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The Korea Herald

Markets

August 08, 2022
Travelers to S. Korea get higher duty-free allowances

Travelers going to South Korea will be able to bring in duty-free goods worth up to $800, up from $600, as the Korean government seeks to reflect a surge in per capita income and help ramp up sluggish international tourism amid the pandemic. The Finance Ministry said Friday that the easing of cust...
August 08, 2022
KIPO signs deal with France for patent cooperation

Starting Sept. 1, the patent evaluation process for South Korean companies in France will become more streamlined, according to the Korea Intellectual Property Office. KIPO chief Lee In-sil on July 14 signed a memorandum of understanding with her French counterpart, Pascal Faure, along the sidelin...
August 08, 2022
S. Korea’s first lunar orbiter successfully reaches ballistic lunar transfer trajectory

South Korea’s first lunar orbiter Danuri launched into space on Friday morning, and successfully reached the ballistic lunar transfer trajectory, a path that will take it toward the moon, the Ministry of Science and ICT said. The Korea Aerospace Research Institute confirmed from its ground contro...
August 08, 2022
IFC names veteran insider as Asia chief

The International Finance Corporation said Friday that it named insider Ruth Horowitz as vice president for Asia and the Pacific, bringing in the veteran who most recently headed the group’s Asset Management Company, which invests in developing countries. Horowitz, who spent the last 23 years at ...
August 08, 2022
Philip Morris Korea faces business suspension for failed notification of ingredients

SEJONG -- The Ministry of Economy and Finance is considering taking punitive action against Philip Morris Korea for not complying with the government’s request for notification regarding the testing results of a cigarette product. Market insiders say the government might suspend the US tobacco ma...
August 08, 2022
SKIET signs partnership with Vietnam‘s Vingroup to supply EV battery separator

SK IE Technology (SKIET), a material solution provider SK Group, said Friday that it has signed an agreement with Vietnam’s largest conglomerate Vingroup to supply electric vehicle battery separators to its EV battery manufacturing affiliate VinES. The two firms clinched a deal on July 26th, when...
August 05, 2022
3 new zones selected to boost mobility business

The Ministry of SMEs and Startups said Thursday it has designated three new regions -- South Jeolla, North Gyeongsang and South Gyeongsang Provinces -- as regional vanguards to boost South Korea’s eco-friendly mobility business. According to the ministry, the three selected zones will be exempt f...
August 05, 2022
Korea’s work flexibility still far more rigid than advanced economies

Despite changes in corporate culture that place more value on the quality of work environments, South Korea still has a more rigid working hour system compared to advanced economies, according to a report by the business lobby organization Federation of Korean Industries released Thursday. The repo...
August 05, 2022
BMW, Mercedes-Benz in tight race for top importer

Two German carmakers are in a tight race to take the top spot in South Korea’s imported car market this year, with BMW chasing its rival Mercedes-Benz closely to dethrone it from its seven-year run in the No. 1 position. According to the Korea Automobile Importers and Distributors Association on ...
August 05, 2022
[Newsmaker] Korea to shoot for the moon Friday

South Korea’s first lunar mission, Danuri, is all set to be launched into space on a SpaceX Falcon rocket on Friday morning, the Ministry of Science and ICT said Thursday. According to the ministry, the SpaceX Falcon rocket has been erected at the Cape Canaveral Space Force Station in Florida as ...
August 05, 2022
Wealth transfers to Koreans aged under 30 up 106% in 2021

SEJONG -- The tally for cases of wealth transfers to Koreans aged under 30 surged by 106 percent last year, compared to the previous year, after a gradual increase between 2017 and 2020, data from the national tax agency showed Thursday. According to the National Tax Service’s data, given to Rep....
August 05, 2022
Telcos to launch first-ever JV for thin filers’ financial accessibility

South Korean mobile carriers are set to launch a joint venture for the first time to join forces in enhancing financial accessibility and realizing ESG management values. The joint venture will be using nonfinancial credit evaluation services based on the three telecommunications carriers’ collec...
August 05, 2022
Samsung to supply 5G equipment to India’s Airtel

Samsung Electronics said Thursday that it has inked a deal to supply 5G network equipment to India’s telecom giant Bharti Airtel, its first 5G equipment deal made in the world’s second-largest telecom market. On Wednesday, Airtel, India’s No. 2 telecom carrier and the No. 4 globally with 490 mi...
August 04, 2022
‘Big step’ could drag down housing prices by 2.8%: BOK

Home prices could drop as much as 2.8 percent in two years once the Bank of Korea raises its policy rate by a full percentage point or 100 basis points, the central bank said in a report Wednesday. The report, which focused on analyzing how a rate change affects home prices without studying factor...
August 04, 2022
Carmakers expand reach to e-bikes

In April, the Korean carmaker has applied for a patent on an electrified tricyle design in the US. The special design comes with movable wheels so the wheelbase can fixed wider or narrower. The Korean automaker also unveiled a 7.7-kg Ioniq e-scooter in 2019, which is attached with 10.5Ah lithium-i...

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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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