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The Korea Herald

Markets

March 29, 2023
Incheon Airport boasts logistics leadership

Incheon Airport marks its 22nd anniversary on Wednesday this year, celebrating a rebound in international travel and cargo shipping after the pandemic upended air travel for three years. Despite the setback, it has maintained its status as the second-largest logistics hub in Northeast Asia, Incheo...
March 29, 2023
2024 budget to boost defense, welfare spending

South Korea will continue to tighten its belt by reducing more than 10 percent of its discretionary expenditure while planning to funnel the budget into boosting national security and creating jobs for young people. Next year's budget plan is expected to remain at around 670 trillion won ($515.9 b...
March 29, 2023
[From the scene] Hype vs. reality of Apple Pay in Seoul

Last Sunday in Seoul’s bustling Hongdae district, a couple in their 20s walked into a crowded Baskin Robbins store, and inquired if they could pay using Apple Pay. Moments later, their payment went through and their faces beamed with joy. “The hype was real. It (Apple Pay) is so fast and conven...
March 29, 2023
KITA warns of trade deficit of $41b as exports slump persists

The Korean trade lobby group on Tuesday warned that Korea's trade deficit could expand by up to $41 billion by the end of the year in the worst-case scenario. If South Korea's export slump persists until the end of the year, Korea International Trade Association sees that the annual export volume ...
March 29, 2023
GS Group joins forces to support Busan’s Expo bid

Energy-to-construction conglomerate GS Group said Tuesday it has hung banners supporting Busan’s bid to host the 2030 Expo outside the office buildings of its key affiliates. The group hung a large promotional banner at the entrance of the main gate of GS Tower, its headquarters in Yeoksam-dong, ...
March 29, 2023
Mirae Asset Securities unveils 2023 outreach plans

South Korea’s largest investment bank and securities firm Mirae Asset Securities on Tuesday unveiled plans for this year’s social contribution activities that all employees, including Chairman Choi Hyun-man, will carry out throughout the year. In March, the company plans to publish environment-r...
March 29, 2023
LG Display secures W1tr from sister unit

LG Display has decided to borrow 1 trillion won ($770.1 billion) from LG Electronics to secure operation funds, as the Korean display maker struggles to make ends meet amid sluggish demand. In a regulatory filing on Monday, LG Display said it decided to borrow 1 trillion won from LG Electronics at...
March 29, 2023
Incheon Airport CEO resigns under political pressure

Incheon International Airport Corp. CEO Kim Kyung-wook offered his resignation on Tuesday, citing political pressure from Transport Minister Won Hee-ryong. “I have expressed my intention to resign to the Land, Infrastructure and Transport Minister on March 23 that I will be stepping down from the...
March 29, 2023
[Herald Interview] BAT’s design chief pursues perfection in simplicity

BAT's design philosophy for heating tobacco products centers around perfecting the user experience and simplicity, rather than complicated designs, says the head of design at global tobacco giant British American Tobacco. "My priority when designing heating tobacco products was that the item shoul...
March 29, 2023
KT, LS tie-up gains momentum

KT Submarine, a marine business unit of South Korean telecommunications giant KT Corp., is gaining fresh momentum in sales. The company posted 42.8 billion won ($33 million) in sales last year, a 43.2 percent jump from a year ago, largely driven by global orders in key markets such as the US and t...
March 29, 2023
Boryung sets up space mission JV with Axiom Space

Major South Korean health care company Boryung said Tuesday it signed a contract to establish a joint venture with US commercial space station developer Axiom Space, in a bid to ramp up its space business. With the JV, which is scheduled to be established by May, Boryung said it will actively sear...
March 29, 2023
LG Chem to invest W10tr by 2025

LG Chem, a leading South Korean chemical company, announced Tuesday that the company will invest 10 trillion won ($7.7 billion) in its three business categories of batteries, drugs and sustainable energy solutions. With the investment, LG Chem aims to post 30 trillion won in annual sales by 2030, ...
March 29, 2023
GoldenBlue blames Carlsberg for canceling sales contract ‘unilaterally’

GoldenBlue, a South Korean whiskey maker and distributor of imported liquor products, said Tuesday that Carlsberg Group "unilaterally" terminated their contract for the distribution of Carlsberg beer in Korea earlier this month. The company said it will stop selling Carlsberg beer products from Fr...
March 28, 2023
[K-Financiers] ‘Vietnam’s rising middle class will drive growth of capital market’

This is the fourth installment of 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. Though Vietnam’s financial market has not yet matured, when it does, it will come out...
March 28, 2023
Korea mulls measures to spur spending amid inflation woes

The government is expected to unveil its scheme to invigorate domestic spending and tourism this week, amid stagnant exports struggles, to shore up the economy. The Ministry of Economy and Finance and Ministry of Culture, Sports and Tourism are drawing up measures chiefly aimed at reviving the loc...

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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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