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The Korea Herald

Markets

December 26, 2023
LG Nova to offer glimpse into future startup tech at CES 2024

LG Nova, LG Electronics’ North American Innovation Center, will offer a glimpse into the technologies that will lead growth in the future at CES 2024, slated to be held in January in Las Vegas, the company said on Monday. At the annual consumer electronics show, LG’s US entity will open its show...
December 26, 2023
BNP Paribas, HSBC face record fines for naked short selling

South Korea's financial regulator on Monday said it had imposed its largest ever fine on two Hong Kong-based investment banks for illegally practicing short selling on the domestic stock market. The Financial Services Commission said its Securities and Futures Commission decided during a meeting o...
December 26, 2023
Hyundai Mobis to develop digital twin system

Hyundai Mobis will work with US software company Wind River to develop a digital twin system called M.Dev Studio to optimize the future working conditions of crafting auto parts, the South Korean auto parts maker said Monday. M.Dev Studio is expected to offer a virtual space for not only Hyundai M...
December 26, 2023
Foreign workers in S. Korea reach all-time high of 1 million

The number of foreign nationals working in South Korea reached an all-time high of nearly 1 million in 2023, though most of them were working at smaller companies, according to government data, Monday. According to the data compiled by Statistics Korea, the number of people with foreign nationalit...
December 25, 2023
Farewell to credit cards: Cash-only trend surges as young Koreans tackle overspending

Some with artistic talent have also tried their hands at designing their personally customized envelopes and "accidentally" generated an alternative source of income in the process. “I first started off wanting to have unique envelopes that are hard to find at shops. But after sharing the photos ...
December 25, 2023
National Assembly approves historic 15% cut to R&D budget

The South Korean National Assembly concluded a contentious decision to reduce the national research and development budget to 26.5 trillion won ($20.4 billion) on Thursday, a 15 percent reduction from this year and marking the first R&D budget cut in 33 years. The reduction of 4.6 trillion won is ...
December 25, 2023
Food security symposium addresses urgency amid climate crisis

A comprehensive dialogue, spearheaded by Im Jung-bin, professor at Seoul National University, was to include contributions from key figures such as Han Doo-bong, head of the Korea Rural Economic Institute, Han Seok-jin, assistant representative of the UN World Food Program, Lee Na-ra, assistant rep...
December 25, 2023
LG Electronics opens experience zone targeting 'Doi Moi' generation in Vietnam

There is also a space where visitors can play shooting games with LG’s UltraGear gaming monitors and an exhibition zone that showcases the technology of the home appliance giant's key home appliances components, including compressors and motors used in its washing machines, refrigerators and air c...
December 25, 2023
Hanlim aims to open 100 E-mart 24 stores in Cambodia by 2028

Comprehensive real estate services company Hanlim Architecture Group said Friday that it has finalized an agreement to help Korean convenience store operator E-mart 24 enter Cambodia. The collaboration is being facilitated through a joint venture known as Saihan Partners. Saihan Partners was estab...
December 25, 2023
Hyundai’s 42dot to debut software-centric car tech at CES 2024

Hyundai Motor Group's self-driving mobility division, 42dot, revealed Friday that it will make its debut at the upcoming CES 2024 tech show in Las Vegas to showcase its software-driven vehicle technology. The technology integrates both software and hardware in automobiles, reflecting the digital ad...
December 25, 2023
Bank Shinhan Indonesia secures $200m funding from IFC

South Korea's Shinhan Bank said Friday its Indonesian unit, Bank Shinhan Indonesia, has won a $200 million investment from the International Finance Corp. The funding is a result of a memorandum of understanding signed between Shinhan Financial Group and the IFC in May, aiming to expand cooperatio...
December 22, 2023
Banks draw up largest-ever support plan for small businesses

Local banks rolled out 2 trillion won ($1.53 billion) in cash funding to relieve individuals and small businesses having trouble paying back loans or debts amid the prolonged economic downturn. The measure comes in a month since the commercial banking sector and the financial authorities put their...
December 22, 2023
[KH Explains] What's at stake in Korea's digital currency push

The Bank of Korea is proactively pushing for the introduction of a central bank digital currency to maintain its grip on the sovereign currency amid the continued digital transformation of the finance sector. The BOK has developed a two-track system for Korea's CBDC: a retail CBDC for individuals ...
December 22, 2023
Capital gains tax rules eased for stock investors

The South Korean government will raise the threshold for major shareholders' capital gains tax to those holding 5 billion won ($3.83 million) worth of stocks from the current 1 billion won, the Finance Ministry announced Thursday. The Ministry of Finance will revise the capital gains tax regulatio...
December 22, 2023
National Assembly passes W656tr budget for 2024

The National Assembly on Thursday passed the government budget for 2024 amounting to 656.6 trillion won ($502 billion). The final package showed a 2.8 percent gain from that of last year’s, marking the smallest on-year increase for the government budget. It was down 300 billion won from the gover...

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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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