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The Korea Herald

Markets

February 29, 2024
[KH Explains] What does Apple's dead car project mean for Samsung, Hyundai?

Earlier this week, Apple announced that it will ditch its decade-long electric car project, saying more resources will be poured into artificial intelligence in the future. An Apple-made electric car had long been a buzzword across industries. Carmakers had braced for a direct threat, while tech r...
February 29, 2024
Chanel boutique shuts down in protest of Gucci pop-up

French luxury fashion house Chanel has closed its boutique within a Seoul department store, citing operational disruptions caused by Italian rival Gucci. "Chanel has decided to close its boutique in the Galleria Department Store Luxury Hall starting Wednesday due to the department store's plan to ...
February 29, 2024
Yoon, Zuckerberg discuss AI, digital ecosystem in Seoul

President Yoon Suk Yeol met with Mark Zuckerberg, CEO of Meta, formerly Facebook, on Thursday to discuss ways to enhance cooperation in cutting-edge technologies, especially artificial intelligence, upon the US tech giant’s request. The presidential office confirmed that Yoon and Zuckerberg met a...
February 29, 2024
LG Uplus seeks partnership with Google, Meta in AI push

LG Uplus, one of the top three telecommunications providers in South Korea, has announced its venture into the generative AI field with the introduction of its AI model, ixi-GEN, setting the stage for competition with its larger rivals SK Telecom and KT in offering AI-driven services for consumers ...
February 29, 2024
KGC debuts vegan skincare brand Lab 1899 in US

Korea Ginseng Corp., the country’s leading ginseng product manufacturer, said on Thursday it has made a foray into the US market by unveiling its vegan skincare brand, Lab 1899. As the global leader in vegan product consumption, the US market commands a 35 percent share of the worldwide vegan pop...
February 29, 2024
Hyundai's Hillstate Dongtan Forest offers unique opportunities

Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province. The complex, featuring eight 20-level buildings and offering...
February 29, 2024
Starbucks Korea donates W100m to mark March 1st Movement Day

Starbucks Korea said Thursday it has donated 100 million won ($76,150) to the National Trust for Cultural Heritage in commemoration of the 105th anniversary of the March 1 Independence Movement Day. During the donation ceremony at Deoksugung Palace on Wednesday, the coffee chain demonstrated its d...
February 29, 2024
CHA Biotech shatters records with 954 billion won revenue

CHA Biotech announced on Thursday that it achieved a historic milestone in its annual revenue for last year, marking a record-breaking consolidated revenue of 954 billion won ($715 million), a notable 13 percent increase from the previous year. The company also saw a significant improvement in ope...
February 29, 2024
Inflation to bounce back to over 3 pct in February: finance ministry

Inflation could rise over 3 percent in South Korea in February on high prices of global oil and fresh food items, the Finance Ministry said Thursday, vowing all-out efforts to curb inflation. In January, consumer prices, a key gauge of inflation, rose 2.8 percent on-year, marking the first fall be...
February 29, 2024
UT to rebrand taxi service to Uber Taxi

UT LLC., a mobility company based in South Korea, said Thursday it will change the name of its taxi-hailing platform service to Uber Taxi from UT. UT is a joint venture created by the US ride-hailing service company Uber Technology Inc. and South Korean mobility firm Tmap Mobility Co. in 2021 as p...
February 29, 2024
Hanwha achieves profit in Q4 turnaround

Hanwha on Thursday reported its fourth-quarter net income of 10.3 billion won ($7.8 million), swinging from a loss of 437.4 billion won a year earlier. Operating income for the October-December period was 231.7 billion, compared with a loss of 841.8 billion won a year ago, the company said in a re...
February 29, 2024
LX Hausys to ramp up presence at KBIS trade show

South Korean construction and interior materials company LX Hausys on Wednesday said it is participating in this week's Kitchen and Bath Industry Show in Las Vegas, which runs through Thursday. The company said it aims to showcase its latest collection of engineered stone and artificial marble, al...
February 29, 2024
SK hynix targets 280,000won stock price in 3 years, CEO says

SK hynix CEO Kwak Noh-jung outlined the company's ambitious goal of reaching a stock price of 280,000 won (about $210) within the next three years during a recent in-house meeting. The projected value represents nearly a twofold increase from the current stock price and is seen as a strong stateme...
February 29, 2024
S-Oil stays atop Korea's most admired companies

The awards ceremony of "2024 Korea`s Most Admired Companies" on Wednesday. (S-Oil) S-Oil, one of major refineries in South Korea, has once again secured the top position in the highly esteemed "2024 Korea's Most Admired Companies" survey, marking the sixth consecutive year for its inclusion among ...
February 29, 2024
Samgyeopsal Day heats up with stricter fat guidelines

March 3, also known as "Samgyeopsal Day" in Korea, is approaching, with anticipation building for promotional events planned by local supermarkets. Most supermarkets and e-commerce platforms will offer discounts ranging from 40 to 50 percent on pork belly from Feb. 29 to March 3. But there is a c...

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