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The Korea Herald

Market Now

February 01, 2023
SK On exceeds hiring goal in Georgia ahead of schedule

The US State of Georgia said Tuesday SK Battery America, a production subsidiary of South Korean battery giant SK On, has exceeded its hiring goal two years earlier than the initial schedule to fill jobs at its manufacturing facilities for electric vehicle batteries in the city of Commerce, Jackson...
February 01, 2023
VW Korea halts car sales, to issue recall over faulty warning triangles

Volkswagen Korea will issue a recall of more than 67,000 vehicles and has suspended all new car sales due to faulty warning triangles, a car accessory to warn drivers after emergency stops, a move experts here called an unprecedented precautionary measure after the firm's painful “Dieselgate” bac...
February 01, 2023
Posco, Western Australia to boost ties on hydrogen, batteries

Posco Group Chairman Choi Jeong-woo met with Western Australia Premier Mark McGowan on Monday to discuss their cooperation on hydrogen and secondary battery materials businesses, the company said Tuesday. Posco “needs an intimate collaboration with Australia on hydrogen and secondary battery mate...
February 01, 2023
Daewoo E&C posts record earnings on robust housing projects

Daewoo Engineering & Construction has posted an annual operating profit of 760 billion won ($617 million), an all-time high in the company’s history. Daewoo E&C’s operating profit in 2022 was up 2.9 percent from the previous year’s 738.3 billion won, according to a regulatory filing released Tu...
February 01, 2023
Yoon calls for 'innovative approach' to make best of $30b UAE investment

South Korean President Yoon Suk Yeol vowed Tuesday to make good of the United Arab Emirates' $30 billion investment pledge with two new consultative bodies, and called on the public and private sector to come up with mutually beneficial, innovative partnership projects. Stressing that the UAE’s d...
February 01, 2023
KRX battles 'Korea discount' with earlier opening, eased regulations

The Korea Exchange unveiled a series of plans on Tuesday to transform the country's trading system in line with global standards, aiming to overcome the undervaluation of the domestic stock market. The bourse operator said it will push to open the derivatives market 15 minutes earlier at 8:45 a.m....
January 31, 2023
Samsung SDI hits W20tr in sales for first time

Samsung SDI said Monday it posted record-high earnings in both sales revenue and operating profit last year, largely driven by the surge in sales of value-added battery products. Revenue skyrocketed 48.5 percent to 20.1 trillion won ($16 billion) last year, while its operating profit jumped 9 perc...
January 31, 2023
KT&G joins hands with Philip Morris to speed up overseas expansion

In a bid to expedite its foray into the global market and ramp up its sales, South Korean tobacco company KT&G on Monday clinched its first-ever long-term contract with Philip Morris International to supply the global tobacco giant with its products. Under the 15-year sales and purchase agreement,...
January 31, 2023
[Newsmaker] Why is Samsung starting a legal fight against smartphone repair shops in US?

Samsung Display has recently filed a complaint against 17 smartphone repair shops in the US over their use of “illegal” panels that it says infringed its highly sophisticated OLED patents, according to industry sources Monday. The display-making unit of Samsung Electronics is a market leader mak...
January 31, 2023
Paris Baguette opens 100th franchise store in US

Korea’s leading bakery franchise Paris Baguette has launched its 100th franchise store in the US, stepping up its overseas business, its operator SPC Group said Monday. Reaching the milestone with the opening of "Paris Baguette Red Bank" in New Jersey, the company aims to introduce 1,000 stores a...
January 31, 2023
Kolmar Korea eyes new plant in Pennsylvania

Kolmar Korea, a cosmetics original design manufacturer, is considering building its second manufacturing facility in the US, a company official said Monday. Olyphant, Pennsylvania, is being discussed as the location for the new manufacturing facility, an official from Kolmar Korea said, but plans ...
January 31, 2023
‘Responsibility’ beats ‘professionalism’ in conglomerates’ hiring priorities

Demonstrating a sense of responsibility during a job interview will boost one’s chance of getting hired by large companies in Korea, a report from business lobby group Korea Chamber of Commerce and Industry showed Monday. Since 2008, the quinquennial report has been mainly looking into job recrui...
January 31, 2023
[NPS in Action] Korea's pension fund, under pressure, hunts for gains in foreign stocks

This is the second part of a series on South Korea’s largest investor National Pension Service, analyzing its current status and identifying tasks that lie ahead. -- Ed. South Korea’s public pension fund has been stepping up investments in foreign stocks as it faces mounting pressure to enhance ...
January 31, 2023
LG Innotek aims high with new chip substrate plant

The new factory will facilitate various smart technologies, including artificial intelligence and robots, and will start production in the second half of this year, the company said. LG Innotek injected 413 billion won ($336 million) into the FC-BGA facility and equipment, and it will continue to ...
January 31, 2023
LG Energy Solution shares close higher, beats market jitters

South Korean battery giant LG Energy Solution’s stocks stood strong on Monday, despite the end of a year-long lock-up period. The company’s shares rose by 0.79 percent to 510,000 won ($415.5) from the last trading day, according to the bourse operator Korea Exchange. The stocks tumbled by 3.16 p...

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