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The Korea Herald

Markets

April 21, 2023
Korean battery makers supply 8 out of 10 US tax eligible EVs

South Korean battery makers LG Energy Solution, Samsung SDI and SK On have supplied batteries for roughly 8 out of 10 electric vehicle models eligible for US tax credits, industry sources said Thursday. Of the 22 electric vehicles, 17 models have installed Korea-made batteries, with LG Energy Solu...
April 21, 2023
Samsung, LG resume talks on OLED partnership

Talks for a rare partnership between Samsung and LG appear to have been resumed recently as Samsung seeks to buy LG panels for its latest OLED TVs for the first time, according to industry sources on Thursday. “The two have resumed related talks ... with an aim to sign a deal by the end of the fi...
April 21, 2023
Hyundai Engineering, SK Ecoplant to cooperate on pink hydrogen

Hyundai Engineering announced Thursday that it has agreed to work with US-based reactor and reactor fuel developer Ultra Safe Nuclear Corporation and SK Ecoplant to develop a pink hydrogen production system. Pink hydrogen refers to hydrogen produced by using nuclear power to electrolyze water, spl...
April 21, 2023
[K-food] Harim at forefront of exporting Korean superfood samgyetang

This article is the seventh installment in a series of interviews with global business chiefs of South Korean food companies that are expanding aggressively in overseas markets. -- Ed. Amid the rising demand for healthy foods, South Korea has increasingly exported its traditional superfood samgyet...
April 21, 2023
Korea eyes W20tr boost for secondary battery sector through 2030

South Korea will invest 20 trillion won ($15 billion) in research and development of secondary batteries for electric vehicles through 2030 to secure global competitiveness, the government said Thursday. "Secondary batteries are among the country’s crucial strategic assets, along with semiconduct...
April 21, 2023
Diageo Korea, British Embassy to sponsor Chevening Scholarships until 2026

Diageo Korea said Thursday that it has signed a memorandum of understanding with the British Embassy in Seoul to extend sponsoring the UK government's global scholarships program. Through the extension, the Korean unit of the British drinks group plans to continue to help foster global leaders in K...
April 20, 2023
Hyundai Mobis aims for $1b orders in China this year

Hyundai Mobis, a car parts maker under Hyundai Motor Group, is renewing its commitment to the all-important Chinese market as it showcases its latest technologies at Auto Shanghai 2023, the first large-scale motor show since the COVID-19 pandemic. The company said Wednesday it is holding extensive...
April 20, 2023
EU Chips Act potential boon for Korean parts makers: ministry

South Korea's Industry Ministry said Wednesday the European Union's version of the Chips Act could provide as an "opportunity" for Korean manufacturers. The European Union agreed Tuesday to pass the 43 billion euro ($47 billion) Chips Act aimed at doubling the bloc's share of global chip output, f...
April 20, 2023
Market cap of listed firms jumps 14% in Q1

The total market capitalization of listed firms in Korea rose by 14 percent, or 280 trillion won ($212 billion), during the first quarter of 2023, a report by issued by market tracker Korea CXO Institute showed Wednesday. As the local stock market has been on course for a gradual rebound in the fi...
April 20, 2023
Samsung reclaims No. 1 ranking in global smartphone sales

Samsung Electronics has regained the top spot in the global smartphone market in the first quarter of this year, slightly outpacing its archrival Apple, the No. 1 in the previous quarter, a report showed Wednesday. In the January-March period, Samsung held a market share of 22 percent, followed by...
April 20, 2023
S. Korea backs down on possible tax hike for heated tobacco products

The South Korean government on Wednesday backed down on a possible tax raise for heated tobacco products, just two days after the nation’s finance minister hinted at the possibility of a parliamentary hearing. “(The government) is not currently considering raising the tobacco tax at the moment,”...
April 20, 2023
Philip Morris names new Korea chief

Philip Morris Korea, the Korean branch of US tobacco giant Philip Morris International, said Wednesday that Hanna Yun, former managing director of Philip Morris Australia, has been named its new chief. An industry veteran who has dedicated 27 years to working at Philip Morris and its numerous inte...
April 20, 2023
Genesis BBQ opens new restaurant in California

South Korean fried chicken franchise Genesis BBQ said Wednesday it recently opened a new restaurant in California in an effort to further penetrate the American market. Labeled under the franchise’s brand name “bb.q Chicken,” it is its 35th outlet in California. The restaurant is located in a b...
April 20, 2023
Vietnam's Thai Binh province looks to attract investment from Korea

A delegation from Vietnam held a conference in Seoul on Wednesday to promote the Vietnamese province of Thai Binh's potential to rise as an industrial zone, calling for investments from South Korean companies. The event, co-organized by Thai Binh Provincial People's Committee, the Embassy of the V...
April 20, 2023
Hanwha’s DSME takeover to be approved next week

Hanwha Group’s acquisition of Daewoo Shipbuilding and Marine Engineering is nearing its end as South Korea’s Fair Trade Commission is expected to approve the takeover next week. The antitrust regulator on Tuesday sent Hanwha and DSME the examination report over the acquisition and decided to inc...

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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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