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The Korea Herald

Markets

November 03, 2022
Proxy battle looms at Samsung as Lee Jae-yong tightens grip

Lee Jae-yong’s formal ascension to the top seat at Samsung Electronics, the crown jewel of the nation’s largest conglomerate, is fueling speculation about potential changes in the founding family’s governance structure across Samsung companies. His promotion to chairman has long been considered...
November 03, 2022
4 out of 10 CEOs at 500 largest firms from 3 top universities

Four out of 10 chief executive officers at South Korea’s 500 largest companies graduated from the nation’s top three universities -- Seoul National University, Korea University and Yonsei University -- and only 1.7 percent of the CEOs were women. According to a report by corporate data research ...
November 03, 2022
Lotte to inject W1tr to expand online grocery business

Lotte Shopping, the e-commerce arm under retail giant Lotte, said Wednesday it plans to inject some 1 trillion won ($705 million) to boost its online grocery business. In partnership with Ocado, UK’s retail solutions provider, the company will adopt the Ocado Smart Platform, which uses artificial...
November 03, 2022
Jeju kicks off autonomous driving service

South Korea’s Transport Ministry announced Wednesday that it will begin operating an autonomous driving transportation service that can transport tourists and local residents around Jeju Island starting from Thursday. The autonomous driving vehicles will travel two routes. One will travel 16 kilo...
November 03, 2022
Chanel raises prices in Korea to 'ensure fairness'

Chanel raised the prices of its handbag, jewelry and clothing products in Korea by 5 to 12 percent on Wednesday, citing global price equity as the primary reason. This is the company’s fourth price hike this year. As per the price increase, the price of Chanel’s Mini Flap Bag rose by 7 percent, ...
November 03, 2022
[Herald Interview] ‘Biopharmas in midst of manufacturing revolution’

As biopharmaceutical companies across the globe are undergoing revolutionary changes in bioprocessing, Merck Life Science appears committed to helping Korean companies stay ahead of the game. Meeta Gulyani, head of strategy, business development and sustainability at Merck Life Science, told The K...
November 03, 2022
[Exclusive] SK Pharmteco’s French CDMO to complete construction of new plant in Q1 2023

SK Inc, a holdings company of the South Korea’s second largest conglomerate SK Group, acquired a 70 percent stake in Yposkesi in March 2021 as SK looked to grow its biopharmaceutical CDMO business. According to Lamproye, the French CDMO has 20 ongoing projects with 20 different biopharmaceutical ...
November 02, 2022
Posco Int'l signs partnership with Dutch hyperloop firm Hardt

Posco International said Tuesday that it clinched a partnership with Dutch hyperloop technology provider Hardt, with an aim to seek business opportunities in the global market for ultra high-speed, eco-friendly transportation system. Under the agreement, Posco International will work on securing a...
November 02, 2022
Korea’s monthly exports decline for 1st time in 2 years

SEJONG -- South Korea suffered a negative growth in exports for the first time in two years in the wake of sharply contracted demand for semiconductors around the globe and China’s economic slowdown, state data showed Tuesday. According to the Ministry of Trade, Industry and Energy, the nation’s...
November 02, 2022
Consumer spending likely to weaken like it did after ferry sinking in 2014

South Korea’s consumer spending is expected to weaken further as the nation reels from the crowd surge tragedy in Itaewon that took over 150 lives, similar to over eight years ago after the Sewol ferry sinking that killed over 300 people, mostly teenagers on a school trip. As the economy is alrea...
November 02, 2022
Samsung Electronics marks 53rd anniversary in low-key

Samsung Electronics on Tuesday marked the 53rd anniversary of its foundation in a toned-down event, out of respect for the victims of the recent deadly Itaewon crowd crush. The annual event, held at a convention center in Suwon, Gyeonggi Province, is typically one of the Korean tech giant’s bigge...
November 02, 2022
Banking giants to inject W95tr to ease liquidity strain

The leaders of South Korea’s five banking giants on Tuesday agreed to provide 95 trillion won ($67 billion) in liquidity by year-end to shore up local financial markets, rocked by a recent credit default, in what many see as a response to the government’s request for the financial groups’ suppor...
November 02, 2022
[Herald Interview] Can electric, self-operating machines become the future of agriculture?

South Korea's agricultural sector has faced a labor shortage for decades, with aging farmers and a shrinking population. To keep the rural economy sustainable, one solution might be to deploy autonomous machines that are operated through smart connectivity. Gam Byoung-woo, chief of product develop...
November 02, 2022
Samsung's W130tr market cap evaporates in 10 months

Sixteen affiliates of South Korea's No. 1 business conglomerate Samsung have seen a drop in stock market cap by 129.36 trillion won ($90.78 billion) combined during the period of January to October, data showed Tuesday. This means nearly 20 percent of the market cap of the affiliates has evaporate...
November 02, 2022
Samsung Biologics emphasizes speed

FRANKFURT, Germany -- Samsung Biologics, a leading South Korean contract development and manufacturing organization, has highlighted its speed in expanding production capacity and bringing clients’ drug products to the market as the company’s competitive edge in the global CDMO industry. "The mo...

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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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