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The Korea Herald

Markets

May 08, 2023
Samsung chief vows to repeat chip success story in biopharma

Samsung Electronics Chairman Lee Jae-yong, the de facto leader of Samsung Group, vowed to boost the nation’s largest conglomerate’s burgeoning biopharma business to "repeat the success story of semiconductors," as he met with heads of major biopharmaceutical companies in the United States, the co...
May 08, 2023
[From The Scene] EV diagnostics key to safety: KITECH

JEJU, Jeju Island -- Amid the booming market for electric vehicles, demand for car maintenance and diagnostics services has been on the rise to prevent fatal accidents on the roads. In a move to offer enhanced diagnostic technology for EV failure and repair, the Jeju Island unit of the state-run K...
May 08, 2023
[From the Scene] Nuri rocket gears up for 1st space delivery

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
May 08, 2023
Employment of women in 30s hits all-time high

The number of female employees who are in their 30s has increased by around 110,000 from a year ago, while that of male workers in the same age group has declined by some 80,000, according to government data, Sunday. According to Statistics Korea and Microdata Integrated Service, the number of fem...
May 08, 2023
German envoy calls for close ties with 'like-minded' Korea in digital tech era

Rep. Yang Hyang-ja, head of the ruling People Power Party's special committee on semiconductors, said Korea should safeguard its chip supremacy in overseas markets, arguing that technology is a matter of sovereignty. “It is a history of overcoming contradictions that Korea has maintained the worl...
May 08, 2023
Kishida confirms Japan working to put S. Korea back on export ‘white list’

South Korean President Yoon Suk Yeol and his Japanese counterpart Fumio Kishida confirmed Japan is in the process of reinstating South Korea to its “white list” of trusted trading partners amid joint efforts to improve bilateral economic ties, the leaders said Sunday. In a joint press conference...
May 07, 2023
20-somethings feeling the pinch from 'family month': survey

May is traditionally a month for a slew of family-oriented celebrations that involve gift-giving and outdoor dining. Regarding the holidays that are concentrated in early May, more than 80 percent of Koreans in their 20s said they feel pressured about having to spend money on holidays in "family m...
May 07, 2023
Choo warns of market volatility as Korea-US gap hits record

The rate gap between South Korea and the United States has reached an all-time high, raising concerns over the local financial market due to higher volatility and uncertainty, Finance Minister Choo Kyung-ho said on Thursday. The US Federal Reserve lifted its base rate by 25 basis points on Thursda...
May 07, 2023
SK Bioscience shares soar after contract deal with MSD

SK Bioscience’s share price soared over 16 percent on Thursday after the company signed a manufacturing deal with international pharmaceutical firm MSD. According to the Health Ministry and SK Bioscience on Friday, SK Bioscience and MSD inked the contract manufacturing deal to produce a vaccine. ...
May 07, 2023
US could become S. Korea’s top trading partner, replacing China

The United States is expected to become South Korea’s top trading partner for the first time in 20 years, replacing China, Korea’s current top export destination, government data showed Friday. According to the Trade Ministry's latest data, South Korea’s exports to China in April decreased by 2...
May 07, 2023
Samsung to develop supercomputer, overtake TSMC in 5 years: Co-CEO

Samsung Electronics co-CEO Kyung Kye-hyun, who oversees the tech giant’s chip business, unveiled the company's five-year plan to develop memory chip-centered supercomputers and catch up with its Taiwan-based foundry rival TSMC. Kyung visited the Korea Advanced Institute of Science and Technology ...
May 07, 2023
LowCarbon strikes partnership with Florida for hydrogen energy biz

A South Korean climate tech company LowCarbon said Friday it struck up a partnership with the state of Florida in a bid to ramp up its efforts to construct research hubs for clean hydrogen technology in the United States and expand its presence in the US hydrogen market. Via a memorandum of agreem...
May 07, 2023
Telehealth availability challenged as pandemic wanes

Six major South Korean business lobby groups issued a joint statement Thursday, calling on the National Assembly to amend related laws to keep telehealth platforms running. The groups, including the Korea Chamber of Commerce and Industry and the Federation of Korean Industries, asked lawmakers to ...
May 07, 2023
Hamburger prices jump 17% in April

Consumer prices for hamburgers rose at the fastest clip in nearly 20 years, according to Statistics Korea data released on Thursday, after major franchise companies raised their prices on the back of increasing expenses on raw materials. Hamburger prices rose 17.1 percent on-year last month, the h...
May 07, 2023
UA Incheon-San Francisco flights to exceed pre-pandemic levels

The number of United Airlines flights from Incheon to San Francisco will exceed pre-pandemic levels starting from June as the Star Alliance member hopes to serve as a connecting bridge among travelers from Korea and the US, according to a top executive at the air carrier. The airline has increased...

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