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The Korea Herald

Markets

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...
April 26, 2023
Korea Customs Week 2023 to go beyond borders for global cooperation

South Korea's customs agency Korea Customs Service said Tuesday that it will host an international conference in Seoul starting from Wednesday, under the theme of global cooperation and digital customs. Taking place between Wednesday to Friday, Korea Customs Week 2023 will be the first large-scale...
April 26, 2023
Samsung SDI, GM to build $3 bln EV battery plant in US

Samsung SDI Co. said Tuesday it is pushing to build an electric vehicle (EV) battery manufacturing facility in the United States in a joint venture with General Motors Co. The South Korean battery maker unveiled the plan in a regulatory filing, under which the two companies have agreed to invest m...
April 25, 2023
[K-Financiers] KB Global Fintech Lab acts as catalyst for startups' Asia expansion

This article is the sixth installment in a series of interviews on chiefs who run overseas units of Korean asset management, banking and securities companies, examining their key strategies for global expansion. -- Ed. By Song Seung-hyun ( ssh@heraldcorp.com )
April 25, 2023
EcoPro to build cathode plant in Hungary

South Korean battery materials firm EcoPro said Monday it is poised to build a cathode manufacturing plant in Hungary, seeking to establish its footing in the burgeoning European electric car market. Under the 382.7 billion won ($287.2 million) investment, the company plans to produce 108,000 tons...
April 25, 2023
SK On invests W470b to bolster domestic R&D

SK On will invest 470 billion won ($352 million) in expanding its domestic research and development capabilities through 2025, the South Korean battery maker said Monday. According to SK On, the company will upgrade its existing R&D foothold in Daejeon, also known as the Institute of Battery Techn...
April 25, 2023
Samsung, SK under renewed pressure to join US chip battle against China

South Korean chipmakers are facing increasing pressure amid an intensifying US-China rivalry, as Washington has reportedly requested the Korean government to hold back from filling China's shortfalls in chips. Seoul’s presidential office refused to comment Monday over a report from the Financial ...
April 25, 2023
LG Innotek wins Edison Award for ultraslim TV technology

LG Innotek announced Monday it won the 2023 Edison Award in the commercial technology category for its ultrathin Nexlim magnetic component, which plays a crucial role in developing slim high-definition TVs. The world's thinnest magnetic component is used in TV power modules and vehicle chargers fo...
April 25, 2023
Coupang couriers launch labor union, claiming decline in working conditions

Delivery workers of e-commerce giant Coupang's subcontractors have set up a labor union, calling for better working conditions amid the company’s rapid growth in recent years. According to the Korean Confederation of Trade Unions, one of the major umbrella confederations of unions here, the new l...
April 25, 2023
Korea reinstates Japan on fast-track trade 'white list'

South Korea reinstated Japan to its “white list” of trusted trading partners in more than three years in a push to revive economic cooperation between the two countries, the Ministry of Trade, Industry and Energy said Monday. The ministry released a notification on Japan’s restored status in an...
April 25, 2023
Foreign nationals to be allowed to enjoy Sports Toto online

Sports Toto Korea, the operator of the Korean sports betting game Sports Toto, said Monday that foreign residents can now sign up for the official online betting website of Sports Toto starting Thursday. Similar to horse race gambling, Sports Toto is a legal form of sports gambling in Korea in whi...
April 25, 2023
Netmarble to make big China push this year

South Korean online game developer Netmarble said Sunday that the Chinese authorities have recently granted a service license to distribute a new online game based on its mobile role-playing game, “StoneAge World.” China’s National Press and Publication Administration, the agency in charge of l...
April 25, 2023
Hankook Tire speeds up Chinese expansion

Hankook Tire & Technology said Monday that the South Korean tire maker inked a supply contract with Chinese all-electric vehicle manufacturer Leapmotor, expanding the company’s presence in one of the world’s biggest EV markets. According to the Korean company’s announcement, Leapmotor’s sports...

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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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