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The Korea Herald

Markets

January 25, 2024
Nongshim’s Shin Ramyun hits record sales in 2023

The nation’s No. 1 ramyeon seller, Nongshim, said Wednesday that its flagship Shin Ramyun product posted record sales of 1.21 trillion won ($903 million) in 2023, a 14 percent jump from the previous year. The feat marks the second consecutive year that product sales surpassed 1 trillion won. Shi...
January 25, 2024
LG Display raises OLED sales target

LG Display said Wednesday it would focus investment on OLED displays this year, seeking to continue growth momentum after it posted the first profit in seven quarters in the September-December period last year. “The panel demand, which has been volatile over the past three years due to COVID-19, ...
January 25, 2024
HD Hyundai Oilbank seeks bigger footing in N. America's lubricants market

South Korean oil refinery and petrochemical firm HD Hyundai Oilbank said Wednesday it is making significant inroads into the North American lubricants market by supplying its XTeer products for HD Hyundai XiteSolution's industrial vehicles. The strategic push by the two subsidiaries of HD Hyundai ...
January 25, 2024
Homeplus rolls out Lunar New Year gift sets

South Korean discount store chain Homeplus on Wednesday said it will start selling 2024 Lunar New Year gift sets from Saturday through Feb. 11, as the season of gift-giving is once again upon us. During this holiday season, Homeplus offers a curated selection of some 1,060 items at discounts of up...
January 25, 2024
Hyundai’s $5.5b EV plant may receive fewer incentives in US

Hyundai Motor Group might not receive full tax credits from the US for setting up an electric vehicle manufacturing plant in the state of Georgia, although it made hefty investments in the new production base, media reports said Wednesday. According to the Korea-based news outlet, Seoul Economic D...
January 25, 2024
Celltrion, China’s WuXi bolster ties on ADC partnership

Celltrion said Wednesday that the company has signed a business agreement with China’s WuXi XDC to accelerate its development of antibody-drug conjugates. WuXi XDC, a 60:40 joint venture between WuXi Biologics and WuXi STA, is a Chinese pharmaceutical company that provides contract research and d...
January 25, 2024
[KH Explains] Financing limbo threatens W30tr Polish arms deal

South Korea's ambitious multibillion-dollar arms export deals with Poland may be at risk, as the National Assembly continues to sit dormant on a bill that must be passed in order to for the deals to come through. Having signed an initial comprehensive arms export agreement worth 17 trillion won ($...
January 25, 2024
Samsung Biologics' profit exceeds W1tr for 1st time

Samsung Biologics’ annual operating profit topped 1 trillion won ($749 million) last year for the first time, according to the company’s regulatory filing on Wednesday. Its operating profit came to 1.14 trillion won last year, up 13 percent from the previous year. Sales also surged 23 percent du...
January 25, 2024
Chambers call for more incentives, eased regulations in health care, renewables

Korea would be more attractive for global renewable energy and health care companies if they were given higher financial incentives and eased regulations, chiefs of foreign business lobby groups said Wednesday. The Korea Chamber of Commerce and Industry held the 2024 Foreign Chamber Day with repre...
January 24, 2024
Korea to expand tax benefits for advanced chips, OLED

The Korean government plans to expand tax incentives for the nation’s strategic technologies such as advanced chips and displays as part of a tax revision that takes effect next month. The Finance Ministry on Tuesday unveiled a set of tax reform plans, including tax cuts worth up to 950 billion w...
January 24, 2024
Kia plant completes upgrade for EV production

Kia’s Gwangmyeong plant will be Hyundai Motor Group’s first production base solely dedicated to EVs, applying innovative manufacturing technologies developed by the Hyundai Motor Group Innovation Center in Singapore, according to Kia CEO Song Ho-sung during a press conference on Jan. 3. The new ...
January 24, 2024
[Herald Interview] Thoughtful approach keeps winning Korean investments in Indiana

"Breaking bread for some good talks has been super important in building solid relationships with Korean businesses, creating a trust that keeps them coming back to invest more," said Jillian Turner, the senior vice president of global partnerships and investments at the Indiana Economic Developmen...
January 24, 2024
Samsung exec touts Galaxy S24 as true phone camera revolution

SAN JOSE, California -- The Galaxy S24 series is the "ultimate collection" of Samsung Electronics' artificial intelligence technology for cameras, allowing users to become "expert photographers" with just a few intuitive taps on the screen, according to the tech giant's visual solutions chief. Sam...
January 24, 2024
SK becomes No. 2 in market cap

SK Group has reclaimed its title as the nation’s second-largest conglomerate in terms of market capitalization, largely buoyed by its chipmaking unit SK hynix’s strong performance in recent months. According to market tracker Korea CXO Institute on Tuesday, SK Group’s market cap surged to 171.8...
January 24, 2024
Korean banks ready to step up their game in India

Local lenders are expanding their presence in India, the world’s fifth-largest economy, as Korea-India economic ties deepen amid the global supply chain reshuffle. KB Kookmin Bank, one of the top five lenders in Korea, will launch two new branches in India this year in Chennai and Pune. The lende...

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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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