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The Korea Herald

Economy

June 11, 2024
Ongoing scrutiny plagues Act-Geo's credentials

The proposed deepwater oil and gas field development off the coast of Yeongil Bay in Pohang, South Korea, is under intense scrutiny, with debates surrounding the reliability of the discovery and the credibility of Act-Geo, the US consulting firm behind the survey. The Ministry of Trade, Industry a...
June 10, 2024
400,000 minors own Samsung Electronics shares worth W1.54tr

The number of underage stakeholders in Samsung Electronics, the country's largest company by market capitalization, has surged nearly 21 times in four years, reaching almost 400,000. According to the Korea Securities Depository's securities data portal, as of the end of last year, there were 391,8...
June 10, 2024
KCCI opens office in Germany for AI, energy collaboration

The Korea Chamber of Commerce and Industry, South Korea’s major business group, said Monday it launched an office in Frankfurt to build a broader network in Germany where the largest number of Korean companies are doing business in Europe. Germany, home to smart factories embedding artificial int...
June 10, 2024
US poised to replace China as Korea’s top export destination

South Korea's exports to the United States are likely to exceed those to China this year for the first time in 22 years, according to a joint report released Monday by Statistics Korea, the Trade Ministry, and the Ministry of SMEs and Startup. From January to May, exports to the US amounted to $53...
June 09, 2024
Doubts persist over oil project despite expert briefing

Doubts persist over the potential of newly identified oil and gas reserves off South Korea’s southeastern coast, despite a press briefing on Friday led by the expert behind the discovery to address public concerns about the drilling project's feasibility and the credentials of the company involved...
June 09, 2024
Instagram widens gap with Naver among Korea’s most-used apps

Instagram has significantly widened its lead over domestic top search engine Naver regarding usage hours among Korean smartphone users, data showed Sunday. According to data compiled by industry tracker Wiseapp, Korean users spent 389 million hours on Instagram, making it the third-most used app i...
June 09, 2024
Oil, gas reserves in East Sea 'highly prospective' says Act-Geo owner

The existence of oil and gas reserve in the East Sea is "highly prospective" as seismic data show the examined wells contain all four key elements of a petroleum system, Vitor Abreu, the owner and adviser of the US geoscience research firm Act-Geo said Friday. Act-Geo is the company that suggested...
June 07, 2024
K-water to cooperate with African nations on water infrastructure

Korea Water Resources Corp. said Thursday that the state-run agency and African leaders held talks to increase their cooperation on water management technology. Several leaders of African countries, who were visiting South Korea for the inaugural Korea-Africa Summit in Seoul, gathered at K-water’...
June 07, 2024
Korean cosmetics stocks soar on FDA-approved sunscreen

Shares of Korean cosmetics firms that produce sunscreen products and materials approved by the United States health regulator soared in May, coupled with returning investor sentiment in the K-beauty industry, according to industry sources, Thursday. "Recently, there were dramatic increases in the ...
June 07, 2024
Dried seaweed prices rise sharply in May

The price of dried seaweed in South Korea increased by 17.8 percent in May compared to the same period last year amid surging demand from overseas markets, according to Korea Statistics on Thursday. This rise surpasses both the average increase in seafood prices, which was 0.1 percent, and the ove...
June 05, 2024
Korea, Africa set the stage for shared growth, sustainability

Business leaders and government officials from South Korea and African nations gathered to fortify practical cooperation involving complementary skills and resources to enrich the decades-long friendship between countries. Some 400 people took part in the 2024 Korea-Africa Business Summit held in ...
June 05, 2024
Act-Geo founder arrives in Seoul to explain oil find

Following the recent announcement that South Korea may have discovered up to 14 billion barrels of oil and gas reserves off its southeastern coast, Vitor Abreu, the owner of Act-Geo, the firm responsible for the discovery, arrived in Seoul on Wednesday to elaborate on these findings. Abreu landed ...
June 05, 2024
[Hello India] Krafton eyes bigger footing in India

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
June 04, 2024
Energy shares rally on potential East Sea jackpot

Stock prices of oil- and gas-related companies extended their gaining streak Tuesday, backed by major oil and gas prospects off the East Coast following President Yoon Suk Yeol’s announcement from the previous day. With the government approving exploratory drilling for a potential 14 billion barr...
June 04, 2024
[KH Explains] Has South Korea really struck oil?

What exactly is a geophysical survey? A geophysical survey is a crucial preliminary step in exploring natural resources. It employs methods like seismic, gravity, magnetic and electromagnetic exploration to indirectly assess the subsurface's structure and composition, akin to taking an X-ray of th...

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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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