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The Korea Herald

Markets

February 05, 2023
Naver to introduce search GPT in first half of year

South Korean internet giant Naver said Friday it will launch its own generative pretrained transformer, or GPT, for search functions by the end of June, as OpenAI's artificial intelligence chatbot ChatGPT has been taking the tech world by storm. “We are gearing up to handle new search trends, suc...
February 05, 2023
SNT Dynamics inks automatic transmission deal with Turkey's BMC for tanks

South Korean auto parts manufacturer SNT Dynamics said Monday it signed an export deal with Turkish commercial and military vehicle manufacturer BMC to supply automatic transmissions to produce tanks for the Turkish government. BMC is the firm in charge of delivering 1,000 Altays, a Turkish battle...
February 03, 2023
US Fed hike, inflation create rate-setting challenge for BOK

Market expectation of a Bank of Korea rate freeze is growing, after the US Federal Reserve slowed its pace of interest rate increases for the second straight meeting on Wednesday. The US base interest rate climbed to 4.5-4.75 percent per annum as the Fed raised the key rate by 0.25 percentage poin...
February 03, 2023
Samsung bolsters ties with Qualcomm, Google to deter Apple

Samsung Electronics, the world’s largest smartphone maker by shipments, is bolstering ties with global tech giants Qualcomm and Google to build the next-generation extended reality ecosystem, as its archrival Apple, which tops in revenue, is expected to launch a mixed reality headset this year. A...
February 03, 2023
LG Energy Solution to supply commercial EV battery modules to FEPS

LG Energy Solution said Thursday it has forged a partnership with Freudenberg E-Power Systems, a US-based clean energy systems provider affiliated with Germany's Freudenberg Group, to provide battery modules for commercial electric vehicles. Under the agreement, the battery maker will supply 19 gi...
February 03, 2023
Samsung targets double-digit growth in Galaxy S sales

Meanwhile, Samsung has expanded its business partnership with the world’s top IT giants such as Google, Qualcomm and Microsoft under the value of openness. Based on its strategic cooperation, the tech giant has provided the most optimized serviceability to its global users, Roh added. Earlier in ...
February 03, 2023
SK Bioscience's flu vaccine gets approval in Chile

SK Bioscience has obtained product approval for its flu vaccine, Sky Cellflu, from Chile's health authorities, the first green light in a Latin American country, the South Korean vaccine developer said Thursday. Starting with Chile, SK Bioscience is planning to expand the number of countries licen...
February 03, 2023
Cosmetics sales pick up after mask rules eased

Sales of cosmetics products have seen a surge over the past week after the nation’s mask-wearing mandate was lifted here, according to data compiled by Shinsegae International, a local importer of foreign beauty brands, Thursday. US luxury makeup brand Hourglass posted a 149 percent jump in sales...
February 03, 2023
Mask manufacturers face bankruptcy amid eased masking rules

The government’s decision to lift its indoor mask mandate has been welcomed by many, but it is being seen as a giant threat to the survival of mask manufacturers already struggling to stay afloat here. "We are just hanging in there,” Jung, an owner of a small mask manufacturing company, told The...
February 02, 2023
1 in 5 Koreans is Starbucks member

Starbucks Korea, the nation’s No.1 specialty coffee chain, said Wednesday that the cumulative users of its customer membership "Starbucks Rewards" has recently hit the 10 million mark. The figure is twice as high as the 4.1 million members of Twosome Place and the 6 million of Ediya Coffee -- the...
February 02, 2023
Mercedes-Benz Korea pins high hopes on EVs to retain top spot

Mercedes-Benz Korea said Wednesday it will expand electric vehicle models to account for more than 15 percent of total car sales this year, underscoring its green push in the fourth-largest market of the German carmaker. “Last year, EV sales were less than 10 percent of the total sales. But start...
February 02, 2023
Hygiene warning issued for McDonald's stores in Korea

The recent data follows a series of controversies surrounding McDonald's hygiene at franchise stores. On Jan. 25, an online post showing a picture of yarn in a McDonald's McMorning pancake combo stirred controversy. "I bought two McMorning sets with my son, gave him a hotcake, ate a muffin, and a...
February 02, 2023
KT partners with Mongolia's Monnis Group for rare earths

South Korean telecommunications giant KT Corp. announced Wednesday that it has signed a memorandum of understanding with Monnis Group, a Mongolian industrial holding conglomerate, for a joint business venture into the rare earth minerals industry. This comes after another memorandum previously sig...
February 02, 2023
Samsung Galaxy S returns with faster, more eco-friendly design

More color options of graphite, sky blue, red and lime will be added for the Galaxy S23 Ultra, while graphite and lime will be available for the S23 and S23 Plus models for customers who will purchase the devices from the company’s official online shopping mall. The Galaxy S23 Ultra model’s pric...
February 02, 2023
S. Korea logs highest monthly trade deficit amid sluggish chip demand

South Korea reached a record-high monthly trade deficit of $12.69 billion in January, mainly due to weakening global demand for semiconductors, according to data compiled by the Ministry of Trade, Industry and Energy on Wednesday. While outbound shipments fell 16.6 percent on-year to $46.27 billio...

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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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