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The Korea Herald

Markets

March 31, 2023
Korean chips act aims to extend tax cuts for local chipmakers

South Korea on Thursday passed a revision bill deemed the “Korean chips act” with greater tax breaks for investments in the semiconductor industry to lighten the burden for Korean chipmakers competing in the global chips arms race. The National Assembly passed a revision bill to the Restriction ...
March 30, 2023
[KH Explains] Why Korea is pushing for World Government Bond Index inclusion

South Korea is expected to join the World Government Bond Index in September, a crucial step for it to attract more foreign funds, according to industry sources on Wednesday. WGBI, managed by Financial Times Stock Exchange Russell, is one of the three major government bond indices, along with the ...
March 30, 2023
Korea cuts tourist red tape, aims to triple visitors this year

South Korea will exempt visa-free foreign entrants from using the electronic travel authorization system, or K-ETA, normally required when entering the country until next year, in a bid to rekindle tourism, the Finance Ministry said Wednesday. Of 112 visa-waiver countries, the exemption scheme for...
March 30, 2023
KB earns top rating for ESG management

KB Financial Group announced Wednesday that it earned the title of the first and only Korean financial firm to receive the top AAA rating on the 2022 MSCI ESG Index -- an index organized by Morgan Stanley Capital International which evaluates companies based on their environmental, social and gover...
March 30, 2023
Hyosung chairman named CEO of the year

Hyosung Group Chairman Cho Hyun-joon on Tuesday received the 38th CEO Grand Prix, one of the top honors given to business leaders in Korea, the textile-to-energy giant said Wednesday. The annual award, presented by the Korean Academic Society of Business Administration, has honored entrepreneurs w...
March 30, 2023
[Beyond Earth] ‘Korea needs to join inner club of space powerhouses’

South Korea needs to join the “inner club of global space powerhouses” by developing unmatched space technology and becoming an attractive partner within the club, according to the first vice minister of the Ministry of Science and ICT. “There are areas where we need to stand on our own in term...
March 30, 2023
LX Hausys inks strategic partnership with Belgium’s Reynaers Aluminium

Korean building materials company LX Hausys said Wednesday it will cooperate with Reynaers Aluminium, a Belgian manufacturer of aluminium products, in a bid to accelerate its entry into the domestic aluminum window market. With a memorandum of understanding signed with Reynaers Aluminium in the he...
March 30, 2023
Celltrion chairman hints at aggressive M&As this year

Celltrion's founder and returned chairman Seo Jung-jin said the company will be able to secure some 5 trillion won ($3.8 billion) for mergers and acquisitions of pharmaceutical and biotechnology firms, through which the company aims to boost its new drug development capability. The company also pla...
March 30, 2023
Trade minister vows support for global firms

Trade, Industry and Energy Minister Lee Chang-yang pledged to make Korea a top investment-friendly country in the world during the 5th AmCham Doing Business in Korea Seminar 2023 held at the Grand Hyatt Seoul on Wednesday. “Through various efforts such as establishing a support system for boostin...
March 30, 2023
[History through The Korea Herald] From $10b to $680b: S. Korea’s glory road to export-driven prosperity

“Textile exports declined in relative terms in the 1980s, replaced by consumer electronics, computers and semi-conductors as lead exports. In 1983, the first Hyundai cars were exported,” the report by Seth showed. "By then, the country had become one of the largest shipbuilders and steel exporter...
March 30, 2023
Upgraded Hanmac released

South Korea’s top brewer, Oriental Brewery, said Wednesday it is releasing an upgraded version of Hanmac, its Korean rice-based lager beer that made its grand debut in 2021. Hanmac was launched as “Korea’s most representative lager project” to celebrate the 100th anniversary of the nation’s b...
March 30, 2023
SK hynix CEO says won't cut production further

SK hynix, the world's second-largest memory chip maker, will not carry out an additional cut in chip production this year, and will stick to its plan to build an advanced packaging plant in the US, the company's chief executive officer said Wednesday. Speaking at a shareholders meeting at the comp...
March 30, 2023
LG Innotek develops upgraded vehicle communication module

LG Innotek said Wednesday it has successfully developed an upgraded vehicle-to-everything communication module that drastically improves data transmission speed. The second-generation 5G network-based module, using Qualcomm chips, is considered a crucial safety component for autonomous driving. T...
March 30, 2023
McKinsey promotes Hyejin Kang to senior partner in Seoul office

McKinsey & Co., a global consulting firm, said Wednesday it has promoted partner Hyejin Kang to senior partner. Kang, who assumes the role on April 1, holds a bachelor's degree in microbiology from Seoul National University and a doctorate in neuroscience from the California Institute of Technolog...
March 29, 2023
The global banking crisis and world economy

By Jeffrey D. Sachs The banking crisis that hit Silicon Valley Bank at the beginning of March has now spread rapidly and widely. We recall with a shudder two recent financial contagions: the 1997 Asian Financial Crisis, which led to a deep Asian recession, and the 2008 Great Recession, which led t...

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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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