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The Korea Herald

Markets

June 19, 2022
Rising ‘lunchflation’ drives Korean workers to look for cheaper options

For Kim Sang-ji, a 28-year-old white-collar employee working at a trading company in Seoul, healthy lunch meals had been her usual choice -- until recently. Now, she heads to a convenience store nearby. When picking up a 5,000 won ($3.80) lunchbox or a 2,000 won gimbap roll, she feels unsatisfied. ...
June 19, 2022
Samsung Electronics shares plummet to 52-week low

Samsung Electronics shares, which account for some 18 percent of South Korea’s benchmark Kospi’s market capitalization, closed at a 52-week low on Friday hit by the prolonged global memory chip supply shortage coupled with concerns of an economic slowdown. The market bellwether closed at its low...
June 19, 2022
Korea far outpaces OECD average in inheritance tax: report

SEJONG -- South Korea far outstripped the average of the Organization for Economic Cooperation and Development in the ratio of inheritance and gift tax revenues to gross domestic product, a local think tank said Friday. In a report, the Korea Economic Research Institute said Korea posted 0.5 perce...
June 19, 2022
Kospi slumps to sub-2,400 points in 19 months on US inflation woes

South Korea’s key stock index plunged below the 2,400-point threshold for the first time in 19 months on Friday, weighed down by risks stemming from the US Federal Reserve’s boldest rate hike in nearly two decades. The benchmark Kospi opened 1.7 percent lower from its previous closing of 2,409.7...
June 19, 2022
Elon Musk’s mother hired as face of Ceragem

Ceragem, a South Korean medical appliance company, said Thursday that it has hired Maye Musk, mother of Tesla CEO Elon Musk, as a global ambassador for the brand. Ceragem manufactures and sells back warmers inspired by the traditional Korean floor heating system, known as “ondol.” With the produ...
June 19, 2022
[Exclusive] Samsung Biologics to join RE100

SAN DIEGO -- Samsung Biologics, the world’s largest contract development and manufacturing organization by production capacity, will join the global RE100 renewable energy initiative as early as next month, a source familiar with the matter said Wednesday. Led by the Climate Group in partnership ...
June 19, 2022
Kepco demands Q3 electricity rate hike

The state-run Korea Electric Power Corp. demanded an electricity rate hike for the three months starting July amid rising fuel costs and record losses. The company on Thursday submitted its rate outline to the Ministry of Trade, Industry and Energy and the Ministry of Economy and Finance, which wi...
June 19, 2022
S. Korea engulfed by rising stagflation fears

Fears over rapid inflation and sluggish growth are gripping South Korea, with indicators pointing to a gloomy outlook and authorities conceding that Asia’s fourth-largest economy is facing a “full-blown crisis.” The Finance Ministry on Thursday revised up its inflation forecast for this year to...
June 19, 2022
[KH Explains] EV scare building up in Korea over a series of battery fires

Early this month, an electric vehicle caught fire in Busan, sparking safety concerns among drivers of battery-powered cars. It was an Ioniq 5, Hyundai Motor’s all-electric model, that went up in flames just three seconds after crashing into a highway toll gate. The driver and one passenger in th...
June 19, 2022
Legal logic takes new twist in SK-Netflix dispute

Litigation in the high court between internet provider SK Broadband and global streaming service Netflix is taking a twist, as Netflix invokes new logic to argue it has no obligation to pay network usage fees to the South Korean company. Legal representatives of Netflix argued in a Seoul High Cour...
June 19, 2022
Posco International expands eco-friendly energy business in Australia

Posco International, the trading arm of Posco Group, is seeking to triple sales at two of its gas fields in Australia by 2025 by leveraging its recently acquired Australian energy company Senex Energy, the Korean firm said Thursday. Posco International CEO Joo Si-bo visited the Senex Energy headqu...
June 19, 2022
Korean retail investors’ fears grow on stock, crypto meltdown

Retail investors who enjoyed record-low borrowing costs and abundant market liquidity during the COVID-19 pandemic have quickly come to face growing risks from plummeting stock and crypto markets hit by 40-year high inflation in the US and the rapid rate hikes that have followed. The benchmark Kos...
June 19, 2022
Yoon to carry out deregulations, tax reform to pursue market-oriented economy

SEJONG -- The Yoon Suk-yeol administration on Thursday unveiled a five-year plan to pursue a business-friendly and market-oriented economy by carrying out intensive deregulatory measures and alleviating the corporate tax burden. In a major shift from the previous administration’s liberal agenda o...
June 16, 2022
Lotte hints at major portfolio shift to expand bio businesses

SAN DIEGO -- Lotte Group, South Korea’s fifth-largest conglomerate, will look to bolster its recently launched bio sector by scaling down the current four main business areas -- chemicals, food, hotels and retail -- and possibly putting one of them up for sale. “Our goal is to grow our bio and h...
June 16, 2022
BTS’ hiatus announcement rattles Hybe shares

Shares of Hybe, the agency behind K-pop sensation BTS, fell almost 25 percent on Wednesday, rattled by the boy band’s announcement that it will take time off from group activities to pursue solo projects. Hybe shares closed 24.87 percent lower from the previous session at 145,000 won ($112.5). I...

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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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