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The Korea Herald

Industrials

November 19, 2024
Hyundai E&C appoints first CEO born in 1970s, signals generational shift

The appointment of Lee Han-woo, head of Hyundai Engineering & Construction's housing business division, as its new executive vice president and CEO marks a generational shift as Lee becomes the company's first CEO born in the 1970s. Born in 1970, Lee joined the company in 1994 and has held a range...
November 19, 2024
Korea's space development to hit wall without private sector initiative: report

The private sector should take the initiative in South Korea’s space development, currently led by state-run institutes, and foster the ground equipment and satellite communication service industries for the country to ascend as a space powerhouse, a report suggested Tuesday. The Federation of Ko...
November 19, 2024
CJ CheilJedang to divest W6t bio division

South Korean food giant CJ CheilJedang has reportedly decided to sell its industry-leading bio division, which had been a key pillar alongside its food business, signaling a shift in its strategic growth priorities. According to investment banking sources Tuesday, CJ CheilJedang is believed to hav...
November 19, 2024
Vice foreign minister vows support for Posco Future M’s anode plant

Second Vice Foreign Minister Kang In-sun visited Posco Group’s battery materials subsidiary Posco Future M’s anode manufacturing plant in Sejong, pledging to support the facility in recovering its production levels. While touring the site Monday, Kang said, “Natural graphite and anode materials...
November 19, 2024
Hanwha Life partners with Stanford HAI for AI technologies

Hanwha Life, a leading Korean insurance company and subsidiary of Hanwha Group, announced Tuesday that its artificial intelligence research unit has been conducting a joint study with Stanford University's AI institute after signing a collaboration agreement. Launched in June, Hanwha Life AI Resea...
November 18, 2024
Korea Zinc buyout could jeopardize high-tech supply chains: sources

Young Poong’s bid to buy Korea Zinc has been met with concerns that the takeover of the world’s largest zinc smelter could erode its position in the global markets and cause high-tech supply disruptions. Industry watchers have cast doubt over the ability of Young Poong and private equity firm MB...
November 18, 2024
Woori Bank raided over improper loans tied to ex-chairman

South Korean prosecutors raided the headquarters of Woori Bank on Monday as part of an ongoing probe into alleged improper loans linked to family members of former Woori Financial Group Chairman Son Tae-seung. The Seoul Southern District Prosecutors' Office searched offices at Woori Bank’s centra...
November 18, 2024
Hana eyes senior services in Hong Kong expansion

Hana Financial Group Chairman Ham Young-joo pledged to enhance wealth management services tailored to senior generations in Hong Kong, emphasizing the group’s global expertise and commitment to deepening ties between South Korea and the city’s financial sectors. Ham made the remarks during a mee...
November 18, 2024
Hyundai Rotem to supply armored vehicles to Peru

Hyundai Rotem, South Korea’s sole tank manufacturer, announced Monday that it has signed a comprehensive cooperation agreement with Peru to advance plans for exporting armored vehicles to the country. The agreement, signed Saturday between Hyundai Rotem President Lee Yong-bae and Jorge Zapata, CE...
November 18, 2024
Health care joins energy as key focus in Korea-Mongolia ties

The forum’s importance was further underscored by a congratulatory message from Ban Ki-moon, former UN Secretary-General. Ban applauded the forum’s expansion into health care and resource collaboration. “This kind of cooperation is exactly what we need to address global challenges like energy se...
November 18, 2024
Korea, Mongolia target clean energy, health care in deeper collaboration efforts

Luvsan Khurelbaatar, chairman of Mongolia’s Monos Group, shared details about the Silk Road Project, a long-term initiative in partnership with Korea’s Daegu Haany University. The project aims to enhance medical education, research, and production in Mongolia, with a particular focus on tradition...
November 18, 2024
[Herald Interview] Busan mayor envisions city as Korea’s southern hub for balanced growth

Busan Mayor Park Heong-joon has called for a shift in South Korea’s development model, warning that the overconcentration of resources in the Seoul metropolitan area has created a national crisis. “The imbalance caused by unipolarity in the Seoul area is deepening South Korea’s critical challeng...
November 18, 2024
[From the Scene] Climate change threatens Jeju's mandarin orange business

Despite these efforts, local officials acknowledge the challenges posed by erratic weather patterns, including decreased fruit size and delayed coloring. Meanwhile, subtropical crops are emerging as a potential alternative as Jeju’s climate grows warmer. The Agricultural Research Institute for Cl...
November 18, 2024
HD Hyundai to step up cooperation with SIMA Peru

HD Hyundai Heavy Industries announced Monday that it signed a memorandum of understanding with state-operated shipyard SIMA Peru in Lima, Peru, last week to jointly develop submarines as part of the Peruvian Navy’s vessel replacement project. Through the partnership, HD Hyundai and SIMA will make...
November 18, 2024
Naver, Saudi’s National Housing Co. to set up JV

Korean internet giant Naver said Monday that it has agreed to establish a joint venture with Saudi Arabia’s state-owned real estate development and investment company to operate and commercialize digital twin platforms in the 17th largest economy in the world. Naver and National Housing Company s...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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