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The Korea Herald

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January 13, 2023
LG Electronics’ OLED evo collects awards at Visual Grand Prix

LG Electronics revealed on Thursday that its OLED evo received the highest honor, the VGP Gold award, in the 50-to-60-inch and under-45-inch OLED TV categories at the Visual Grand Prix 2023. The product also received the Critics Award in the visual category. The VGP is an annual audio-visual (AV) ...
January 13, 2023
Hyundai Motor Group chief named MotorTrend Person of the Year

Hyundai Motor Group Executive Chair Chung Euisun has been named the MotorTrend Person of the Year, the South Korean carmaker announced Thursday. With the award, Chung topped the US automobile magazine's list of the 50 most influential figures in the global automotive industry. He was ranked fifth ...
January 13, 2023
Hana Financial chief visits Google amid big digital push

While staying in the US to attend the 2023 Consumer Electronics Show, Hana Financial Group Chairman Ham Young-joo took time to visit Google Bay View Campus on Friday. According to the group, Ham intended to get some inspiration for digitalization through communicating with employees of the global ...
January 13, 2023
Saudi Arabia bets big on Hallyu with W1.2tr Kakao investment

Saudi Arabia’s state fund decided to join in 1.2 trillion won ($964 million) investment in Kakao Entertainment, doubling down on its aggressive bet on the burgeoning Korean content industry. The company, the entertainment arm of Kakao Corp., said it has raised 600 billion won in financing by issu...
January 13, 2023
SKT, Joby aim to speed up Korean-style UAM

South Korea’s largest wireless carrier, SK Telecom, and US aviation company Joby Aviation said Thursday they advanced a strategic partnership for a boost in the commercialization of Korean-style urban air mobility, or UAM. Joby Aviation recently invited officials from the Ministry of Land, Infras...
January 13, 2023
Naver becomes biggest shareholder in Spain's No. 1 resell platform

In continued efforts to expedite its foray into the global consumer-to-consumer, or C2C, market, e-commerce platform Naver recently became the largest shareholder of Spanish secondhand marketplace Wallapop with an investment worth 75 million euros ($80.7 million), according to industry sources Thur...
January 13, 2023
[KH explains] Apple’s move to ditch Korean displays met with skepticism

Having announced its plans to make more chips on its own, Apple, the world’s largest consumer electronics company by revenue, is now reportedly seeking to use its own displays whose supplies are heavily reliant on South Korea’s Samsung and LG. Bloomberg reported Wednesday that Apple is planning ...
January 12, 2023
[From the Scene] Samsung spurring innovation from Silicon Valley

SRA, where the most advanced tech is developed Just 10 minutes away by car from the DSA headquarters is Samsung Research America, one of the 15 research institutes the Korean tech giant operates in 14 countries. The SRA oversees the conglomerate’s most advanced technologies for the Device eXperi...
January 12, 2023
Samsung to unveil Galaxy S23 on Feb. 1 in San Francisco

Samsung Electronics on Wednesday sent out invites to its annual unpacking event for its new flagship Galaxy devices that will take place in San Francisco at 10 a.m. on Feb. 1. Entitled “Galaxy Unpacked 2023: Share the Epic,” the event will be held in person for the first time in three years sinc...
January 12, 2023
After record earnings, banks feel pressured to lower lending rates

With Woori Bank joining crosstown rivals Shinhan Bank and Hana Bank in lowering lending rates, those hoping to take out loans can breathe a little easier. Woori Bank on Tuesday announced on its website that it is expanding its prime rates --which are applied to credit worthy loyal customers -- for...
January 12, 2023
Hanwha Solutions to invest W3.2tr in US solar energy business

Hanwha Solutions will invest 3.2 trillion won ($2.57 billion) in expanding its solar energy businesses and building additional facilities to complete the manufacturing line in the United States through next year, the South Korean company said Wednesday. The company said it plans to set up a solar ...
January 12, 2023
SK hynix raises $1b via industry’s first sustainability bond

SK hynix, a semiconductor manufacturer under SK Group, announced on Wednesday that it has successfully issued a Sustainability-Linked Bond worth $1 billion, making it the first global chipmaker to do so. SLB is a type of bond with interest rates that are adjusted depending on whether a company's e...
January 12, 2023
[Herald Interview] Yuhan aims for bigger presence in US

By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO – South Korean pharmaceutical giant Yuhan is seeking to increase cooperation with researchers and biotechnology firms based in the US, with hopes to benefit from the nation’s abundant human resources and research opportunities. “Yuhan ...
January 12, 2023
Lotte Biologics pledges $3b to beef up production at home

By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO -- Lotte Biologics will invest around $3 billion by 2030 to build new CDMO plants in South Korea, Lotte Biologics CEO Richard Lee announced during the company’s presentation at the 41st JPMorgan Healthcare Conference held in San Francisco...
January 12, 2023
'Economy will go down the rabbit hole,' survey finds

Concerns over deepening economic slowdown and a bleak outlook for global business conditions, experts predicted that this year the country’s economy would fall deep into a dark and chaotic situation as if it "goes down the rabbit hole." Korea Chamber of Commerce and Industry summarized the opinio...

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