in 2022

South Korea saw the third-largest decline in gross domestic product per capita among major economies in 2022 amid a strong US dollar, data released on Wednesday showed The country's GDP per capita fell 8.2 percent to record $32,142 in 2022 when compared to the year earlier, when it posted $34,998,...
August 03, 2023
SK Inc. C&C to build Korea’s 1st alternative trading system

SK Inc. C&C, the IT solutions unit of SK Group, said Wednesday that it will build South Korea’s first alternative trading system, scheduled to launch in the latter half of next year. The IT service provider will construct a comprehensive operation and management system to support the trading, bro...
August 03, 2023
KB hopes to turn around loss-making Indonesian unit

Bank KB Bukopin, the Indonesian subsidiary of Korean lender KB Kookmin Bank, has continued its loss-making run in the first half of the year, with its losses reaching over 1.49 trillion rupiah ($98.1 million) as of the end of May, according to data Wednesday. It also showed a notable surge from th...
August 02, 2023
Hanmi Global names North America chief

Korean construction management firm Hanmi Global said Tuesday that Kim Yong-sik, a former senior vice president of Hyundai Engineering & Construction, had been appointed as its new head of North America to be tasked with accelerating its overseas expansion. Born in 1964, Kim studied architectural ...
August 02, 2023
Kia to unveil new robot in 2024

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
August 02, 2023
[KH explains] Japan’s reviving chip industry unlikely to pose direct threat to Korea – for now

Japan, which supplied more than half of semiconductors in the global market in the 1980s, is now seen revamping its strategy to reclaim past glory, introducing state subsidies and setting an ambitious goal to mass produce the most cutting-edge chips. As geopolitics is playing out to reshape the gl...
August 02, 2023
Deep contraction in imports leads to trade surplus in July

But declining exports have continued to hold back the recovery of the export-dependent Korean economy. Korea’s exports fell by 16.5 percent on-year in July, declining for the 10th consecutive month. The sluggish exports came as the overseas sales of semiconductors, the country's key export item, ...
August 02, 2023
LG Chem to develop homegrown 6-in-1 vaccine for babies

LG Chem, a Korean chemicals manufacturer and drug developer, said Tuesday that the company is developing the country's first homegrown hexavalent vaccine for babies. A hexavalent vaccine, in which the country is entirely dependent on imports, is a combination vaccine that allows fewer injections f...

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