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The Korea Herald

Markets

December 08, 2022
S. Korea rolls out plan for bio industry

The Ministry of Science and ICT on Wednesday announced its midterm plan to nurture the local biotechnology industry, aiming to pour about 400 billion won ($303 million) annually from next year into securing key technologies in the field. South Korea will “implement the country’s cutting-edge dig...
December 08, 2022
US ambassador visits Coupang fulfillment center in Daegu

Its end-to-end logistics infrastructure has also helped small- and medium-sized enterprises grow. SMEs on Coupang, which account for around 70 percent of all sellers on the platform, saw their sales grow approximately 140 percent in the third quarter this year, compared to the corresponding period ...
December 08, 2022
FSS inspects Payco’s signature key leakage case

South Korea’s top financial watchdog on Tuesday launched an on-site inspection of NHN’s mobile payment service Payco after news that its signature key was leaked broke the day before. This key is a tool that app developers use when registering and distributing their apps on app stores. It certif...
December 08, 2022
Vietnam’s industry minister urges energy, resource investment from S. Korea

Nguyen Hong Dien, Vietnam’s minister of industry and trade, on Tuesday urged South Korea to invest in clean energy and mineral resource development, in a step toward strengthening the two countries’ bilateral ties. “In a few weeks, Vietnamese government will approve the country’s long-term eig...
December 08, 2022
[Newsmaker] ‘Long live the bill’ in cashless society

Banknotes with higher face value have a longer life span, with highest denomination here of 50,000 won ($38) presumed to be used for more than 15 years, a central bank report showed Wednesday. The Bank of Korea announced the results of a study on the average life span of Korean banknotes, making a...
December 08, 2022
After server shutdown, Kakao pledges to triple investment over next 5 years

South Korean IT giant Kakao vowed Wednesday to triple its investment in efforts to set up more stable service operations after the company faced heat when its major services, such as KakaoTalk, were shut down due to a data center fire. “Kakao will invest more than three times the amount it invest...
December 08, 2022
SK chief stresses ties with Japan to tackle geopolitical challenges

South Korea, the United States and Japan should work closely together to address geopolitical challenges pressing Northeast Asia and beyond, SK Group Chairman Chey Tae-won said at a forum. Chey made the remarks at the 2022 Trans-Pacific Dialogue in the US, an annual gathering hosted by the Chey In...
December 07, 2022
Court puts end to SK chief's high-profile divorce

A Seoul court on Tuesday ordered SK Group Chairman Chey Tae-won to pay 66.5 billion won ($50 million) in property division to Roh So-young, ending the couple’s marriage of 34 years. Chey will also have to pay 100 million won in alimony, the court added. The Seoul Family Court announced its ruling...
December 07, 2022
Samsung, Naver team up to develop AI chips

Samsung Electronics said Tuesday that the company will collaborate with local internet giant Naver to develop next-generation semiconductor solutions for advanced artificial intelligence systems. The two companies will develop chip solutions that have greater capacity to process large-sized data, ...
December 07, 2022
Samsung chief inspects Barakah nuclear plant site in UAE

Samsung Electronics said Tuesday Chairman Lee Jae-yong visited a Samsung C&T construction site of a new nuclear power plant in the United Arab Emirates and encouraged workers there. The construction unit of Samsung Group is building two nuclear reactors at the Barakah nuclear power plant. During h...
December 07, 2022
'All stakeholders blamed for Kakao server shutdown'

The Ministry of Science and ICT on Tuesday released the results of its investigation into the nation's worst-ever server shutdown in October, calling for all stakeholders -- SK C&C, Kakao and Naver -- to come up with emergency response system. On Oct. 15, a fire broke out in the battery room on th...
December 07, 2022
Korea, Vietnam pledge economic alliance

More than 300 business leaders from Korea and Vietnam gathered to attend the Korea-Vietnam Business Forum, held in line with Vietnamese President Nguyen Xuan Phuc’s state visit to Korea, pledging to expand economic ties for bilateral growth. The Korea-Vietnam Business Forum, hosted by the Korea C...
December 07, 2022
SK On, Ford break ground on largest EV battery plant in US

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
December 07, 2022
Samsung promotes execs in 30s, 40s in push for change

Samsung Electronics on Tuesday promoted a total of 187 executives in a year-end reshuffle, including young leaders in their 30s and 40s, in an apparent attempt to push for change amid business uncertainties next year. The total number slightly decreased from last year’s 198, but more research and...
December 07, 2022
Vietnamese president meets with Korean business leaders

Vietnamese President Nguyen Xuan Phuc on Monday held meetings with a slew of business leaders here, during a state visit to commemorate the 30th anniversary of bilateral ties between South Korea and Vietnam. Jung Won-ju, vice chairman of Jungheung Group, the largest shareholder of Daewoo E&C, was ...

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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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