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The Korea Herald

Market Now

May 23, 2022
Hana Financial Group aims to expand support for youth startups

Hana Financial Group is expanding its project to help youth startups nationwide, as it has signed the first regional partnership with the Korea National University of Cultural Heritage, the group said Sunday. According to the group, the two sides signed a memorandum of understanding at the KNUCH i...
May 23, 2022
[Market Eye] Chips, batteries, nuclear tech emerge as key agenda in Yoon-Biden summit

The US is facing imminent pressure to stay in the global chip arms race amid China’s bid to expand chip manufacturing. In 2021 alone, Chinese firms announced $26 billion in investment plans through 28 projects across China, showed an estimate by the Semiconductor Industry Association, an advocacy ...
May 23, 2022
At Biden meeting, Hyundai Motor Group unveils extra $5b investment

South Korean carmaker Hyundai Motor Group announced the second round of its investment plan Sunday, adding another $5 billion to collaborate with US firms, only a day after the company unveiled a $5.54 billion plan to build an electric vehicle-only factory in Georgia. “Hyundai Motor Group plans t...
May 23, 2022
No. of metaverse users hits lowest after distancing rules lifted

The number of metaverse users across major virtual world platforms in South Korea has dropped sharply since social distancing measures were lifted, a report showed Sunday. According to big data analysis firm Mobile Index, the number of Roblox’s weekly active users (WAU) recorded 773,678 during th...
May 23, 2022
Hyundai Steel to work with KIER to advance carbon neutral tech

Hyundai Steel has signed a memorandum of understanding with the Korea Institute of Energy Research to push for comprehensive cooperation on technologies in the energy and environment sectors with the goal of leading the steel industry’s movement towards carbon neutrality. According to the South K...
May 23, 2022
BOK likely to lift rate to tame rapid inflation: economists

The Bank of Korea is likely to raise the benchmark rate by 25 basis points to 1.75 percent this Thursday as Asia’s fourth-largest economy combats persistently high inflation and shrinking growth, according to eight out of nine economists polled by The Korea Herald. But the central bank, which usu...
May 22, 2022
Hanwha builds Korea’s first beehive monitored by using solar energy

To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panels. Hanwha Group said it has installed the solar beehive...
May 22, 2022
[Herald Interview] ‘Korea can be Silicon Valley for blockchain’

Danger of crypto volatility, metaverse monopoly Regarding the market frenzy around cryptocurrencies and questions remaining over their extreme volatility, Tapscott said, “It is a bubble in the sense that it’s way down right now and so is the stock market ... It sort of parallels the stock market...
May 22, 2022
7 in 10 job seekers willing to work at startup: survey

Over 70 percent of job seekers in South Korea said they were willing to take a position at a startup company, a survey showed Thursday. According to online recruiting platform JobKorea’s survey of 1,063 workers and job seekers, the most-selected reason for expressing a willingness to work at a st...
May 22, 2022
KT SAT seeks multiorbit strategy for 6G connectivity

“We are open to collaborating with low-Earth orbit satellite operators that are willing to take advantage of our satellite services that use geostationary satellites,” Choi said. Choi added the company is already in talks with undisclosed partners about using low-Earth orbit satellites that coul...
May 22, 2022
Korea has nearly 100,000 investors holding more than W100m of crypto

Some 100,000 retail investors in South Korea each held over 100 million won ($78,000) in deposits at cryptocurrency exchanges here as of end-2021, government data showed Thursday, fueling concerns as the recent crash of Korean-made terraUSD and luna cryptocurrencies has decimated the value of digit...
May 22, 2022
Hyundai Glovis enters Thai market

Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with loc...
May 22, 2022
Proptech startup Zigbang to launch global metaverse office

Zigbang, a South Korean proptech startup, said Thursday it will launch a global metaverse office platform that allows closer virtual interaction among staffers working for companies around the world. Soma is named after the ‘South of Market’ neighborhood in San Francisco, the home ground of Twit...
May 22, 2022
[Herald Interview] Korea’s first coloring shampoo seeks breakthrough in overseas markets

Moda Moda, the South Korean producer of the world’s first coloring shampoo using the browning reaction in stale bananas, is seeking a breakthrough in overseas markets to sidestep cumbersome regulations at home. The company is revamping overseas operations to extend its sales network connecting th...
May 22, 2022
S-Oil CEO apologizes for Ulsan refinery explosion

S-Oil Chief Executive Officer Hussain A. Al-Qahtani on Friday apologized over the explosion of its refinery in Ulsan, about 415 kilometers southwest of Seoul, and promised to take all measures possible to prevent such incident from happening again. “I would like to express my deepest condolences ...

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