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The Korea Herald

Markets

August 11, 2022
Samsung suffers heavier taxes, hiring costs than TSMC: think tank

The heavier burden of corporate taxes and cost per hire are weighing on South Korean chipmaking giants like Samsung Electronics, indicating the unfavorable conditions leave them behind competitors like Taiwan-based TSMC amid intensifying semiconductor competition worldwide, according to a local thi...
August 11, 2022
Korean team develops own colorless film for foldable displays

Researchers at the Korea Institute of Production Technology said Wednesday that they have succeeded in developing a fluorine-based polyimide film, opening a leeway to produce the material without having to rely on imports from Japan. The film is a crucial part of foldable displays, as it gets rid o...
August 11, 2022
Household borrowing dips on higher rates and tighter curbs

Bank loans to households in South Korea fell for the first time in four months in July, as rising interest rates and tighter loan curbs prompt Koreans to refinance their budget without banks’ help, Bank of Korea data showed Wednesday. As of July, loans stood at an estimated 1,060.5 trillion won (...
August 11, 2022
70m Pokemon bread sales provide record Q2 revenue for SPC Samlip

South Korean confectionery company SPC Samlip said Wednesday that it had posted an all-time high sales record of over 800 billion won ($611.4 million) in the second quarter, driven by the popularity of its Pokemon Bread, of which the company sold 70 million packs for the last six months. The compa...
August 10, 2022
Floods ravage Seoul area shopping malls, hospitals

The heaviest rainstorms in 115 years have flooded hospitals, shopping malls, convenience stores and office buildings in Seoul, leaving the capital city in chaos overnight. Gangnam Severance Hospital in Gangnam-gu, one of the largest hospitals in Seoul, was submerged last night, with water cascadin...
August 10, 2022
Nearly 5,000 vehicles flooded due to heavy rain

Insurance companies are expected to face costly claims for flooded cars as a result of the heavy rain that has inundated Seoul’s Gangnam area since Monday night. Twelve automobile damage insurance companies received more than 4,791 claims for flooded cars overnight, according to the General Insur...
August 10, 2022
Korea’s trade deficit with China to persist: KCCI

South Korea’s trade deficit with China is likely to persist for the time being, unless Korea strives to achieve supply chain independence from China, according to a report by lobby group Korea Chamber of Commerce and Industry on Tuesday. The growing reliance on China over key materials used for K...
August 10, 2022
Korean battery makers keep close tabs on US Inflation Reduction Act

South Korean lithium-ion battery cell makers are expected to be beneficiaries once the Inflation Reduction Act comes into force in the United States, as the bill is likely to induce US electric vehicle makers to cut their reliance on Chinese battery components. But at the same time, Korean battery...
August 10, 2022
Avikus bags 1st autonomous navigation orders

Avikus, an in-house venture under Hyundai Heavy Industries Group, became the first autonomous navigation software company to sell Level 2 autonomous navigation solutions in the world. Avikus signed order contracts with two South Korean shipping companies, SK Shipping and Sinokor Merchant Marine, t...
August 10, 2022
Korean regulators to probe Apple, Google on alleged violation of local law

The Korea Communications Commission will look into whether app market operators -- Apple, Google and One Store -- are in violation of a Korean law that bans forcing certain in-app payment methods among app developers, the regulatory agency said Tuesday. The fact-checking investigation will begin f...
August 10, 2022
[Herald Interview] MetLife‘s 360Health app to cater to South Korea’s aging society

South Korea has been an aging society since 2000 and is now on track to become a super-aged society within five years when older people make up 20 percent of its 50 million population. With the people across Asia now expecting longer life spans, helping them build a healthier lifestyle through adv...
August 10, 2022
‘Don’t touch batteries of flooded EVs’: experts

The possibility of getting an electric shock from a submerged electric vehicle is low, but drivers should never touch the battery of flooded cars, experts warned Tuesday. According to the Korea Transport Institute, EV batteries are designed to automatically cut off outgoing electricity if any wate...
August 10, 2022
Hanwha chairman‘s wife dies at 61

Hanwha Group Chairman Kim Seung-youn’s wife, Suh Yung-min, died at 61 at a hospital in the United States on Sunday, as she was suffering from cancer, the group said Tuesday. Suh is survived by Kim, who leads South Korea‘s seventh-largest conglomerate dedicated to chemicals, renewable energy and ...
August 10, 2022
Korea to draft frequency spectrum plan to support EV, UAM

The South Korean government will draw up a frequency spectrum plan by the end of this year in efforts to support the growth of new industries such as electric vehicle, robots and urban air mobility, the Ministry of Science and ICT said Tuesday. “We hope that the government’s preemptive supply of...
August 10, 2022
Inflation causes higher car repair, parking charges

SEJONG -- The nation’s transportation fees recorded double-digit growth on-year for the fifth consecutive month in the wake of a spike in international crude prices and a glitch in supply of raw materials, state data showed Tuesday. According to Statistics Korea, transportation-related fees such ...

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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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