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The Korea Herald

Market Now

September 15, 2022
World's largest OLED TV set for local release on Sept. 21

LG Electronics said Wednesday it plans to release the world's largest 97-inch premium television using the flat-panel organic light-emitting diode display for home cinema experience in South Korea on Sept. 21. Dubbed the LG OLED evo Gallery Edition, the massive TV measures more than 2.4 meters acr...
September 15, 2022
SKT-led consortium to commercialize Jeju UAM route for tourism

By 2025, tourists visiting Jeju Island will be able to hop on Urban Air Mobility or air taxis to head to major tourism spots, a consortium comprising Hanwha Systems, SK Telecom and Korea Airports Corp. said Wednesday. At an agreement signing ceremony with Jeju Special Self-Governing Province Wedne...
September 15, 2022
Naver Z joins global alliance to fight online child abuse

Naver Z, the metaverse affiliate of South Korean IT giant Naver, has joined the Tech Coalition to fight online sexual abuse and exploitation of children, the company said Wednesday. Established as a voluntary working group in 2006, the Tech Coalition is a global alliance of technology companies th...
September 15, 2022
Lee Jae-yong heads for Panama, first importer of Samsung's color TV

Samsung Electronics Vice Chairman Lee Jae-yong has visited Panama to hold talks with Panamanian President Laurentino Cortizo and meet Samsung executives there, the tech giant said Wednesday. The isthmus country, which connects Central and South America, was the first importer of Samsung Electronic...
September 15, 2022
Google, Meta fined W100b for illegal collection of personal data

The South Korean government has imposed a total of 100 billion won ($72 million) in fines against Google and Meta for illegally collecting and using personal information for customized advertisements, officials said Wednesday. The Personal Information Protection Commission under the Prime Minister...
September 15, 2022
SK-backed AI chip outperforms Nvidia's GPU

Sapeon, an artificial intelligence-powered chip designer backed by South Korea's SK Group, unveiled Tuesday a test result that its first commercialized product X220 has outperformed US graphic processor giant Nvidia's newest product A2. The chips for data centers in two varieties, X220-Compact and...
September 15, 2022
Hanmi Pharmaceutical scores 1st US FDA approval

Hanmi Pharmaceutical has scored its first approval from the US Food and Drug Administration with its novel biomedicine Rolontis. Rolontis -- Hanmi Pharmaceutical's treatment for neutropenia, a disease that occurs when a specific type of white blood cells is lacking so that the body cannot fight in...
September 15, 2022
BOK vows market stability with eye on US rate hike

Speculation over a third giant rate hike of 75 basis points by the US Federal Reserve next week runs higher than ever, but the Bank of Korea sought to reassure market watchers Tuesday that preparations to cushion its impact were underway. “We have to step up monitoring of capital inflows and outf...
September 15, 2022
Prosecutors consider defining luna as security

South Korean prosecutors are considering whether to view the troubled cryptocurrency luna as a security, a move which could put the coin developers and those complicit under scrutiny for not only fraud, but also for violations of the Capital Markets Act. The Seoul Southern District Prosecutors Off...
September 15, 2022
KB opens largest 'premium' private banking branch

South Korea’s KB Financial Group said Tuesday it has recently opened the nation’s largest premium private banking branch in Seoul in a bid to provide a fuller range of services to its wealthy clients. The seven-story building, named after the bank’s recently launched premium banking service “K...
September 15, 2022
Use of disposable cups soars during pandemic

The use of disposable cups has soared during the pandemic years, with the annual number exceeding 1 billion for the first time last year, a report showed Tuesday. According to an Environment Ministry report submitted to Rep. Lee Joo-hwan of the ruling People Power Party, the number of single-use p...
September 15, 2022
After weeklong repair, Posco resumes production at typhoon-hit plant

South Korean steel giant Posco said Tuesday that it has resumed operation of steel production at its manufacturing plant in Pohang, North Gyeongsang Province, a week after the factory had been stalled due to heavy rain on Sept. 6 linked to Typhoon Hinnamnor. Over the four-day national Chuseok holi...
September 15, 2022
JYP overtakes entertainment giant CJ ENM in market cap

The market capitalization of JYP Entertainment, one of South Korea’s four major K-pop powerhouses led by producer Park Jin-young, has remained higher than that of Korea's largest entertainment firm CJ ENM for three consecutive weeks, data showed Tuesday. According to Korea Exchange on Tuesday, JY...
September 15, 2022
Coupang denies local reports on selling Coupang Eats

South Korean e-commerce giant Coupang released a statement on Tuesday dismissing local reports that it was planning on selling its food delivery service Coupang Eats. “The rumor that we are selling Coupang Eats is groundless, and we have taken no measures to sell the service,” the company said i...
September 15, 2022
Korean won sinks to worst level since 2008 financial crisis

South Korea is inching ever closer to a repeat of the 2008-2009 global financial crisis as the local won weakened against the US dollar to close at 1,390.9 won in the onshore market -- a 17.3 won retreat from the previous session and its weakest level since 1,391.5 won in March 2009. Stronger bets ...

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