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The Korea Herald

Markets

March 07, 2023
Hanwoo farmers feel pinch of inflation

Wholesale prices of hanwoo, or Korean beef, a highly coveted luxury food item among South Korean consumers, are estimated to drop further this year due to increased supply but sagging demand amid widespread inflation fears. According to the Korea Rural Economic Institute Monday, the wholesale pric...
March 07, 2023
Posco to join recovery projects in typhoon-hit areas

South Korean steel giant Posco said Monday it is teaming up with North Gyeongsang Province for recovery efforts in the areas inflicted by Typhoon Hinnamnor last year. Officials of Posco and the local government signed an agreement in Andong, the provincial capital, earlier in the day, with Posco V...
March 07, 2023
Trade minister, chipmakers to hold meeting on US CHIPS Act

South Korean Trade, Industry and Energy Minister Ahn Duk-geun will meet with officials of major semiconductor companies, including Samsung Electronics and SK hynix, Tuesday to discuss countermeasures to the US CHIPS Act and its requirements, according to the ministry on Monday. The meeting aims to...
March 06, 2023
Open Corp. hires celebrity sommelier in premium push

Korean restaurant chain operator Open Corp. said Friday it has recruited a seasoned sommelier as its new executive director to provide premium F&B services. With Kim Hyup taking office, the firm plans to foster some 300 sommeliers through internal employee training. "The company's goal in 2023 is...
March 06, 2023
Samsung SDI, GM to form EV battery alliance

South Korean battery maker Samsung SDI and US auto giant General Motors will build a joint battery manufacturing plant for electric vehicles in the US with an investment worth up to 5 trillion won ($3.8 billion), according to reports Sunday. The battery alliance, which will mark the first collabor...
March 06, 2023
Samsung Bioepis launches Lucentis biosimilar in Canada, Germany

South Korean biotech firm Samsung Bioepis is expanding into the global market with SB11, a biosimilar drug used to treat ophthalmologic diseases such as macular degeneration. According to industry sources on Sunday, SB11 was introduced to the Canadian market last Wednesday through its partner comp...
March 06, 2023
China buys fewer Korean goods amid waning perception: report

The number of Chinese consumers who bought Korean products plummeted last year amid China's falling perception of Korea-made commodities, according to a survey conducted by the Korea International Trade Association. KITA conducted a survey on 1,000 consumers living in 10 major Chinese cities to ga...
March 06, 2023
9 in 10 experts predict housing slowdown this year

More than 90 percent of real estate experts predicted a decline in housing prices this year, while 1 in 2 said the housing market could see a rebound next year, according to a KB Financial Group report released Sunday. The report said transaction prices of houses nationwide fell 1.8 percent last y...
March 06, 2023
Chip inventory hits 26-year high

South Korea's semiconductor inventory has increased to its highest point in 26 years, data showed Sunday, hammered by the sluggish demand for chips, the country's main export item, amid economic uncertainties. According to data compiled by Statistics Korea, the inventory to sales ratio of chips pr...
March 05, 2023
[Weekender] Why soju price hikes are causing Koreans so much anguish

The image of soju being a cheap drink has lingered since then. Soju prices were kept lower even after South Korea became self-sufficient in rice in the late 1970s. In 1974, a bottle of soju was close to 100 won, while a bottle of beer was priced over 200 won. People got used to the taste of the c...
March 05, 2023
Medytox's BTX patent could face invalidation trial in US

A patent regarding Medytox’s botulinum toxin product can be embroiled in another legal dispute as its domestic rival Hugel filed for a patent invalidation in the US, according to industry sources on Friday. The patent, which could be considered for invalidation at the Patent Trial and Appeal Boar...
March 05, 2023
Celltrion Group’s retired founder Seo Jung-jin returns to management

Seo Jung-jin, the founder and the honorary chairman of Celltrion Group, will return to management after leaving the company in 2021, Celltrion announced Friday. On Friday, the biopharmaceutical group's key affiliates -- Celltrion Holdings, Celltrion, Celltrion Healthcare, and Celltrion Pharma held...
March 05, 2023
Competition heats up for first Hyundai factory job openings in decade

Tens of thousands of job seekers have flocked to the Hyundai Motor Group website after the carmaker announced it would recruit production line workers for the first time in a decade, the company said Friday. More than 30,000 people visited the carmaker's recruitment page on the first day of applic...
March 05, 2023
Samsung’s global DRAM market share inched up; revenue plummeted in Q4

As global chipmakers struggle with a severe market downturn, Samsung Electronics managed to maintain its market share while seeing a sharp loss in revenue, data showed on Thursday. According to market tracker TrendForce, global DRAM revenue fell by 32.5 percent in the fourth quarter of 2022, when ...
March 05, 2023
Naver's Webtoon ranked one of world's most innovative platforms

Webtoon, South Korean tech giant Naver’s digital comics platform, has been ranked No. 8 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2023. Fast Company is a monthly American business magazine that publishes an annual ranking of the most innovative companies, this year i...

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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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