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The Korea Herald

Markets

June 30, 2022
Kospi’s rebound to 3,000 unlikely to happen anytime soon

When South Korea’s key stock index surpassed the 3,000-mark for the first time in its 40-year history in January 2021, it seemed the bull market would last forever. But risks stemming from high inflation, fears of recession and the global supply bottleneck this year has beaten down the index down ...
June 30, 2022
Korean minister visits Czech Republic for reactor project bid

SEJONG -- South Korea has recently carried out a senior-level promotion of its nuclear energy technologies in the Czech Republic, in an attempt to win a reactor project in the European nation, the Energy Ministry said Wednesday. At the center of the promotion activities was South Korean Minister o...
June 30, 2022
LG Energy Solution reconsiders US battery plant in fear of surging costs

LG Energy Solution said Wednesday that it is reviewing the profitability of its new battery plant in the US, citing growing uncertainties surrounding inflation woes and unfavorable foreign exchange movement. In March, the world’s second-largest electric vehicle battery maker announced plans to bu...
June 30, 2022
BMW Group Korea launches BMW Service Care Plus

BMW Group Korea said Wednesday that it has launched a digital vehicle management program, BMW Service Care Plus, last month, the first of its kind in the automobile industry. The service was launched to meet the needs of an expanding customer base, according to the company. Customers with BMW veh...
June 30, 2022
Korea approves 1st homegrown COVID-19 vaccine

South Korea has authorized its first homegrown COVID-19 vaccine, finally securing vaccine sovereignty almost 30 months since the pandemic began. The government on Wednesday announced the official approval of SKYCovione, a recombinant protein-based COVID-19 vaccine developed by SK Bioscience, after...
June 30, 2022
LG turns to clean tech as future growth driver

LG Group is betting big on clean energy technology as part of its ongoing efforts to seek future growth drivers that are also environmentally sustainable. LG Corp., the holding unit, said Wednesday that LG Group plans to inject 2 trillion won ($1.55 billion) in the next five years into the fields ...
June 30, 2022
KB Kookmin provides $300m for Kennedy Airport redevelopment

KB Kookmin Bank, South Korea’s top lender said Wednesday that it will join other financial institutions in a $6.6 billion syndicated loan package to finance the John F. Kennedy International Airport’s Terminal One redevelopment project in New York. KB Kookmin will contribute $300 million of the ...
June 30, 2022
Dunamu unveils speakers at blockchain developers’ conference

Dunamu, operator of popular crypto exchange Upbit, said that experts representing the latest blockchain trends such as non-fungible tokens and metaverse gaming will attend its annual developers conference as speakers. The Upbit Developer Conference 2022 will be held for two days from Sept. 22 at t...
June 30, 2022
Duty-free shops open cross-border sales to secure overseas consumers

South Korea’s duty-free shops are launching cross-border sales services starting Friday with high hopes to secure consumers overseas, as they are losing price advantage to local clients due to high won-dollar exchange rates. Lotte Duty Free opened the overseas shipping service on Wednesday, which...
June 30, 2022
Meta, Seoul National Univ. launch joint research center

Meta, formerly Facebook, said Wednesday it has launched a joint research center with Seoul National University to study extended reality (XR) technology and metaverse policies. The new facility, called XR Hub Korea, is part of Meta’s ”XR Program Research“ which kicked off last year as a collabo...
June 29, 2022
Helixmith to announce results of Engensis’ second phase 3 clinical trials next month

Local gene therapy biotech firm Helixmith will announce the results of Engensis’ second phase 3 clinical trials for diabetic peripheral neuropathy next month, officials said Tuesday. “We were hoping to announce the results of Engensis’ second phase 3 clinical trials today, but the (independent ...
June 29, 2022
4 years in, Koo’s leadership still in making

LG Group Chairman Koo Kwang-mo on Wednesday marks his fourth anniversary at the helm of the nation’s fourth-largest conglomerate, with his leadership taking shape, though not yet completed. Koo, then 40, took office as chairman and CEO of LG Corp., the holding unit, on June 29, 2018, following th...
June 29, 2022
Court greenlights KG Group’s acquisition of SsangYong Motor at W900b

A Seoul bankruptcy court on Tuesday approved a local consortium led by chemical-to-steel firm KG Group to acquire a 58.85 percent stake in SsangYong Motor at a reported 900 billion won ($700 million), ending a two-way race to acquire the debt-ridden South Korean SUV maker. SsangYong has been under ...
June 29, 2022
ViBac 2022 organizers, ASOK sign deal for cooperation

Organizers of an international expo on the virus and bacteria industry said Tuesday that they signed a memorandum of understanding with the Association of American State Offices in Korea to host the 2022 International Virus and Bacteria Industry Expo, or ViBac. Under the memorandum, which was sign...
June 29, 2022
Posco opens sample house for Geochang project

Posco Engineering & Construction, a construction unit under steel giant Posco, opened a second sample house for the Sharp Geochang Porsiel as it prepares to officially begin sales, the company said Friday. The second Sharp Geochang Porsiel complex comprises six 22-story buildings, and a total of 4...

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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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