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The Korea Herald

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Industrials

Feb. 6, 2025
Despite strong 2024, Shinhan Financial’s profit dips in Q4

Shinhan Financial Group, one of South Korea’s top four financial service providers, reported a sharp decline in profit in the last three months of 2024 on Thursday, citing increased expenses from trading and management that ate into its margins. The finance giant recorded over 4.5 trillion won ($3.1 billion) in yearly net profit in 2024. Shinhan Financial Group posted 473.4 billion won in fourth-quarter net profit, down 63.5 percent on-quarter. Compared to the same period in 2023, profit decline
Feb. 6, 2025
Use of facial recognition grows in Korean finance, with Toss in lead

Facial recognition is gaining traction in South Korea’s finance sector, with fintech giant Toss at the forefront of efforts to bolster security amid the rise of mobile finance. Viva Republica, operator of the mobile finance platform Toss, is rolling out its facial recognition service in partnership with online ticketing platform Interpark Triple and K-pop powerhouse Hybe this month. Toss' "Face Pass" technology will be used for identity verification at boyband TWS' fan meeting, allowing attendee
Feb. 6, 2025
HiteJinro breaks ground on first overseas soju plant in Vietnam

HiteJinro announced Thursday that it has officially kicked off construction of its first overseas soju production facility at the Green i-Park industrial complex in Thai Binh province, Vietnam. The new plant is expected to serve as a key manufacturing and distribution hub for the global market, while also acting as a strategic base for expanding the reach of its Jinro brand. The groundbreaking ceremony on Wednesday was attended by some 160 guests, including HiteJinro CEO Kim In-kyu, HiteJinro ov
Feb. 6, 2025
BBQ launches strawberry-themed afternoon tea set for Valentine’s Day

Korean chicken giant BBQ Chicken is marking Valentine’s Day with limited-time strawberry-themed afternoon tea sets at its flagship store, BBQ Village Songnidangil. The Songnidangil location has launched the "Love in London" campaign, featuring a British-inspired afternoon tea set, strawberry desserts and a special strawberry beer. The promotion runs through April 30. The afternoon tea set, priced at around 20,000 won ($13.83) per person, includes strawberry macarons, dacquoise, mille-crepe cake,
Feb. 6, 2025
Korea Zinc marks 100 straight quarters of sales growth

Korea Zinc, the world’s largest zinc smelter, logged its 100th consecutive quarter of sales growth in the last three months of last year, hitting a major milestone despite global economic headwinds, it said Thursday. The firm recorded sales of 3.44 trillion won ($2.38 billion) and an operating profit of 132.8 billion won on a consolidated basis in the fourth quarter of last year. Sales increased by 42.6 percent compared to the same period of the previous year. Its operating profit, however, decr
Feb. 6, 2025
Top hotel chains eye Hilton Seoul redevelopment

Major hotel franchises are vying to operate a new hotel to be launched as part of the Millennium Hilton Seoul redevelopment project, betting on the site’s lucrative potential. While the redevelopment project involving the former Millennium Hilton Seoul site near Namsan and Seoul Station is underway, led by local real estate asset manager Igis Asset Management, top global hotel operators have submitted letters of intent to run the redeveloped hotel, industry sources said Thursday. Each chain has
Feb. 5, 2025
Taihan Cable & Solution hits W3tr in sales on overseas growth

South Korean electric wire and cable maker Taihan Cable & Solution announced Wednesday that its sales for last year are estimated to have reached 3.28 trillion won ($2.2 billion), a 15.4 percent increase from around 2.84 trillion won in 2023. These figures mark the first time since 2011 that the company has exceeded 3 trillion won in annual revenue. Operating profit rose 43.6 percent on-year to 114.6 billion won from 79.8 billion won, while net income amounted to 73 billion won. Taihan Cable & S
Feb. 5, 2025
AmCham chief joins promotion committee for APEC CEO Summit

The American Chamber of Commerce in Korea announced Wednesday that Chair and CEO James Kim has been appointed as a member of the promotion committee for this year’s Asia-Pacific Economic Cooperation CEO Summit. The 2025 APEC CEO Summit, set for Oct. 28-31 in Gyeongju, North Gyeongsang Province, will serve as a key platform for global business leaders, policymakers and thought leaders to exchange insights on pressing economic challenges and emerging industries such as energy transition, digital i
Feb. 5, 2025
Why Trump's tariffs are a boon, not a blow, for Hyundai, Kia

US, Japanese rivals more likely to be affected by new tariffs on Canada, Mexico Hyundai Motor Company and Kia may end up benefiting from the US government’s 25 percent tariffs imposition on Canada and Mexico as the Korean automakers’ competitors are projected to endure more damage from the tariffs, according to auto industry analysts and experts Wednesday. S&P Global Mobility reported that the US imported some 3.6 million light vehicles from Canada and Mexico in 2024, which accounted for about 2
Feb. 5, 2025
MapleStory drives Nexon's community initiatives

Nexon Foundation is expanding its social contribution efforts beyond gaming, using its flagship game MapleStory to support pediatric medical care, coding education and community development, the company said Wednesday. “We believe gaming can be a powerful tool for social good,” a Nexon official said. “As one of Nexon’s longest-running and most beloved games, MapleStory has become a platform for meaningful community initiatives that extend beyond the screen.” Game-powered philanthropy One of Nexo

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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