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The Korea Herald

Market Now

January 10, 2023
Broadcom pledges W20b corrective measures for abusing market power

US chipmaker Broadcom has voluntarily come up with corrective measures, including a fund of 20 billion won ($16.1 million), to support the local chip industry amid an ongoing antitrust probe into the company's alleged abuse of power against Korean clients, including Samsung Electronics. On Monday,...
January 10, 2023
BOK likely to continue rate hikes

With the Bank of Korea set to hold the first rate-setting meeting of the year Friday, the market is expecting it to raise the base interest rate 25 basis points to 3.5 percent. In the latest Monetary Policy Committee meeting held in November, the Bank of Korea raised its benchmark interest rate by...
January 10, 2023
KB Financial chief urges employees to prepare for coming winter

KB Financial Group Chairman Yoon Jong-kyoo on Friday asked employees to prepare to endure the coming winter of the financial market with the group’s core competitiveness during a business strategy meeting for the first half of 2023. More than 270 executives from the holding company and its 12 sub...
January 09, 2023
[KH explains] Why are banks cutting staff amid record profits?

The notion that South Korea’s banking sector guarantees “lifetime” job security is becoming a thing of the past. All four top commercial banks -- Shinhan Bank, KB Kookmin Bank, Woori Bank and Hana Bank -- are in process of conducting voluntary retirement schemes, with aims to shed some 3,000 wo...
January 09, 2023
[CES 2023] Samsung CEO braces for rough year

LAS VEGAS – Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said the South Korean tech giant was bracing for a rough year ahead, renewing his commitment to seeking new growth drivers in futuristic technologies such as robots and the metaverse. “Overlapping crises, including the prolong...
January 09, 2023
Hana Financial chief attends CES for inspiration

Hana Financial Group said Sunday that Chairman Ham Young-joo took time to look around different booths at the Consumer Electronics Show 2023 in Las Vegas on Thursday. Along with more than 20 young managers from the group’s affiliates, Ham tried out different products at booths of local conglomera...
January 09, 2023
[CES 2023] KSOE to test large ship’s autonomous sailing in 2024

LAS VEGAS -- Korea Shipbuilding and Offshore Engineering on Friday signed a partnership with the American Bureau of Shipping to accelerate the development of unmanned large ships. “The cooperation with the ABS will be a great help for HD Hyundai to lead the development and commercialization of au...
January 09, 2023
CheongKwanJang tops global ginseng sales for 10 years straight

Sales of red ginseng health supplement brand CheongKwanJang held the largest market share in the global ginseng market for 10 years in a row, Korea Ginseng Corp. said Sunday. According a report published by market research firm Euromonitor International, the global ginseng retail market was valued...
January 09, 2023
[CES 2023] [From the Scene] SK intrigues attendees with carbon-reducing tech

By Kan Hyeong-woo Korea Herald correspondent By Kan Hyeong-woo ( hwkan@heraldcorp.com )
January 09, 2023
[CES 2023] LG CEO seeks breakthrough with car tech

LAS VEGAS -- LG Electronics CEO Cho Joo-wan pinned high hopes on the South Korean tech giant’s burgeoning automotive solutions business, pledging to diversify its business portfolio to tackle challenges this year. “Our automotive solutions business has made a turnaround 10 years since the launch...
January 09, 2023
[CES 2023] [From the Scene] Bodyfriend combines health care with massage chair

“It was really good. The back, the neck and the shoulders were the best part. It is a major improvement from everything else I’ve tried,” said a CEO of a government consulting company based in Washington, D.C. wanting to remain anonymous. “One of my best friends owns a company of like 300 peop...
January 09, 2023
[NCSI] Samsung C&T, Samsung Fire & Marine, Kumkang Shoe, Lotte Duty Free top customer satisfaction rankings

Korean companies have achieved a higher level of customer satisfaction despite the lingering impact of the COVID-19 pandemic that placed a prolonged drag on economic activity and daily lives in 2022, according to an annual survey by the Korea Productivity Center. The KPC’s National Customer Satis...
January 09, 2023
[NCSI] S. Korea outranks rival countries in consumer satisfaction

South Korean customers were more satisfied with their goods and services in 2022, compared to those in the US, Japan and Singapore, according to the National Consumer Satisfaction Index published annually by the Korea Productivity Center. The index is not only a measure of consumer satisfaction, b...
January 06, 2023
[CES 2023] Samsung pins high hopes on heightened connectivity among devices

By Jo He-rim Korea Herald Correspondent LAS VEGAS -- Samsung Electronics Vice Chairman Han Jong-hee shared a detailed vision to create "calmer" connected world to heighten connectivity among devices, and reiterated the company's pursuit of net-zero emissions at the world's largest home appliance ...
January 06, 2023
SK Ecoplant partners with CSCEC to expand business in Egypt, China

SK Ecoplant said Thursday it struck up a partnership with world-class builder China State Construction Engineering Corp. in a bid to ramp up their joint efforts for further attracting overseas renewable energy projects. Under a memorandum of understanding, the construction unit under SK Group and ...

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