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The Korea Herald

Market Now

January 25, 2023
Import car sales hit record high in 2022

Imported car sales hit a record-high of nearly 300,000 here last year, driven by pent-up demand for luxury cars during the coronavirus pandemic, industry sources said Friday. Imported car brands’ sales in 2022 increased by 2.6 percent on-year to 283,435 units, according to data from the Korea Aut...
January 20, 2023
[Contribution] Nurturing global powerhouse for startups

By Lee Young SMEs and Startups Minister With rapid growth led by large conglomerates, South Korea was able to be the world’s 10th largest economy. But now, startups are becoming another growth engine for the country, backed by the SMEs and Startups Ministry paving a powerful avenue for growing a...
January 20, 2023
[Herald Interview] KT's cloud streaming tech brings art gallery into metaverse

Because the metaverse space was hyper-realistic and interesting, some of the online visitors came to see the real artwork once again offline in Miami, according to Gallery Stan CEO Song In-ji. Artists Sambypen and Mawz also appreciated the digital twin technology for having no time and space restri...
January 20, 2023
SK On-Urbix to develop EV battery materials

South Korean battery maker SK On said Thursday it has partnered up with US-based battery materials manufacturer Urbix to develop ecofriendly anode materials for electric vehicle batteries. Under the two years of joint development agreement, SK On will apply anode materials produced by Urbix using ...
January 20, 2023
Posco completes restoration of all typhoon-hit plants

South Korea's top steelmaker Posco said Thursday it completed the restoration of its typhoon-hit steel manufacturing plants in Pohang, North Gyeongsang Province. According to Posco, all of its 17 steel manufacturing plants, which are responsible for more than one-third of Posco’s some 13.5 millio...
January 20, 2023
Pesticides found in Shin Ramyun exports to Taiwan

Hazardous substances were detected in Korean food company Nongshim's flagship ramen products to Taiwan, according to the Taiwan Food and Drug Administration Thursday. Nongshim's exports of Shin Ramyun Black Tofu & Kimchi cup noodles to Taiwan failed to pass the country's customs inspection, the TF...
January 20, 2023
Mirae Asset buoyed by upbeat overseas earnings

Mirae Asset Global Investments stands strong in the global financial market, despite a challenging economic environment. As of end-2022, Mirae Asset Global Investments' assets under management had reached 248 trillion won ($200 billion). According to the firm, 40 percent of its total assets, or 10...
January 19, 2023
LS Cable’s EV charging cable gets US certification

LS Cable & System, South Korea's top wire and cable maker, is revving up efforts to target the North American market for high-speed charging cables. The company said Wednesday it recently received the American UL Safety Certification for its high-speed electric vehicle charging cable. In Korea, h...
January 19, 2023
Researchers offer new solution to reduce clothing waste

Scientists have developed the world’s first technology to recycle clothing waste by converting discarded fiber into usable materials, the Korea Research Institute of Chemical Technology said Wednesday. A group of researchers led by Cho Joung-mo, a senior researcher at the KRICT, found a screening...
January 19, 2023
Woori Financial Group chairman relents, will step down in March

Woori Financial Group Chairman and CEO Son Tae-seung will step down from office when his second term ends in March. Son told the group’s next chairman selecting committee on Wednesday morning that he will not seek his third term, according to the Woori Financial Group. The chairman’s decision c...
January 19, 2023
Samsung's mobile chief confident about new Galaxy S series

While Samsung’s unpacking event for its new flagship Galaxy devices is set to take place in San Francisco on Feb. 1, the tech titan is expected to showcase the Galaxy S23 smartphone series, along with its other latest smart devices. Roh was confident about showing how “innovation and sustainabil...
January 19, 2023
Facelifted Hyundai Kona aims to redefine compact SUVs

Hyundai Motor Group on Wednesday launched the all-new Kona, a second-generation subcompact sport utility vehicle, with an aim to set new standards for small SUVs. “Kona is Hyundai Motor’s most iconic SUV. We took the creative design of the existing model and applied a new method of designing the...
January 19, 2023
P&G Korea's Febreze fights winter fabric odors

In winter, odors coming from coats and mufflers often don’t disappear, especially after meals in an enclosed space. Winter clothing comes from fabric made of porous fibers, therefore being kept in a state where odor-causing gas molecules are absorbed due to high moisture. Indoor ventilation is al...
January 19, 2023
[KH Explains] How soon will microLED replace OLED?

Micro light-emitting diode, or microLED, has become a buzzword in tech, as Apple -- the world’s largest consumer electronics company by revenue -- is reportedly working to use the sophisticated display technology in upcoming Apple Watches while reducing the use of organic light-emitting diode disp...
January 19, 2023
Top 100 firms spend W5.44tr on ESG efforts in 2021

The top 100 Korean companies in terms of sales invested a total of 5.44 trillion won ($4.3 billion) in environmental and safety efforts in 2021, the Federation of Korean Industries said Wednesday. The FKI analyzed the firms' environmental, social and corporate governance, or ESG, efforts based on ...

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