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The Korea Herald

Markets

January 26, 2023
LG denies decision to pull out of 4th battery plant with GM

LG Energy Solution on Wednesday denied earlier reports on the alleged decision to put a pause on the joint plan with General Motors to build a fourth battery cell manufacturing plant for electric vehicles in the US. “The two companies are still in discussions about Ultium Cells’ fourth plant in ...
January 26, 2023
Korean biotech lobby expresses concerns over Biden executive order

The Korea Pharmaceutical and Bio-pharma Manufacturers Association on Friday sent a written opinion to the US government, in which the business lobby raised concerns over the Biden administration's executive order aimed at bolstering domestic production of biotechnology and biomanufacturing products...
January 26, 2023
Lotte Duty Free wins rights to run Melbourne Airport shops

Lotte Duty Free said Wednesday it clinched a 10-year contract to become the new operator of Melbourne Airport duty-free shops, in a bid to make further inroads into the Oceania market. According to the South Korean duty-free goods retailer, starting June 1, Lotte will offer a duty-free experience ...
January 26, 2023
SK hynix develops world’s fastest DRAM for mobile devices

South Korean chipmaker SK hynix said Wednesday it has developed the world’s fastest mobile DRAM chips that have already been delivered to customers. The new product, named Lower Power Data Rate 5 Turbo, or LPDDR5T, operates at a data rate of 9.6 gigabits per second, 13 percent faster than the pre...
January 26, 2023
Celltrion becomes largest shareholder of Iksuda Therapeutics

South Korean drugmaker Celltrion announced on Wednesday that it has increased its stake in British biotechnology firm Iksuda Therapeutics to 47.05 percent through direct investment and a fund formed with Mirae Asset Capital. This decision has made Celltrion and the Mirae Asset Celltrion New Growth...
January 26, 2023
Woori leads Korean banks in overseas sanctions in 2022

Woori Bank’s overseas subsidiaries received the most penalties last year among South Korea's top four commercial banks, according to DART, the Financial Supervisory Service's electronic disclosure board, on Wednesday. In 2022, Woori Bank that operates 11 overseas branches received a total of six ...
January 26, 2023
Hyundai-Kia EVs post double-digit market share in Europe

Hyundai Motor Group recorded double-digit market share last year in 10 European countries, stepping up as the fourth-largest carmaker to have sold battery-powered electric vehicles, data showed Wednesday. Hyundai and its affiliate Kia sold a total of 96,988 EVs with a 10 percent market share in 10...
January 25, 2023
Hyundai surpasses 1 million EV sales

Global cumulative sales of Hyundai Motor Group’s electric vehicles have surpassed the 1 million milestone, according to the South Korean automaker Tuesday. The automaker achieved the milestone 11 years after it began selling EVs in 2011. Hyundai Motor and its premium brand Genesis have sold 601,4...
January 25, 2023
Key takeaways of eased rules for foreign investors

South Korean financial authorities have announced a set of new rules, including abolishing the decades-old investor registration system, in a move to create a welcoming environment for foreign investors. According to the Financial Services Commission, foreign investors hold around 30.7 percent of ...
January 25, 2023
Popeyes makes strong Korean comeback

US fried chicken fast food chain Popeyes is reporting strong sales after its return to the South Korean market. According to Silla Group, the operator of Korean Popeyes outlets, more than 5,000 customers visited its Gangnam branch during the first three days of the chain's relaunch, which took pla...
January 25, 2023
Will Samsung, Hyundai clash over robots?

South Korea’s two major conglomerates, Samsung and Hyundai, have long been keeping their distance as they avoid competing head-on in their core businesses. But the decades-old unspoken rule may be ending in robotics, a burgeoning area where their leaders are pouring resources in search of a future...
January 25, 2023
Import car sales hit record high in 2022

Imported car sales hit a record-high of nearly 300,000 here last year, driven by pent-up demand for luxury cars during the coronavirus pandemic, industry sources said Friday. Imported car brands’ sales in 2022 increased by 2.6 percent on-year to 283,435 units, according to data from the Korea Aut...
January 20, 2023
[Contribution] Nurturing global powerhouse for startups

By Lee Young SMEs and Startups Minister With rapid growth led by large conglomerates, South Korea was able to be the world’s 10th largest economy. But now, startups are becoming another growth engine for the country, backed by the SMEs and Startups Ministry paving a powerful avenue for growing a...
January 20, 2023
[Herald Interview] KT's cloud streaming tech brings art gallery into metaverse

Because the metaverse space was hyper-realistic and interesting, some of the online visitors came to see the real artwork once again offline in Miami, according to Gallery Stan CEO Song In-ji. Artists Sambypen and Mawz also appreciated the digital twin technology for having no time and space restri...
January 20, 2023
SK On-Urbix to develop EV battery materials

South Korean battery maker SK On said Thursday it has partnered up with US-based battery materials manufacturer Urbix to develop ecofriendly anode materials for electric vehicle batteries. Under the two years of joint development agreement, SK On will apply anode materials produced by Urbix using ...

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EDITOR'S PICKS

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
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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