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The Korea Herald

Markets

July 25, 2023
Albamon, Alba Heaven slapped with W2.6b fine for collusion

The two firms operating the nation’s largest part-time job portals, Albamon and Alba Heaven, were fined 2.6 billion won ($2 million) for collusion, the antitrust watchdog said Monday. Following a record 16.4 percent minimum wage hike in 2018, JobKorea and MediaWill Networks, which run Albamon and...
July 25, 2023
Posco Holdings’ quarterly profits recover to hit W1.3tr

Posco Holdings, the holding company of South Korea's top steelmaker Posco, said Monday that its operating profit in the second quarter reached 1.3 trillion won ($1.03 billion), recovering from a sluggish performance in the previous quarter this year. It is also the first time for the company's ope...
July 25, 2023
Bacardi Korea teams up with artists for Bombay Sapphire exhibition

Bacardi Korea has collaborated with four emerging Korean artists in a Bombay Sapphire brand exhibition, under a global campaign named Stir Creativity, which is running until July 31 in Seoul. Bombay Sapphire, founded in 1761, is a premium London Dry Gin brand famous for its unique vapor infusion m...
July 24, 2023
EcoPro highly likely to make MSCI index in August: analysts

South Korean battery materials company EcoPro, the red-hot stock in the nation’s secondary tech-laden Kosdaq, is highly likely to be included in the MSCI Korea Index in August, Samsung Securities wrote in a recent report published Friday. EcoPro is a holdings firm with units EcoPro BM and EcoPro ...
July 24, 2023
Public Procurement Service supports suppliers for overseas expansion

South Korea’s government procurement agency said Friday it is ramping up support for local companies to accelerate their expansion into overseas markets and boost the nation’s exports overall. Affiliated with the Ministry of Economy and Finance, the Public Procurement Service oversees and manage...
July 24, 2023
Museum for late Samsung chief’s art collection gets regulatory approval

A new art museum featuring some 23,000 artworks collected by the late Samsung Group Chairman Lee Kun-hee is expected to be built in central Seoul in 2028 after getting regulatory approval Thursday. The museum was one of the six construction projects whose feasibility reviews gained approval from t...
July 24, 2023
HMM put up for sale for 'at least' W5tr

The state-run Korea Development Bank and Korea Ocean Business Corp., the two largest shareholders of debt-ridden shipping company HMM, are seeking to sell their shares for at least 5 trillion won ($3.9 billion), according to industry sources Friday. The two organizations said they are selling a co...
July 24, 2023
SK Chemicals shares soar on AstraZeneca deal

Shares of SK Chemicals soared sharply Friday, a day after the chemicals and drug developer announced that it signed a contract manufacturing deal for British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca’s diabetes medicines. Its shares started at 79,800 won ($62.27) ...
July 24, 2023
LG Chem seeks to foster more flexible corporate culture

South Korea’s largest chemical company LG Chem said Friday it is accelerating efforts to create a more flexible corporate culture and foster better communication between executives and employees. As part of related efforts, the company recently launched its new initiative called the CEO Discussio...
July 24, 2023
Renault’s LPG-powered QM6 nears 100,000 unit sales

The New QM6 by Renault Korea Motors is the only sport utility vehicle in Korea that is powered by liquefied petroleum gas or LPG. Highlighting the high demand for the LPG model among Korean drivers, the carmaker said almost seven out of 10 QM6 cars sold in the first half of this year were LPG mode...
July 24, 2023
[KH explains] Investors bullish on Posco stocks

Shares of firms under Korean steel giant Posco Group are skyrocketing, hitting new highs as the group is expected to excel amid high prospects for the battery industry, Posco Holdings, the holding firm and leading stock of Posco Group, closed at 551,000 won ($428) Friday, more than double its clos...
July 24, 2023
[Beyond Earth] Spacemap looks to revolutionize satellite orbit prediction

In February 2009, two communications satellites -- a commercial satellite owned by US-based global satellite company Iridium Communications and a Russian military satellite -- collided in space, marking the first-known collision between two satellites and resulting in over 10,000 pieces of space de...
July 24, 2023
Samsung likely to lose again to TSMC in chips revenue

Samsung Electronics, the world's largest memory chip maker, appears to be lagging behind its rival Taiwan Semiconductor Manufacturing Corp. in terms of revenue from its global semiconductor business for four quarters in a row amid a protracted slump in the global economy. According to industry sou...
July 24, 2023
Hyundai Group chair underscores people-centered management

Hyundai Group Chairman Hyun Jeong-eun has highlighted the importance of business management with a people-centered approach and fostering young talent, Hyundai Elevator said Sunday. Hyun attended a town hall meeting to commemorate the opening of Hyundai Elevator’s Future Talent Academy with some ...
July 24, 2023
Looming Vietnamese tax revision rattles Korean textile firms

Vietnam is responsible for about half of Nike’s footwear production globally, and almost half of the Vietnamese production is shouldered by South Korean equipment manufacturers that have operated there for decades. Nike is just one example of South Korean businesses’ presence in Vietnam in the te...

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