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The Korea Herald

Markets

July 11, 2024
BOK maintains key rate at 3.5% but hints at cut

The Bank of Korea kept its benchmark interest rate unchanged at 3.5 percent for the 12th consecutive time Thursday, while implicating a rate cut if the current path of disinflation continues. The central bank has maintained the rate at 3.5 percent for over one and half years, since Jan. 13, 2023. ...
July 11, 2024
S. Korea appeals tribunal order to pay $32m to US hedge fund

South Korea has filed an appeal against a ruling by a Hague-based arbitration court ordering it to pay $32 million to a US hedge fund to compensate for its intervention in the merger of two Samsung affiliates in 2015, the Justice Ministry said Thursday. The appeal to the ruling by the Permanent Co...
July 10, 2024
HD Hyundai Samho extends berthing capacity for new orders

HD Hyundai Samho, a shipbuilding division of HD Hyundai, said Wednesday it extended its vessel berthing facility to accommodate rising orders for high-value, eco-friendly ships. The company held a ceremony to celebrate the completion of its second dolphin quay earlier in the day at its shipyard in...
July 10, 2024
LS invests $681m to build largest submarine cable plant in US

LS Cable & System on Wednesday announced its plan to invest $681 million to build the largest submarine cable manufacturing plant in the United States. According to the announcement, the new facility will be in Chesapeake, Virginia. LS GreenLink USA, a US subsidiary of LS Cable & System, will brea...
July 10, 2024
Hyundai Rotem renews K2 supply consortium with Poland

Hyundai Rotem has renewed a consortium agreement with Poland's state armament group PGZ to carry out the production and delivery of K2PL, the Polish variant of Hyundai Rotem's K2 Black Panther tank, the Korean company said Wednesday. The renewed contract has laid out the foundation for the two sid...
July 10, 2024
[Herald Interview] TIAA-owned asset manager eyes Korean investors’ appetite for alternative assets

Nuveen, the investment manager of the US Teachers Insurance Annuity Association with $1.2 trillion in assets under management, is seeking to broaden its investor base in the Korean market from big institutions to retail investors by launching funds to invest in unlisted medium-sized companies. Ret...
July 10, 2024
Hanwha Aerospace inks W1.4tr arms deal with Romania

Hanwha Aerospace has secured a 1.4 trillion won ($1 billion) arms contract with Romania to export 54 units of the K9 self-propelled howitzer and 36 units of the K10 ammunition resupply vehicle, the Korean defense firm said Wednesday. According to Hanwha Aerospace, the delivery of the arms machiner...
July 09, 2024
Trump's return would fuel volatility for Korea

South Korea’s financial market would likely face higher volatility if former US President Donald Trump were to return to the White House, as he would trigger another push for deglobalization, local brokerage house KB Securities’ research chief said Tuesday. “If Trump wins the upcoming president...
July 08, 2024
Hana Financial to nurture fintech talents for digital innovation

Hana Financial Group kicked off its financial technology talent nurturing program, “Hana Digital Power On,” Monday, aiming to strengthen digital innovation in the finance sector. Marking its third year, the program seeks to train young talents to develop tech solutions for the financial industry...
July 08, 2024
Samsung, SK bet big on glass substrates for AI chips

South Korea’s top chip makers Samsung Electronics and SK hynix are betting big on glass substrates, a “game changer” in chip making that could drastically boost the data capacity and speed of semiconductors in the era of artificial intelligence. With its high heat resistance and flatness, glass...
July 08, 2024
[Business Diplomacy] Importance of tracking money in politics

The United States and its capital, Washington, DC, have one of the biggest lobbying sectors in the world. Hilary Braseth, executive director of OpenSecrets, a Washington DC-based nonprofit organization specializing in tracking and publishing the money flows in politics, says transparency is integra...
July 08, 2024
Hyosung wins W330b transformer order from Norway

South Korea’s Hyosung Heavy Industries said Monday it secured a 330 billion won ($240 million) deal to supply 420-kilovolt high-voltage transformers to Norway’s electricity agency Statnett. The project aims to expand infrastructure for renewable energy and replace aging facilities in phases by 2...
July 08, 2024
Eximbank to finance $150m for UAE solar power project

The state-run Export-Import Bank of Korea said Monday that it will provide $150 million in project financing for a major solar power generation project in the United Arab Emirates, the first of such to be undertaken by South Korea. This financial procurement comes after the state-owned Korea Weste...
July 07, 2024
Trusts of wills: Banks vie for W100tr inheritance market

100-trillion-won market As Korea faces significant population aging, the market for will-substitute trusts, among various wealth management services, is rapidly expanding. By next year, the nation is expected to become a superaged society, with those aged 65 or older comprising 20 percent of the ...
July 05, 2024
FSC chief nominee vows to keep tight rein on household debts

First Vice Finance Minister Kim Byoung-hwan, the nominee to head the Financial Services Commission, said he must put in all efforts to bring down the fast growth of household debts on Friday. Kim, a 53-year-old macroeconomics expert, was tapped to the post to lead the country's top financial polic...

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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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