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The Korea Herald

Markets

February 10, 2023
Posco donates $1m to Turkey earthquake relief

Korean steelmaking conglomerate Posco Group has pledged to donate $1 million to the Korean Red Cross to support emergency relief efforts in Turkey after a massive earthquake hit the country Monday. The group operates three facilities in Turkey, including the stainless steel plant Posco Assan TST, ...
February 10, 2023
KT to restart recruiting process for next CEO

South Korea’s telecom giant KT Corp. said Thursday it will restart the appointment process for its new CEO, accepting applications from potential candidates until Feb. 20. Earlier in December, the company’s CEO candidate review committee appointed the incumbent CEO, Ku Hyeon-mo, as the final can...
February 10, 2023
Court orders Namyang to hand over controlling stake to Hahn & Co

An appellate court on Thursday ordered Namyang Dairy Product to sell its controlling stake to private equity firm Hahn & Co. to abide by a binding contract signed by the two in 2021. The Seoul High Court upheld the lower court's decision in favor of Hahn & Co., dismissing the appeal filed by Namya...
February 10, 2023
JB Financial Group posts record-high net profit in 2022

JB Financial Group said Thursday its net profit hit a record high last year on higher net interest income and operational efficiency. The financial group logged 601 billion won ($477.5 million) in net profit in 2022, up 18.6 percent from a year ago, according to its earnings report. The amount mar...
February 09, 2023
S-Oil donates W1b for heating bill relief

South Korean oil refinery company S-Oil announced on Wednesday that it has donated 1 billion won ($793,000) to the Korea National Council on Social Welfare to help vulnerable households affected by the recent spike in winter heating bills. The donation will be used to provide heating cost relief f...
February 09, 2023
SK Innovation board chief stresses governance innovation

Kim Jong-hoon, chairman of the board of directors at South Korea’s largest energy company SK Innovation, asserted that the company will continue to set a global example on governance structure. In an interview Wednesday with the firm’s official news channel SKinno News, Kim cited the independenc...
February 09, 2023
[KH Explains] Why Samsung won't call production cut ‘a cut’

While the global chip industry is struggling to make ends meet amid sluggish demand and price falls, Samsung Electronics, the world’s largest memory chipmaker, said it will keep spending at a similar level to last year. Adding to that is that the tech giant has no plans to seek an "artificial cut...
February 09, 2023
Philip Morris bets big on low-priced Iqos

By Lee Yoon-seo ( yoonseo.3348@heraldcorp.com )
February 09, 2023
Shinhan Bank taps incumbent vice chief as next CEO

Shinhan Bank Vice President Jung Sang-hyuk has been tapped as the next CEO of Korea’s No. 2 lender by total assets on Wednesday, following the abrupt departure of its chief. Shinhan Financial Group appointed Jung as the sole candidate for the top position of its flagship banking unit Shinhan Bank...
February 09, 2023
Kyobo Life Insurance pushes to set up holding unit

Kyobo Life Insurance, one of Korea's leading life insurers, said Wednesday that it will convert itself into a financial holding company before the end of next year in a bid to expand its business portfolio into other financial sectors. The company seeks to seize new business opportunities as the c...
February 09, 2023
Hana Financial vows $300,000 for Turkey aid

Hana Financial Group announced Wednesday that it has delivered a total of $300,000 in emergency relief to help victims of a deadly earthquake in Turkey and Syria and the ongoing rescue and restoration efforts there. Hana, which has 206 regional branches in 25 regions worldwide, is the only local c...
February 09, 2023
Shinhan reclaims top financial group crown after three years

Shinhan Financial Group reclaimed the top position among financial firms in Korea by posting net profit outpacing other players last year. According to Shinhan's earnings report released Wednesday, its net profit marked 4.64 trillion won ($3.68 billion) in 2022, surpassing its cross-town rival KB ...
February 09, 2023
LG Electronics makes big B2B push

LG Electronics CEO Cho Joo-wan recently visited the US and Europe to strengthen the company’s presence in the global business-to-business market, seeking ways to expand partnerships with its major clients, the tech firm said Wednesday. Beginning with his attendance at this year’s Consumer Electr...
February 09, 2023
Apple Pay to kick off service in Korea after years of rumors

Meanwhile, Hyundai Card Vice Chairman Chung Tae-young has been hinting on social media since Jan. 14 that the Korean card company will soon provide Apple Pay. After posting a picture of apples with a caption that says "Lovely Apple" in January, which immediately reignited speculations of Apple Pay...
February 09, 2023
VW to recall 74,000 cars over faulty warning triangles

Volkswagen Korea will recall more than 74,000 cars over faulty warning triangles, the Ministry of Land, Infrastructure and Transport said Wednesday. Starting from Friday, the Korean unit of the German carmaker plans to issue a recall on a total of 74,809 vehicles across 27 car models that were sol...

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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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