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The Korea Herald

Economy

June 05, 2024
Act-Geo founder arrives in Seoul to explain oil find

Following the recent announcement that South Korea may have discovered up to 14 billion barrels of oil and gas reserves off its southeastern coast, Vitor Abreu, the owner of Act-Geo, the firm responsible for the discovery, arrived in Seoul on Wednesday to elaborate on these findings. Abreu landed ...
June 05, 2024
[Hello India] Krafton eyes bigger footing in India

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
June 04, 2024
Energy shares rally on potential East Sea jackpot

Stock prices of oil- and gas-related companies extended their gaining streak Tuesday, backed by major oil and gas prospects off the East Coast following President Yoon Suk Yeol’s announcement from the previous day. With the government approving exploratory drilling for a potential 14 billion barr...
June 04, 2024
[KH Explains] Has South Korea really struck oil?

What exactly is a geophysical survey? A geophysical survey is a crucial preliminary step in exploring natural resources. It employs methods like seismic, gravity, magnetic and electromagnetic exploration to indirectly assess the subsurface's structure and composition, akin to taking an X-ray of th...
June 03, 2024
MBK starts sell-off talks for Homeplus Express

Asia's largest private equity firm MBK Partners is to push for the sale of Homeplus Express, a supermarket unit of Homeplus, according to industry officials Monday. Though details of the sales plan have not been released yet, the private equity firm has kicked off the process by selecting Morgan S...
June 03, 2024
Korea bets big on gas, oil prospects in East Sea

South Korea has approved a large-scale project to carry out exploration drilling of potentially massive gas and oil reserves, which could hold up to 14 barrels of gas and oil in the deep sea off the country’s southeastern coast, President Yoon Suk Yeol announced Monday. Yoon highlighted that the ...
June 02, 2024
Korean builders bet big on Rwanda’s fast-growing economy

Korea’s government and industrial groups are upping efforts to nurture new opportunities and support Korean businesses. In April, Korea’s Land Minister Park Sang-woo visited Rwanda as a special envoy for President Yoon Suk Yeol to pave the way for bilateral cooperation in the fields of construct...
June 02, 2024
Korea seeks to bolster ties with Tanzania, key supply chain partner

President Yoon Suk Yeol will hold summit talks with African leaders on June 4 and 5 in Seoul – the first such summit ever among the leaders of all African countries and South Korea. Tanzanian Ambassador to Korea Togolani Edriss Mavura said the upcoming summit is expected to break barriers between...
May 30, 2024
Gyeonggi governor urges sweeping changes to survive uncertainties

Governor Kim, a former finance minister, echoed the ambassador’s view in his special lecture that followed the welcoming speech. “The world's economic order is completely reshaping amid hegemonic war, nationalism and protectionism,” he said. “Korea should see itself within the rapidly changing...
May 29, 2024
Cheap shot? Soju by the glass gets mixed reactions

South Korea widened the range of drinks that restaurants can sell by the glass Tuesday, as drinkers increasingly prefer to consume alcohol in smaller amounts, rather than by the bottle, according to government officials. Previously, restaurants were restricted from selling most types of alcoholic ...
May 28, 2024
S. Korean biz leaders meet with UAE president

Before the meeting took place in the afternoon, some 200 business people and government officials from both countries gathered at the Korea-UAE Business Investment Forum, hosted by the Korea Chamber of Commerce and Industry and the United Arab Emirates Embassy in Seoul, held at the Four Seasons Hot...
May 27, 2024
Korea’s EV investment in Georgia prompts more flights to Atlanta

South Korean companies’ growing investment in Georgia has led to increases in the number of flights and passengers traveling to Atlanta, the capital and most populous city in the state, according to industry sources Monday. “Delta Air Lines saw a significant increase in the number of business tr...
May 27, 2024
Korea ushers in new space era with KASA launch

With the maximum quota of KASA employees set at 293, the new space body began operation with about 110 people, including public officials who transferred from the Science Ministry and elsewhere. The Ministry of Science and ICT reorganized its institutional chart as the space bureaus have been switc...
May 26, 2024
KRX CEO pledges to turn Korea discount into premium

The chief of Korea Exchange, the country's sole bourse operator, vowed Friday to boost the market valuation of companies listed on the local stock market with a seamless backup of the country’s “corporate value-up” directive. During a press conference commemorating his first 100 days in office,...
May 23, 2024
BOK holds rate at 3.5%, ups growth outlook

The Bank of Korea held the base policy rate at 3.5 percent for the 11th consecutive time Thursday, while raising the country’s economic growth rate estimate from the previous 2.1 percent to 2.5 percent. The central bank’s monetary policy board unanimously agreed to keep the key rate at the curre...

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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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