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The Korea Herald

Markets

February 20, 2023
SK Nexilis signs W1.4tr copper foil deal with Northvolt

SK Nexilis, the South Korean copper foil producer under SKC, has inked a supply contract worth up to 1.4 trillion won ($1.08 billion) with Swedish battery maker Northvolt, the company said Sunday. The Korean company’s five-year deal with Europe’s largest secondary battery maker will take effect ...
February 20, 2023
FSS urges tougher regulations for big tech's finance biz

South Korea’s financial watchdog emphasized the need for a stronger regulatory system to prepare for new risks that might arise as big tech companies expand their finance business. “There should be in-depth discussion and research on introducing entity-centered regulations for big tech,” Lee Bo...
February 20, 2023
[Herald Interview] ‘Space technology is matter of state survival’

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
February 20, 2023
Food companies log record sales, but profits lag

South Korean food companies reported robust sales last year, but high raw material prices weighed down their profit growth. In 2022, Korean food companies Lotte Confectionery, SPC Samlip, Ottogi and Nongshim newly joined the short list of Korean food companies who posted annual sales of 3 trillion...
February 20, 2023
SKT, KT to present cutting-edge mobile technology at MWC

The upcoming MWC is slated to take place from Feb. 27 to March 2, with some 1,900 companies from 160 countries participating. This year’s event will focus on the latest advancements in mobile technology, from smartphones and fifth-generation and sixth-generation networks to immersive technology an...
February 19, 2023
[Newsmaker] Time to take the 'human' out of HR?

Prospects of AI in HR “The ability to assess and predict potential is the essence of AI, to which could be applied from sourcing out the most qualified candidate to the annual performance evaluation. Basically, all that requires making an assessment of people, AI could do it,” said Yuk. With th...
February 19, 2023
Samsung officially launches Galaxy S23 series, first in 55 countries

Samsung Electronics, the world's largest smartphone maker by shipment, announced the official launch of its Galaxy S23 series in 55 countries Friday, touting record-breaking preorders in South Korea. Starting sales in 55 countries, which include United States, Britain, Dubai and Australia, the tec...
February 19, 2023
SK geo centric to build S. Korea's first plastic recycling plant in France

SK geo centric, a chemical business subsidiary of SK Innovation, announced Friday it will build a plastic recycling plant jointly with French partners in Saint-Avold, northeastern France. The SK subsidiary said it has selected the plant site together with Suez, a French water and waste management ...
February 19, 2023
KCCI donates $100,000 in aid to quake-hit Turkey

The Korea Chamber of Commerce and Industry said Friday it had given $100,000 in aid to Turkey, which is suffering from untold casualties and destruction after a 7.8 magnitude earthquake hit the country on Feb. 6. Woo Tae-hee, executive vice chairman of the largest business lobby in Korea, visited ...
February 19, 2023
Celltrion, LISCure Biosciences to develop microbiome therapy for Parkinson's disease

Celltrion announced on Friday that the company has signed a joint research and development contract with LISCure Biosciences for a microbiome-based Parkinson's disease treatment. LISCure Biosciences is a Pangyo-based biotech company that conducts research for microbiome-based treatment for Parkins...
February 19, 2023
LG Chem signs lithium supply deal with US-based Piedmont Lithium

LG Chem, South Korea's leading chemical firm, announced Friday that the company has signed a deal to receive 200,000 metric tons of spodumene concentrate from Piedmont Lithium, which will ensure a stable supply of the key material for the company's electric vehicle battery production. Under the de...
February 17, 2023
LG Uplus CEO apologizes for data breach, vows to triple security budget

LG Uplus Chief Executive Officer Hwang Hyeon-sik apologized Thursday over the recent controversy surrounding the company’s data breaches and the internet connection failure caused by cyberattacks, pledging to beef up information security capabilities. “We sincerely apologize to our customers for...
February 17, 2023
[Newsmaker] ChatGPT not to be trusted on Korean names

Artificial intelligence-powered chatbot ChatGPT is all the rage, with the potential to change the way many people work. But for those hoping to get quick answers about Korea from the AI platform, it is not to be trusted, at least for now. As of Thursday, the bot developed by Microsoft-backed OpenA...
February 17, 2023
Posco International reaps profit with Sudan biopharmaceutical biz

Posco International's pharmaceutical joint venture in Sudan reported a profit in 2022, logging sales of 30.1 billion won ($23 million), up 36 percent increase from the year earlier, the firm said Thursday. In its earnings report, the company said General Medicines Co., the Sudanese joint venture i...
February 17, 2023
LG CNS, Kyung Hee University team up for 5G development

Information technology service provider LG CNS said Thursday it is joining hands with Kyung Hee University to jointly develop and expand a 5G network system that can be applied in manufacturing plants and logistics. Earlier in the month, the IT service provider inked an agreement to jointly develo...

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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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