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The Korea Herald

Markets

November 24, 2022
Production of S. Korea’s first COVID-19 vaccine suspended

The production of the country's first homegrown COVID-19 vaccine was indefinitely suspended Tuesday, amid the slowdown in demand for vaccines tailored to combat SARS-CoV-2, the original strain of coronavirus. According to industry insiders, South Korean vaccine maker SK Bioscience suspended the pr...
November 24, 2022
Apple succumbs to antitrust pressure

US smartphone giant Apple said Tuesday it will voluntarily correct its unfair policy of charging greater commission fees to Korean app developers than in other markets by January next year. The decision comes after South Korea’s antitrust watchdog began a probe into the iPhone maker over its Kore...
November 24, 2022
Saudi wealth fund eyes investment in Kakao Entertainment

Kakao Entertainment, the content subsidiary of South Korean IT giant Kakao, may receive up to 800 billion won ($592 million) in investment from Saudi Arabia, following the kingdom's crown prince's visit to Seoul last week. The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is repor...
November 23, 2022
DSME succeeds in testing autonomous-driving system for ships

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said Tuesday it has successfully completed the trial of its autonomous navigating system for ships. DSME conducted a two-day test of its testing ship, called DAN-V, equipped with its own autonomous navigating system last week near J...
November 23, 2022
[Herald Interview] Mayor seeks to make Busan an Asian hub for startups

The city of Busan expects some 10,000 people from 42 countries to attend lectures, discussions, business meetings and networking events at the three-day inaugural Fly Asia 2022 that began Tuesday. About 460 investors from around the world and some 900 startups in Asia have signed up to take part i...
November 23, 2022
Feast for Asian startups kicks off

Fly Asia 2022, a three-day expo for startups in Asia, kicked off on Tuesday at Bexco in Busan. The city government of Busan expects Fly Asia to grow into one of the four largest feasts for startups on the continent. Hundreds of investors, speakers, panels and government officials from 21 countrie...
November 23, 2022
[Herald Interview] Global talent can expand K-pop's reach, entrepreneur says

With the global success of BTS reaching new heights, there are some who think this might be a high-water mark for K-pop. But a Singaporean entrepreneur who has himself debuted as a singer in South Korea is more optimistic, saying embracing global talent is one way to expand K-pop’s reach. As K-p...
November 23, 2022
Retailers brace for gloomy 2023

Business leaders and experts gathered Tuesday at the headquarters of the Korea Chamber of Commerce and Industry to discuss the current bearings of South Korean retail industries and plans they should undertake going forward. Woo Tae-hee, executive vice chairman of the KCCI, said that according to ...
November 23, 2022
LG Chem to build $3.2b battery material plant in US

The Tennessee facility will allow LG Chem to address the changing dynamics of the global battery material industry, with legislations such as the Inflation Reduction Act in the United States set to shake up the landscape. Under the IRA, battery storage facilities built between 2022 and 2032 will b...
November 23, 2022
S. Korea’s first modern automotive car plant to shut down after 60 years

The No.2 Bupyeong plant was originally used to produce military vehicles for the Japanese army during the Japanese colonial rule of the Korean Peninsula (1910-1945). In 1962, Saenara, a short-lived local automotive maker, purchased the plant to build the country’s first modern manufacturing line t...
November 23, 2022
Kia grabs five J.D. Power value awards

South Korean automaker Kia said Tuesday it took home five titles on Thursday in US market research firm J.D. Power's ALG Residual Value Awards, winning the most number of awards among its rivals. J.D. Power’s residual value assesses commercial value, quality, brand awareness and sales strategy to...
November 22, 2022
Busan hosts Asia startup expo

Richard Yonck, futurist and author of the bestselling “Future Minds: The Rise of Intelligence, From the Big Bang to the End of the Universe,” and Ee Ling Lim, executive director at 500 Global, will deliver speeches on the first day of the conference. Yonck, a well-known TED speaker and artificia...
November 22, 2022
SK hynix reaches settlement in chip cluster dispute

South Korean memory chip manufacturer SK hynix has reached a compromise with Yeoju city over a dispute surrounding the chipmaker's right to use freshwater for new fabrication plants in Yongin, Gyeonggi Province, the government announced Monday. The settlement, with a memorandum of understanding si...
November 22, 2022
Coupang holds special Black Friday event for import goods

South Korean e-commerce giant Coupang said on Monday it will be holding special promotions for products directly imported from overseas, in commemoration of global shopping event Black Friday. The event, which continues through Sunday, provides discounts and coupons for users who buy directly impo...
November 22, 2022
S. Korean startups post record sales, buoyed by pandemic demands

The Ministry of SMEs and Startups said Monday that local startups saw record-breaking growth in diverse sectors as they work to meet the needs of consumers amid the pandemic. According to the ministry, the number of startups whose sales exceeded 100 billion won ($73.8 million) was 739 companies as...

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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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