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The Korea Herald

Markets

September 25, 2022
Fandom power might change blockchain ecosystem, experts say

Another speaker at the forum that pointed to the power of fandom was Alexandre Dreyfus, CEO of Socios and Chiliz, an Ethereum-based coin that runs on the Chiliz blockchain. Dreyfus and his business have close ties with the concept of fandom as Socios is a fintech platform for fan engagement and fan...
September 25, 2022
Hyundai Mobis CEO elected as ISO President

Cho Sung-hwan, CEO of Hyundai Motor Group’s auto parts affiliate Hyundai Mobis, has been elected president of the International Organization for Standardization, the company said Friday. Cho is the first Korean to take the highest position at ISO, a non-profit organization that develops and publi...
September 25, 2022
US, Canada firms vow to invest W1.6tr in Korea during Yoon's trip

SEJONG -- North America-based businesses have proposed to invest $1.15 billion (1.62 trillion won) in South Korea's manufacturing sector during President Yoon Suk-yeol’s visit to the US, the Industry Ministry said Friday. Investment proposals were made at an investors' roundtable held in Manhatta...
September 25, 2022
Collaboration with fashion designers growing trend in manufacturing

Product collaborations with fashion brands continue to be popular in the local manufacturing industry, with a growing number of consumers looking to own unique items. Samsung Electronics, the country’s tech giant, said Friday it has launched a limited edition of Galaxy Z Flip 4, Galaxy Watch 5 se...
September 25, 2022
NPS, BOK to sign currency swap deal as Korean won tumbles

South Korea's pension operator and the central bank are taking steps for a currency swap agreement as the Korean won tumbled to its lowest level against the US dollar in 13 years on Thursday. The National Pension Service will borrow the greenback it needs to invest overseas from the Bank of Korea,...
September 25, 2022
SK chairman says corporate survival is key amid US-China tensions

Noting growing uncertainties surrounding the escalating US-China rivalry, SK Group Chairman Chey Tae-won said Wednesday that his priority at the moment is bracing for business survival itself, not seeking profits or efficiency. “The most urgent task is finding the way of survival under any circum...
September 25, 2022
Yoon underlines digital freedom at NYU forum

President Yoon Suk-yeol has emphasized the importance of digital technologies in contributing to the expansion of freedom, a day after he called for collective efforts to decrease the digital gap across the world in his speech at the United Nations General Assembly. “We have to gather our wisdom ...
September 25, 2022
Korean won hits 1,400 per dollar after giant Fed rate hike

SEJONG -- The Korean currency dropped to the 1,400 won range per dollar on Thursday in the wake of another “giant step” rate hike of 75 basis points from the US Federal Reserve. In addition, foreign and institutional investors turned to net sellers on the nation’s main bourse, pulling down the ...
September 25, 2022
Court orders Namyang Dairy to sell controlling stake to Hahn & Co.

A Seoul court on Thursday ordered Namyang Dairy Products shareholders to sell off its controlling shares to local buyout firm Hahn & Co., brushing off the troubled dairy company’s claims that its stock transfer deal with the private equity fund had been “rigged.” The Seoul Central District Cour...
September 25, 2022
[Market Eye] Can Arm stake deal spur Samsung's breakthrough?

Samsung Electronics Vice Chairman Lee Jae-yong's planned meeting next month with SoftBank founder Masayoshi Son raises the expectation that the South Korean tech giant could find a breakthrough with a new round of investment for future growth in the field of semiconductors. On his arrival to Seoul...
September 25, 2022
Upbit operator picks NFT venture with BTS’ Hybe as most anticipated project

“But the NFT market has been steadily growing and we believe we will be able to achieve a stellar performance if we can collaborate with Hybe -- which has BTS and strong intellectual property portfolio -- on producing NFTs and selling them in the overseas market,” the Dunamu chief told reporters....
September 22, 2022
LG Innotek to show off substrate products at trade show

LG Innotek said Wednesday that it is showcasing its latest substrate products at an international trade show kicking off this week. The electronics component manufacturer will be participating in the Korea International Electronic Circuits and Packaging Show 2022 held in Songdo, Incheon, from Wedn...
September 22, 2022
P&O Chemical starts construction of new battery materials plant

Posco Chemical said Wednesday that its joint venture with OCI Co., called P&O Chemical, has started construction of a new local plant to produce a key coating material used in secondary batteries. The plant, located in Gongju, South Chungcheong Province, will have an annual production capacity of ...
September 22, 2022
Dyson's Gen5 Detect vacuum cleaner makes debut in Korea

In line with the suction power improvement, Dyson's new vacuum cleaner features a cutting-edge high efficiency particulate absorbing filter for deeper cleaning. The new product captures 99.99 percent of particles like viruses, which are one-seventieth in size compared to a single strand of hair. T...
September 22, 2022
Trade deficit casts clouds on markets, growth

SEJONG -- South Korea is likely to record a trade deficit for the sixth consecutive month, as the nation suffered a trade deficit of $4.1 billion for the first 20 days of September, down 8.7 percent on-year, state data showed Wednesday. According to the Ministry of Trade, Industry and Energy, the ...

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