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The Korea Herald

Market Now

March 28, 2023
[K-Financiers] ‘Vietnam’s rising middle class will drive growth of capital market’

This is the fourth installment of a series of interviews on chiefs who run overseas units of Korean asset management, banking and securities companies, examining their key strategies for global expansion. -- Ed. Though Vietnam’s financial market has not yet matured, when it does, it will come out...
March 28, 2023
Korea mulls measures to spur spending amid inflation woes

The government is expected to unveil its scheme to invigorate domestic spending and tourism this week, amid stagnant exports struggles, to shore up the economy. The Ministry of Economy and Finance and Ministry of Culture, Sports and Tourism are drawing up measures chiefly aimed at reviving the loc...
March 28, 2023
LG stays low key on its 76th anniversary

South Korea’s fourth largest conglomerate LG Group marked its 76th anniversary on Monday. Unlike last year, the group did not plan a special event and LG Group Chairman Koo Kwang-mo did not deliver a celebratory message. “We usually do not really plan events on anniversaries, unless it is every ...
March 28, 2023
KT's CEO pick resigns under political pressure

South Korea's telecom giant, KT Corp., said Monday that its CEO nominee has decided to resign, four days ahead of the company’s shareholders’ meeting that was set to take a vote on the new chief. KT's group transformation division head, Yun Kyung-lim, indicated his intention to give up the compa...
March 28, 2023
[From the scene] Typhoon-hit Posco mill in Pohang comes back stronger

As a result of some 1.4 million people’s efforts, including those of Posco employees ranging from the chairman, executives and even retired employees working alongside firefighters and marines, the steel mill's main facilities such as blast furnaces -- which have to operate 24/7 in order to preven...
March 28, 2023
Asiana Airlines speeds up integration with Korean Air

Asiana Airlines said Monday it has formed a task force to accelerate the business integration process with Korean Air. The task force, headed by Asiana Airlines Vice President Won Yoo-suk, consists of a total of 42 staff and executives. Legal and strategic planning units will oversee the task for...
March 28, 2023
Hyundai Glovis, GS Energy to work together for green energy business

Hyundai Glovis announced Monday that it has signed a memorandum of understanding with GS Energy for cooperation in clean hydrogen, ammonia, and green energy at its Seoul headquarters. According to the agreement, Hyundai Glovis will be in charge of maritime transportation for the clean hydrogen and...
March 28, 2023
Mask sales up despite lifted mask mandate

Mask sales are still growing a week since the lifting of the mask mandate for public transportation, according to sales data compiled from online shopping sites Monday. The South Korean government has been gradually easing mask-wearing rules starting with wearing masks outdoors last May and in mos...
March 28, 2023
Hana chief hints at rate cuts for borrowers

Hana Financial Group Chairman Ham Young-joo on Monday hinted at adjusting interest rates as part of efforts to ease the growing financial burdens of customers. Ham, at a meeting with executives across affiliates to mark his first anniversary in office, emphasized the need to thoroughly review the ...
March 28, 2023
[Herald Interview] Rebellions aims to be 'next Samsung' in AI chips

The Korea-based startup drew immediate attention from the nation’s fabless industry when it released its first chip for AI-based stock trading, called ION, in November 2021. The chip is now widely adopted by several Wall Street investment firms, including Soft Bank-backed Qraft Technologies. Anot...
March 27, 2023
Kakao’s SM acquisition nears completion

Kakao's plan to acquire leading K-pop agency SM Entertainment is nearing its final stage, with the music label's annual general meeting set to take place Friday. According to industry sources, the South Korean internet and portal giant's tender offer to buy a 35 percent stake of SM has won enough ...
March 27, 2023
[From the Scene] Hyundai Heavy Industries aims to cement global No.1 position

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
March 27, 2023
Posco Future M named top supplier for General Motors

South Korea’s battery materials producer Posco Future M said Sunday it has received an award from General Motors for its outstanding achievement across the global purchasing and supply chain. It was one of 14 companies to have received the General Motors’ Overdrive Award, which is given to compa...
March 27, 2023
Samsung chief travels to China first time in 3 years, meets with key officials

Samsung Electronics Chairman Lee Jae-yong is making the most out of his first trip to China in three years, inspecting the affiliates’ production facilities, meeting with key Chinese officials and attending a high-profile summit with global business leaders. Samsung Electronics said Lee attended ...
March 26, 2023
Former bank officials convicted for recruitment scandal

Four former Hana Bank officials have been found guilty by the Supreme Court for manipulating recruitment results in favor of graduates from certain schools and those recommended by high-ranking bank officials or financial authorities. They were also accused of discriminating female applicants from...

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