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The Korea Herald

Markets

October 19, 2022
Is US export ban forcing Korean chipmakers to exit from China?

The sweeping US export ban on China announced on Oct. 7, however, is likely to put the brake on their efforts of the memory chip vendors to bring the cutting-edge technologies to mainstream through mass production, as they sought to introduce tools for crucial chipmaking processes such as lithograp...
October 19, 2022
Upbit to replace KakaoTalk login service amid data center fire fiasco

South Korea’s cryptocurrency exchange Upbit is set to replace its fast login service via KakaoTalk next month, while in damage control mode from the recent Kakao data center fire fiasco. Dunamu, the operator of Korea’s No.1 crypto exchange by trading volume, will end its login service via KakaoT...
October 19, 2022
Korea’s employment performance falls short of OECD average: FKI

South Korea has been outpaced by most members of the Organization for Economic Cooperation and Development regarding key labor-related indicators, a local business lobby found Tuesday. According to the Federation of Korean Industries, Korea ranked 29th for its employment rate among 37 OECD members...
October 19, 2022
Hyundai Mobis to supply chassis modules for Mercedes-Benz EVs

South Korean auto parts and mobility solutions provider Hyundai Mobis said Tuesday that it has begun mass-producing chassis modules for Mercedes-Benz electric vehicles, adding another global automaker to its client list. Mobis begun manufacturing its chassis module, a core automotive part that con...
October 18, 2022
Up to W22b sales loss estimated for Kakao over service disruption

The aftermath of Kakao’s sudden shutdown continued Monday, as South Korea’s largest messenger app operator claimed its service failures due to a fire at SK C&C’s data center over the weekend would have limited financial impacts, while analysts predicted Kakao would suffer up to 22 billion won ($...
October 18, 2022
Financial watchdog launches inspection into Kakao’s contingency plans

South Korea’s financial watchdog launched a probe into the overall contingency plan of Kakao’s financial arms and how they dealt with a service disruption over the weekend caused by a fire at a data center, officials said Monday. The Financial Supervisory Service requested Kakao Bank, Kakao Pay ...
October 18, 2022
US inflation act likely to benefit solar cell producers: KITA

SEJONG -- Unlike carmakers in South Korea, local producers of solar energy-related items will possibly enjoy benefits from the US Inflation Reaction Act which has strengthened regulations on Chinese products, a Seoul organization representing exporters said Monday. According to a report from the K...
October 18, 2022
Samsung opens remote offices to boost hybrid working

South Korean tech giant Samsung Electronics announced Monday it has opened six shared working spaces to nurture a hybrid work environment and flexible work culture. Two of the six spaces are located outside Samsung offices, in Seoul and Daegu, and the other four in Suwon, Gyeonggi Province; Gumi, ...
October 18, 2022
Koreans eat ramen 1.7 times a week on average

A recent report showed Monday that people in South Korea consume ramen 1.7 times a week on average, with Nongshim’s bestseller Shin Ramyun being the top pick. The report, published by the Korea Agro-Fisheries & Food Trade Corp., is based on a survey conducted on 500 people aged between 15 and 65....
October 18, 2022
Plastic bag ban at convenience stores begins late November

Use of plastic bags at convenience stores will be banned from Nov. 24, two years after they were removed from hypermarkets as part of eco-friendly efforts. Like in the large supermarkets, customers will have the option of purchasing standard user-pay trash bags or paper bags at convenience stores ...
October 17, 2022
Kakao suffers worst server outage, with no complete recovery in sight

A day has passed since Kakao Corp., the operator of the immensely popular messenger app KakaoTalk, suffered its worst server outage due to a fire at its data center, but there was no complete recovery in sight as of midday Sunday. “The Pangyo data center is our main data facility that operates ar...
October 17, 2022
After server outage, users search out Kakao alternatives

The longest-ever server outage for KakaoTalk, the nation's most popular messenger app, and its affiliated services, is prompting people here to seek alternatives, according to data on Sunday. As of 3 p.m. Sunday, the top downloads on Apple's app store were alternatives for Kakao's popular apps. N...
October 17, 2022
Kakao, Naver malfunctions leave investors shuddering

South Korea’s retail investors on Sunday were grappling with the fear that the much-favored tech shares of Kakao and Naver might suffer another round of massive falls after their service malfunctions shocked the nation over the weekend. A fire broke out on Saturday at an SK C&C building housing d...
October 17, 2022
IMF chief downplays possibility in Korea’s financial crisis

SEJONG -- The chief of the International Monetary Fund on Friday dismissed the possibility that South Korea would face a financial crisis, seemingly suggesting that the current economic situation of the nation is different from the 1997 or 2008 crises. According to the Ministry of Economy and Fina...
October 17, 2022
Higher pricing, currency rates to boost Hyundai, Kia to record earnings

South Korean automaker Hyundai Motor and its sister company Kia are expected to see continued record-high sales and profits in the third quarter, despite a market downturn and the impact of the industry’s low season. According to market data on Sunday, Hyundai Motor is expected to announce around...

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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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