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The Korea Herald

Markets

November 20, 2022
Industry steps up lobbying as Korea eyes way out of US inflation act

South Korea’s major business groups said Thursday they had asked US lawmakers and Cabinet members of the Joe Biden administration to grant Korea a three-year extension to the US Inflation Reduction Act so that Korean automakers can keep receiving electric vehicle incentives there. The law, effect...
November 20, 2022
S. Korea may delay imposing capital gains tax

South Korea’s financial authorities on Thursday were mulling a delay on the adoption of the law to levy a capital gains tax on stock investment slated to start next year. In a morning meeting, the regulator Financial Services Commission met with market analysts from 10 local brokerages to address...
November 20, 2022
[Newsmaker] Korea celebrates Kimchi Day on Nov. 22

Nov. 22 is Kimchi Day, a day dedicated to the savory Korean soul food that Koreans take great pride in. The South Korean government designated Kimchi Day to celebrate and promote the salted and fermented vegetable that is known for its various health benefits and is made in most Korean homes aroun...
November 20, 2022
[Weekender] Revived G-star back with bang

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
November 20, 2022
Science Ministry suggests tax cuts to support content biz

The Ministry of Science on Friday suggested a slew of ideas such as tax reductions for over-the-top, or streaming, content producers to expand the South Korean content business and boost its global competitiveness. The government said the support will foster high-quality, exclusive content product...
November 20, 2022
Hyundai Motor’s Ioniq 6 debuts in US

Hyundai Motor Group said Friday its flagship electric vehicle brand Ioniq’s latest model Ioniq 6 was unveiled in the United States at the 2022 Los Angeles Auto Show, and it is targeting a North American launch in the first half of next year. The Ioniq 6 was launched in July in South Korea, record...
November 20, 2022
Royal suite and 400 rooms: No expense spared for Saudi crown prince's visit

The unofficial "richest man in the world" and the de facto leader of Saudi Arabia's choice of lodging during his stay in South Korea is garnering attention with his extravagant decision to stay in a suite room that goes for 22 million won ($16,449) a night. According to industry insiders, Saudi Ar...
November 20, 2022
S-Oil makes $7b Shaheen petrochemical project official

South Korean oil refiner S-Oil, owned by Saudi Arabia’s Aramco, on Thursday confirmed its $7 billion massive project of building a large-scale petrochemical plant in the nation’s southeastern city of Ulsan. The so-called “Shaheen Project” is the largest investment made in Korea by Aramco that ...
November 17, 2022
Singapore, Germany forge stronger ties to bolster supply chains

SINGAPORE -- Germany and Singapore bolstered their partnership for supply chain diversification, stressing pipeline expansion instead of decoupling with China. The move comes as the European Union member nation, among many other key economies, has been burdened with the task of cutting back their ...
November 17, 2022
Conglomerates asked to pledge big for Busan Expo bid

The Korea Chamber of Commerce and Industry on Wednesday said it has set a goal to collect a combined 31 billion won ($23.4 million) from the nation’s top 10 chaebol groups in an aim to support Busan’s bid for the 2030 World Expo. According to the largest business lobby here, the “special member...
November 17, 2022
Businesses demand more migrant workers to relieve labor shortage

Small and medium-sized businesses in South Korea are demanding more foreign workers than the government plans to bring in next year to plug the growing skills shortage, data showed Wednesday. According to a survey conducted this month by the Korea Enterprises Federation, one of the five major busi...
November 17, 2022
Losing on home turf: Korea’s kimchi trade deficit returns

South Korea’s imports of kimchi, a staple of almost every meal, reached an all-time high last month, with soaring ingredient costs driving up prices of domestically made kimchi amid inflation fears. In October, kimchi shipments from overseas surged by 50.9 percent compared to a year earlier to $1...
November 17, 2022
Yido, Full Swing join hands to renew brand awareness

Yido, a South Korean firm that specializes in integrated management for infrastructure and golf courses, said Wednesday that it has signed a strategic partnership with US sports virtualization hardware and software company Full Swing to expand their presence in the Asian market. Established in 198...
November 17, 2022
Volkswagen debuts new Golf GTI in Seoul

Volkswagen Korea debuted the new Golf GTI, the eighth-generation of the German carmaker’s gasoline-powered hot hatch, in Seoul on Tuesday before its official launch next month. Since its debut in 1976, the Golf GTI has been recognized as a reasonably priced sports car that popularizes the new car...
November 17, 2022
Hyundai Glovis, Lion Group team up for smart logistics solutions

Hyundai Glovis, a logistics arm of Hyundai Motor Group, said Wednesday that it is entering the Malaysian logistics market in a strategic partnership with local logistic giant Lion Group, as part of efforts to expand its presence in Southeast Asia. The two sides signed a memorandum of understanding...

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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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