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The Korea Herald

Markets

August 18, 2022
Full-fledged succession looms after pardon for Samsung’s Lee Jae-yong

Samsung is envisioning a change in governance structure as a presidential pardon has virtually normalized de facto leader Lee Jae-yong’s control over the nation’s largest conglomerate. Lee Chan-hee, chief of Samsung’s independent compliance oversight committee, told the press before the committ...
August 18, 2022
LG Energy Solution raises growth target on upbeat demand

South Korea’s top electric vehicle battery maker LG Energy Solution has elevated its sales target for this year, largely buoyed by an upbeat outlook for the second half. In its second-quarter earnings report in July, the company announced an upgraded growth plan, raising sales target this year to...
August 18, 2022
SK chairman discusses global health commitments with Gates

SK Group Chairman Chey Tae-won discussed shared commitments to global health with Bill Gates, co-chair of the Bill and Melinda Foundation, SK Bioscience said Wednesday. According to officials, SK Discovery Executive Vice Chairman Chey Chang-won and SK Bioscience CEO Ahn Jae-yong also attended the ...
August 18, 2022
Kurly’s IPO plan to be decided next week

The long-awaited market debut of Kurly, operator of South Korean e-commerce platform Market Kurly, is expected to be decided soon as the nation’s bourse operator is scheduled to hold a final review session next week, according to industry sources on Tuesday. If the company gets a green light from...
August 18, 2022
S. Korea to supply 2.7 million new homes by 2027

SEJONG -- The Yoon Suk-yeol administration said Tuesday that it will provide 2.7 million new homes nationwide over the next five years by easing regulations on redevelopment and reconstruction, as well as designating a group of locations as new towns for development. The first home supply plan und...
August 18, 2022
FSS chief vows probe into suspicious short selling, wire transfers

The Financial Supervisory Service will look into financial institutions that handled an unusually large volume of short selling when the local markets were jumpy, the watchdog’s chief said Tuesday, as retail investors step up calls for greater oversight over the practice they say leaves them outgu...
August 18, 2022
[From the scene] Seoul’s first Formula E race leaves much to be desired

Seoul hosted the country’s first electric car racing event over the weekend, after the competition was delayed twice due to pandemic, but despite the hype for the motorsports extravaganza, the season finale left a wake of disappointment regarding its management and operation. Seoul E-Prix, the fi...
August 18, 2022
Volkswagen’s R-Line Arteon makes Korean debut

Volkswagen’s R-Line Arteon, a sportier version of the carmaker’s flagship sedan, made its debut in South Korea in July. The new Arteon R-Line 4MOTION has been revamped with a bold front bumper that creates a balanced look of the chassis. The car also comes with a 20-inch Nashville Alloy wheel, ...
August 18, 2022
Hyundai Motor among big three carmakers for first time

Hyundai Motor Group said Monday it ranked third globally in car sales in the first half of this year -- a first feat for the nation’s largest carmaker. According to its sales data, Hyundai Motor Co., its luxury Genesis brand and its smaller affiliate Kia Corp. sold a total of 3.299 million vehicl...
August 18, 2022
Galaxy Watch5 adopts most advanced sleep tracking: Samsung exec

Samsung Electronics’ newest smart wearable device -- the Galaxy Watch5 series -- offers the world’s most advanced sleep-tracking technology, Executive Vice President Yang Tae-jong said in a press conference Thursday in New York, a day after the Galaxy Unpacked August 2022 event. “Galaxy Watch5 ...
August 18, 2022
Bank turning away foreigner due to long name ‘discriminatory’

A South Korean bank’s rejection of a foreign customer’s request to open a new bank account due to the person’s full name being deemed “too long” is “discriminatory,” the state rights watchdog said Monday. A foreign resident here, whose name was withheld, filed a petition with the National H...
August 18, 2022
Foreign holdings of Korean stocks hit 13-year low

Foreign holdings of South Koreans stocks on the benchmark Kospi dipped to 606.2 trillion won ($464.1 billion), or 30.51 percent of the total, Thursday -- the lowest level since August 2009 as fears over US Federal Reserve rate hikes and a possible recession have dampened investor optimism. Data fr...
August 18, 2022
SK invests $250m in Bill Gates’ TerraPower

SK Group, South Korea’s second-largest conglomerate, has invested $250 million in Bill Gates’ small nuclear power reactor developer TerraPower in an effort to cut down global carbon emissions and build up the group’s green energy portfolio, officials said Monday. According to the group’s annou...
August 17, 2022
Posco International to absorb Posco Energy

Posco International, the trading arm of the Posco Group, said Friday that its board has approved a bill to absorb Posco Energy. The merger will be put to the vote at the general shareholders‘ meeting on Nov. 4 and finalized on Jan. 1, the company said in a statement. Each Posco Energy share will ...
August 17, 2022
Korea raises alarm for supply shortage in farm products

SEJONG -- Economic policymakers are poised to take countermeasures against possible issues in the supply of agricultural and livestock products and further price climbs in the wake of the recent heavy rainfall. At a vice-ministerial meeting in Seoul on Friday, First Vice Minister of Economy and Fi...

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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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