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The Korea Herald

Markets

March 16, 2023
Posco pledges W4b to compensate wartime forced labor victims

Posco, the country's leading steelmaker, said Wednesday the company will donate 4 billion won ($3 million) to a state-led fund to compensate the victims of forced labor during Japan’s colonial rule of Korea. The 4 billion won is part of the 10 billion won it pledged to contribute to the public fu...
March 16, 2023
[Exclusive] CJ crafting fish-shaped Korean-style dumplings

CJ CheilJedang is developing a new Korean-style dumpling, or "mandu," in the shape of "bungeoppang" -- a popular fish-shaped waffle generally filled with red bean paste or cream -- as the food giant looks to expand its future portfolio, according to a source familiar with the matter, Wednesday. Th...
March 16, 2023
LG Innotek CEO wins Gold Tower award

LG Innotek CEO Jeong Cheol-dong received the Gold Tower Order of Industrial Service Merit, the highest honor in the field awarded by the South Korean government, at the annual Trade Day ceremony Wednesday for his notable contribution to the national economy. Jeong was honored for his part in stren...
March 16, 2023
Hyundai becomes world’s third-largest carmaker

Hyundai Motor Group has become the world’s third-largest carmaker in terms of sales, an impressive feat after more than two decades when, in 2000, the South Korean auto giant made it to the global top 10 list. According to its regulatory filing Wednesday, the carmaker sold a total of 6.8 million ...
March 16, 2023
HD Hyundai chairman wins top industrial honor

HD Hyundai Chairman Kwon Oh-gap on Wednesday received South Korea’s highest state industrial award -- Gold Tower Order of Industrial Service Merit -- for his achievements as a business leader in enhancing the country’s shipbuilding industry and promoting the culture of giving. The award ceremony...
March 16, 2023
HanmiGlobal secures new housing deal for Saudi project

South Korean construction management firm HanmiGlobal announced Wednesday that it has signed a new project management deal to oversee the construction of some 20,000 housing units for workers for Saudi Arabia’s Neom City project. The latest deal comes following another deal it struck for building...
March 16, 2023
Korea Ginseng Corp. opens R&D center in US

Korea Ginseng Corp., the country’s leading ginseng manufacturer, said Wednesday it set up a research and development center in California in a bid to continue its development of Korean ginseng customized for the US market and ramp up its sales overseas. KGC said with the new R&D center it plans t...
March 16, 2023
Hyundai Elevator joins bid for smart city project in Indonesia

Hyundai Elevator said Wednesday it is joining a government-led consortium to participate in bidding to win a megacity project in Indonesia, which ranges from construction to mobility and smart city solutions. The consortium, named One Team Korea, is led by Land, Infrastructure and Transport Minist...
March 16, 2023
Fundamentals in focus as Samsung CEO signals continued investment

Separately, at this year's venue, Samsung set up an eco-friendly store selling merchandise made from recycled materials, and installed photo booths to add fun for attendees. Many shareholders were also seen attending with their young children. “I came with my son to show what a shareholders meet...
March 15, 2023
LG CNS, SAP join hands for enterprise software innovation

South Korea’s IT solutions provider LG CNS said Tuesday it has signed a memorandum of understanding with SAP, the German software giant, to bolster their strategic partnership in building next-generation enterprise resource planning, or ERP, solutions. The MOU signing ceremony was held at SAP’s ...
March 15, 2023
Hyundai to acquire GM's auto plant in India

Hyundai Motor Group said Tuesday it is in the early stage of signing a deal to acquire General Motors’ car manufacturing plant in India, the world’s third-largest car market. The Indian unit of Hyundai Motor has signed a term sheet with GM to acquire its automobile plant in Talegaon, the western...
March 15, 2023
Hyundai Motor Group donates W5.2b sleeper buses for firefighters

Hyundai Motor Group has decided to donate eight customized sleeper buses worth 5.2 billion won ($4 million) to the National Fire Agency for the Korea Chamber of Commerce and Industry’s first social responsibility project, the South Korean auto giant said Tuesday. As part of the project, Hyundai M...
March 15, 2023
S. Korea, Dutch trade ministers pledge to bolster ties on chips

Trade ministers of South Korea and the Netherlands on Tuesday agreed to further strengthen bilateral cooperation on various industries, especially in the semiconductors amid growing pressures from the US to curb investment in China. South Korean Minister for Trade Ahn Duk-geun met with Dutch Minis...
March 15, 2023
LG Chem signs $200m pediatric vaccine deal with UNICEF

LG Chem said Tuesday that the company signed a deal with the United Nations Children's Fund to supply two pediatric vaccines. Under the deal, LG Chem will supply $100 million worth of its polio vaccine Eupolio and $100 million worth of pentavalent vaccine Eupenta, which works for five different in...
March 15, 2023
Finance Minister says Korea will keep close eye on SVB collapse

Finance Minister Choo Kyung-ho said the government will closely monitor the collapse of Silicon Valley Bank, which has been sending shock waves across the world for the past few days, amid efforts to calm the local financial market. SVB, a major US bank largely focused on startup loans, went bankr...

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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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