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The Korea Herald

Markets

July 03, 2023
[KH Explains] Korea’s economic recovery slower than hoped

Though Korea’s sluggish economy was initially expected to improve in the latter half of the year, the recovery is slowing, as the country struggles with a prolonged export slump. The Finance Ministry is likely to lower slightly the economic growth rate forecast for 2023 from the previous 1.6 perc...
July 03, 2023
[Herald Interview] Korea at forefront of innovation, leadership: GSMA execs

With discussions heating up for sixth-generation network services, the GSMA has decided to hold its flagship global leadership conference, the Mobile 360, in Seoul in September for the first time. So far, Singapore has been the key destination for the M360 APAC, the Asia-Pacific leg of the conferen...
July 03, 2023
Posco International seeks to go carbon-neutral by 2050

Posco International said Sunday it will achieve its carbon neutrality goal by 2050 in pursuit of establishing its position as a global environmental company. Under the new road map recently approved by its board, the company plans to reduce carbon emissions by 37 percent by 2030 compared to its em...
July 03, 2023
Mirae Asset Securities outpaces rivals in ESG ratings for H1

Mirae Asset Securities announced Friday that it received a grade A for its sustainable management by local ESG ratings agency Sustinvest, becoming the only securities firm to earn the top ranking. The latest recognition comes as the company has ramped up sustainability efforts since it started rel...
July 03, 2023
Schindler accused of misleading Hyundai Elevator investors

Switzerland-based elevator manufacturer Schindler Holding AG’s recent stake sale snafu in Hyundai Elevator is escalating doubts about its yearslong attempt at a hostile merger and acquisition of the Korean company, industry sources said Sunday. The second-largest shareholder of Hyundai Elevator h...
July 03, 2023
Hyundai Pharm recalls top hair-loss drug for containing dementia tablets

Hyundai Pharm, a South Korean pharmaceutical company, is recalling some 20,000 bottles of Minoxidil, a drug for hypertension that is also widely used for treating hair loss, following a report by a pharmacist that a Minoxidil bottle was found to have contained tablets of the dementia drug, Tamirin,...
July 03, 2023
S. Korea's air travel back to near pre-pandemic levels

The number of South Korean air passengers using domestic carriers increased in the first half to around 84 percent of pre-pandemic levels, government data showed Sunday. According to data released by the Ministry of Land, Infrastructure and Transport, 53.4 million air passengers used both domestic...
July 02, 2023
South Korea, Japan hold in-depth talks to strengthen bilateral trade

South Korean Trade Minister Ahn Duk-geun discussed measures to strengthen bilateral trade with his Japanese counterpart Hirohide Hirai during his visit to Seoul on Friday. The bilateral talk comes as Japan has announced to reinstate South Korea as a "Group A" country earlier this week, returning t...
July 02, 2023
GS Caltex, Korean Air to test sustainable aviation fuel

South Korean oil refiner GS Caltex said Friday that it has teamed up with national flag carrier Korean Air to promote the demonstration of Sustainable Aviation Fuel to reduce carbon emissions in the atmosphere. Through the partnership, GS Caltex will supply SAF -- an alternative to conventional fo...
July 02, 2023
SKT invests $100m in Joby Aviation to ramp up UAM business

South Korean telecom giant SK Telecom announced late Thursday it will invest $100 million to acquire a 2 percent stake in US urban air mobility firm Joby Aviation. The two forged the investment agreement on Tuesday, and vowed to strengthen their partnership in the UAM business further. The Korean ...
July 02, 2023
SK Biopharmaceuticals acquires 60 percent stake in Proteovant Therapeutics at W62b

SK Group’s pharmaceutical arm, SK Biopharmaceuticals, said Friday that it has decided to acquire a 60 percent stake, or 40 million shares, in US biotech company Proteovant Therapeutics for 62 billion won ($47 million). This deal size is equivalent to 19.6 percent of the Korean company’s total eq...
July 02, 2023
Toss selected as preferred bidder for Shinsegae's payment services

South Korean retail giant Shinsegae Group said Friday it selected Viva Republica, the operator of Korean fintech unicorn Toss, as a preferred bidder to acquire the group's payment services. The entire stake of Shinsegae's mobile payment businesses SSG Pay and Smile Pay are up for sale. The two are...
July 02, 2023
Shinhan, Woori chairmen celebrate 100 days in office

Chairman Yim’s appointment followed financial authorities' persistent pressure on Yim’s predecessor Son Tae-seung to resign and accept the penalty that he received for mis-selling funds run by now-defunct Lime Asset Management. This is why Yim, a former career bureaucrat, has been prioritizing f...
June 30, 2023
Hyundai Steel to beef up net-zero efforts with low-carbon steel brand

Hyundai Steel has renewed its commitment to achieving its carbon neutrality goal by launching its own low-carbon steel brand, HyECOsteel, the first of its kind in the nation’s steel industry. The steelmaker said Thursday it will be ramping up marketing activities targeting automotive and shipbuil...
June 30, 2023
SC Bank offers 3.6% interest rates for new account holders

Standard Chartered Bank Korea said Thursday that it is offering a promotion for new clients signing up for its Jaeil EZ account, promising first-time customers interest rates of up to 3.6 percent per year, even for just one day of deposit. The promotion, which launched on June 20 and runs until Ju...

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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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