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The Korea Herald

Markets

April 16, 2024
Korean won slides amid heightened uncertainty

The Korean won weakened to 1,400 won against the US dollar during trading hours Tuesday, marking a new 17-month low as the Korean economy faces headwinds from the escalating volatility in the Middle East. The local currency against the greenback closed at 1,394.5 won, losing its value by 10.5 won ...
April 16, 2024
Credit card transactions hit W900tr in 2023

Last year, South Korea's card payments surged past 900 trillion won ($644.6 billion) for the first time, amid heightened inflation and escalating consumer prices. Data compiled by the Financial Supervisory Service reveals that the combined card payment performance of the nation's eight major credi...
April 16, 2024
Finance chiefs of Korea, US, Japan to hold 3-way talks for first time

Finance leaders from South Korea, the United States and Japan were set to hold their first-ever trilateral meeting in Washington on Wednesday, to step up economic cooperation amid heightened geopolitical risks in the Middle East. Finance Minister Choi Sang-mok departed for the US on Tuesday to att...
April 16, 2024
Pineapple, mango imports surge to record highs in March

South Korea witnessed its highest-ever import figures for pineapples and mangoes in March, largely driven by the government’s recent efforts to address the soaring prices of homegrown apples by diversifying demand toward alternative options. According to the Korea Customs Service on Tuesday, the ...
April 15, 2024
Korea braces for blows from Middle East conflict

The heightened geopolitical tensions from Iran's attack on Israel have cast gloom on Korea as well, bringing down local shares and leading to currency depreciation. While the Korean won has been losing its value against the US greenback in recent days with weakened anticipation on the US Federal R...
April 15, 2024
Hanlim, Kazakhstan partner on greenhouse gas reduction project

Hanlim Architecture Group said Saturday it was embarking on a joint collaboration with Kazakhstan's environmental group KMG and the city of Shymkent on a landfill greenhouse gas reduction project. The partnership went through a joint project agreement, which was marked by a visit to the landfill s...
April 15, 2024
KAI inks W1tr eVTOL parts supply deal with Brazil's Eve

By Park Se-ra ( serap1005@heraldcorp.com ) The Korea Herald
April 15, 2024
How should Korea adjust its trade defenses against Chinese EVs?

Korea, home of the world’s third-largest automaker, Hyundai Motor Group, finds itself at a critical juncture as the rise of Chinese-made electric vehicles in the domestic market poses a complex challenge: how to protect national interests while embracing the inevitable shift toward electrification...
April 15, 2024
KAI inks deal with Brazilian aircraft firm to supply eVTOL components

Korea Aerospace Industries (KAI) said Monday it has signed a deal with Brazilian aircraft manufacturer Eve Air Mobility to supply a key component used in the production of electric vertical take-off and landing (eVTOL) vehicles. The contract is valued at over 1 trillion won ($722.9 million) and th...
April 15, 2024
[Hello India] Venturing into India's regulatory landscape

While many law firms in Korea lack familiarity with India's legal landscape, Oh asserted that Jipyong excels in this regard, owing to its extensive experience in Myanmar, a former province of British India that is also partially based in English common law. "The legal framework in Myanmar closely ...
April 15, 2024
S. Korea ups guard against economic impact from Middle East conflict

The South Korean government on Sunday announced heightened vigilance against potential domestic repercussions in light of the escalated tensions in the Middle East following Iran's attack on Israel. President Yoon Suk Yeol convened an emergency meeting with cabinet members and relevant government ...
April 12, 2024
Korea faces another compensation claim over 2015 Samsung merger

The South Korean government faced another compensation claim for its alleged role in the 2015 merger of two Samsung companies. The Hague-based Permanent Court of Arbitration ruled Thursday that the Korean government should compensate some $32.03 million to Mason Capital, a New York-based hedge fun...
April 12, 2024
BOK holds rate, wary of inflation's ‘last mile’

Nearing the “last mile” of its fight against rising prices, the Bank of Korea held the base rate at 3.5 percent for the 10th consecutive time Friday. The monetary policy board of the central bank decided to maintain the rate through a unanimous vote, keeping the rate steady for more than a year ...
April 12, 2024
Korean auto exports hit record $17.5 billion in Q1

Korean automobile exports reached a record $17.5 billion in the first quarter of this year, marking a 2.7 percent increase from the same period last year, according to the Ministry of Trade, Industry and Energy on Thursday. Automobile exports surged to $6.2 billion in March alone, following a slig...
April 12, 2024
BOK to keep restrictive stance for longer period amid inflation woes

South Korea's central bank froze its key rate for the 10th straight session Friday, saying that its current restrictive stance will be maintained for a sufficient period of time amid woes over high inflation and household debt. In a widely expected decision, the monetary policy board of the Bank o...

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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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