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The Korea Herald

Markets

July 19, 2022
SK E&S to invest W33b in turquoise hydrogen producer in US

SK E&S, an energy unit of South Korean conglomerate SK Group, said Monday it would invest 33 billion won ($25 milion) in a clean hydrogen and materials company in the US. Headquartered in Nebraska, Monolith Materials is currently the only company to have successfully commercialized turquoise hydro...
July 19, 2022
Damage claims surge over frequent flight cancellations

The number of damage claims over canceled or delayed flights has increased as airlines struggle with manpower shortages, according to the Korea Consumer Agency on Monday. A total of 213 air service-related cases requesting compensation were submitted from January to May this year. In April, when S...
July 19, 2022
Kyobo, Affinity on blame game over IPO rejection

South Korea’s Kyobo Life Insurance and its second-largest shareholder -- a consortium led by Affinity Equity Partners -- are blaming each other for its recent failure to carry out an initial public offering. The blame game follows the decision of the nation’s sole bourse operator Korea Exchange ...
July 18, 2022
Weak won set to persist with US intent on more rate hikes

The South Korean won could further depreciate against the US dollar in months to come as long as the US backs aggressive monetary tightening to fight raging inflation, analysts said, as the Korean currency weakened to a 13-year low of 1,326.1 won per US dollar Friday. The breach of the 1,300 won p...
July 18, 2022
Hyundai takes lead in EV efficiency with Ioniq 6

Hyundai Motor is expected to renew energy efficiency competition among electric vehicles, with its upcoming Ioniq 6 boasting the world’s best energy efficiency. The Ioniq 6, Hyundai’s second all-electric vehicle that made its global debut at the Busan Motor Show on Thursday, has an energy effici...
July 18, 2022
Samsung beats TSMC in advanced smartphone chipset foundry market

Samsung Electronics’ contract-based chip manufacturing operations have surpassed Taiwan-based foundry rival TSMC in terms of smartphone chipset shipments on advanced nodes in the first quarter, data showed Sunday. Samsung captured some 60 percent of market share in the leading nodes of 5-nanomete...
July 18, 2022
HanAll’s myasthenia gravis drug enters phase 3 trial

HanAll Biopharma’s antibody therapy candidate for myasthenia gravis -- HL161, also known as batoclimab, a subcutaneous anti-FcRn antibody designed to treat autoimmune diseases -- has entered phase 3 clinical trials in the United States, the South Korean biotech said Sunday. Myasthenia gravis, or ...
July 18, 2022
Over half of Korean exporters concerned by lack of ESG preparedness

Over half of Korean exporters believed that their contracts with customers could be scrapped due to the lack of preparedness for environment, social and governance management, a survey conducted by the Korea Chamber of Commerce and Industry showed Sunday. According to the KCCI’s survey, 52.5 perc...
July 18, 2022
‘Myeongdong to recover from pandemic woes’

The empty, desolate streets of Seoul’s Myeong-dong shopping district have become a real estate nightmare for its landlords and inhabitants since the outbreak of the COVID-19 pandemic. But hope is not lost, according to Robert Wilkinson, managing director of Colliers’ Korea, the local branch of t...
July 17, 2022
Coffee delivery robots roll into Incheon airport

Travelers with little time to wait in long queues at airport cafes can now pick up a cup of coffee and a sandwich from delivery service robots at Korea‘s largest airport. Local food delivery app Baemin said Friday it launched a robot delivery service for airport cafes and bakeries located in Inch...
July 17, 2022
Korean won sinks to 13-year low against US dollar

The South Korean currency fell below the 1,320-won mark against the US dollar for the first time in more than 13 years during morning trading on Friday, with analysts warning that the won could lose further value. The won was trading at 1,326 won against the greenback at around 2:30 p.m., after br...
July 17, 2022
Korea to provide W68tr in policy financing to small merchants, young borrowers

SEJONG -- The government will offer policy financing worth 68 trillion won ($51 billion) to small merchants and the underprivileged on a step-by-step basis, starting from the end of July, the Finance Ministry said Friday. Government-initiated low-interest loans will be divided: 43 trillion won wil...
July 17, 2022
Lotte, Shinsegae to build whiskey distilleries in Jeju

Retail giants Lotte and Shinsegae are set to enter the whiskey business by constructing distilleries on Jeju Island, home to some of Korea’s best-quality water. Lotte Chilsung Beverage, Lotte Group’s beverage arm, said Friday that it has recently received the green light from Jeju to change a fo...
July 17, 2022
Yoon vows debt relief for low-income group after record rate hike

President Yoon Suk-yeol pledged Thursday to help low-income earners with their mounting debt burdens, a day after the central bank made its biggest single rate hike to tame persistent inflation, at a weekly meeting he convened for the second time. The meetings deal with pressing economic issues af...
July 17, 2022
Seoul pressured to join chip alliance against China

The growing call on South Korea to participate in the United States-led chip alliance across East Asia is putting the semiconductor powerhouse, home to Samsung and SK hynix, again in a strategic dilemma. Sitting in the crosshairs of US-China economic warfare, Korea is being pressured to choose a s...

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