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The Korea Herald

Markets

April 19, 2023
[Herald Interview] Local airports to support boost in inbound travel: KAC CEO

With heightened interest in South Korea’s vibrant entertainment and culture, Korea Airports Corp. CEO Yoon Hyeong-jung vowed to create growth momentum for local airports as regional hubs for international tourism. “During the COVID-19 pandemic, the Korean culture boom has increased the appetite ...
April 19, 2023
[Contribution] Time to push SME-led R&D innovation

By Cho Ju-hyeon Small and midsized enterprises in Korea have shown remarkable progress in innovation in the global markets, pushing the need for systematic support from the government. Of the 20 Innovation Awards winners at the 2023 Consumer Electronics Show held in January, nine were Korean comp...
April 19, 2023
SKT to enter US market with new broadcast solution

SK Telecom announced Tuesday it would enter the American market by providing a next-generation broadcast solution built with mobile edge computing technology to Sinclair Broadcast Group, a provider of local news and sports coverage in the US. MEC refers to the real-time processing of large amounts...
April 19, 2023
Daewoong inks deal with Sygnature Discovery for drug discovery

South Korea’s Daewoong Pharmaceutical said Tuesday it has signed a deal with Sygnature Discovery, a UK-based discovery and preclinical solutions provider, to find potential candidates for autoimmune diseases treatment. Under the agreement, Daewoong Pharmaceutical will use Sygnature Discovery’s d...
April 19, 2023
LG chief orders to bolster leadership in batteries

LG Group Chairman Koo Kwang-mo inspected the cathode manufacturing plant of LG Chem, the group's chemical arm, on Tuesday, checking on the company's global supply strategy amid rising demand in the electric vehicle market. During his visit to the chemical firm's cathode manufacturing plant in Cheo...
April 19, 2023
[KH Explains] Why Kolon bets big on space startups

Fashion and materials conglomerate Kolon Group is eyeing the aerospace business as its driver of future growth, following its belief that the group’s know-how in producing various composite materials will prove competitive in the space sector. Kolon set in motion its vision to foray into the spac...
April 19, 2023
Samsung may ditch Google for Bing

Speculation is growing that Samsung Electronics may be ditching its close ties with Google by replacing the default search engine for its flagship Galaxy devices with Microsoft’s Bing which has been upgraded with OpenAI’s powerful chatbot, ChatGPT. According to industry sources and media reports...
April 19, 2023
SC Bank Korea offers savings account with 3.6% interest rate

Standard Chartered Bank Korea announced Tuesday it has launched a promotion for new clients signing up for its “Jaeil EZ account,” promising first-time customers interest rates of up to 3.6 percent per year, even to those who deposit their funds for a single day. Jaeil EZ account is a high-inter...
April 19, 2023
US strips Hyundai, Kia cars of eligibility for EV tax credits

All Hyundai and Kia cars are no longer eligible for tax credits for electric vehicles in the US amid increased protectionist sentiment there. As the result of the Inflation Reduction Act that took effect in August last year, the US Treasury Department on Monday announced a total of 16 EV models th...
April 19, 2023
Soju's main ingredient posts biggest price jump in 20 years

The price of spirits used to make soju products went up Tuesday, marking the biggest jump in the last 20 years. The price hike comes for a second consecutive year, increasing burdens on local soju makers. Korea Ethanol Supplies Co. said Tuesday it has raised the price by 9.8 percent. The price hik...
April 19, 2023
Korea extends tax cut on fuel for 4 more months

The Korean government will extend the current tax cut imposed on fuel until the end of August, the Finance Ministry announced Tuesday. Fuel tax reductions -- namely a 25 percent cut for gasoline, and 37 percent cuts for diesel and the liquefied petroleum gas butane -- which were to end in April, w...
April 18, 2023
SpaceX seeks tie-up with telecom carriers

US space firm SpaceX, which is set to launch its low-orbit satellite communication service in South Korea within the second quarter, is seeking to work with the major telecom operators here, sources told The Korea Herald Monday. The Elon Musk-owned firm, approaching SK Telecom, KT Corp. and LG Upl...
April 18, 2023
[KH Explains] Why Galaxy Watch won't support Samsung Pay in Korea for some time

The highly publicized debut of Apple Pay last month has prompted unexpected calls in South Korea for Samsung Pay to be usable with the Galaxy Watch. Apple Pay became available in March here nearly a decade after its debut in the US in 2014. All Apple mobile devices, including iPhones and Apple Wat...
April 18, 2023
Woomi Construction invests in Fifth Wall’s proptech fund

Korean construction company Woomi Construction said Monday it has signed a contract to invest in global asset management company Fifth Wall’s Real Estate Technology III for Early Stage Ventures Fund, also called Fund III, on March 31. This decision comes as part of Woomi’s efforts to continue in...
April 18, 2023
China’s reopening has limited impact on S. Korea: BOK

China's reopening has shown limited effects on the South Korean economy, dampening expectations that it would reignite tourism and export industries, a report by the Bank of Korea showed Monday. The trade balance with China, which had been worsening since April last year due to China's lockdowns, ...

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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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