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The Korea Herald

Markets

July 13, 2023
FSS chief urges foreign financial firms to prioritize effective risk management

Lee Bok-hyun, governor of the Financial Supervisory Service, urged foreign financial firms Wednesday to prioritize effective risk management in a roundtable meeting with their CEOs in Seoul on Wednesday. "In light of recent domestic and international uncertainties, I urge foreign financial firms t...
July 13, 2023
LG Electronics sets sights on W100tr in sales by 2030

LG Electronics announced Wednesday its vision to transform into a "smart life solutions company" to expand customer experience, to take a leap from its core identity as a top home appliance brand. The tech giant also set the goal to achieve a global annual revenue of 100 trillion won ($77.5 billio...
July 13, 2023
[Herald Interview] Daewoong Pharmaceutical steps onto global stage

Korea’s leading pharmaceutical firm Daewoong Pharmaceutical aims to achieve a fivefold increase in overseas sales within the next five years through the introduction of new drugs, according to the company's global business head on Friday. “My personal goal is to see Daewoong’s overseas sales re...
July 13, 2023
Korea looks to lure more foreign workers

Though the country’s labor market has been strong recently, the government sees that there is an imbalance in the job market, as some employers are continuing to have a hard time finding employees. According to the Labor Ministry, there were 214,000 job openings as of May. The ministry defines jo...
July 13, 2023
W8.6b returned to people who sent money to wrong accounts

A total of 8.6 billion won ($6.7 million) was returned to 7,015 people who wired money to the wrong accounts since July 2021, the Korea Deposit Insurance Corporation said on Wednesday. The Misdirected Wire Transfers Recovery Support System, implemented in July 2021, is a system that returns money ...
July 13, 2023
HiteJinro’s Kelly hits 100m sales in 99 days

HiteJinro’s new beer brand Kelly sold 100 million bottles in 99 days since its market debut in April, according to the nation’s top beverage company Wednesday. Some 3.3 million boxes of Kelly, HiteJinro’s sixth beer brand and the first lager beer, were sold as of Tuesday. The company said the ...
July 13, 2023
Bacardi Korea teams up with Daytona Entertainment for summer campaign

Bacardi will also host a DWMY party, which is scheduled for Aug. 12. Bacardi, founded in Cuba in 1862, is a privately held premium rum brand with a portfolio of over 200 brands and labels. It is best known for its white rum and is sold in more than 170 countries worldwide. By Yu Ji-soo (jisooyu12...
July 13, 2023
Starbucks to roll out 'trenta' size drinks in Korea

Starbucks Korea will release a limited edition of three popular beverages in a size called "trenta" that is almost 1 liter starting from July 20 to Sept. 30, to commemorate its 24th anniversary of opening in the country. The trenta size will be available as to-go only at select locations, and offe...
July 13, 2023
Hanwha, SK team up on renewable energy

Hanwha Solutions and SK D&D have inked a strategic partnership to push for hydrogen fuel cell and solar power energy businesses, the companies said Wednesday. Representatives from the two sides signed a memorandum of understanding on Tuesday. According to officials, their joint hydrogen fuel cell ...
July 13, 2023
Air Incheon launches Incheon-Kuala Lumpur route

South Korean cargo carrier Air Incheon said Wednesday it has launched a new route connecting Incheon and Kuala Lumpur, its second route to a Southeast Asian country following the first one between Incheon and Hanoi. The company said it plans to operate one flight over five days a week, from Tuesda...
July 13, 2023
Pressure mounts on milk producers to cut prices

The Ministry of Agriculture, Food and Rural Affairs recently met with South Korean dairy companies in a bid to increase the pressure on them to minimize price hikes for milk, according to Food Ministry Wednesday. According to a Food Ministry spokesperson, the Food Ministry asked Korean dairy compa...
July 12, 2023
NHN Commerce acquires Italian luxury fashion retailer

NHN Commerce, the retail unit of South Korean information technology company NHN Corp., said Tuesday it acquired a controlling stake in Italian luxury fashion brand retailer Ikonic, in a bid to further extend its reach into the global stage. NHN Commerce now holds a 77.8 percent stake in Ikonic --...
July 12, 2023
Hyundai hires first female factory workers

Hyundai Motor Group has hired female workers for its local production plants for the first time since its founding, according to the nation’s umbrella union on Tuesday. Among a total of 200 factory workers hired in July, six were women, the Korea Metal Workers’ Union said. The carmaker, however,...
July 12, 2023
Posco raises 2030 second battery material sales target by 50%

Posco Holdings has set a goal of achieving 62 trillion won ($48 billion) in sales of secondary battery materials by 2030 by expanding its raw material production capacity, it said Tuesday. During its Posco Group Secondary Battery Materials Business Value Day, the firm announced the new goal, which...
July 12, 2023
[Herald Interview] Why Korea is a crucial partner for Qualcomm

US chip giant Qualcomm Technologies has made an active push to drive innovation in next-generation growth engine industries in South Korea, with big name companies such as Samsung, LG and Hyundai. It looks to continue the journey through closer partnerships with key industry players here, according...

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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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