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The Korea Herald

Markets

January 21, 2024
Posco International to supply EV parts to Hyundai Mobis

Posco International said Thursday that it will supply 1.03 million motor cores for Hyundai Motor Group electric vehicles produced in Europe. The parts are to be supplied to Hyundai Mobis’ EV factory in Slovakia from 2025 to 2034. Of the total, 550,000 units are to be sent to Hyundai Motor’s Turk...
January 21, 2024
Toss Bank launches fee-free currency conversion service

Korean internet-only bank, Toss Bank, on Thursday rolled out its first foreign exchange service, pledging not to charge users any fees for converting foreign currencies. Under the new scheme, all users who open a foreign currency account on its banking app can exchange 17 foreign currencies in rea...
January 21, 2024
Hyundai, Kia post record sales in Europe

Hyundai Motor Company and Kia have set a new record, selling over 1.1 million vehicles in Europe in 2023, the South Korean automakers said Thursday. According to the announcement, Hyundai Motor sold 534,170 units and Kia sold 572,297 units, up 3.1 percent and 5.4 percent on-year, respectively. Tog...
January 18, 2024
[KH Explains] Why spot bitcoin ETFs remain off limits for Korean investors

Local authorities' decision to keep the doors shut for exchange-traded funds linked to the price of bitcoin has led to concerns that Korea may be left behind by changing global financial trends. While the US Securities and Exchange Commission’s authorization of spot bitcoin ETFs represented a mil...
January 18, 2024
KB Kookmin Bank vows W372b support for SMEs

KB Kookmin Bank said Wednesday it will provide 372.1 billion won ($276.4 million) in financial support measures for the self-employed, small business owners and vulnerable groups facing difficulties due to high borrowing costs and prices. The sum represents the largest among such other plans put f...
January 18, 2024
Samsung unveils AI-powered Galaxy, sets out to create new standards

The new phone also comes with Provisual Engine for enhanced photo editing, which Samsung calls an attractive feature, especially for younger users who enjoy diverse social media services. Its Generative Edit allows users to change or fill in the background of an image or the object itself and creat...
January 18, 2024
Hanwha heir maps out net-zero vision at Davos

Hanhwa Group Vice Chairman Kim Dong-kwan unveiled a new vision for the decarbonization of shipbuilding and outlined Hanwha’s plans to build a zero-emissions gas carrier, during the 2024 World Economic Forum held in Switzerland on Wednesday. The new vessel will be the industry’s first to be power...
January 18, 2024
Hyundai ditches China plant to focus on India, Indonesia

Hyundai Motor Group said Wednesday it has sold its Chongqing plant in China to the region’s industrial park developer Yufu Industrial Complex Construction Co. for approximately 1.62 billion yuan ($290 million), as part of a global operational restructuring aimed at shifting focus from volatile mar...
January 18, 2024
HD Hyundai CEO talks global decarbonization efforts at Davos

Chung Ki-sun, vice chairman and CEO of the Korean shipbuilding and energy conglomerate HD Hyundai, attended the 2024 World Economic Forum in Davos, Switzerland, on Monday, where he discussed global collaborations in decarbonizing the transportation and logistics industries, according to the company...
January 18, 2024
Hyundai Motor speeds up strategic shift to software-defined mobility

Hyundai Motor Group said Wednesday it has set up a new research and development division in its push for software-defined vehicles by combining several teams across the auto giant's affiliates. The Advanced Vehicle Platform Division integrates three software development units -- its in-house SDV d...
January 18, 2024
Japan reclaims top spot in Korea's import beer market

Japan reclaimed the top spot in South Korea’s beer imports in 2023, five years following the start of the Tokyo-Seoul trade dispute, data showed Wednesday. According to data from the Korea Customs Service, imports of Japanese beer products reached $55.51 million last year, a 283.3 percent increas...
January 18, 2024
Korea’s arms exports to Poland hit W1.5t in 2023

South Korea sent arms exports worth more than 1.5 trillion won to Poland last year, according to data compiled by a trade association, Wednesday. Backed by the increase in arms exports, Poland has also become the source of South Korea’s fifth-biggest trade surplus after the United States, Vietnam...
January 18, 2024
Woori, BC improve profits in overseas card business

As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its for...
January 17, 2024
Korea vows 'utmost efforts' to tame prices before Lunar New Year

The Korean government announced new measures to curb inflation ahead of the Lunar New Year holiday, including cutting price growth for fresh fruits and vegetables and postponing price hikes for electricity. With this year's four-day Lunar New Year holiday starting on Feb. 9, Finance Minister Choi ...
January 17, 2024
Pernod Ricard Korea promotes sustainability in bar industry

Pernod Ricard Korea, the local subsidiary of global wine and spirits company Pernod Ricard Group, said Tuesday that it held a special lecture on Monday to promote a sustainable culture in the bar industry. As part of the company's professional training program called "Bar World of Tomorrow," Perno...

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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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