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The Korea Herald

Market Now

May 17, 2022
Wealth gap between richest and poorest in 20s and 30s widens

The wealth gap between the richest Koreans in their 20s and 30s and their poorest peers increased more in 2021 than the previous year, a lawmaker said, citing data compiled by Statistics Korea. In 2021, the top 20 percent of wealthy Koreans in their 20s and 30s held 981.85 million won ($764,442) o...
May 17, 2022
Meet SKT’s new mobile virtual assistant A.

The character options are designed to offer users a sense of emotional attachment to the visual agent of A., said Yea Hui-kang, vice president and head of Brand Strategy Office at SK Telecom. “We expect users to create emotional touch from characters because characters are offering a sense of int...
May 17, 2022
[Herald Interview] ‘BTS’ military service will have limited impact on KPOP ETF’

But at the same time, analysts painted a rosy outlook for K-pop-related investments, highlighting the local entertainment industry’s capacity to become early adapters of new technologies. Korean entertainment companies now own various intellectual property rights that can boost their metaverse-rel...
May 17, 2022
Motorola phones back in Korea after 9-year hiatus

A South Korean budget mobile carrier said on Monday it will introduce two 5G Motorola smartphone models, nine years after the American brand pulled out the mobile business here. Bookings for the new phones, which will be released at the end of this month, can be made at the online mall of LG Hello...
May 16, 2022
Air carriers resuming outbound routes ahead of holiday season

Following the government’s eased rules on COVID-19 testing for travelers, air carriers are bracing for the summer holiday season as they reopen suspended international routes and refurbish cargo planes to carry passengers. On Sunday, the country’s largest flag carrier Korean Air announced that i...
May 16, 2022
Hyundai Motor unveils Korean ‘ondol’-inspired mobility concept

Hyundai Motor Group on Sunday unveiled its latest mobility concept inspired by the Korean traditional floor heating system “ondol” that allows passengers to take rest inside or even sleep with a specially designed multifunctional blanket. According to the carmaker, its new mobility concept, Mobi...
May 16, 2022
After 100 days, 7 out of 10 firms still not ready for safety law

Even 100 days after South Korea’s new industrial safety law went into effect, almost 7 out of 10 companies here say they still cannot fully understand the law and face difficulty complying with it, a survey showed Sunday. According to a survey of 930 local companies conducted by the Korea Chamber...
May 16, 2022
Air carriers resuming outbound routes ahead of holiday season

Following the government’s eased rules on COVID-19 testing for travelers, air carriers are bracing for the summer holiday season as they reopen suspended international routes and refurbish cargo planes to carry passengers. On Sunday, the country’s largest flag carrier Korean Air announced that i...
May 16, 2022
Samsung says 6G critical XR, hologram, digital replica

While 5G penetration is still largely underway worldwide, it does not mean progress to build a faster wireless network globally has peaked. In order to offer users a full-fledged immersive experience, 6G will inevitably replace 5G networks, experts said in the first Samsung 6G Forum hosted virtual...
May 16, 2022
What’s behind Hyundai Motor‘s $7b EV plant plan in US?

On news reports that South Korea’s auto giant Hyundai Motor is set to announce a $7 billion investment plan in US, market experts said Friday that the carmaker appears to have done the math: lucrative state incentives, tax benefits, growing demand for electric vehicles and perhaps, proximity of ba...
May 13, 2022
KRX prepares to launch carbon credit futures

The Korea Exchange is preparing to launch a carbon credit futures contract to help bring price signals to what it says would be the new derivatives market, officials said Thursday. “The spot trading in carbon dioxide quotas has surged, but a lack of liquidity is a cause for price volatility,” an...
May 13, 2022
Korea needs more digital solution providers, CJ tech chief says

Despite rapid digital transformation shaking up industries from manufacturing to finance, South Korea still lacks companies that can provide digital solutions to business challenges, a tech chief executive officer of retail and food giant CJ Group said Wednesday. “It’s the ugly truth that althou...
May 13, 2022
Korea develops antiviral nasal spray

South Korean researchers have developed a nasal spray that can kill viruses and bacteria including COVID-19, the culprit of the unprecedented pandemic, the Korea Institute of Science and Technology said Thursday. Labeled the “invisible mask” for its capacity to prevent virus infection as if one ...
May 13, 2022
Another employee theft puts Woori’s reputation at stake

An employee at Woori Bank embezzled 490 million won ($380,000) earlier this year, reports said Thursday, dampening the lender’s struggle to rebuild its reputation after a separate 60 billion won employee theft was uncovered last month. The employee, whose identity was withheld, stole the money by...
May 13, 2022
Cabinet approves Yoon’s 1st bill on W59tr-extra budget

SEJONG -- The Cabinet endorsed the supplementary budget worth 59.4 trillion won ($46 billion) in its first meeting under the Yoon Suk-yeol administration in Seoul on Thursday. The budget, drawn up by a group of ministries, is mostly aimed at supporting the self-employed and microbusiness owners. B...

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