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The Korea Herald

Market Now

May 29, 2023
Foreign investors return to Korean stock market

Foreign investors have returned to the Korean stock market, net buying more than 11 trillion won ($8.29 billion) this year, buoyed by the outlook of a chip recovery. According to data compiled by the Korea Exchange, non-Korean investors net bought Korean shares worth 11.77 trillion won from Jan. 2...
May 29, 2023
Retail investors' battery frenzy continues

While foreign investors are scooping up major tech shares, retail investors in Korea are continuing to bet on a battery boom, anticipating further growth for the industry. Earlier this year, share prices of battery-related firms soared, as Korean battery firms are expected to benefit from the US I...
May 29, 2023
[Weekender] Luxury labels target teens

Brand partnerships to lower entry barriers High-end fashion houses are also joining hands with more mainstream brands in an attempt to lower the barrier to entry. Louis Vuitton’s partnership with streetwear fashion label Supreme in 2017 signaled a pivot for the brand. It indicated the luxury fas...
May 29, 2023
Mirae Asset's global ETF executives gather to shape future direction

Mirae Asset Global Investments said Friday that it held a gathering of executives worldwide to discuss the asset manager's future direction in the global exchange-traded fund business and to evaluate the current status of each market. With 70 CEOs and chief investment officers of Mirae Asset's ove...
May 29, 2023
Hyundai Steel wins eco-friendly certification for low-carbon steel beams

South Korea’s second-largest steelmaker said Friday that it has obtained a low-carbon product certification for its flagship H-beam steel product from the Ministry of Environment, the first to do so in the domestic steel industry. With the latest attainment, Hyundai Steel has secured Environmenta...
May 29, 2023
5 Nuri rocket satellites make successful communication

With South Korea’s homegrown Nuri rocket’s successful launch to space, five out of eight satellites carried on board made two-way communication with ground stations, the Ministry of Science and ICT said Friday. The country’s King Sejong Station in Antarctica received the first signal from the m...
May 29, 2023
Celltrion seeks approval for Stelara biosimilar in EU

Celltrion said Friday that the company has submitted a marketing authorization application for CT-P43, the company's ustekinumab biosimilar referencing Stelara, to the European Medicines Agency. Stelara is one of Janssen's top-selling drugs. In 2022, Stelara generated $9.7 billion in revenue, acco...
May 29, 2023
Lack of pediatricians causes long lines at children's clinics

Finding a pediatric clinic in South Korea has become increasingly difficult due to a continuing shortage of pediatricians, leading to longer wait times for patients to get treated. “It is very common to wait for dozens of people who made reservations before you,” Yoo, a mother of a 4-year-old bo...
May 29, 2023
Hyundai-LG Energy Solution to set up EV battery plant in US

Hyundai Motor Group said Friday that it has agreed with LG Energy Solution to jointly build an electric vehicle battery manufacturing plant in the US, expanding their footing in the burgeoning clean car market there. Under a joint investment of 5.7 trillion won ($4.3 billion), the two companies pl...
May 29, 2023
Jungheung Group vice chairman to become Daewoo E&C chairman

Daewoo Engineering & Construction announced Friday that Jungheung Group Vice Chairman Jung Won-ju will become chairperson of the company, starting June 1. Jungheung Group is the largest shareholder of Daewoo E&C with a controlling 50.75 percent stake after completing the acquisition process last y...
May 29, 2023
Naver upgrades search engine with AI

South Korean internet giant Naver has carried out an extensive renewal of the interface of its search engine to maximize user experience for super-personalized results based on artificial intelligence, the company said Friday. Naver, which operates the country’s No. 1 web portal and search engine...
May 26, 2023
SC Bank holds prize event for new special interest account holders

Standard Chartered Bank Korea is holding an event for first-time customers who sign up for its Jaeil EZ Account – an occasional deposit and withdrawal account that provides an annual pretax interest rate of up to 3.6 percent even if customers deposit money for just one day. The event, which conti...
May 26, 2023
[Herald 70th] 'Korea-US-Japan joint efforts on trade, strategic tech crucial'

Forging robust security and economic alliances with the United States and Japan is crucial for South Korea to embrace a reshaped global geopolitical paradigm, said Jun Kwang-woo, chairman of the Institute for Global Economics. “The trilateral allies must bolster their economic cooperation and pur...
May 26, 2023
[Test Drive] Kona Electric flaunts longer range, bigger space

The all-new Kona Electric -- Hyundai Motor’s latest all-electric compact sport utility vehicle -- is looking to lure customers with a roomier interior, longer driving range and sound riding experience. The South Korean automaker on Tuesday held a test drive event for local journalists to ride the...
May 26, 2023
SK IE Technology secures $300m to expand production in Poland

Electric vehicle parts maker SK IE Technology has secured a green financing package loan worth $300 million from the International Finance Corp. for its planned production expansion in Poland. Of the total amount, two-thirds will come directly from the IFC, while the remainder will be offered by o...

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