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The Korea Herald

Market Now

May 25, 2022
Energy ministry to place power price cap to stem KEPCO hemorrhage

SEJONG -- The government has mapped out a measure to address the mounting deficit of the state-run Korea Electric Power Corp., which posted an all-time high operating loss of 7.7 trillion won ($6.1 billion) in the first quarter of the year. The Ministry of Trade, Industry and Energy said Tuesday t...
May 25, 2022
Hyundai E&C, Westinghouse to build nuclear power plants

Hyundai Engineering & Construction has signed a strategic cooperation agreement with the nuclear power industry leader Westinghouse Electric Co. to jointly build next-generation nuclear power plants. This is the first time that a Korean firm has formed a partnership with the US nuclear power compa...
May 25, 2022
KB, Jefferies chiefs talk cooperation in global investment banking

Chiefs of South Korea’s KB Financial Group and the US’ Jefferies Financial Group discussed strengthening and expanding its existing partnership in the global investment banking market, the Korean banking giant said Tuesday. In a meeting with Jefferies Financial Group President Brian Friedman, KB...
May 25, 2022
[Exclusive] Hybe to make up 10% of KPOP ETF

Shares of Hybe, the company behind K-pop sensation BTS, will account for some 10 percent of the much-anticipated KPOP ETF, an exchange-traded fund designed by Seoul-based intellectual property-focused company builder Contents Technologies, an industry source said Tuesday. “Hybe with its market ca...
May 25, 2022
Hyundai Motor Group to spend W63tr by 2025 in Korea

Hyundai Motor Group unveiled Tuesday another set of mega investment plans, this time focusing on the local market. Introducing a 63 trillion won ($52.6 billion) plan, the automaker said it would work with its subsidiaries Kia and Hyundai Mobis to turn Korea into a hub of its future mobility busines...
May 25, 2022
Hanwha Group to spend W37.6tr to nurture energy, aerospace sectors

Energy-to-defense giant Hanwha Group unveiled Tuesday an investment plan of 37.6 trillion won ($29.7 billion) into the energy, carbon neutrality, defense and aerospace sectors over the next five years. Under such investment plan, the group expects to create some 20,000 new jobs. The group said so...
May 25, 2022
Lotte Group to inject W38tr for health, mobility and more shopping malls

South Korean retail giant Lotte Group said Tuesday it is poised to inject 38 trillion won ($30 billion) over the next five years in the new growth-engine sectors -- health and wellness, mobility, and sustainability -- and core industry segments including chemical, retail and travel business. Follo...
May 25, 2022
Hyundai Motor Group, Microsoft partners to measure EV battery life

Hyundai Motor Group and Microsoft Korea have collaborated to make a “digital twin” of the Ioniq 5 to accurately analyze performance of the battery that is critical for electric vehicles. According to the automaker, the digital twin works by making an identical product of a device on a virtual pl...
May 25, 2022
Hyundai Steel, KIGAM to cooperate on carbon neutral tech

Hyundai Steel said it signed a deal with the Korea Institute of Geoscience and Mineral Resources (KIGAM) on technological cooperation to move faster towards carbon neutrality. The steelmaker said the state-funded think tank’s mineral-related technologies will be used to recycle materials and reso...
May 24, 2022
SK assesses W18tr of social value created

SK Group, South Korea’s second-largest conglomerate by assets, disclosed Monday actions to create social value and tools to measure how much impact it has generated through 2021 in numbers. The group with its subsidiaries contributed 18.4 trillion won ($14.5 billion) to combating issues such as u...
May 24, 2022
Samsung seeks foundry supremacy with 3nm chips

One of the key moments of last week’s summit talks between South Korean President Yoon Suk-yeol and US President Joe Biden was the two signing a semiconductor wafer, not a visitors’ book, during their visit to Samsung Electronics’ chip manufacturing complex in Pyeongtaek, Gyeonggi Province, Frid...
May 24, 2022
South Korea’s first lunar mission named ‘Danuri’

South Korea’s first lunar probe mission, formally known as the Korea Pathfinder Lunar Orbiter, has been named “Danuri,” the Ministry of Science and ICT said Monday. Danuri is a combination the two Korean words “dal” and “nuri,” meaning moon and enjoy, respectively. According to the ministry...
May 24, 2022
Investors warned over ‘frothy’ markets amid wobbly Kospi

As unprecedented stimulus packages to fuel South Korea’s COVID-hit economy run out, investors are increasingly worried over a possible bubble burst in stocks, property and cryptocurrencies that would make it harder for the already wobbly benchmark Kospi to return to near pre-pandemic levels. The ...
May 24, 2022
Korean robot maker Rainbow Robotics records W3.6b in sales, up 182 percent

South Korean robotics maker Rainbow Robotics said Monday that it recorded 3.6 billion won ($2.8 million) in sales in the first quarter this year, up 182 percent on-year. The Korean robot maker said the local market’s demand for collaborative robots that work with humans has pulled up its sales, a...
May 24, 2022
Policymakers seek drastic cut in real estate tax

SEJONG -- The Yoon Suk-yeol administration is considering easing the comprehensive real estate tax rate for homeowners holding a single unit to a considerable extent, starting this year. According to officials at the Ministry of Economy and Finance, the government is moving to scale back their tax...

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