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The Korea Herald

Markets

August 01, 2022
[Market Eye] Will Samsung make cars again?

“Will Samsung make cars again?” is a decades-old question that has dogged the tech giant since it sold off its automotive business to Renault Group during the Asian financial crisis in the late 1990s. Samsung has seen success in almost every sector it has entered, but making and selling its own ...
August 01, 2022
GS Entec enters offshore wind power business

South Korean equipment and facilities manufacturer of chemical and energy plants, GS Entec, has signed a strategic partnership with Sif Netherlands BV to enter the offshore wind power business, the company said Sunday. GS Entec will introduce the Dutch firm’s monopile manufacturing technology und...
August 01, 2022
FTC puts off plan to hold foreign CEOs more responsible

South Korea’s antitrust regulator has decided to put a brake on its plan to formally designate foreign business leaders of large corporations here amid looming concerns it could breach the Korea-US Free Trade Agreement. According to multiple sources at the government and local reports, the Fair T...
August 01, 2022
[Behind the Wheel] Seltos revamp is more than meets the eye

Design-wise, the new Seltos is not much different from the old version but in terms of performance, Kia’s facelifted compact SUV has changed so remarkably that it almost seems like a complete reworking. From the front, it is hard to tell the difference between the new Seltos and the previous vers...
July 31, 2022
Hanwha revamps defense business, with aim to create ‘Korea Lockheed Martin’

South Korean defense-to-energy giant Hanwha Group said Friday that it is revamping its business structure to maximize synergy among defense units with an aim to mimic the success of Lockheed Martin, the US-based aerospace and defense company. Under the scheme, Hanwha Aerospace, its largest defense...
July 31, 2022
Skepticism grows over Yoon’s war against illegal stock short selling

South Korea’s Yoon Suk-yeol administration has declared war on the nation’s “deep-rooted” practice of illegal short selling, but retail investors and onlookers are expressing skepticism on whether the practice could really be uprooted. On Thursday, financial authorities and top prosecutors war...
July 31, 2022
New visa program aims to attract more tech talent

The South Korean government will introduce a new visa category called E-7-S in October to attract more global professionals into the nation’s high-tech industries. The current E-7 visa is an employment visa for foreign nationals in white collar industries, but complaints have grown because only w...
July 31, 2022
Krafton’s popular battle-royale game banned in India

South Korean gaming giant Krafton’s popular battle-royale format game Battleground Mobile India, the Indian version of its global smash hit PlayerUnknown’s Battlegrounds, has been slapped with a download ban in India, its Seoul headquarters confirmed Friday. Both Google and Apple removed the gam...
July 31, 2022
Yoon to slash payroll at public firms in 2023

SEJONG -- The Yoon Suk-yeol administration on Friday unveiled a policy scaling back payrolls at 350 public firms nationwide next year, as part of its effort to raise overall productivity and eradicate negligent management of some state-run agencies. It also plans to revamp the wage payment structu...
July 31, 2022
Posco secures $1b through overseas debt sale

Posco said Friday that it has raised $1 billion by selling debts overseas, the largest corporate bond issuance by a South Korean company this year. According to the South Korean steel giant, the two-tranche debt consists of three-year bonds worth $700 million and five-year bonds worth $300 million...
July 31, 2022
Widodo asks Hyundai Motor to join capital relocation project

Indonesian President Joko Widodo requested the head of South Korean carmaker Hyundai Motor Group to provide clean mobility in the Southeast Asian country’s grand administrative city project during their meeting in Seoul, the company said Thursday. Earlier this year, the Indonesian parliament pass...
July 31, 2022
Samsung’s profit surges 12% in Q2 on server demand, premium phone sales

Samsung Electronics logged an operating profit of 14.1 trillion won ($10.77 billion) during the second quarter, up 12.2 percent from the previous year despite rising material prices and recession fears that are weakening consumer demands, the company said Thursday. The South Korean tech giant’s q...
July 31, 2022
Fiscal chief downplays fear of capital outflow despite Fed’s rate hikes

SEJONG -- The nation’s top economic policymaker on Thursday downplayed the possibility of an active capital flight among foreign investors, saying that the US Federal Reserve’s latest rate hike, which now stands higher than South Korea’s, was carried out within the market expectation. “The US ...
July 31, 2022
Posco Chemical signs W13tr cathode deal with GM

Posco Chemical, the chemical materials unit of South Korean steel giant Posco, signed a deal to supply General Motors with 13 trillion won ($10 billion) worth of cathode materials on Thursday. Cathode materials determine the capacity and average voltage of batteries. With the deal, Posco will now...
July 31, 2022
Shinsegae Food launches plant-based canned ham

Shinsegae Food said Thursday that it plans to enter the global alternative meat market with its newly launched plant-based canned ham. “Hormel Foods’ Spam has dominated the global canned ham market since 1926. But in almost 100 years, we have become the first to make a vegan canned ham that has ...

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