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The Korea Herald

Markets

December 12, 2023
Korea to set up commission to combat supply chain disruptions

The government said Monday it would establish a commission to coordinate and oversee the country’s policies on critical industrial supply chains by June next year. Together with the Ministry of Foreign Affairs, the Korea Customs Service and the Public Procurement Service, authorities will work to...
December 12, 2023
China’s Alipay+ posts whopping 700% growth in Korea this year

Alipay+, the cross-border payments solutions run by China's Ant Group, saw phenomenal growth in its usage in Korea this year -- almost a 700 percent jump in the monthly numbers -- with the return of foreign tourists and the expansion of its service among the local stores. Danny Chung, the general ...
December 12, 2023
Daewoong, Zydus ink $92m deal to develop generic drug in US

Daewoong Pharmaceutical announced Monday that the company has signed an exclusive licensing agreement with Zydus Worldwide DMCC to co-develop leuprolide acetate for depot suspension, DWJ108U, a generic of AbbVie’s prostate cancer, endometriosis and uterine fibroids treatment, Lupron Depot. Based ...
December 11, 2023
Banks mull W2tr in cash back for small-business owners

Local banks are considering a financial support program worth 2 trillion won ($1.52 billion) for owners of small businesses by giving back a part of their loan payments, amid prolonged inflation and high interest rates. The measure was discussed Thursday during a task force meeting of local financ...
December 11, 2023
LIG Nex1 acquires majority stake in Ghost Robotics

South Korean aerospace and defense firm LIG Nex1 has decided to acquire a 60 percent stake in American quadruped maker Ghost Robotics for some 315 billion won ($240 million) to secure a future growth platform and penetrate the US defense market. In a regulatory filing on Dec. 8, LIG Nex1 disclosed...
December 11, 2023
Creta partners with LoL producer Thomas Vu

Diverse, a Korean metaverse and game development company, said Monday that its Web3 gaming platform Creta has secured a new partnership with Thomas Vu, the renowned producer of the League of Legends game. Under the partnership, Creta agreed to support the game incubation business led by Vu, throug...
December 11, 2023
Samsung, SK chiefs to visit ASML to discuss chip alliance

Samsung Group Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won are set to travel to the Netherlands this week to strengthen business ties with ASML, the sole provider of equipment critical in producing advanced chips. The heads of South Korea's top two conglomerates are accompanying Presid...
December 11, 2023
SK Group creates carbon credit alliance

SK Group said Sunday it has formed an alliance with Korean energy firms and business groups to expand the voluntary carbon market, which allows carbon emitters to offset their emissions by purchasing carbon credits. On Friday, a total of 11 institutions and enterprises signed a multilateral memora...
December 11, 2023
K-water attends COP28 in bid to tackle climate change

The Korea Water Resources Corp., or K-water, said Saturday it attended the United Nations Climate Change Conference to represent South Korea while seeking international cooperation on tackling climate change. COP is an annual multilateral decision-making forum on climate change where almost every ...
December 11, 2023
[Herald Interview] Renault Korea prepares for major changes from 2024

Renault Korea Motors is pinning high hopes for next year to be the beginning of a complete turnaround after years of struggle, as the French automaker has big plans for 2024 and beyond, its CEO says. “Next year, we will have two big events. One related to the brand uplift and one related to the l...
December 11, 2023
Dried seaweed, ramyeon exports hit new highs

South Korea’s exports of dried seaweed and Korean instant noodles, called ramyeon, are expected to hit record highs this year, according to government data and industry sources, Sunday. According to data from the Ministry of Oceans and Fisheries, outbound shipments of dried seaweed reached $670 m...
December 10, 2023
Citibank named top international bank of 2023 in Korea

Citibank Korea has been named the Best International Bank in Korea for 2023 by Asiamoney, a monthly financial magazine published in Hong Kong, the bank announced Friday. Asiamoney explained that it selected Citibank Korea for the latest award, as it demonstrated significant improvements in perform...
December 10, 2023
LG Energy Solution to supply EV battery modules to Poland's ICPT

LG Energy Solution said Friday that it has signed an agreement with Impact Clean Power Technology, a leading Polish battery systems manufacturer, ramping up its foray into the European market for commercial electric vehicles. ICPT, established in 2005, operates the GigafactoryX near Warsaw, which ...
December 10, 2023
New Mercedes-Benz E-Class to make Korean debut in January

Mercedes-Benz’s new E-Class sedan is hitting the Korean market in January next year, the Korean unit of the German luxury carmaker said Friday. The 11th generation E-Class is a complete revamp from the 10th version launched in 2016. In Korea, the car claimed the No. 1 spot in sales for seven con...
December 10, 2023
Hanwha Aerospace lands W3.2tr tank supply deal with Australia

Hanwha Aerospace said Friday it has clinched a deal with the Australian government to supply 3.2 trillion won ($2.4 billion) worth of armored tanks. Hanwha Defense Australia, the company’s subsidiary in Australia, is poised to deliver 129 units of Hanwha’s Redback infantry fighting vehicles by 2...

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EDITOR'S PICKS

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
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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