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The Korea Herald

Market Now

September 27, 2022
Korea nears fresh currency crisis but officials downplay concerns

Fears are growing that the South Korean won could continue to lose its value against the US dollar close to the level it suffered during the 2008 global financial crisis, but authorities have dismissed speculation over a repeat of such nightmare, saying the currency reserves are strong enough to fi...
September 27, 2022
Hanwha signs conditional takeover deal with DSME for W2tr

South Korea's defense-to-energy conglomerate Hanwha Group said Monday it has signed a conditional memorandum of understanding with Daewoo Shipbuilding & Marine Engineering to acquire a controlling stake of 49.3 percent and managerial control of the shipbuilder, which has been under the state superv...
September 27, 2022
Startups after pandemic: Winners and losers

Over the last few years, pandemic-triggered market volatility has provided great business opportunities for South Korean startups. But in the face of a deteriorating market outlook driven by Russia's invasion of Ukraine and inflation, only a handful of startups with strong business portfolios could...
September 27, 2022
Seoul braces for energy crisis this winter

The South Korean government is getting the country’s 30 biggest energy consumers to join efforts to tackle the looming energy crisis this winter amid unstable global energy supply, exacerbated by the war in Ukraine and Korea’s growing trade deficit. About 55 percent of Korea’s energy consumptio...
September 27, 2022
SK Innovation to initiate forestation upon anniversary

Leading refiner SK Innovation said on Monday it held a tree planting ceremony for SK Ulsan Forest of Happiness, in celebration of the company’s 60th year anniversary on Monday. The ceremony, held in light of the company’s initiative to achieve net-zero emissions, was held in the forest fire-dama...
September 27, 2022
[Herald Interview] Kyoto-inspired Kinobi gin aims to elevate at-home bar experience

Pernod Ricard's Kyoto dry gin Kinobi made its South Korean debut earlier this month, targeting a growing number of drinkers here who may drink less but are willing to spend more to elevate at-home bar experience after pandemic years. “COVID-19 has reduced opportunities for people to mingle and so...
September 26, 2022
KT teams up with Canada’s Vector Institute in AI push

KT is looking to improve its artificial intelligence competitiveness through a partnership with Canada's Vector Institute, a nonprofit firm dedicated to AI research. According to KT, the two sides signed an agreement on research, development and business cooperation at the Vector Institute in Toro...
September 26, 2022
Decoding Lee Jae-yong's fandom

Regardless of whether the making of Lee's public image was part of an intentional strategy, the company already appears to be taking advantage of his growing fandom as he seeks to return to the boardroom, two years after his father's death. Lee's public appearance in major Samsung locations at hom...
September 26, 2022
SK to build AI computing infrastructure with University of Toronto

South Korean mobile telecom carrier SK Telecom announced Sunday that the company, its artificial intelligence chip developer arm Sapeon and the University of Toronto came together on Thursday to build an AI chip-mounted computing infrastructure at the Canadian university’s campus in Toronto. Sape...
September 26, 2022
Car defect cases double in three years

Cases of reported car defects have more than doubled in three years, a lawmaker said Sunday. A total of 18,452 car defect reports had been filed to the Transport Ministry’s vehicle recall center from 2019 to 2021, according to Korea Transportation Safety Authority data that Democratic Party lawma...
September 26, 2022
Posco International to triple natural gas production in Australia

Posco International, a trading firm under Posco Group, said Sunday that it was investing around 140 billion won ($98.38 million) to triple the natural gas production of its subsidiary Senex Energy Limited in Australia by 2025. According to the company, the investment is aimed at contributing to st...
September 26, 2022
SKT launches country’s 1st AI diagnosis for dogs

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
September 26, 2022
LG CNS becomes first S. Korean DX partner for Google Cloud

Information technology service provider LG CNS said Sunday it has become the first South Korean company to sign a digital transformation (DX) partnership with Google’s cloud service, Google Cloud. Through the strategic partnership, LG CNS said it hopes to acquire a competitive edge in the domesti...
September 26, 2022
Citibank Korea launches 'e-Commerce Industry Seminar' for corporate clients

Citigroup’s Korean unit Citibank Korea explained the bank's foreign exchange solutions and its outlook on the e-commerce market during an e-commerce industry seminar Thursday. During the seminar, model cases of FX solutions and digital payments that used Citibank's global network, were introduced...
September 26, 2022
[Behind the Wheel] Ioniq 6 could be a game changer in Hyundai’s EV portfolio

According to Hyundai Motor, it received some 47,000 Ioniq 6 orders for a three-week preorder period. On the first day of presales, a total of 37,446 preorders for its Ioniq 6, the highest day one preorder sales figure in the company’s history. The first delivery began from last week, taking less ...

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