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The Korea Herald

Markets

September 07, 2022
Kakao's taxi algorithm does not favor own cabs: experts

A committee of experts said Tuesday that the algorithm of Kakao Mobility’s taxi-hailing application -- Kakao T -- does not favor its affiliated cabs known as Kakao T Blue in the process of matching passengers with taxi drivers. The experts’ analysis came amid the Fair Trade Commission’s ongoing...
September 07, 2022
Hyundai Motor to develop automation tech for world's first smart cargo terminal

Hyundai Motor Group has teamed up with Hanjin KAL, the parent firm of national flag carrier Korean Air, and Incheon International Airport Corp. on Tuesday to jointly develop automation technology for Incheon Airport's smart cargo terminal infrastructure. The technology will be applied to Incheon A...
September 07, 2022
Tmax Group to launch tool that builds app without writing code

South Korean enterprise software developer Tmax Group on Tuesday unveiled plans to launch a tool through which enterprise clients can build business apps tailored to their own needs without writing code. SuperApp Studio, an app-building tool that Tmax believes can become a Korean equivalent to Mic...
September 07, 2022
Posco probes links between typhoon, fires at Pohang plant

Multiple fires were reported at Posco’s steel plant in southeastern city of Pohang, Gyeongsang Province, Tuesday morning, but the company said the picture showing dark smoke surrounding its facilities that went viral online was not due to fire but the release of byproduct gas at the plant caused b...
September 07, 2022
More Koreans refuse to cook for Chuseok

Kim kyung-hee, a housewife in her 60s, who hated the idea of laying out store-bought meals on a “jesa” table, which is usually placed with homemade food to honor ancestors, is considering buying one or two packaged meals this year for the Chuseok holiday. “With rising inflation, it is just too ...
September 07, 2022
Samsung families receive W235.5b in dividend in H1

Four family members of South Korea's largest conglomerate, including Samsung Electronics Vice Chairman Lee Jae-yong, have received a combined 235.46 billion won ($171.4 million) in dividends from Samsung Electronics in the first half, data showed Tuesday. Among them, Hong Ra-hee, Samsung Electroni...
September 07, 2022
South Korea to see trade deficit for time being: Bank of Korea

Higher energy import bills, prompted by changes in the global economy, are to blame for the five-month trade deficit since April, with the trend likely to continue for the next three months, the Bank of Korea said Tuesday in a research paper. The August trade deficit came to $9.47 billion, a month...
September 06, 2022
Samsung vows to take energy efficiency to next level at IFA

Samsung Electronics on Monday pledged to take energy efficiency of its consumer electronics goods to the next level, supported by a combination of technologies from artificial intelligence to connected homes, during Europe's biggest tech show IFA 2022 that wraps up Tuesday. The cutting-edge techno...
September 06, 2022
Kakao launches Tapas Entertainment to boost US market expansion

Kakao Entertainment -- a content subsidiary of South Korean IT giant Kakao -- has launched Tapas Entertainment to accelerate the expansion of its content businesses in North America, the company said Monday. Tapas Entertainment was established after a merger between Tapas Media, the first webtoon ...
September 06, 2022
Hyundai Motor chief returns from US trip over US EV tax credit

Hyundai Motor Group Executive Chair Chung Euisun returned from a two week US trip where he sought for measures to deal with the latest US tax credit bill that has scrapped subsidies for foreign-made electric vehicles. But market insiders say there isn't room for businesses to resolve the issue and ...
September 06, 2022
Korea to have more EV charging, self-driving robots at parks

SEJONG -- More and more gas stations are expected to operate charging ports for electric vehicles under state measures to promote supply of eco-friendly vehicles by easing regulations. In addition, businesses will be allowed to operate autonomous mobile robots at parks, while the current rules res...
September 06, 2022
4 of 5 chip experts say Korea faces 'worst crisis' in decade

Combined with industrywide risks like memory chip oversupply, price cuts and the resulting decline in monthly chip exports for the first time in 26 months in August, the increasing competition posed by Chinese entities is stoking fears of a domestic chip industry downturn that could last more than ...
September 06, 2022
Super typhoon’s approach puts Korean businesses on high alert

Tensions grew sharply among retail, transport and manufacturing sectors on Monday on fears of the possible disruptions that Typhoon Hinnamnor could cause to their businesses, which are already suffering from a weak local currency and persistent economic uncertainty. The country’s three major mobi...
September 06, 2022
[From the Scene] Growing crops under solar panels: Korea tests agrivoltaic farm

HAMYANG, South Gyeongsang Province – A week before Chuseok, the sounds of a combine harvester's revving engine echoed in Gi-dong village of Hamyang, some 240 kilometers southeast of Seoul. The sound is not an unfamiliar one at any farm during harvest season around the country, but the scene was di...
September 06, 2022
Choo says economy still solid despite won’s slide

Increasing volatility prompted by changes in the global economy is gripping South Korea’s financial markets, but the economic fundamentals remain strong, Finance Minister Choo Kyung-ho said Monday morning at a meeting of the nation’s economic chiefs. “The won is weakening, but economic indicato...

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