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The Korea Herald

Markets

July 31, 2024
Samsung SDI, LG Energy Soluton get closer to 46-series battery mass-production

Samsung SDI and LG Energy Solution are nearing mass production of the next-generation 46-series cylindrical battery, which is anticipated to be the next generation in battery technology. Samsung SDI is accelerating its timeline, aiming to start mass production of the 46-series cylindrical batterie...
July 31, 2024
Korean Intellectual Property Office chief vows bold steps to safeguard export innovations

The Korean Intellectual Property Office is accelerating global efforts to enhance intellectual property rights for Korean export companies. At the recent World Intellectual Property Organization General Assembly, KIPO engaged in bilateral meetings with representatives from 10 countries. KIPO Commi...
July 31, 2024
Global IP alliances propel Korea’s patent office to new heights

KIPO is also enhancing infrastructure for intellectual property in major cities. On July 12, it held an opening ceremony for the European IP center in Frankfurt, Germany. This event marked the launch of the revamped regional European IP-Desk, restructured this year to provide faster support to Kor...
July 31, 2024
Regulators look into shady cash flow within Qoo10

Once a prominent figure in the Korean e-commerce sector, Qoo10 Group's CEO Ku Young-bae is now facing allegations of a Ponzi scheme involving delayed payments amounting to thousands of billions of won for vendors on local online marketplaces Tmon and WeMakePrice. These accusations emerged after Ku...
July 31, 2024
Bankruptcy fears loom large over Tmon, WeMakePrice

Qoo10 CEO Ku Young-bae pledged a "complete recovery of damages" related to the payment delays affecting its struggling e-commerce affiliates, Tmon and WeMakePrice, with government support. Addressing the National Assembly’s Political Affairs Committee on Tuesday, Ku's commitment followed the comp...
July 30, 2024
[Business Diplomacy] As Trump targets EVs, Hyundai-Kia shifts gears to hybrids

Last year alone, Korean battery companies received about 1.3 trillion won ($9.4 billion) in IRA tax credits. Excluding the IRA tax credits, LG Energy Solution reported an operating loss of 252.5 billion won in its second-quarter earnings report last Thursday. SK On could have accumulated more than ...
July 30, 2024
Toss Securities to launch US subsidiary this year

Toss Securities, a brokerage arm under financial technology giant Viva Republica, announced Tuesday that it plans to establish a subsidiary in the US to explore further business opportunities in the country. The US entity, a 100 percent-owned subsidiary of Toss Securities, will be founded within t...
July 29, 2024
Cash-strapped Tmon, WeMakePrice file for court receivership

He estimated that customer losses from Tmon and WeMakePrice total around 50 billion won, primarily affecting travel-related products. To support refunds and recovery efforts, the cash-strapped company is seeking new funding through Qoo10’s overseas capital and by disposing of or using its assets ...
July 29, 2024
LIG Nex1 acquires 60% stake in Ghost Robotics

Korean defense firm LIG Nex1 said Monday that it had acquired a 60 percent stake in Ghost Robotics, a leading US quadruped robot maker, in partnership with Korea Investment Private Equity. LIG Nex1 finalized all investment steps, including approval from the Committee on Foreign Investment in the U...
July 29, 2024
HD Hyundai Marine Solution seals $60m European vessel service deal

HD Hyundai Marine Solution, the ship maintenance unit of HD Hyundai, announced Monday that it has secured a record $60 million maintenance deal with a Euro-based vessel company. The company said it recently signed a Long Term Service Agreement with a European company, without further elaborating o...
July 28, 2024
Qoo10 pressured to secure cash for troubled Korean units

While the nation’s two online shopping platforms Tmon and WeMakePrice struggle with the liquidity crisis, their Singapore-based parent company Qoo10 is said to be securing cash worth about $50 million through an overseas affiliate, according to industry sources Sunday. The new funding scheme repo...
July 28, 2024
Korea should seek out resource opportunities in Mongolia, experts say

While raw materials and rare metals are becoming increasingly significant to the South Korean economy, experts suggest Asia’s fourth-largest economy expand its cooperation on future energy and key mineral sources with Mongolia. Jung Tae-yong, a professor at Yonsei University’s Graduate School of...
July 28, 2024
Shinhan Financial Group to enhance corporate value by 2027

Shinhan Financial Group on Friday unveiled a corporate value enhancement plan detailing specific targets and strategies to boost profitability. According to the plan, the financial giant aims to achieve a 10 percent return on equity, a 50 percent shareholder return rate and reduce its shares by 50...
July 28, 2024
Kia posts record operating profit in Q2

Kia logged another record profit in the second quarter on Friday, driven by an enhanced product mix, higher average selling price and favorable exchange rates. During the April-June period, Kia achieved two new records -- 3.64 trillion won ($2.63 billion) in operating profit and a 13.2 percent ope...
July 26, 2024
Hana chief cleared of severe punishment in DLF crisis

After a four-year legal battle, Hana Financial Group Chairman Ham Young-joo has escaped regulatory punishment imposed for internal control failure involving the misselling of derivatives-linked funds. On Thursday, the Supreme Court upheld the appellate court's decision to cancel the major discipli...

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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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