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The Korea Herald

Markets

May 17, 2023
Major firms’ profits nearly halved in chip downturn

Major companies in South Korea witnessed their operating profit nearly halve on-year in the first quarter this year, as the country’s key semiconductor industry struggles from its worst downturn, a corporate tracker said Tuesday. According to corporate data research institute CEO Score, the combi...
May 17, 2023
LG Chem plans 6-fold growth in battery materials sales

LG Chem CEO Shin Hak-cheol said Tuesday that the company will expand its sales of battery materials to 30 trillion won ($22.4 billion) by 2030, a sixfold increase from 4.7 trillion won in 2022. Shin added the company also aims to make its annual sales from three growth drivers -- battery materials...
May 17, 2023
Nongshim's profits soar on upbeat US sales

South Korean food giant Nongshim saw its profits nearly double in the first quarter, primarily led by its booming business in the US, the company's earnings report said Tuesday. According to Nongshim's regulatory filing, the company's sales and operating profits during the January to March period ...
May 17, 2023
Kia mulls $1b EV expansion of Mexico plant

Hyundai Motor Group’s Kia Motors is in talks to expand the production lines at its Mexico plant as part of efforts to bolster responsiveness to US subsidies for electric vehicles, according to company officials and local authorities on Tuesday. “We are not building a new plant but (we are) consi...
May 17, 2023
[Contribution] Korea-US startup cluster cooperation opens new chapter

By Lee Young SMEs and startups minister President Yoon Suk Yeol’s recent state visit to the US, the first such visit by a South Korean president in 12 years, has proven successful. Along with a joint statement, Korea and the US announced six agreements including the Washington Declaration, while...
May 17, 2023
Closer ties with US, Japan key to geo-economic challenges

South Korea needs to strengthen its trilateral alliance with the United States and Japan in trade and investment to overcome global geo-economic challenges and supply chain disruptions triggered by COVID-19, said Jun Kwang-woo, chairman of the Institute for Global Economics. The COVID-19 pandemic ...
May 17, 2023
TGS Group, The Korea Herald ink deal to work together on art investment

TGS Group’s art investment business unit ArtFin signed a memorandum of understanding with The Korea Herald on Monday in a pledge to share Korean art with the world. Through the non-binding agreement, the two companies will cooperate to create a new wave of art investment, nurture a better environ...
May 17, 2023
GS25 to debut ChatGPT-developed whiskey highball

GS25, the leading convenience store chain in South Korea owned by GS Group, said Tuesday it is launching an artificial intelligence-developed alcoholic beverage -- a first globally -- this week. GS25 has partnered with Brewguru, a startup brewing company, to apply AI-based knowledge in developing ...
May 17, 2023
SK hynix's NAND unit Solidigm names new CEOs

Solidigm, an SK hynix subsidiary and NAND flash memory solutions provider, appointed a data center expert along with a mergers and acquisitions strategist as its new co-chief executive officers, the company said Tuesday. The two new CEOs are David Dixon, senior vice president and general manager o...
May 17, 2023
Thailand's PTT seeks investment, partnerships with Korean tech firms

Thailand's largest conglomerate as well as a state-owned oil and energy company PTT called for investments from South Korean companies, in a bid to forge potential partnerships and scale up its businesses ranging from EVs to semiconductors, during a session organized by the Thai Embassy held in Seo...
May 17, 2023
Ukraine asks Korean businesses to help rebuild war-torn country

Ukraine’s top governmental officials called for Korea to take part in the reconstruction of the war-torn country following Russia's invasion at a meeting held by the Korea Chamber of Commerce and Industry in Seoul on Tuesday. The KCCI held a meeting under the title of “Korea-Ukraine Partnership ...
May 16, 2023
Electricity bills to rise by 5.3% as Kepco battles mounting losses

Electricity rates and gas prices in South Korea will increase by 5.3 percent from Tuesday, to ease the financial burden of cash-strapped state-run energy companies. The electricity rate will go up by 8 won ($0.006) per kilowatt-hour and the gas rate by 1.04 won per megajoule, the government announ...
May 16, 2023
[Test Drive] Face-lifted Rexton boasts powered toughness

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
May 16, 2023
BOK, Samsung join hands for offline payment using CBDC

The Bank of Korea and Samsung Electronics on Monday have joined hands to develop Central Bank Digital Currency technology that enables transactions to be made without internet access. The two sides signed a memorandum of understanding at Samsung’s headquarters in Suwon, Gyeonggi Province to stren...
May 16, 2023
CJ to launch street food lineup overseas

South Korean food giant CJ CheilJedang said Monday it will start selling Korean street food products in major overseas markets, such as North America and Europe, riding a wave of momentum from the booming "K-food" business. The conglomerate will launch six "strategy" Korean street food products in...

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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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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099