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The Korea Herald

Markets

July 25, 2022
China’s BYD eyes foray into Korean EV market

BYD, the world’s largest electric vehicle maker, is getting ready for EV sales in the South Korean market, going head to head against the country’s top automaker Hyundai Motor Group with lower price tags and better performing cars. Industry sources said Sunday that BYD recently inked a deal to r...
July 25, 2022
Hyundai Motor Group to get hefty incentives for Georgia EV plant

Hyundai Motor Group will receive benefits worth 2.4 trillion won ($1.8 billion) in tax exemptions and incentives from the US state of Georgia in exchange for building its first dedicated electric vehicles manufacturing plant there. The subsidy package of property and income tax exemptions, as well ...
July 25, 2022
Hana, SKT ink partnership in ESG, digital financing

South Korea’s Hana Financial Group and SK Telecom signed a share-swap deal worth some 400 billion won ($305.3 million) to set up a new environmental, social and governance model, officials said Sunday. “We have signed a strategic partnership with SK Telecom on Friday to build a new cooperative a...
July 25, 2022
Rice consumption cut in half over 30 years

The phrase “Have you eaten rice today?” has long been considered equivalent to “How are you?” in South Korea. But it might not be the case much longer, with rice consumption shrinking amid changing eating habits, especially among younger generations. According to data from Statistics Korea, th...
July 25, 2022
Citibank Korea shares currency solutions for corporate clients

Citigroup’s Korean unit, Citibank Korea, shared its foreign exchange solutions and outlook on the global economy at the Economic Outlook and Market Solutions Seminar held in Seoul on Wednesday. The seminar aimed to have specialists give their latest outlook on the volatile global economy and fore...
July 22, 2022
Matica Biotechnology aims to reach W1tr annual sales by 2030

Matica Biotechnology, local firm Cha Biotech’s US subsidiary, has set out a goal of posting 1 trillion won ($761 million) in annual sales to become a global top five contract development and manufacturing organization business in cell and gene therapy by 2030, the company said Thursday. “The glo...
July 22, 2022
NCSoft’s Universe attracts K-pop fans with exclusivity

Online game developer NC Soft’s K-pop fan community platform Universe is garnering attention with its exclusivity and communicative functions, the company said Thursday. Launched in January, Universe is currently functioning as a global K-pop fandom platform where fans can watch original content ...
July 22, 2022
Hyundai Motor logs best-ever quarterly profit

South Korean automaker Hyundai Motor on Thursday reported its best-ever quarterly result for the April-June period, with operating profit surging 58 percent to nearly 3 trillion won ($2.2 billion) on the back of increased luxury vehicle sales and the weak Korean won. The carmaker’s operating prof...
July 22, 2022
Yoon to expand tax breaks on companies, salaried worker

SEJONG -- The Yoon Suk-yeol administration on Thursday unveiled a new batch of measures aimed at revamping the taxation system, including expanding corporate tax breaks and relieving the tax burden on individuals. It is the first time in 15 years for the government to push to cut income taxes to su...
July 22, 2022
Samsung foldable smartphones close in on 10 million shipments

Ahead of the global unveiling event for Samsung Electronics’ newest mobile lineup, the Z Fold 4 and Z Flip 4, next month, the company’s mobile business chief said Thursday that its foldable series is having its moment with shipments of foldables nearing the 10 million mark. “Last year, we saw a...
July 22, 2022
S. Korea targets W340tr investment for chip supremacy

The South Korean government on Thursday vowed financial and regulatory support to pave the way for the chip industry’s investment of 340 trillion won ($259 billion) over the next five years and nurturing more than 150,000 skilled workers in the field. As chips are increasingly being perceived as ...
July 22, 2022
‘No-spend challenge,’ a growing trend in S. Korea

Kim Ji-yeon, a 29-year-old elementary school teacher, stopped eating out during weekdays and started to eat lunch at a school canteen. Instead of going to cafes after lunch, Kim drinks instant coffee in her office. It has been two weeks since she has not spent any money during weekdays. “I first ...
July 22, 2022
SK Inc. to provide interim dividend for 5th consecutive year

SK Inc., the investment arm of SK Group, on Thursday, said it has decided to give interim dividends for the fifth year in a row, showing its continued commitment to its shareholders. According to SK Inc., the board of directors agreed to pay interim dividends of 1,500 won ($1) per share, the same ...
July 22, 2022
LG Chem exports first plant-based phenol, acetone

LG Chem is exporting its first bio-balanced phenol and acetone products to Germany, the company said Thursday. According to LG Chem, the exports that were made from biomaterials such as waste vegetable oil are eco-friendly products certified by the International Sustainability and Carbon Certifica...
July 22, 2022
Hyundai Oilbank ditches IPO

Hyundai Heavy Industries Group’s refining affiliate Hyundai Oilbank has withdrawn its application for an initial public offering with local bourse operator Korea Exchange, the firm said Thursday. The decision, which was reached Wednesday, comes after a general evaluation of the recent stock marke...

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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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