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The Korea Herald

Markets

May 24, 2023
Nuri rocket set for 3rd launch

South Korea’s homegrown Nuri rocket, also known as the Korea Space Launch Vehicle-II, has begun the process to be positioned on a launch pad at the Naro Space Center in Goheung, South Jeolla Province, a day ahead of its third launch into space. According to the Ministry of Science and ICT and the...
May 24, 2023
Posco sweeps medals at Stainless Steel Awards

South Korean steel giant Posco said Tuesday it has won three medals for new stainless technologies at the Stainless Steel Industry Awards held by Worldstainless, a non-profit international association, earlier this month in Brussels. The company touted the latest feat as yet another recognition of...
May 24, 2023
Kakao, Saudi Arabia agree to expand partnership

South Korean internet giant Kakao Corp. announced Tuesday that it held talks with officials from the Saudi Tourism Authority on building mobile infrastructure to revitalize tourism in Saudi Arabia at the Kakao headquarters in Pangyo. Top executives from both sides, including STA’s President of AP...
May 24, 2023
Samsung Health bets big on sleep-tracking

Samsung Electronics said Tuesday it is working on advanced sleep-tracking technology as it seeks to boost its burgeoning health solutions business on its smartwatches. “Launched in 2012, Samsung Health has become a global health solution used by 64 million users around the world every month,” sa...
May 24, 2023
ASM determined to expand investment in Korea: CEO

ASM, a global supplier of semiconductor wafer processing equipment, will break ground on its second headquarters in South Korea Wednesday, under expansion plans to boost research and production capacity of an advanced chip processing equipment solution it produces only in the country. Underscoring...
May 24, 2023
DSME rebranded as Hanwha Ocean

This acquisition has been long-awaited by Hanwha, which has had its sights set on DSME for nearly 14 years. In 2009, Hanwha made its first attempt to acquire DSME, but failed to do so. At the time, KDB sought to sell its majority stake worth $5 billion, but the two parties failed to narrow differe...
May 24, 2023
Demand for cold medicines soar as seasonal flu persists

Demand for cold medicines has increased recently, as the seasonal flu has continued longer than usual. With the spurt in cold and flu cases, sales of cold medicines have increased while some pharmacies face shortages, according to data from the government and local pharmaceutical companies on Tuesd...
May 24, 2023
W14tr pledged to boost parts industry for future mobility

The South Korean government and major carmakers will jointly invest more than 14.3 trillion won ($10.9 billion) to promote the transition of the conventional auto parts industry to gear up for a "speedy" and "flexible" transformation for future mobility, the Industry Ministry said Tuesday. In a ro...
May 23, 2023
Energy bills soar 30% in Q1, most since 1998 financial crisis

The inflation index of utility bills for households -- including electricity and gas -- spiked by more than 30 percent in the first three months of 2023, marking the highest on-year increase since the 1998 financial crisis. The increase in utility prices for electricity, gas and other fuels conver...
May 23, 2023
Outpaced by Coupang, E-mart faces gloomy outlook

The nation’s largest discount store chain E-mart, owned by retail giant Shinsegae Group, suffered dismal sales in the first quarter this year, outpaced by its smaller rival Coupang for the first time, with a gloomy outlook for the rest of the year, according to local brokerage firms Monday. In th...
May 23, 2023
Celltrion's Remsima SC makes Brazil debut

Celltrion Healthcare, Celltrion’s overseas sales and marketing unit, announced Monday that the company has launched its Remsima SC in Brazil, the largest pharmaceutical market in South America. Remsima SC is Celltrion’s under-the-skin injection of infliximab biosimilar. In Brazil, the infliximab...
May 23, 2023
[KH explains] Will Kakao Pay become Korea’s answer to Robinhood?

In a recent media event, Kakao Pay CEO Shin Won-keun unveiled the company’s ambitious goal of becoming a Korean version of Robinhood in its recent push for global expansion in partnership with Siebert Financial, the US brokerage firm. “We are considering making a solution that combines Siebert's...
May 23, 2023
Samsung mulls moving launch date forward for upcoming foldable phones

Samsung Electronics is considering holding the upcoming unpacking event for its new foldable phones at home in Korea while advancing its launch schedule to earlier than usual, industry sources said Monday. Samsung usually holds two highly publicized launch events for its Galaxy smartphones in US c...
May 23, 2023
Pressure mounts on Korean chipmakers as China restricts Micron chip sales

China is banning its key infrastructure firms from buying products made by US memory chipmaker Micron Technology for failing its security probe. The first such critical ban from the Chinese government comes amid its intensifying rivalry with Washington, and has prompted concerns for Korean chipmak...
May 23, 2023
Samsung-backed Rainbow Robotics seeks bigger footing in US

Rainbow Robotics, in which Samsung Electronics recently secured a total of 14.99 percent stake, is seeking to secure a footing in the US as it participates in this week’s US Automate, North America’s largest automation trade show. The company plans to showcase its five collaborative robots of th...

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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
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