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The Korea Herald

Markets

November 07, 2023
SK Ecoplant to supply advanced fuel cells to Irish data center

South Korean energy and environmental solutions provider SK Ecoplant said Monday that it signed a partnership with Lumcloon Energy, an Irish power generation firm, to supply solid oxide fuel cells for a new data center in Castlestown, Ireland, marking a step toward greener energy utilization in Eur...
November 07, 2023
SK On to supply EV batteries to Polestar from 2025

South Korean battery maker SK On said Monday it has clinched a deal with Swedish carmaker Polestar to supply its premium electric vehicle batteries. Under the agreement, the battery manufacturer will supply nickel, manganese and cobalt (NCM) batteries for the Polestar 5, the full-electric version ...
November 06, 2023
Hana Bank to offer W100b in support for small business owners

Hana Bank is set to roll out a comprehensive financial support scheme worth 100 billion won ($75.6 million) to support small and medium-sized businesses, amid a prolonged economic slowdown and high interest rates. The program aims to offer cashback on interest payments, subsidies on utility and te...
November 06, 2023
[Hello Indonesia] Korea, Indonesia to bolster ties on future growth drivers

South Korea and Indonesia, marking the 50th anniversary of diplomatic ties this year, are seeking to further extend their economic cooperation in key areas from electric mobility and infrastructure to finance, as both countries are eager to nurture future growth drivers. Over the past five decades...
November 06, 2023
World Cup in Saudi Arabia sparks human rights protest

The appointment of Saudi Arabia as the host for the 2034 FIFA World Cup has elicited a backlash from multiple human rights groups over the nation's contentious rights record, coming just weeks before the final decision on its bid for the World Expo 2030. FIFA President Gianni Infantino confirmed t...
November 06, 2023
[From the Scene] Samsung bets big on package substrates for future chips

SEJONG -- With the increasing demand for next-generation semiconductors globally, Samsung Electro-Mechanics, an electronic parts manufacturing affiliate of Samsung Electronics, has been seeking to take the lead in the chip package substrate market. On Thursday, Samsung invited a group of reporters...
November 06, 2023
Hyundai, Kia report robust EV US sales, shrug off impact of IRA

Industry watchers say Hyundai and Kia are expected to see more than 200,000 EV sales in the US next year when their production capacity is expanded in response to the IRA rules. Hyundai’s first EV manufacturing plant in the US with an annual production capacity of 300,000 units is expected to bec...
November 06, 2023
[KH explains] Korean Air-Asiana merger may gain traction, yet challenges linger

Korean Air's acquisition of Asiana Airlines got a step closer to getting antitrust approval from the European Commission, as the nation’s largest air carrier submitted a revised merger plan that includes a selloff of Asiana’s cargo operation and giving up more routes to European cities. Industry...
November 05, 2023
Naver CEO satisfied with 'better-than-expected' AI business outcomes

Naver CEO Choi Soo-yeon on Friday expressed her satisfaction over the company’s business results regarding its upgraded, hyperscale generative artificial intelligence model, HyperClova X, unveiled in August. “Based on what we’ve observed and experienced so far, we seem to be having better resul...
November 05, 2023
LG CNS, NYC, AmCham Korea forge partnerships on digital transformation

Korean IT solutions provider LG CNS forged a trilateral partnership with New York City and the American Chamber of Commerce in Korea, agreeing to work together on the digital transformation of New York, the company said on Friday. The three signed a memorandum of understanding for digital transfor...
November 05, 2023
Foreign exchange reserves fall for third consecutive month

South Korea's foreign exchange reserves fell for the third consecutive month in October, according to data released by the Bank of Korea on Friday. At the end of October, foreign exchange reserves stood at $412.87 billion, down $1.24 billion from the previous month's $414.12 billion. South Korea'...
November 05, 2023
Volvo expands presence in Korean market

Volvo is putting the pedal to the metal as it inches closer and closer to overtaking Audi’s third place in South Korea’s auto import market that has long been led by the three German brands: Mercedes-Benz, BMW and Audi. According to the Korea Automobile Importers and Distributors Association’s ...
November 05, 2023
Samsung files complaint in US against BOE for allegedly leaking trade secrets

Samsung Display has filed a complaint against BOE Technology and seven of its affiliates to the United States’ International Trade Commission, claiming the Chinese display makers violated trade secret regulations, an ITC document revealed on Friday. According to the document from the ITC, Samsung...
November 05, 2023
Woori Bank establishes Bangladesh regional headquarters

Woori Bank, one of South Korea’s top four commercial banks, announced Friday that it has opened a new regional headquarters in Bangladesh that will be in charge of managing six other branches in the country. The Korean bank said it has turned the Dhaka branch into the country's main headquarters ...
November 03, 2023
BOK breathes sigh of relief after Fed pauses rate hikes

The US Federal Reserve’s second consecutive decision to maintain its key rate has lifted some of the weight off the Bank of Korea, which has been in a standstill amid rising economic uncertainties. The Federal Open Market Committee on Wednesday decided to hold the rate steady between 5.25 percent...

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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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