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The Korea Herald

Markets

October 10, 2022
Science experts call for creation of national science hub

South Korea’s science experts have called for nationwide efforts to set up a national science hub in order to gather the country’s scientific talents and research efforts. According to the Science Dreamland, an incorporated association, over 100 figures from the science and technology sector, lo...
October 10, 2022
US chip export curbs won't likely hurt Samsung, SK hynix: lawmaker

"Korean chipmakers will be less comfortable than before as a result of the export control against China, so we need to be watchful over what the guidelines for 'the case-by-case basis' review would be," Yang said. This comes amid pessimistic views that Korean chipmakers might be on a rocky road to...
October 10, 2022
Soaring food prices force Koreans to scrimp on eating out

Higher food prices are taking a toll on much of the world and Koreans are no exception, as they look to deal with the surging costs of eating out that reached a 30-year high last month -- the latest sign that will likely harden resolve at the Bank of Korea for a second hefty rate hike this week. W...
October 05, 2022
Daewoo E&C, Jungheung renovate patriot descendants' residences

South Korean builder Daewoo E&C and its parent company Jungheung Group participated in a campaign to improve the living environment of a descendant of an independence patriot as part of its corporate social responsibility project on Friday, the companies said Tuesday. The campaign hosted by Habita...
October 05, 2022
Hyundai Engineering expands CSR projects to help disabled, low-income households

Hyundai Engineering said Tuesday that it is planning on expanding its corporate social responsibility projects to support the disabled and low-income households. Under the plan, the firm, which has been conducting charity drives with the Goodwill Store since 2017, a rehabilitation facility for the...
October 05, 2022
Seoul readies W10tr ‘stabilization’ fund to contain market volatility

South Korea’s finance authorities are preparing to replenish what they call a “stabilization fund” this month to curb volatility gripping the local stock market, led by investors pricing in a sharp US downturn. The fund, which the government last rolled out in 2020 to ride out the COVID-19 fall...
October 05, 2022
Countries with high income inequality, debt suffer higher COVID deaths: report

Countries with high income inequality and national debt have reported more COVID-related deaths in the first year of the pandemic, a report showed Tuesday. Of the 38 Organization for Economic Cooperation and Development member nations, those with a high Gini coefficient -- a gauge of economic ineq...
October 05, 2022
3 more Paris Baguette branches open in Paris

SPC Group has opened three more Paris Baguette stores in Paris this year to expand its business in the European market, the South Korean food and beverage giant said Tuesday. The latest Paris Baguette store is set to open in Montparnasse, a major commercial district in the southern part of Paris o...
October 05, 2022
[From the Scene] SK expands manufacturing capacity to meet growing global demand

SEJONG -- SK Group, South Korea’s second-largest conglomerate by market capitalization, is looking to expand its contract development and manufacturing organization businesses with the completion of SK Biotek Sejong plant’s third pharmaceutical manufacturing facility. With SK Biotek’s Module 3 ...
October 05, 2022
Naver to buy US social commerce platform Poshmark for $1.6b

South Korean IT giant Naver will buy Poshmark, the largest social commerce marketplace in North America, for a total of $1.6 billion (2.3 trillion won), the companies said Tuesday. Naver will acquire all of Poshmark stocks at $17.9 per share in a buyout worth approximately $1.2 billion. The rest o...
October 05, 2022
Retail industry looks offline to drive customer experience: report

As Korea transitions to the endemic stage of the COVID-19 pandemic, the online-focused retail industry is shifting toward offline stores to enhance customer experience, a report showed Tuesday. Although the vacancy rate rose in commercial districts during the pandemic, retail brands are eyeing pri...
October 05, 2022
Hyundai, Kia EV sales drop after new US EV subsidy act

Hyundai Motor Group’s electric vehicle sales in the United States dropped significantly last month after a new US act that excludes tax benefits on vehicles produced outside of the US took effect, data showed on Tuesday. Hyundai Motor America sold a total of 1,306 Ioniq 5 units in September, far ...
October 05, 2022
[Newsmaker] Transport ministry offers increase of taxi-hailing fee to resolve nighttime cab shortage

The government will raise late-night taxi-hailing fees to 5,000 won ($3.49) which will go into the pockets of taxi drivers, not platform companies, to bring back drivers who left the industry during the pandemic curfew, the transport ministry said Tuesday. According to the plan devised to resolve ...
October 05, 2022
Samsung aims to produce 1.4nm chips from 2027

Samsung Electronics unveiled a five-year road map for its contract chipmaking business Monday, saying it would start producing chips using the 2-nanometer technology in 2025 and the 1.4-nanometer technology in 2027. The new plan came after the South Korean tech giant became the first chipmaker to ...
October 04, 2022
[Contribution] New R&D pre-feasibility study system 'dons the cape of innovation'

Since I took office as vice minister for science, technology and innovation, many of the opinions suggested by the research community called for improvement of the "preliminary feasibility study system for national research and development projects,” hereafter referred to as the “R&D pre-feasibil...

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