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The Korea Herald

Markets

January 17, 2024
Hyundai Motor eyes W1tr funding for Indian plant

Hyundai Motor Group plans to invest an additional 70 billion rupees ($845 million) into an automotive plant owned by General Motors in Talegaon, India, according to Indian authorities on Tuesday. According to an online post on X, formerly Twitter, uploaded by Devendra Fadnavis, deputy chief minist...
January 17, 2024
Samsung SDI buys stake in Canadian nickel miner for battery expansion

Samsung SDI, a leading South Korean lithium-ion battery manufacturer, has acquired a stake in Toronto-based Canada Nickel in a $18.5 million deal to ensure a stable supply of critical battery materials for its expanding North American operations. Announced on the Toronto Stock Exchange on Monday, ...
January 17, 2024
[From the Scene] SK's recycling unit breathes new life into e-waste

Oh noted that TES is looking to build a new facility in Virginia, about three times the size of the Las Vegas facility, within the first quarter, to dominate the promising market. Together, the Las Vegas site will extend its services to recycling end-of-life EV batteries in western North America a...
January 17, 2024
KEB Hana Bank to tap into Hungary in Q1

KEB Hana Bank said on Tuesday it will open a new overseas branch in Hungary's capital Budapest within the first quarter of this year. One of South Korea's top four commercial lenders, Hana will be the third to make inroads into the Central European country, following Shinhan Bank and Woori Bank. T...
January 17, 2024
OCI-Hanmi merger aims for Korean version of Bayer

OCI Group, a chemical, solar power and electric car battery material maker, looks to merge with drugmaker Hanmi Pharmaceutical Group, as the two entities seek business synergies to create the Korean version of Bayer, the German chemicals-to-pharmaceuticals giant. On Friday, OCI Holdings and Hanmi ...
January 17, 2024
Hanjin Logistics hires China, US specialists for global expansion

Hanjin Logistics Corp., an affiliate of the nation’s airline-to-logistics conglomerate Hanjin Group, said Monday it has hired two global specialists as part of efforts to enhance its presence in overseas markets, especially the US and China. Rone Jeong, a China specialist, joined Hanjin in Decemb...
January 16, 2024
NPS ups stake in Samsung Electro-Mechanics, sells Kakao in Q4

The National Pension Service, the world’s third-largest pension fund managing assets of around 1,000 trillion won ($757 billion), expanded its holdings in electronic parts manufacturer Samsung Electro-Mechanics, but dumped shares of IT giant Kakao in the September-December period of 2023. The fun...
January 16, 2024
SK Ecoplant bolsters ties with Nevada on batteries, e-waste recycling

SK Ecoplant, the construction arm of South Korea’s second-largest conglomerate SK Group, said Monday it will boost business ties with the US state of Nevada on electric vehicles and electronic waste recycling. SK Ecoplant CEO Park Kyung-il met with Governor of Nevada Joe Lombardo on Sunday at the...
January 16, 2024
[CES 2024] LG Innotek’s CES booth attracts more than 60,000 visitors this year

LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Innotek has positioned itself as a...
January 16, 2024
LG Chem CEO named business council member of Davos forum

LG Chem Vice Chairman and CEO Shin Hak-cheol has been named a member of the International Business Council, part of the World Economic Forum’s annual meeting in Davos, Switzerland, the Korean chemicals firm said Monday. The WEF, also known as the Davos Forum, kicked off in Switzerland on Monday a...
January 16, 2024
[CES 2024] K-water helps startups gain global reach at CES

Korea Water Resources, the state-run water management agency also known as K-water, joined this year’s CES, the world’s largest tech show, to support Korean startups to expand their presence in global markets. During the four-day event, K-water set up a 232-square-meter pavilion at Eureka Park, ...
January 16, 2024
Harvard Business School studies CJ's K-food success

The company's global business expansion was further elucidated, involving acquisitions of local food manufacturing companies in Vietnam and collaborations with European restaurant chains to introduce K-food. Factors such as population, income level, Asian food market size, the number of Korean rest...
January 16, 2024
[From the Scene] Desert testing drives Hyundai, Kia's US success

Electric vehicles are put through over 4,000 laps on the 10.3-kilometer track, equating to roughly 48,000 kilometers, to simulate aging and ensure durability under stress. Testing the EV6 GT, Kia’s high-performance electric SUV, on this circuit proved stable performance under extreme driving cond...
January 16, 2024
How will Taiwan election affect Korean chips?

The victory of the US-friendly Democratic Progressive Party candidate Lai Ching-te in Taiwan's presidential election has raised concerns about its potential impact on the Korean semiconductor industry and the global supply chain. South Korea's two leading semiconductor makers -- Samsung Electronic...
January 15, 2024
DGB chairman offers to step down

The chief of DGB Financial Group, the holding firm of leading regional lender Daegu Bank, decided to step down from his post Friday after being acquitted of bribery and embezzlement charges tied to the group’s overseas expansion plan this week. After about five years at the helm of the company, D...

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