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The Korea Herald

Markets

November 14, 2022
Antitrust watchdog mulls new M&A team

South Korea’s Fair Trade Commission is seeking to set up a new team dedicated solely to overseeing merger and acquisition deals among local and foreign businesses, according to industry sources on Sunday. The plan was reportedly included in a recent report on the antitrust watchdog’s reorganizat...
November 14, 2022
GS Caltex aims to diversify business portfolio with new cracking facility

South Korean energy company GS Caltex is seeking to diversify its business portfolio with the completion of a new olefin production facility worth 2.7 trillion won ($2.01 billion) in Yeosu, South Jeolla Province. On Friday, the company held a ceremony to celebrate the completion of the facilities,...
November 14, 2022
SK pledges to empower outside board members

SK Group said Sunday it is ramping up efforts to bolster the role of outside board members in a way to help its board of directors play a more active role as the top decision-making body and elevate corporate value ultimately. After giving them more authority like evaluating CEO performance, the c...
November 14, 2022
[Herald Interview] GM Korea to bolster safety management in time of e-mobility

As the automobile industry transitions towards electrification, GM Korea is establishing new safety measures to address potential risks associated with new technologies in manufacturing electric vehicles. Wayne O’Brien, chief safety officer at GM Korea, told The Korea Herald last week that electr...
November 14, 2022
Daejeon seeks to attract 'largest-ever' investments from European firms

FRANKFURT, Germany -- Daejeon Mayor Lee Jang-woo met Wednesday with officials from bio-to-chip firm Merck, at the company’s headquarters in Germany, to attract semiconductor and bio-related investments in the central Korean city. During the meeting, Lee and Merck officials discussed the company’...
November 11, 2022
FTX’s acquisition of Bithumb seen killed by liquidity crisis

FTX’s plan to buy South Korean crypto exchange Bithumb appears to have gone up in smoke, with billionaire Sam Bankman-Fried’s empire being rocked by a liquidity crisis, industry watchers said Thursday. Crypto exchange giant Binance’s announcement on Wednesday to back out of its plans to acquire...
November 11, 2022
Prices of food, daily necessities jump

Prices of major food items such as flour, cheese, tofu and chicken have risen over 20 percent in the past year, while prices of daily necessities such as detergents and shampoo have also jumped. Milk prices will surge again next week, which means the prices of bread, ice cream and coffee will also...
November 11, 2022
STX donates W130m to Itaewon foreign victims' families

Korean general trading firm STX said Thursday it has donated 130 million won ($95,000) to the families of foreign victims of the Itaewon Halloween tragedy, as it seeks to offer comfort for their losses. The company said it donated money to the family and multiculturalism division of the Seoul Metr...
November 11, 2022
Doosan Enerbility wins W1.6tr construction order for El Dabaa

South Korean plant builder Doosan Enerbility said Thursday it won an order worth 1.6 trillion won ($1.1 billion) for a construction job at the El Dabaa plant, the first nuclear power plant project in Egypt. Doosan Enerbility will be responsible for the supply of 82 pieces of equipment including tu...
November 11, 2022
Dairy company Purmil reverses course on business termination

South Korean dairy company Purmil's announcement of its business termination, which stirred nationwide controversy for unilaterally firing its employees, had been upended as of Thursday. According to a statement from Purmil, the company will be normalizing its business operations but will still do...
November 11, 2022
Mortgage rules to be loosened as slowing market drags on economy

South Korea will ease lending rules for those looking to buy their first home in the capital and in the greater Seoul area starting Dec. 1 to prevent a property market slowdown prompted by higher interest rates from hurting economic growth. According to an interagency government meeting led by the...
November 11, 2022
Coupang turns profitable 8 years after launch of Rocket Delivery

South Korean e-commerce giant Coupang Inc. turned a profit in the third quarter this year – a first after years of losing money since the launch of its ultrafast Rocket Delivery service in 2014. The company logged $90.7 million in net income during the July-September period in a dramatic turnarou...
November 11, 2022
KT invests $2m in US voice biomarker tech startup Sonde Health

KT Corp. said Thursday it is making a strategic investment worth $2 million in Sonde Health, a US voice biomarker tech startup that analyzes people’s voice to recognize depression, anxiety and respiratory problems. The Boston-based firm, equipped with the world’s largest amount of data on voice ...
November 11, 2022
Twitter Korea likely to lose legal battle against dismissed employees

Twitter Korea Ltd., the US social media giant’s Korean office, is highly likely to lose a potential legal battle against its abruptly laid-off employees under the local labor law if they decide to file a class action lawsuit against their employer, according to labor experts here. “Regardless of...
November 10, 2022
Kakao Bank reaches 20m customers; Kakao Pay shares rise

KakaoBank Corp. said on Wednesday that the number of its customers has risen above 20 million in the five years since its launch in 2017, while Kakao Pay shares rose for a fourth day on news that it has partnered with China’s Alipay+. Kakao Bank, the internet-only bank under mobile platform servi...

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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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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099