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The Korea Herald

Market Now

January 12, 2023
[From the Scene] Samsung spurring innovation from Silicon Valley

SRA, where the most advanced tech is developed Just 10 minutes away by car from the DSA headquarters is Samsung Research America, one of the 15 research institutes the Korean tech giant operates in 14 countries. The SRA oversees the conglomerate’s most advanced technologies for the Device eXperi...
January 12, 2023
Samsung to unveil Galaxy S23 on Feb. 1 in San Francisco

Samsung Electronics on Wednesday sent out invites to its annual unpacking event for its new flagship Galaxy devices that will take place in San Francisco at 10 a.m. on Feb. 1. Entitled “Galaxy Unpacked 2023: Share the Epic,” the event will be held in person for the first time in three years sinc...
January 12, 2023
After record earnings, banks feel pressured to lower lending rates

With Woori Bank joining crosstown rivals Shinhan Bank and Hana Bank in lowering lending rates, those hoping to take out loans can breathe a little easier. Woori Bank on Tuesday announced on its website that it is expanding its prime rates --which are applied to credit worthy loyal customers -- for...
January 12, 2023
Hanwha Solutions to invest W3.2tr in US solar energy business

Hanwha Solutions will invest 3.2 trillion won ($2.57 billion) in expanding its solar energy businesses and building additional facilities to complete the manufacturing line in the United States through next year, the South Korean company said Wednesday. The company said it plans to set up a solar ...
January 12, 2023
SK hynix raises $1b via industry’s first sustainability bond

SK hynix, a semiconductor manufacturer under SK Group, announced on Wednesday that it has successfully issued a Sustainability-Linked Bond worth $1 billion, making it the first global chipmaker to do so. SLB is a type of bond with interest rates that are adjusted depending on whether a company's e...
January 12, 2023
[Herald Interview] Yuhan aims for bigger presence in US

By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO – South Korean pharmaceutical giant Yuhan is seeking to increase cooperation with researchers and biotechnology firms based in the US, with hopes to benefit from the nation’s abundant human resources and research opportunities. “Yuhan ...
January 12, 2023
Lotte Biologics pledges $3b to beef up production at home

By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO -- Lotte Biologics will invest around $3 billion by 2030 to build new CDMO plants in South Korea, Lotte Biologics CEO Richard Lee announced during the company’s presentation at the 41st JPMorgan Healthcare Conference held in San Francisco...
January 12, 2023
'Economy will go down the rabbit hole,' survey finds

Concerns over deepening economic slowdown and a bleak outlook for global business conditions, experts predicted that this year the country’s economy would fall deep into a dark and chaotic situation as if it "goes down the rabbit hole." Korea Chamber of Commerce and Industry summarized the opinio...
January 11, 2023
Banking groups under pressure to boost dividend payouts

Bank stocks in South Korea have long been regarded as an unappealing option for investors. Against this backdrop, a local activist fund was launched Monday targeting seven large Korean lenders to whet investor appetite by shoring up dividends. Korean banks have strong fundamentals and enough capit...
January 11, 2023
SK to host San Francisco biopharma networking event

SK Inc., the investment arm of SK Group, said Tuesday it will co-host a networking event with the group’s biopharmaceutical affiliates including SK biopharmaceuticals and SK pharmteco to expand its global partnerships in the US, the world’s largest bio and pharmaceutical market. The event, title...
January 11, 2023
Ex-GM Korea CEO found guilty of illegally outsourcing labor

Kazem was sentenced to eight months in prison and a two-year probation, while GM Korea was slapped with a 30 million won ($24,260) fine, according to the Incheon District Court. Four former and current executives of GM Korea and 13 CEOs of subcontractors who illegally outsourced their workers to th...
January 11, 2023
KSOE to develop large-capacity fuel cell systems for ships

Korea Shipbuilding and Offshore Engineering said Tuesday it has signed a memorandum of understanding with two European partners to develop large-capacity fuel cell systems for ships and other power generation. The two partners include Germany’s Fraunhofer IKTS, the largest applied research instit...
January 11, 2023
Posco International to build palm oil refining plant in Indonesia

Posco International, a trading and energy unit of Posco Group, said Tuesday it is building a crude palm oil refining plant in Indonesia, pinning high hopes on the huge potential across industries, including food, cosmetics and bioenergy. The decision comes after its board recently approved $200 mi...
January 11, 2023
Fila becomes first Korean fashion company to get DJSI listing

South Korean sportswear brand Fila Holdings said Tuesday it has become the first Korean fashion company to be included in the Dow Jones Sustainability Indices, an accredited benchmark of a company’s commitment to environment, social and governance matters. Fila Holdings attributed its DJSI listin...
January 11, 2023
Biotech firms flock to JPMorgan Healthcare Conference

Korea Herald correspondent SAN FRANCISCO -- The 41st Annual JPMorgan Healthcare Conference kicked off on Monday in San Francisco. This year, three South Korean companies will give presentations, while many others will hold meetings to attract new partners and investors. Around 550 presenting comp...

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