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The Korea Herald

Markets

July 31, 2022
[Newsmaker] Starbucks Korea admits giveaway bags had cancer-causing chemicals

Starbucks Korea on Thursday admitted that its summer giveaway bags had cancer-causing chemicals, and vowed to provide compensation to its customers with gift coupons. “We deeply apologize to our customers who are disappointed in us for the recent issue (surrounding the giveaway bags),” Starbucks...
July 31, 2022
LG, SoundHound team up for in-car voice assistant

LG Electronics said Thursday it has teamed up with US audio specialist SoundHound to develop an artificial intelligence-based voice system for vehicles with demand growing for both driving convenience and safety. Best known for its music recognition service, Santa Clara, California-based SoundHoun...
July 31, 2022
LG Chem, GS Caltex join hands to build white bio ecosystem

LG Chem and GS Caltex on Thursday held a ground-breaking ceremony at GS Caltex Yeosu plant for its new bio-material demonstration plant, which would contribute to building a white ecosystem, officials said. The demo plant at GS Caltex‘s Yeosu complex will mainly produce 3-Hydroxypropionic acid pr...
July 31, 2022
Sidewalk robots, new visas among 51 regulatory reforms

The government on Thursday unveiled a total of 51 regulatory reform projects across industries as part of effort to spur both innovation and investment. Easing excessive regulations is one of the campaign pledges of President Yoon Suk-yeol. Thursday’s announcement is the first batch of the plans ...
July 31, 2022
SK On to attract $2b loan to back 3rd battery plant in Europe

South Korean lithium-ion battery cell maker SK On announced Thursday that it plans to attract a combined $2 billion loan to ramp up its push for a new battery plant in Europe. The green financing will come from seven commercial banks with three export credit agencies -- Korea Trade Insurance Corp....
July 31, 2022
Launch of Korea’s 1st lunar mission ‘Danuri’ delayed

The highly anticipated launch of Danuri, South Korea’s first lunar mission, has been postponed at least two days, the Ministry of Science and ICT said Thursday. Danuri’s launch, which was planned to take place on Aug. 2 from the Cape Canaveral Space Force Station in Florida on a SpaceX Falcon ro...
July 31, 2022
Drug Ministry looks to become 1st WHO-listed authority

South Korea’s Ministry of Food and Drug Safety aims to become the first regulatory body recognized by the World Health Organization to hold globally recognized authority for granting domestic permits for new drugs by December, officials said Thursday. Introduced earlier this year, the WHO-Listed ...
July 31, 2022
Eximbank runs economic emergency taskforce

The Export-Import Bank of Korea said Thursday its executives, including its new CEO and heads of relevant departments, discussed credit support plans to help businesses tide over inflation, high interest rates and the weakening Korean won. Based on judgment that the unstable global supply of raw m...
July 31, 2022
S. Korean customs control goes online

South Korea’s customs office said Thursday it will launch an online customs declaration platform and an automated customs examination service at Korea‘s major international airports, beginning in August. Travelers entering Korea through Gimpo Airport and Incheon Airport Terminal 2 can now declar...
July 28, 2022
Inflation outlook hits all-time high as growth prospects dim

South Koreans expect prices to rise at a record level in the next 12 months and the economy to underperform, a Bank of Korea survey showed Wednesday, as the export-led economy faces shrinking growth over poor exports. In a monthly survey of 2,500 households conducted July 11-18, consumers forecast...
July 28, 2022
SK chief unveils $22b investment plan in meeting with Biden

SK Group Chairman Chey Tae-won on Tuesday (US time) announced South Korea’s second-largest conglomerate’s new $22 billion investment plan in the US in his meeting with President Joe Biden at the White House. Biden, in return, touted SK’s new multi-billion dollar commitment as one of the “most ...
July 28, 2022
LG Energy Solution raises growth target on upbeat demand

LG Energy Solution on Wednesday announced an upgraded growth plan consisting of a threefold growth in sales and a two-digit operating profit ratio in the next five years. This year’s sales target has also been elevated to 22 trillion won ($17 billion) from 19.2 trillion won. The ambitious plan co...
July 28, 2022
LG Chem to supply cathode materials to GM over 8 years

South Korean battery material firm LG Chem announced Wednesday plans to supply at least 950,000 metric tons of cathode active materials used for electric vehicles to General Motors over the next eight years -- enough for some 5 million cars. Under the supply agreement, LG Chem will supply nickel, ...
July 28, 2022
Coins ‘luna, terraUSD had obvious design flaws’: crypto pioneer

When algorithmic stablecoin terraUSD and its sister luna was introduced in 2018, it was widely touted as “revolutionary.” Now, the algorithmic disaster that has sent shockwaves across the cryptocurrency market was one that was “waiting to happen,” according ethereum founding member and crypto e...
July 28, 2022
Samsung to help local logic chip designers save prototype costs

Samsung Electronics’ semiconductor chip foundry business looks to help select smaller chip design houses to create prototypes and validate the pre-production concepts of their own chips. According to the Ministry of SMEs and Startups, Samsung will offer multi-project wafer shuttle services to fiv...

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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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