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The Korea Herald

Markets

July 28, 2022
Hyundai Motor to join moon surface exploration

Hyundai Motor and its sister company Kia signed a joint research agreement Wednesday with six government-funded research institutes that encompass aeronautics and space capabilities to develop mobility for moon surface exploration, the companies said Wednesday. Through this joint research, they wi...
July 28, 2022
SK hynix logs record quarterly sales, but to review investment plan

SK hynix on Wednesday reported record-high quarterly sales of 13.81 trillion won ($10.6 billion) from the April to June period, but said it would review next year’s investment plans, citing global economic uncertainties and weakening market demand. The world’s second-largest memory chipmaker also...
July 28, 2022
New Pyeongtaek base to provide hydrogen for 430,000 vehicles

SEJONG -- A second hydrogen production base in Korea is set to kick off operations in Pyeongtaek, Gyeonggi Province, next month, to improve energy supply volume to vehicle charging stations in Seoul and neighboring cities. The Pyeongtaek base, located at the Asan Industrial Complex, some 60 kilome...
July 28, 2022
LS Cable eyes global undersea cable market

LS Cable & System is expanding investment and tapping into new markets for undersea cables amid a rapidly growing demand for offshore wind power generation, which requires high-quality subsea cables, as countries began executing policies for carbon neutrality. Early this year, LS Cable inked a dea...
July 28, 2022
New South Wales PM meets businessmen in Seoul at AustCham event

The Australian Chamber of Commerce in Korea said Wednesday that it hosted a business breakfast for Dominic Perrotte, premier of New South Wales in Seoul, on Monday. During the event, which was attended by more than 100 senior business representatives, the premier highlighted the importance of Sout...
July 27, 2022
IMF cuts Korea’s growth prediction to 2.3%

SEJONG -- The International Monetary Fund on Tuesday forecasted that the growth of the South Korean economy would stay under 2.5 percent in 2022 and 2023, respectively, in the wake of global inflationary pressure, China’s economic slowdown and the war between Ukraine and Russia. In its latest wor...
July 27, 2022
Korea‘s growth outlook darkens over poor exports, inflationary pressure

South Korea entering the fog of economic uncertainty became more obvious on Tuesday with the International Monetary Fund revising down the country‘s growth forecast and figures showing that trade deficit for the export-led economy is worsening. In its latest world economic outlook report, the IMF...
July 27, 2022
[MARKET EYE] Could banks trade crypto in Korea?

South Korea’s top financial regulator is looking to allow banks to start trading cryptocurrencies, but experts are wary of whether the agency is as committed to protecting consumers along the way, saying it has so far shown little interest in pursuing it. The latest plan the Financial Services Co...
July 27, 2022
Starbucks Korea to compensate more over claims of toxic giveaway bags

Facing criticism over toxic chemicals claimed to have been found in Starbucks Korea giveaway “summer carry bags,” the company said Tuesday that it is considering additional compensation to appease angry customers. “Depending on the internal investigation result of a formaldehyde level test of t...
July 27, 2022
Chinese envoy warns Korea against ‘interference’ in chip supply chain

The Chinese Ambassador to South Korea urged a Korean lawmaker who leads a parliamentary semiconductor committee to exclude “external interference” in chip supply chains and for closer bilateral cooperation in chips, according to the Chinese embassy in Seoul. “China is willing to work with South...
July 27, 2022
Philips looks to expand self-health care market in Asia

Global health technology giant Philips said Tuesday that it would open up a new era of self-health care in Asia by helping consumers achieve their best state of health with the firm’s lineup of personal health care products. “This approach is especially relevant in Asia, where a growing populati...
July 27, 2022
Biden, SK chief to hold virtual meeting on July 26

US President Joe Biden and SK Group Chairman Chey Tae-won will hold a virtual meeting on Tuesday (US time) to discuss South Korea’s second-largest conglomerate’s spending and hiring plans in the US, according to the White House on Monday. “The president will virtually meet with the chairman and...
July 27, 2022
Valeo to invest W73b in Daegu

French automotive parts maker Valeo will invest 73 billion won ($56 million) in Daegu to advance the autonomous driving market in the city, located 200 kilometers southeast of Seoul, officials said Tuesday. Under the deal signed with the Daegu city government, Valeo will build a factory that manuf...
July 27, 2022
Posco International to supply structural steel to Incheon Airport

Posco International, the trading arm of Posco Group, is supplying Incheon Airport with 23,000 metric tons of structural steel to be used in expanding the airport’s second passenger terminal. They will be supplying curtain walls and roofing materials made with eco-friendly materials until Incheon ...
July 27, 2022
LG Energy Solution to set up battery recycling plant in China

LG Energy Solution said Tuesday it looks to set up its first South Korean-Chinese joint battery cell recycling facilities in China for stable supply of key battery materials from battery manufacturing scraps and used batteries. LG Energy Solution, Korea’s largest lithium-ion battery manufacturer ...

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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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