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The Korea Herald

Markets

March 13, 2023
Kakao to take control over SM

The heated competition to take over leading K-pop agency SM Entertainment seems to have come to a sudden, amicable halt, as IT giant Kakao is set to seize control of the label while its rival Hybe, the K-pop powerhouse behind global sensation BTS, has decided to drop its bid with future cooperation...
March 13, 2023
[KH Explains] Korean battery makers hint at ‘price war’ against Chinese rivals

After years of a high-pricing, premium strategy, South Korea’s top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are increasingly turning their eyes to low-priced batteries in an apparent move to prevent ceding more market share to their fast-growing Chinese rivals in the so...
March 13, 2023
Samsung SDS renews vision for cloud leadership

South Korea’s IT services firm Samsung SDS on Friday unveiled a renewed vision for its burgeoning cloud business, touting itself as the nation’s only “hybrid” service provider that offers integrated hardware and software solutions for corporate clients. “Cloud computing itself is inherently c...
March 13, 2023
Coupang withdraws from Japan to focus on Korea, Taiwan

South Korean e-commerce giant Coupang is expected to withdraw from the Japanese delivery service market later this month and to focus more on expanding its business in Korea and Taiwan, according to news reports Sunday. Japan's Nihon Keizai Shimbun, or more commonly known as the Nikkei, reported S...
March 13, 2023
[Beyond Earth] Hanwha looking long-term with space business

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
March 12, 2023
Hyundai E&C begins petrochemical project

Hyundai Engineering & Construction and Hyundai Engineering have officially embarked on a project to build the largest petrochemical facilities to date in the South Korean city of Ulsan. The plan, dubbed “the Shaheen Project,” is the construction of high value-added petrochemical production facil...
March 12, 2023
Korean auto, battery sectors brace for EU-first act

South Korean automotive and battery companies are closely monitoring the soon-to-be-unveiled European Union’s Critical Raw Materials Act as the new regulation intends to strengthen the availability of critical raw materials and enhance the regional supply chain. For Korean businesses, the EU’s C...
March 12, 2023
Daewoo E&C secures W1tr deal to build power plants in Libya

Daewoo Engineering & Construction announced Friday that the company has secured a deal to build gas-fired power plants in Libya. The construction deal, which Daewoo E&C signed with General Electricity Company of Libya, is worth $790 million (1 trillion won), the company added. Under the deal, Dae...
March 12, 2023
BlackRock emerges as Samsung Securities’ 3rd-largest shareholder

US-based investment management firm BlackRock has become the third-largest shareholder of South Korean brokerage house Samsung Securities, a filing showed Thursday. BlackRock’s 12 affiliated entities hold a total of 5.46 percent stake (4.87 million shares) in Samsung Securities as of Feb. 28, acc...
March 12, 2023
SK Geocentric readies world’s 1st plastic recycling complex

SK Geocentric, a chemicals unit under South Korean conglomerate SK Group, said Friday it has completed technological preparations for the Ulsan Advanced Recycling Cluster with its US partner, Purecycle Technologies. The Ulsan Advanced Recycling Cluster is expected to be the world’s first plastic ...
March 10, 2023
Sulwhasoo partners with the Met to promote K-culture

South Korean beauty giant Amorepacific's luxury skin care subsidiary Sulwhasoo said Thursday it signed a partnership with the Metropolitan Museum of Art in a bid to conduct various collaborative works with the New York-based art museum, including the preservation of Korean cultural artifacts. Sulw...
March 10, 2023
OLED TV war looms as Samsung returns after 10-year hiatus

Samsung Electronics on Thursday debuted its first organic light-emitting diode TVs in a decade at home, making official its comeback to the fast-growing premium TV segment, which is currently dominated by its crosstown rival, LG Electronics. The tech giant held a media event at its headquarters in...
March 10, 2023
Hyundai Motor sets ambitious goals to beef up domestic output

Hyundai Motor Co. on Thursday laid out its goals to ramp up domestic production and exports to the highest figures since the COVID-19 pandemic began three years ago, showing the auto giant’s willingness to overcome various economic and geographical uncertainties. The record-high targets were anno...
March 10, 2023
SK Networks secures stake in US AI startup

SK Networks said Thursday it has committed a total of $22 million in both direct and indirect investments to secure a 2.6 percent stake in the recent Series C funding round held for Humane, an AI startup founded by ex-Apple employees through the company’s investment subsidiary Hico Capital. This ...
March 10, 2023
Ex-TSMC engineer joins Samsung’s chip packaging team

Samsung Electronics has hired veteran engineer Lin Jun-cheng, who previously worked at the tech giant’s foundry rival, Taiwan-based TSMC, according to local reports on Thursday. Lin was recently appointed as senior vice president of the advanced packaging team under Samsung’s chip business divis...

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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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