December 07, 2021

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EDITOR'S PICKS

• Markets 
  

  SK, Swedish PEF chiefs discuss future industries investment

  　SK Group Chairman Chey Tae-won met with Conni Jonsson, founder and chairperson of Swedish private equity firm EQT Partners, and discussed expanding ties on future industries, such as green energy and health care, officials said on Dec. 5. 　In the meeting held on Dec. 3 in Seoul, Chey told Jonsson about the conglomerate’s efforts in reducing carbon emissions, improving transparency in governance and creating both economic and social values, they said. 　“South Korea is a leader in

• Markets 
  

  Firms delay return to office, send meal kits for year-end dinners as omicron spreads

  　A rapidly spreading fear over the omicron variant of the coronavirus has forced big corporations in South Korea to adopt stricter in-office quarantine guidelines again and restrict overseas business trips, casting a shadow over their business plans for next year. 　An increase in confirmed omicron variant infections has pushed the South Korean government to tighten its eased quarantine rules under their ‘living with COVID-19’ scheme, which kicked off Nov. 1. Starting Dec. 6, the nu

• Markets 
  

  [ESG Talk] Implant basic principles of ESG, competitiveness in 2022

  　Companies are facing a stricter and more standardized ESG business environment. Recently, the Korean state-run bodies have released the K-ESG guidelines, or guidelines for domestic players to abide by. As 2021 ends, reputable ESG rating agencies are publishing ESG scores in Korea. One of the most famous rankers globally is MSCI, and its ESG ratings recently added the new climate change section as part of their rating systems. The newly included “Implied Temperature Rise” element tra

• Markets 
  

  [MARKET EYE] Rider shortage driving up cost of your order

  　Food delivery apps saw their users decline after South Korea entered the first phase of the “living with COVID-19” scheme last month. 　But amid growing competition and a push by delivery apps for “one order per trip” to promise a speedy service, a delivery rider shortage is likely behind the rising cost of your order, industry sources said. 　According to IGAWorks’ mobile index, Android phone users who used delivery apps Baemin and Yogiyo dropped by 8.9 and 7.5 p

• Markets 
  

  High earners report 19% asset increase in pandemic-hit 2021

  　High-income households in South Korea -- those who earn between 70 million won ($59,000) and 120 million won before tax annually -- saw their assets increase by 19 percent, or 150 million won on average, fro+m last year, a study showed on Dec. 5. 　According to the study conducted by Woori Financial Research Institute, which is run by Woori Financial Group, its 4,000 clients classified as “mass affluent” saw their assets rise to 917 million won on average. The size of debt on averag

• Markets 
  

  SK Group retains CEOs, delays decision on chairman’s brother

  　SK Group, the nation’s third-largest conglomerate, seems to be opting for  stability rather than drastic changes in its year-end executive reshuffle, retaining all the CEOs at its key affiliates. 　While maintaining the top brass, 133 new executives are receiving promotions, the largest class in the past three years, in an apparent move to add weight to its new growth engine businesses that are still in their nascent phases with the potential to lead the group’s future. 　&ld

• Markets 
  

  [Herald Interview] Do you have a best friend at the office? Human connection crucial for work efficiency, says behavioral scientist

  　After COVID-19 forced many aspects of our lives to become more isolated, the world is making a gradual move to return to how we used to be. Commuting to work has resumed and team lunches have been revived, although people still wear their masks and transparent acrylic panels have been erected between people at the tables. 　Although South Korea kicked off its “living with COVID-19” scheme with eased social distancing rules on Nov. 1, still today many are suffering from social isola

• Markets 
  

  #2nd urea crisis? Four metals China can weaponize against EV battery firms

  　The ongoing urea solution shortage in South Korea is just the trailer. The real movie hasn’t even started yet. 　China can always send another wave of supply chain crises to Korea, and next time, the electric vehicle battery industry could be the target. 　According to Hana Financial Investment Thursday, electric vehicle batteries manufactured in South Korea by LG Energy Solution, Samsung SDI and SK On are heavily dependent on Chinese metals. 　“The three companies source 71 perc