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The Korea Herald

Markets

June 14, 2022
Samsung Biologics boasts top-tier production capacity at BIO International

SAN DIEGO -- Samsung Biologics is showcasing its top-tier production capacities at the world’s largest biopharmaceuticals exhibition, the South Korean company said Monday. Taking part in the BIO International Convention for the 10th consecutive year, Samsung Biologics has set up a sizable 140-squ...
June 14, 2022
Kospi hits 19-month low as US inflation skyrockets

South Korea’s benchmark Kospi closed at 2,504.51 points Monday, its lowest level since Nov. 13, 2020 when it fell to 2,493.87 points, as investors priced in a big-step US rate hike amid a record annual increase in US consumer prices in May. A month earlier, US consumer prices surged 8.6 percent o...
June 14, 2022
Food packages get smaller for customers weary of inflation

Amid price hikes and rising food bills, retailers in South Korea have come up with a new marketing strategy to keep customers satisfied. Convenience store chain CU has launched packages of vegetables, meat and fruit that are smaller than the ones they usually sell, the company said. The store cha...
June 14, 2022
Is Lee Jae-yong regaining enthusiasm for EV batteries?

LG Energy Solution and SK One are spending big to elevate their annual manufacturing capacity to some 180-gigawatt hours by 2025, respectively, while Samsung SDI just recently announced plans to increase its capacity to 23 GWh in a joint venture with Stellantis. “Samsung has always stressed its ‘...
June 14, 2022
[Herald Interview] ‘Even in bearish market, K-pop-themed ETF will shine’

Lee’s decision to combine elements of K-pop and ETFs emanate from his experience of launching Mapiacompany, a music score IP investment firm, in 2016 followed by co-leading Beyond Music, a local music IP investment and song management company also founded last year by the 29-year-old innovator. B...
June 14, 2022
Manufacturing industry suffer W1.6tr loss from truckers‘ strike: ministry

The ongoing strike by unionized cargo truckers which began last week is estimated to have caused at least 1.6 trillion won ($1.2 billion) in losses for manufacturers, the Industry Ministry said Monday. Carmakers may have seen some 257 billion won in losses as the sit-in protest paralyzed supply de...
June 14, 2022
LG Energy Solution unveils W730b plan to mass-produce EV batteries

South Korean lithium-ion battery cell maker LG Energy Solution on Monday unveiled a 730 billion won ($567 million) plan to mass-produce batteries for electric vehicles here, including the next-generation 4680-type cylindrical batteries, which are bigger than current conventional designs. In an app...
June 10, 2022
Businesses cornered as cargo truckers‘ strike disrupt supply

Manufacturers in auto, steel and construction fields that rely heavily on supply trucks expressed concerns Thursday over intensifying logistics disruptions caused by a unionized cargo drivers’ strike. Industry sources said the same day that the country’s largest automaker Hyundai Motor Group has...
June 10, 2022
KT vows to spend W27tr on network, AI, cloud over 5 years

South Korean telecommunications giant KT said Thursday it plans to spend a combined 27 trillion won ($21.5 billion) in the field of network infrastructure, artificial intelligence and cloud computing over the next five years until 2026. KT, Korea’s largest telecommunications firm by revenue as of...
June 10, 2022
LG Uplus to launch AI voicebot, recommendation tools

South Korean telecommunications carrier LG Uplus is poised to discover more commercial use cases of artificial intelligence, as it looks to launch a voicebot for mom-and-pop stores and a personalized recommendation system for its TV viewers and online shoppers, the firm’s head of data said Thursda...
June 10, 2022
Hyundai Steel develops high-quality alloy steel for EVs

Hyundai Steel said Thursday it has developed high-quality alloy steel that reduces noise emitted by electric vehicles. The steelmaking technology was jointly developed with Hyundai Motor Group and its affiliate, Kia, and was certified as a New Excellent Technology by the Ministry of Trade, Industr...
June 10, 2022
Yoon’s economic policy direction to be unveiled next week

SEJONG -- The nation’s fiscal chief said Thursday that the Ministry of Economy and Finance will unveil the economic policy direction of the Yoon Suk-yeol administration next week, which highlights a full-fledged deregulation scheme for businesses as well as measures to tame inflation. At a minist...
June 10, 2022
SK hynix to supply industry’s first HBM3 chip to Nvidia

SK hynix said Thursday it has started mass production of HBM3, the world’s best-performing DRAM, or dynamic random access memory, product, with the first batch being supplied to US chip giant Nvidia. Referring to high-bandwidth memory, the latest development vertically interconnects multiple DRAM...
June 10, 2022
AmCham discusses ESG risks

Business leaders and experts from South Korea and the US discussed solutions to tackle sustainability risks facing businesses during a Seoul seminar hosted by the American Chamber of Commerce in Korea on Thursday. AmCham Korea Chairman and CEO James Kim stressed that doing business in responsible ...
June 10, 2022
Merck completes expansion of OLED facilities in Pyeongtaek

Merck Korea, the local subsidiary of the German science and technology giant, said Thursday that it has completed expansion work of its local production plant in Pyeongtaek, Gyeonggi Province. In October 2020, the company announced plans to invest 20 million euros ($21 million) into expanding faci...

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EDITOR'S PICKS

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
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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