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The Korea Herald

Market Now

January 15, 2023
LG, Honda set up $4.4b joint battery venture in US

LG Energy Solution and Honda have completed the establishment of a joint venture to build a battery manufacturing plant in the US, officials announced Friday. The joint venture, tentatively named L-H Battery Company, marks the first collaboration between a South Korean battery maker and a Japanese...
January 15, 2023
Global chipmakers to invest over $300m in AI-designed chips this year

The world’s leading semiconductor companies will likely spend more than $300 million in the development of artificial intelligence (AI) to help design semiconductors faster this year as a global chip shortage continues to put a strain on demand, Deloitte Korea said Friday in its report. According...
January 15, 2023
SK pharmteco pushes back IPO plan until 2024

SK pharmteco, a California-based contract development and manufacturing organization under Korean conglomerate SK Inc., is expected to postpone its initial public offering at least until 2024 due to market volatility, top officials from the firm and SK affiliates said Wednesday. The year of 2024 w...
January 15, 2023
Orchestra Private Equity to acquire KFC Korea for 60 billion won

Orchestra Private Equity, a private equity firm based in Singapore, has signed a stock purchase agreement to acquire chicken franchise KFC Korea, according to industry sources on Friday. Under the deal signed on Thursday, Orchestra PE will purchase a 100 percent stake in KFC Korea from KG Group, a...
January 13, 2023
Samsung Biologics to enter antibody-drug conjugate market

By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO -- Samsung Biologics pinpointed antibody-drug conjugates, a next-generation technology in cancer treatment, as one of its future growth drivers as the South Korean biotech giant unveiled its business strategies and investment plans Wednesd...
January 13, 2023
LG Electronics’ OLED evo collects awards at Visual Grand Prix

LG Electronics revealed on Thursday that its OLED evo received the highest honor, the VGP Gold award, in the 50-to-60-inch and under-45-inch OLED TV categories at the Visual Grand Prix 2023. The product also received the Critics Award in the visual category. The VGP is an annual audio-visual (AV) ...
January 13, 2023
Hyundai Motor Group chief named MotorTrend Person of the Year

Hyundai Motor Group Executive Chair Chung Euisun has been named the MotorTrend Person of the Year, the South Korean carmaker announced Thursday. With the award, Chung topped the US automobile magazine's list of the 50 most influential figures in the global automotive industry. He was ranked fifth ...
January 13, 2023
Hana Financial chief visits Google amid big digital push

While staying in the US to attend the 2023 Consumer Electronics Show, Hana Financial Group Chairman Ham Young-joo took time to visit Google Bay View Campus on Friday. According to the group, Ham intended to get some inspiration for digitalization through communicating with employees of the global ...
January 13, 2023
Saudi Arabia bets big on Hallyu with W1.2tr Kakao investment

Saudi Arabia’s state fund decided to join in 1.2 trillion won ($964 million) investment in Kakao Entertainment, doubling down on its aggressive bet on the burgeoning Korean content industry. The company, the entertainment arm of Kakao Corp., said it has raised 600 billion won in financing by issu...
January 13, 2023
SKT, Joby aim to speed up Korean-style UAM

South Korea’s largest wireless carrier, SK Telecom, and US aviation company Joby Aviation said Thursday they advanced a strategic partnership for a boost in the commercialization of Korean-style urban air mobility, or UAM. Joby Aviation recently invited officials from the Ministry of Land, Infras...
January 13, 2023
Naver becomes biggest shareholder in Spain's No. 1 resell platform

In continued efforts to expedite its foray into the global consumer-to-consumer, or C2C, market, e-commerce platform Naver recently became the largest shareholder of Spanish secondhand marketplace Wallapop with an investment worth 75 million euros ($80.7 million), according to industry sources Thur...
January 13, 2023
[KH explains] Apple’s move to ditch Korean displays met with skepticism

Having announced its plans to make more chips on its own, Apple, the world’s largest consumer electronics company by revenue, is now reportedly seeking to use its own displays whose supplies are heavily reliant on South Korea’s Samsung and LG. Bloomberg reported Wednesday that Apple is planning ...
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...

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