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The Korea Herald

Markets

July 27, 2022
Seoul jeonse prices fall for the first time in 39 months

The average jeonse price of apartments in Seoul this month fell for the first time in three years and three months as demand dropped due to increased lease renewals and rising interest rates while supply rose. Jeonse is a home rental system in Korea where a tenant pays a lump-sum deposit, instead ...
July 27, 2022
Cheap boxed lunch sales rise amid growing ‘lunchflation’

With South Korea’s consumer prices jumping a whopping 6 percent in June from a year earlier, many workers here are contemplating cheaper options, including takeout boxed lunch, instead of eating out. South Korean boxed lunch takeout chain Hansot Dosirak said Tuesday that its sales in restaurants ...
July 26, 2022
Debate reopens on 10-year-old supermarket shutdown rules

Sundays are often a day for family shopping, but supermarkets in South Korea don’t operate every second and fourth Sunday of each month. Under the mandatory shutdown rules, designated to protect mom-and-pop stores nearby from losing sales to discount store chains, supermarkets have closed twice a...
July 26, 2022
Daewoo E&C develops property technology for work efficiency, customer satisfaction

Daewoo Engineering & Construction will apply property technology it has developed to its construction procedures to optimize work efficiency and customer satisfaction, according to the company on Monday. Property technology is currently recognized as a game changer in the real estate market, utili...
July 26, 2022
Samsung starts shipping world’s first 3nm chips

Samsung Electronics has started shipping chips produced using the world’s most advanced 3-nanometer manufacturing technology, which has drastically improved power consumption and performance. On Monday, the tech giant held a ceremony to celebrate the departure of the first batch of 3nm chips from...
July 26, 2022
Bank of Korea warns against worsening wage-price spiral

The higher people expect prices to soar, the worse a wage spiral becomes as rising living costs prompts bigger wages, with persistent inflation on the rise, the Bank of Korea said Monday in a report. “Prices and wages look like they have nothing to with each other, but in the long run, there is a...
July 26, 2022
Will FTX actually acquire Bithumb?

South Korean blockchain experts on Monday were divided over whether FTX, the cryptocurrency trading platform cofounded by billionaire Sam Bankman-Fried, is actually seeking to buy local exchange Bithumb. Skeptics claimed that the Bahamian crypto exchange has no reason to purchase Bithumb at the mo...
July 26, 2022
LG Energy Solution’s lock-up period set to end

With LG Energy Solution’s stock lock-up period ending this week, market eyes are on the movements of institutional investors, as massive sales of shares may impact a market that remains sluggish with low trading volume. According to the Financial Supervisory Service’s electronic disclosure syste...
July 26, 2022
Dunamu to build metaverse map to aid global relief initiative

Dunamu, the operator of one of South Korea’s largest crypto exchanges, has teamed up with Doctors Without Borders to build a map on its metaverse platform to help the global medical initiative, officials said Monday. Dunamu and Doctors Without Borders, also known as Medecins Sans Frontieres, sign...
July 26, 2022
AmCham resumes Washington Doorknock program

The American Chamber of Commerce in Korea will resume the “Doorknock” program this year after a three-year hiatus caused by the COVID-19 pandemic, it said Monday. AmCham’s delegation of top-level executives, including AmCham Chairman and CEO James Kim, will be in Washington from this Wednesday ...
July 26, 2022
Audi Korea expands electric, compact car lineups

Audi sold a total of 25,615 vehicles in South Korea last year, marking the third-largest sales volume among import carmakers here. The German automaker said it has focused on expanding its lineup to include compact vehicles such as the Audi Q3 and A3, as well as electric cars e-tron S and Q4 e-tro...
July 25, 2022
LG Energy Solution to supply more batteries to Ford

South Korean battery maker LG Energy Solution is poised to bolster business cooperation with US carmaker Ford. LG Energy Solution said Friday that it would provide more batteries for Ford, which has recently seen growing demand for its electric vehicles, such as the Mustang Mach-E and E-Transit. ...
July 25, 2022
DSME creditor warns of bankruptcy over shipyard strike

Daewoo Shipbuilding & Marine Engineering may face a court-ordered rehabilitation process unless action is taken on a monthlong strike there, the company’s main creditor Korea Development Bank said Friday. “It would be more difficult for DSME to repay its debts as the strike drags on … we’re no...
July 25, 2022
AmCham welcomes Yoon’s policy to expand corporate tax breaks

The American Chamber of Commerce in Korea on Friday welcomed the Yoon Suk-yeol administration’s policy to expand corporate tax breaks, which are aimed at promoting active investments and job creation. “AmCham greatly appreciates the willingness of the Korean Government to listen and promptly res...
July 25, 2022
Exporters should brace for advancement of Chinese industries: vice minister

SEJONG -- South Korea needs to brace for a change in trade relations with China, as industries in the global economic powerhouse are undergoing rapid development, First Vice Finance Minister Bang Ki-sun said Friday. At an economy-related vice ministerial meeting in Seoul, Bang said China’s indust...

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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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