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The Korea Herald

Markets

March 21, 2023
GI Innovation sets IPO price below target range

GI Innovation, a local biotech firm, said Monday its initial public offering price has been set at 13,000 won ($9.90), lower than the minimum price range that the company targeted. The IPO price was determined after GI Innovation conducted a two-day book-building process targeting institutional in...
March 21, 2023
[K-Financiers] IBK to expand loans for SMEs in Indonesia

This is the third 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. By Song Seung-hyun ( ssh@heraldcorp.com )
March 21, 2023
Kakao suspends AI chatbot service due to 'massive' popularity

Kakao Brain, an artificial intelligence technology research and development subsidiary of Kakao, said Monday it has temporarily suspended its generative AI-based chatbot service, within a day after its open beta release, due to technical glitches. At around 4 p.m. on Monday, Ddmm was unexpectedly ...
March 21, 2023
Kia unveils EV5 concept in China in renewed sales push

Hyundai Motor Group’s Kia on Monday unveiled the concept of its full-electric midsized sport utility vehicle EV5 in China, renewing its sales push in the all-important market where it has struggled to elevate its shrunken market share. The carmaker held the Kia EV Day event, its first media event...
March 20, 2023
Eximbank to boost trade finance for Latin American market

The Export-Import Bank of Korea is making strides to expand its network with financial institutions based in Latin America to clear the path for South Korean companies to enter emerging markets in the region. Eximbank Chairman Yoon Hee-sung attended the 2023 Annual Meeting held by the Inter-Americ...
March 20, 2023
Samsung, SK hynix likely to suffer deficit in Q1 chip business

South Korea's leading semiconductor makers, Samsung Electronics and SK hynix, are likely to post deficits of billions of won in the first quarter of this year amid weakening memory chip prices and higher inventories. Posing great challenges for the firms are accumulated substantial amounts of inve...
March 20, 2023
Starbucks opens new 'socially responsible' cafe in ESG push

Starbucks Korea said Sunday it opened its 13th eco-friendly outlet in the country, as part of its continuous attempts to recycle waste and create jobs for socially disadvantaged people. Called "Zero waste: eco-star cafe," according to Starbucks, the pilot store recently opened in Incheon, and is j...
March 20, 2023
[Herald Interview] Volvo Trucks seeks to woo young, female drivers

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
March 20, 2023
Number of working Koreans past 60 hits record high

A retired police officer, who wished to be identified by his last name Park, 63, believes “60 is the new 40.” “After retiring from my job I started watching over kids as a ‘school sheriff’ at an elementary school nearby. I just was not used to staying at home without a job,” Park told The Ko...
March 20, 2023
Lotte loses Incheon Airport duty-free license bid

Lotte Duty Free, the country's largest duty-free operator in terms of sales, has lost the bidding race for the operational rights of duty-free shops at Incheon Airport. Instead, Lotte's smaller rivals, Hotel Shilla, Shinsegae DF and Hyundai Department Store Duty Free, were shortlisted for the duty-...
March 19, 2023
NPS to vote against Shinhan Financial chairman nominee

South Korea’s public pension fund the National Pension Service said Thursday it would vote against the appointment of former Shinhan Bank President Jin Ok-dong as the new chairman of the Shinhan Financial Group, the nation’s second largest financial giant in terms of total assets. The NPS, the w...
March 19, 2023
Samsung Biologics to invest W2tr for 5th plant

Samsung Biologics said Friday it is investing 2 trillion won ($1.5 billion) to build its fifth production plant as part of efforts to meet market demands and bolster its manufacturing competitiveness. The company announced the plan after an approval from the board of directors earlier in the day. ...
March 19, 2023
HD Hyundai builds industrial alliance for carbon neutrality

South Korea’s HD Hyundai, the world’s largest shipbuilding group, said Friday it is forming the industry’s first alliance for carbon neutrality along with Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, the American Bureau of Shipping and the Korean Register of Shipping. On ...
March 19, 2023
KAI CEO denies sellout rumor

Korea Aerospace Industries will spend 4.5 trillion won ($3.5 billion) in research and development to achieve a quantum jump in the global aerospace industry, according to its CEO on Friday. “In the aerospace industry, you cannot survive if you are not looking ahead 40 to 50 years from now. From t...
March 19, 2023
Yoon calls for Korea-Japan cooperation on chips, batteries

The business leaders welcomed the latest agreement of the two countries, where Japan decided to lift export restrictions on key semiconductor materials to Korea, and Korea said it will withdraw its complaint filed with the World Trade Organization against the export curbs. "We welcome the normaliz...

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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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