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The Korea Herald

Markets

August 30, 2022
More self-employed work alone in Korea

SEJONG -- The number of self-employed people without employees reached the highest in 14 years in South Korea amid the surge in food deliverymen and business startups among retirees, state data showed Monday. The nation’s self-employed is split into two groups: those who hire several workers as m...
August 30, 2022
Financial workers embezzled W170b in 6 years: lawmaker

Executives from financial firms were given substantially high salaries and bonuses amid increasing embezzlement, a lawmaker said Monday, quoting data. Data submitted by the Financial Supervisory Service to Rep. Yang Jung-suk showed that a total of 327 embezzlement cases worth a total of 170 billio...
August 30, 2022
‘An alien working at Samsung‘: S. Korean tech giant unveils new avatar

Samsung Electronics revealed Monday a teaser which featured its new virtual alien avatar named G-Nusmas. According to Samsung’s video posted online, the small blue extraterrestrial invader, originally from a planet called Nowus-129, accidentally arrived on Earth through a crash landing. The alie...
August 30, 2022
KT&G to build new cigarette packaging factory in Sejong

South Korean tobacco company KT&G said Monday it plans to build a new eco-friendly tobacco packaging factory in the central administrative hub of Sejong City. Under the 180 billion won ($133.5 million) project, the factory will be constructed at Sejong Mirae Industrial Estate, a government-develop...
August 30, 2022
Minister says inflation law ‘highly likely’ to violate FTA

South Korean Minister of Trade Industry and Energy Lee Chang-yang said Monday the US Inflation Reduction Act that bans tax benefits for electric vehicles built outside of North America is highly likely to breach the US-Korea FTA and WTO rules. Asked whether the act violated the US-Korea FTA or WTO...
August 30, 2022
Hanwha chief’s eldest son nominated as vice chairman

Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seung-youn, has been tentatively promoted to the group’s vice chairman, the group said Monday, in a decision seen as the conglomerate accelerating a father-to-son leadership transfer. The decision came about a year after the 38-year-old b...
August 30, 2022
Korea hit by market volatility after Powell’s hawkish speech

South Korea’s financial authorities and brokerages on Monday warned of volatilities stemming from US Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole last week, with the private sector expressing more skepticism towards the associated risks. Powell on Friday delivered a hawkish re...
August 30, 2022
LG Energy Solution, Honda to build $4.4b battery plant in US

LG Energy Solution said Monday it is building a new 5.1 trillion won ($4.4 billion) electric vehicle battery plant in the US in a joint venture partnership with Japanese auto giant Honda -- the first of its kind signed between a Korean battery maker and a Japanese carmaker. The world’s second-lar...
August 30, 2022
Lotte grants W14b to KAIST for R&D

Lotte Group, South Korea’s fifth-largest conglomerate, has decided to donate 14 billion won ($10.4 million) to the Korea Advanced Institute of Science and Technology for various research and development efforts, officials said Monday. The announcement came about half a year after Lotte Group Chai...
August 30, 2022
TV war looms ahead of IFA week

South Korean tech rivals Samsung Electronics and LG Electronics are heading to Berlin this week to show off their latest home appliances, including flagship TVs, during the IFA trade show that kicks off Friday (local time). Keen interest is being paid to whether Samsung will showcase its latest OL...
August 30, 2022
Execs paid over W500m up 13% in H1

Data from market intelligence firm FnGuide showed Monday that 885 officials at companies listed on the Korean stock market were paid 500 million won ($370,000) or higher in the first half of this year, up 13.3 percent from 781 people in the same period last year. According to FnGuide’s data, the ...
August 30, 2022
Probe launched over Morgan Stanley short selling

South Korea’s top financial watchdog is investigating stock short selling practices at Morgan Stanley’s Seoul office, people familiar with the matter said Monday, in the latest sign of a crackdown set to expand this week to regulate the practice that profits from a drop in stock prices. The Fina...
August 29, 2022
S. Korean firms pressured by global buyers to use renewables

Amid the importance of renewable electricity highlighted in global supply chains, 28.8 percent of large South Korean manufacturers are facing pressure from global buyers to use renewable energy in the production process, a survey from the Korea Chamber of Commerce and Industry showed Sunday. Regar...
August 29, 2022
BOK cannot stop tightening before Fed, governor says

The Bank of Korea will tighten policy to corral inflation but cannot end it before the US Federal Reserve, BOK Gov. Rhee Chang-yong said Saturday at the annual Jackson Hole meeting in Wyoming -- a three-day global economic retreat of central bankers held in-person this year after a pandemic hiatus ...
August 28, 2022
AMCHAM forum urges sustainable regulation for Korea‘s digital growth

While touting South Korea’s unrivaled position as a digital hub in the Asia-Pacific region, foreign executives and experts called for a need to create sustainable regulatory environment to foster the country‘s digital prowess at a forum hosted by the American Chamber of Commerce on Friday. “Kor...

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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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