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The Korea Herald

Markets

July 16, 2023
Hackers steal W8m from Starbucks app

The official Starbucks Korea mobile application was hacked on Monday, resulting in the theft of approximately 8 million won ($6,300) from the in-app cards of some 90 customers. A recent post from someone on an online forum alleged that unauthorized payments worth a total of 2.8 million won were ma...
July 16, 2023
Daewoong Bio set to ramp up antibiotics biz to W100b in value

Daewoong Group subsidiary Daewoong Bio Inc. on Friday unveiled a vision to scale up its antibiotics business to 100 billion won ($79 million) in value, amid the slowing market for antibiotics. Daewoong Bio said it has invested 50 billion won to build a new plant for manufacturing Cephalosporin, or...
July 16, 2023
Hana selected as preferred bidder for KDB Life Insurance

Korean private equity fund KDB-Consus Value has selected Hana Financial Group as the preferred bidder to acquire KDB Life Insurance, according to state-run policy lender Korea Development Bank on Thursday. Back in 2010, the PEF was established jointly by KDB and Consus Asset to buy a controlling s...
July 16, 2023
Kia's India plant manufactures 1m vehicles in 4 years

Along with its celebration of rolling out more than 1 million vehicles from its Indian manufacturing plant, Kia discussed its new marketing strategy to specifically target the Indian market, also known as “Kia 2.0.” Under the Kia 2.0 strategy, the company plans to expand the number of vehicles i...
July 16, 2023
Korea to stick to previous aspartame regulation, as WHO states limited carcinogenicity

South Korea’s Ministry of Food and Drug Safety said Friday it has decided to retain the standard acceptable daily intake (ADI) of aspartame in foods and beverages here, despite the assessment of a WHO agency concluding that the artificial sweetener is "possibly carcinogenic to humans." The Intern...
July 14, 2023
BOK extends rate pause amid cooler inflation

The Bank of Korea kept the base rate unchanged at 3.5 percent Thursday, going for a fourth consecutive freeze as inflation has shown signs of cooling down significantly. The six-member monetary policy board unanimously voted for a rate freeze, while agreeing to keep the terminal rate at 3.75 perce...
July 14, 2023
I&OK eyes global expansion through metaverse platform

South Korean ICT start-up I&OK said that it has inked an agreement with global artificial intelligence-based company iStaging to establish a joint venture called iStaging Asia. The signing event was held at I&OK's office in Seoul on July 3, with top executives including I&OK CEO Song Min-jae and i...
July 14, 2023
[Herald Interview] 'Samsung SDI to play vital role in accelerating Indiana's EV transition'

Samsung SDI’s recent joint venture deal with General Motors to construct an electric vehicle battery cell manufacturing plant in Indiana is expected to play a pivotal role in fostering a more advanced manufacturing workforce. “We’ve got five auto OEMs (original equipment manufacturers) (includi...
July 14, 2023
Nongshim sets vision to achieve $1.5b in sales by 2030

In celebration of his second year in office, Shin Dong-won, chairperson of Korean food giant Nongshim, on Thursday unveiled a vision to post $1.5 billion in global sales by 2030 and become the No. 1 ramen seller in the US amid its soaring performance there. According to the company, Nongshim's pla...
July 14, 2023
Geraldine Guyot-Arnault, Lee Boo-jin spotted mingling at Seoul launch party

By Lee Jung-joo ( lee.jungjoo@heraldcorp.com )
July 14, 2023
EcoPro to inject W2tr in Pohang to beef up cathode production

South Korean battery materials company EcoPro said Thursday it will invest 2 trillion won ($1.6 billion) in an industrial complex in Pohang, North Gyeongsang Province, to boost an ecosystem for developing cathode materials for rechargeable batteries. The company signed a memorandum of understandin...
July 14, 2023
Private-public teamwork is new survival tactic for businesses: Chey

SEOGWIPO, Jeju Island -- Gone are the days when it was sufficient for companies to have the upper hand in the global market by sharpening their competitive edge on their own. Governments and corporations teaming up together has become a global phenomenon to deal with uncertainties induced by suppl...
July 14, 2023
Kia vows $200m to produce EV9 at Georgia plant

Kia will invest over $200 million to manufacture the company’s latest all-electric three-row sport utility vehicle EV9 from its plant in the US state of Georgia, the South Korean automaker’s American office announced Wednesday local time. The company’s Georgia West Point assembly plant will be ...
July 14, 2023
Daewoong’s Nabota secures over half million membership users in US

Daewoong Pharmaceutical said Thursday its US partner Evolus’ botulinum toxin treatment program using its Nabota, or Jeuveau, has secured over 600,000 subscribers in the US. Daewoong added that 96 percent of patients enrolled in the botulinum toxin program have returned for a second injection, pro...
July 14, 2023
Posco unveils vision for W100tr sales by 2030

Posco Group on Thursday unveiled a new vision titled "Better World with Green Steel" to aggressively ramp up its global steel competitiveness, while upholding environmental, social and corporate governance values. During a ceremony held to announce Posco's vision at the group's headquarters, atten...

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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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