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The Korea Herald

Market Now

December 01, 2022
Land Ministry, Truckers fail to compromise again

Meanwhile, a trade business community Korea International Trade Association Executive Vice Chairman Jeong Marn-ki urged unionized truckers on Wednesday to stop their ongoing strike, emphasizing the harm to the economy. “The government and the National Assembly should not compromise with the call ...
December 01, 2022
Chinese imported beers make strong comeback

Among imported beers, Chinese brands were imported the most to South Korea according to data on Tuesday -- successfully reclaiming the top position after weathering dwindling profitability for years due to a nationwide reluctance to use Chinese products during the pandemic. According to data from ...
December 01, 2022
Samsung foldable phone sales double

Samsung Electronics said Wednesday sales of its foldable phones for corporate use more than doubled on-year, partly because more companies have adopted remote working policies in the wake of the COVID-19 pandemic. From January to October, sales of Galaxy Z Fold and Galaxy Z Flip phones jumped by 1...
December 01, 2022
Oriental Brewery's Cass tops beer market in October

Oriental Brewery's flagship beer brand Cass secured the top market share in the domestic beer market in October and seeks to continue its momentum via various promotions related to the World Cup, said the country's largest beer maker Wednesday. According to market research firm Nielsen Korea, Cass...
December 01, 2022
Hyundai Glovis taps new CEO to lead smart logistics business

Hyundai Glovis, a logistics affiliate under South Korean automobile giant Hyundai Motor Group, has tapped Lee Kyoo-bok, an executive with the carmaker, as the company’s next CEO, officials announced Wednesday. Lee, who was also promoted to the group’s executive vice president with the CEO appoin...
December 01, 2022
Foreign investors snap up tech shares

Foreign investors purchased a net of more than 6 trillion won ($4.5 billion) worth of shares on South Korea's stock market in October and November as they picked up chips and other related tech shares, the Korea Exchange's data showed Wednesday. According to the securities exchange operator, forei...
December 01, 2022
Samsung to expand 5G network solution supply to Japan's NTT Docomo

Samsung Electronics said Wednesday it will boost the supply of 5G network solutions to Japan’s No. 1 mobile operator NTT Docomo. After being chosen as a 5G network solution provider for Docomo in March, Samsung will provide additional 5G network radio units, which can send out major frequency ban...
December 01, 2022
Hyundai Motor's creative chief promoted to president

Luc Donckerwolke, Hyundai Motor Group’s executive vice president and chief creative officer, has been promoted to the group’s president, the South Korean auto giant announced Wednesday. Donckerwolke, a Belgian native, has led the growth of the carmaker’s brand identity in the global market sinc...
December 01, 2022
Korean Air offers lie-flat seats for smaller A321neo planes

Korean Air, South Korea’s largest air carrier, will begin offering lie-flat seats in smaller aircraft -- its recently received Airbus 321neo -- in December, the company said Wednesday. With the introduction of the A321neo, Korean Air will become the country’s first air carrier to have lie-flat s...
November 29, 2022
EV industry advised to adopt battery swapping for better efficiency

The Korea International Trade Association suggested introducing battery swapping as a solution that could boost South Korea’s electric vehicle transition, the association said in a report released Monday. Battery swapping is touted as an emerging solution for EVs, particularly in China. The techn...
November 29, 2022
S. Korea signals delays to crypto income tax

Financial authorities on Monday maintained their position on imposing an income tax on cryptocurrency trading from 2025, delaying the initial plan of levying a 20 percent tax starting next year. According to the Ministry of Economy and Finance, it submitted a bill to lawmakers to push back the new...
November 29, 2022
South Korea’s chip exports dwindle as export to China increases

South Korea is heavily reliant on China for its semiconductor exports, and it should diversify its overseas markets to mitigate associated risks of decline in trade with the neighboring country, a report said on Monday. According to statistics released from the Korea International Trade Associatio...
November 29, 2022
Korean users spend less time on Twitter taken over by Musk

South Korean users spent less time on Twitter compared to the month before billionaire Elon Musk took over the social media platform in a drama-plagued $44 billion deal, industry data showed Monday. According to local data tracker Mobile Index, the average time a local user spent on Twitter was 43...
November 28, 2022
Possible Wemix delisting prompts jitters in crypto market

South Korea’s top five crypto exchanges' decision to delist the token issued by Wemade’s blockchain platform has sent another shock wave through the digital currency market here that is still reeling from the earlier terraUSD-luna crash. The Digital Asset Exchange Alliance (DAXA) comprising Bith...
November 28, 2022
Posco wins Asia's first ResponsibleSteel accreditation

South Korean steel giant Posco said Sunday its production plants in Pohang and Gwangyang have received the ResponsibleSteel accreditation, becoming the first Asian company to win the honor. ResponsibleSteel, a nonprofit organization set up in 2016, awards steel businesses with accreditation for fu...

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