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The Korea Herald

Markets

July 29, 2024
Cash-strapped Tmon, WeMakePrice file for court receivership

He estimated that customer losses from Tmon and WeMakePrice total around 50 billion won, primarily affecting travel-related products. To support refunds and recovery efforts, the cash-strapped company is seeking new funding through Qoo10’s overseas capital and by disposing of or using its assets ...
July 29, 2024
LIG Nex1 acquires 60% stake in Ghost Robotics

Korean defense firm LIG Nex1 said Monday that it had acquired a 60 percent stake in Ghost Robotics, a leading US quadruped robot maker, in partnership with Korea Investment Private Equity. LIG Nex1 finalized all investment steps, including approval from the Committee on Foreign Investment in the U...
July 29, 2024
HD Hyundai Marine Solution seals $60m European vessel service deal

HD Hyundai Marine Solution, the ship maintenance unit of HD Hyundai, announced Monday that it has secured a record $60 million maintenance deal with a Euro-based vessel company. The company said it recently signed a Long Term Service Agreement with a European company, without further elaborating o...
July 28, 2024
Qoo10 pressured to secure cash for troubled Korean units

While the nation’s two online shopping platforms Tmon and WeMakePrice struggle with the liquidity crisis, their Singapore-based parent company Qoo10 is said to be securing cash worth about $50 million through an overseas affiliate, according to industry sources Sunday. The new funding scheme repo...
July 28, 2024
Korea should seek out resource opportunities in Mongolia, experts say

While raw materials and rare metals are becoming increasingly significant to the South Korean economy, experts suggest Asia’s fourth-largest economy expand its cooperation on future energy and key mineral sources with Mongolia. Jung Tae-yong, a professor at Yonsei University’s Graduate School of...
July 28, 2024
Shinhan Financial Group to enhance corporate value by 2027

Shinhan Financial Group on Friday unveiled a corporate value enhancement plan detailing specific targets and strategies to boost profitability. According to the plan, the financial giant aims to achieve a 10 percent return on equity, a 50 percent shareholder return rate and reduce its shares by 50...
July 28, 2024
Kia posts record operating profit in Q2

Kia logged another record profit in the second quarter on Friday, driven by an enhanced product mix, higher average selling price and favorable exchange rates. During the April-June period, Kia achieved two new records -- 3.64 trillion won ($2.63 billion) in operating profit and a 13.2 percent ope...
July 26, 2024
Hana chief cleared of severe punishment in DLF crisis

After a four-year legal battle, Hana Financial Group Chairman Ham Young-joo has escaped regulatory punishment imposed for internal control failure involving the misselling of derivatives-linked funds. On Thursday, the Supreme Court upheld the appellate court's decision to cancel the major discipli...
July 25, 2024
Korea unveils tax reform bill to spur economy

South Korea unveiled its tax code revision bill Thursday, featuring a major overhaul of the outdated inheritance tax system and new measures to boost investment and encourage marriage. Featuring tax cuts and incentives, the plan is expected to reduce tax revenue by approximately 4.4 trillion won (...
July 25, 2024
LG Electronics achieves record earnings in Q2

LG Electronics said Thursday it achieved its all-time high quarterly earnings in the April-June period this year, largely buoyed by the solid growth of its home appliance and vehicle component businesses. Sales increased 8.5 percent on-year to 21.7 trillion won ($15.7 billion) in the second quarte...
July 25, 2024
SK hynix Q2 earnings soar to record high on AI chip boom

SK hynix, the world’s second-largest memory chip maker by revenue, said Thursday it logged all-time-high sales of 16.4 trillion won ($11.8 billion) in the April-June period this year, riding on the robust demand for artificial intelligence chips. Reporting the second quarter's earnings, the compa...
July 25, 2024
2nd generation of owner families at mid-level conglomerates owns 33.5% of shares

An analysis of 81 conglomerates categorized as "middle market enterprises" showed Wednesday that the second generation of owner families owns a total of 33.5 percent of company shares. Corporate tracker CEO Score analyzed the shareholding structure of companies with 2 trillion won ($1.44 billion) ...
July 25, 2024
[Business Diplomacy] Korea becomes popular destination for US governors

With an aggressive incentive package, Kentucky also secured investment from SK On. BlueOval SK, the joint affiliate between SK On and US auto giant Ford, is spending $5.8 billion to build a battery plant in the southeastern state. "We provided one of the largest incentive packages in our history. ...
July 24, 2024
Shareholder activism in Korea ‘partial success’: SquareWell

While shareholder activism is yet to take hold in South Korea with only a handful of initiatives making it past the vote, activist investors are gaining traction, according to London-based shareholder advisory firm SquareWell Partners. According to the firm's recent report, Korean firms are increa...
July 24, 2024
KIAT to support tech firms with regulatory sandbox

Korea Institute for Advancement of Technology is collaborating with the Ministry of Trade, Industry and Energy to bolster financial and direct investment support for companies approved under their collaborative regulatory sandbox. On Wednesday, KIAT hosted the first Investor Relations Day event fo...

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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
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