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The Korea Herald

Markets

November 10, 2023
Woori Bank's new app to offer multilingual assistance

South Korean commercial bank Woori Bank said Thursday that it has launched an updated mobile banking service for foreigners residing in Korea, “Woori WON Global,” that is available in up to 17 languages. While foreigners in Korea find it difficult to use mobile banking services, Woori Bank offer...
November 10, 2023
CATL reduces gap with LG Energy Solution

South Korean battery makers are feeling the heat from the surge of Chinese competition, as Chinese battery giant CATL continues to expand its global presence outside its home turf. According to Korean market tracker SNE Research on Thursday, CATL’s worldwide battery usage outside China reached 64...
November 10, 2023
Kakao CEO apologizes for SM stock manipulation allegations

Kakao CEO Hong Eun-taek apologized Thursday over a recent controversy surrounding alleged stock manipulation in connection with the tech giant’s acquisition of K-pop agency SM Entertainment. “We apologize for causing concern to Kakao shareholders with the negative news that occurred during the p...
November 10, 2023
Global minimum corporate tax to take effect in Korea next year

Starting from 2024, multinational companies such as Samsung Electronics and SK hynix, which have overseas factories or subsidiaries, are expected to face increased tax obligations. The Ministry of Economy and Finance announced Thursday that a new law to implement the global minimum corporate tax -...
November 10, 2023
SPC Samlip partners with Asian supermarket chain H Mart

South Korean confectionery company SPC Samlip said Thursday that it had signed a partnership with H Mart, the largest Asian supermarket chain in North America, as part of efforts to further increase its global presence. H Mart operates some 120 supermarkets in the US, Canada and the UK. In 2022, i...
November 10, 2023
[KH explains] End of Chinese tourist boom?

South Korea's tourism and retail industries have long been dependent on China's big spenders traveling to the country in tour groups. So when the Chinese government lifted a travel ban on group tours for its nationals in August, expectations were high about a possible surge in Chinese travelers, t...
November 10, 2023
[From the Scene] HD Hyundai Electric eyes W5tr sales target by 2030

ULSAN -- Right below the world’s biggest shipbuilder HD Hyundai Heavy Industries' shipyard in the southeastern industrial city of Ulsan, HD Hyundai Electric is gaining momentum in the energy sector with its advanced transformer manufacturing facility. The electrical equipment maker showcased its ...
November 09, 2023
US Treasury removes Korea from currency manipulation watchlist

South Korea has been removed from the US Treasury Department’s list of trading partners that it closely monitors for unfair foreign exchange practices, according to the department’s announcement Tuesday. It is the first time since 2016 for Korea to be pulled from the list. In its biannual report...
November 09, 2023
Kakao Bank logs record-high net profit

Kakao Bank, an internet-only bank, announced Wednesday that it achieved a record-high net profit of 279.3 billion won ($214.12 million) during the first three quarters of the year, thanks to increased lending to borrowers attracted by its low interest rates. This represents a 37.9 percent increase...
November 09, 2023
Samsung Electronics unveils own generative AI, Samsung Gauss

Samsung Electronics on Wednesday debuted its own generative artificial intelligence model, dubbed Samsung Gauss, renewing competition with its archrival Apple and other tech giants in the burgeoning AI market. The world’s largest smartphone maker by shipments also hinted that the new AI chatbot w...
November 09, 2023
Korea-Indonesia biz forum to kick off on Nov. 30

The Korea-Indonesia Cooperation Forum, under the theme "K-Wave & I-Wave, Together for the Future," will take place on Nov. 30 in Jakarta to commemorate the 50th anniversary of bilateral diplomatic ties. Organized by Herald Corp., the publisher of The Korea Herald and Herald Business, jointly with ...
November 09, 2023
Coupang logs record Q3 earnings, stays in black for 5th straight quarter

South Korean e-commerce giant Coupang announced record third quarter earnings amid an increase in its customer numbers and the strong performance of its core businesses. Coupang has continued its winning streak for five consecutive quarters since reporting profits for the first time in 2022. Acco...
November 09, 2023
Hyundai Mobis raises $940m in green loan for EV parts plants in US

Hyundai Mobis, a South Korean auto parts manufacturer, said Wednesday it has secured a $940 million green loan for the construction of electrification parts plants in North America, marking the company's first overseas foray into sustainable mobility financing. It finalized the funding from seven ...
November 09, 2023
Doosan Bobcat to build $300m loader plant in Mexico

Korean construction equipment maker Doosan Bobcat said Wednesday it will build a production base worth $300 million in Monterrey, Mexico, situated close to the US-Mexico border, to boost supply chain efficiency and cater to the increased post-pandemic demand within North America. With operations e...
November 09, 2023
[From the scene] Naver opens massive data center to boost AI, cloud push

SEJONG -- South Korean internet giant Naver opened its second data center in the city of Sejong on Monday, speeding up its big push to secure supremacy in the burgeoning artificial intelligence and cloud markets. Naver invited a group of reporters to its new data center, which it calls Gak Sejong,...

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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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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099