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The Korea Herald

Markets

April 27, 2023
Korean battery makers bolster EV alliance in US to tackle IRA

South Korean battery and automakers are shelling out big funds to set up joint ventures for electric vehicle batteries in the US in response to the protectionist Inflation Reduction Act, industry sources said Wednesday. Samsung SDI announced Tuesday it is poised to build a joint venture with Gener...
April 27, 2023
Korea, US ink 23 MOUs to rachet up tech alliance

Business leaders from South Korea and the United States signed dozens of non-binding deals and discuss ways to enhance cooperation in semiconductors, future vehicles and clean energy on Tuesday. During President Yoon Suk Yeol's state visit to the US marking the 70th anniversary of the US-South Kor...
April 27, 2023
Booyoung founder receives medal for contribution to growth in Cambodia

South Korean construction giant Booyoung Group’s Founder and Chairman Lee Joong-keun was awarded the Medal of National Merit by Cambodian Prime Minister Hun Sen on Monday. The medal is the highest honor given by the Cambodian government and is awarded to those who have significantly contributed t...
April 27, 2023
Korea, US agree to bolster ties on bioeconomy

The Korea Biotechnology Industry Organization said Wednesday it has signed an agreement with its US counterpart Biotechnology Innovation Organization to bolster ties in the bio-economy, ranging from supply chain management to research and development. The two organizations signed a memorandum of u...
April 27, 2023
Posco Future M, LG Energy Solution sign W30tr cathode supply deal

South Korean battery materials maker Posco Future M said Wednesday it has inked a deal worth 30.25 trillion won ($22.6 billion) to supply high-nickel cathode to LG Energy Solution, the nation’s largest electric vehicle battery maker, for the next seven years. The mega deal comes after the company...
April 27, 2023
Hyundai, Kia likely to outpace Toyota in Q1 earnings for 1st time

Hyundai Motor Group is highly likely to outpace Toyota in first quarter earnings this year for the first time, according to industry estimates on Wednesday. The South Korean auto giant’s Hyundai and Kia brands posted a combined 6.5 trillion won ($4.8 billion) in operating profits in the first thr...
April 27, 2023
Korea Ginseng Corp. finds more evidence ginseng could help stop Alzheimer’s

Korea Ginseng Corp., the country's leading ginseng manufacturer, said Wednesday that a collaborative research team supported by KGC and Konyang University has found a potential mechanism to reduce cognitive decline in Alzheimer's disease in red ginseng polysaccharides. Alzheimer's is the most comm...
April 26, 2023
LG Energy Solution to set up W600b advanced production line at Ochang plant

LG Energy Solution said Tuesday it will set up an advanced production line at its Ochang plant in a bid to supply more certified battery prototypes to global electric carmakers. Under a 600 billion won ($450.7 million) investment, the battery maker plans to build what it calls a “mother" producti...
April 26, 2023
Apple still in need of Korea-made displays despite production push

US tech giant Apple will likely continue its reliance on Korean-made displays, although it has been making a “sweeping effort” to develop its own components for more direct control over its designs, a report showed Tuesday. According to a report released by the Institute for Information & Commun...
April 26, 2023
[Herald Interview] 2023 Procurement Expo to fuel post-pandemic growth

The Public Procurement Service is gearing up to host the Korea Public Procurement Expo 2023, an annual event which will serve as a platform for companies to showcase their products and technologies and broaden their global footprint in the aftermath of the COVID-19 pandemic. “The 23rd Korea Publi...
April 26, 2023
Meritz ascends to become No. 3 financial group

Meritz Financial Group on Tuesday completed the process of incorporating its nonlife insurance and brokerage affiliates into the group, making it the third-largest financial conglomerate in Korea. After the consolidation, the group's market capitalization is expected to extend to over 9 trillion w...
April 26, 2023
[Herald Interview] Ballantine’s master blender on new whisky expression full of memories

Sandy Hyslop, the master blender behind Ballantine’s, visited South Korea to celebrate the global launch of the first edition of Pernod Ricard's premium whisky series, the 40 Year Old Masterclass Collection. Marking his 40 years in the industry this year, Hyslop is widely known as the master blen...
April 26, 2023
Samsung, Posco join forces to tackle business uncertainties

South Korean steel giant Posco said Tuesday it had signed its first ever long-term agreement with Samsung Electronics in a bid to expand technical cooperation between the two industrial giants and to jointly seek new business opportunities. According to Posco, its Vice Chairman Kim Hak-dong and Sa...
April 26, 2023
S. Korean economy rebounds as consumer spending picks up

South Korea’s economy showed a slight sign of recovery, with 0.3 percent growth in the first three months of 2023 on the rebound of private consumption as the COVID-19 pandemic wanes. The country’s gross domestic product -- the value of all goods and services created -- grew 0.3 percent in the J...
April 26, 2023
Hyundai Motor outpaces Samsung in quarterly earnings for 1st time

Hyundai Motor, the flagship unit of Hyundai Motor Group, said Tuesday it posted record operating profits of 3.6 trillion won ($2.7 billion) in the first three months of this year, outpacing Samsung Electronics in quarterly earnings for the first time. The auto giant reported surprising earnings 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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