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The Korea Herald

Market Now

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 ...
September 26, 2022
Kumho Resort says its luxury camping a hit

A new nature-friendly camping site run by Kumho Resort, a leisure unit of Kumho Petrochemical, has made a successful debut in July, the company said Sunday, adding that the company would invest more to expand the business. "We will continue our investments in Asan Spafore so that the camping site ...
September 25, 2022
Kepco’s Barakah nuclear power plant begins operation in UAE

State-run utility firm Korea Electric Power Corp. said Friday that a nuclear power plant it helped build in the United Arab Emirates had begun its operation. According to Kepco, operators of the unit 3 reactor at Barakah, UAE, has reached a criticality level. Criticality refers to the normal oper...
September 25, 2022
Fandom power might change blockchain ecosystem, experts say

Another speaker at the forum that pointed to the power of fandom was Alexandre Dreyfus, CEO of Socios and Chiliz, an Ethereum-based coin that runs on the Chiliz blockchain. Dreyfus and his business have close ties with the concept of fandom as Socios is a fintech platform for fan engagement and fan...
September 25, 2022
Hyundai Mobis CEO elected as ISO President

Cho Sung-hwan, CEO of Hyundai Motor Group’s auto parts affiliate Hyundai Mobis, has been elected president of the International Organization for Standardization, the company said Friday. Cho is the first Korean to take the highest position at ISO, a non-profit organization that develops and publi...
September 25, 2022
US, Canada firms vow to invest W1.6tr in Korea during Yoon's trip

SEJONG -- North America-based businesses have proposed to invest $1.15 billion (1.62 trillion won) in South Korea's manufacturing sector during President Yoon Suk-yeol’s visit to the US, the Industry Ministry said Friday. Investment proposals were made at an investors' roundtable held in Manhatta...
September 25, 2022
Collaboration with fashion designers growing trend in manufacturing

Product collaborations with fashion brands continue to be popular in the local manufacturing industry, with a growing number of consumers looking to own unique items. Samsung Electronics, the country’s tech giant, said Friday it has launched a limited edition of Galaxy Z Flip 4, Galaxy Watch 5 se...
September 25, 2022
NPS, BOK to sign currency swap deal as Korean won tumbles

South Korea's pension operator and the central bank are taking steps for a currency swap agreement as the Korean won tumbled to its lowest level against the US dollar in 13 years on Thursday. The National Pension Service will borrow the greenback it needs to invest overseas from the Bank of Korea,...
September 25, 2022
SK chairman says corporate survival is key amid US-China tensions

Noting growing uncertainties surrounding the escalating US-China rivalry, SK Group Chairman Chey Tae-won said Wednesday that his priority at the moment is bracing for business survival itself, not seeking profits or efficiency. “The most urgent task is finding the way of survival under any circum...
September 25, 2022
Yoon underlines digital freedom at NYU forum

President Yoon Suk-yeol has emphasized the importance of digital technologies in contributing to the expansion of freedom, a day after he called for collective efforts to decrease the digital gap across the world in his speech at the United Nations General Assembly. “We have to gather our wisdom ...
September 25, 2022
Korean won hits 1,400 per dollar after giant Fed rate hike

SEJONG -- The Korean currency dropped to the 1,400 won range per dollar on Thursday in the wake of another “giant step” rate hike of 75 basis points from the US Federal Reserve. In addition, foreign and institutional investors turned to net sellers on the nation’s main bourse, pulling down the ...
September 25, 2022
Court orders Namyang Dairy to sell controlling stake to Hahn & Co.

A Seoul court on Thursday ordered Namyang Dairy Products shareholders to sell off its controlling shares to local buyout firm Hahn & Co., brushing off the troubled dairy company’s claims that its stock transfer deal with the private equity fund had been “rigged.” The Seoul Central District Cour...
September 25, 2022
[Market Eye] Can Arm stake deal spur Samsung's breakthrough?

Samsung Electronics Vice Chairman Lee Jae-yong's planned meeting next month with SoftBank founder Masayoshi Son raises the expectation that the South Korean tech giant could find a breakthrough with a new round of investment for future growth in the field of semiconductors. On his arrival to Seoul...

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