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The Korea Herald

Markets

May 14, 2023
Kepco chief offers to resign amid deficit woes

Korea Electric Power Corp. President and CEO Cheong Seung-il offered to resign Friday, as the state-operated power utility firm announced a 25 trillion won ($18.7 billion) self-rescue measure to overcome swelling deficit. Cheong's resignation came after Kepco announced its self-rehabilitation plan...
May 14, 2023
Mavek, SAP to host global semiconductor webinar on June 8

Investment advisory firm Mavek and multinational software company SAP will jointly host a global semiconductor webinar on June 8, which will shed light on the semiconductor industries in Japan, Korea and Taiwan. Titled “Taiwan, Japan, & South Korea -- Where do they head?” -- the upcoming webinar...
May 14, 2023
Coupang quickly catches up to retail giant Shinsegae

South Korean e-commerce firm Coupang is catching up with Shinsegae, one of the country's largest and oldest retail players, by closing the sales gap to less than 10 billion won ($7.5 million) from 1 trillion won a year ago, according to their earnings reports Friday. The 13-year-old e-commerce ope...
May 14, 2023
Hanwha Aerospace, KT added to MSCI Korea Index

Four Korean companies -- Hanwha Aerospace, Cosmo Advanced Materials, KT and Posco International -- were included to the Korean index powered by US index provider Morgan Stanley Capital International on Friday. The much-anticipated inclusion of battery material firm EcoPro fell through due to its r...
May 12, 2023
KDI slashes Korean economy's growth rate to 1.5% for 2023

The Korea Development Institute, a South Korean state-run think tank, lowered the nation’s growth rate for 2023 to 1.5 percent from 1.8 percent in its previous outlook due to weak exports. The KDI projected Korea's economy will grow by 0.9 percent in the first half of 2023. It is expected to see ...
May 12, 2023
NHN records on-year profits in Q1

South Korean information technology company NHN Corp. on Thursday said its first-quarter operating profit rose 23.1 percent on-year to 19.1 billion won ($14.5 million) mainly owing to steady growth in the revenue of its gaming and payment services. Net income came to 25.6 billion won ($19.3 millio...
May 12, 2023
Speculation over Samsung Pay turning to paid service intensifies

Samsung Electronics' recent decision not to renew its existing contract with local card companies for its mobile payment service Samsung Pay has sparked speculations that the company might start charging fees for the service. Under the previously signed contract with a local card issuer, Samsung E...
May 12, 2023
OLED rivalry of Samsung, BOE expands into patent war

As display panel makers of South Korea and China are vying to win greater global market share, the rivalry appears to be expanding into a patent war. Chinese top display panel manufacturer BOE Technology and two of its subsidiaries recently filed six lawsuits against Samsung Display and its five C...
May 12, 2023
Samsung SDS joins hands with o9 Solutions, Emro for SaaS solution

Samsung SDS announced Thursday that it has formed strategic partnerships with o9 Solutions, a US-based planning platform provider, and Emro, a Korean Supplier Relationship Management vendor, in a bid to jointly develop global SRM Software as a service solution. Samsung SDS said it plans to complet...
May 12, 2023
Google takes aim at Samsung with first foldable phone

US tech giant Google unveiled its first foldable smartphone, the Pixel Fold, at its annual I/O developer conference in California Wednesday, aiming to challenge the dominance of Samsung Electronics in the global market. While Chinese smartphone makers such as Huawei, Oppo, Vivo and Xiaomi have fol...
May 12, 2023
Starbucks Korea delays free gift event after toxic bag debacle

Starbucks Korea is putting off its summer promotional event for 2023 in order to carry out tougher product inspection in the aftermath of the massive recall of a promotional product that contained toxic, carcinogenic chemicals last year. The seasonal promotional event, called the “e-frequency” r...
May 12, 2023
CJ Logistics to build distribution center in Saudi Arabia

South Korea’s CJ Logistics said Thursday that the company will invest around 60 billion won ($45.4 million) to establish a global distribution center in Saudi Arabia, the Middle East's rising logistics powerhouse. The distribution center will be located in Riyadh’s Special Integrated Logistics Z...
May 12, 2023
Hyundai Motor gobbles 55% of hydrogen fuel-cell vehicle market in Q1

South Korean automaker Hyundai Motor captured more than half of the global hydrogen fuel-cell vehicle market in the first quarter, according to energy market tracker SNE Research on Thursday. A total of 3,737 hydrogen fuel-cell vehicles were sold worldwide in the first three months of 2023, up 4.5...
May 11, 2023
S. Korea's current account logs first Q1 deficit in 11 years

South Korea’s current account balance in the first three months of 2023 posted a deficit for the first time in 11 years due to sluggish exports, Bank of Korea data showed Wednesday. Though the country posted a current account surplus in March, the first quarter recorded a deficit of $4.46 billion...
May 11, 2023
Apple Pay available at Starbucks stores

Starbucks Korea, Korea’s top specialty coffee chain, now accepts Apple Pay, Apple’s mobile payment service, as of Tuesday. Starbucks Korea is the second retailer under Korean retail giant Shinsegae Group to implement the near-field communication system for Apple Pay following E-mart24, Shinsegae...

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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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