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The Korea Herald

Economy

May 23, 2024
South Korea unveils W26tr support program for chip industry

South Korean President Yoon Suk Yeol on Thursday unveiled a national support program worth 26 trillion won ($19 billion) to boost the country's semiconductor industry, in a move to up its game amid the global competition. The comprehensive chip support package includes financial programs, research...
May 22, 2024
Digital Marketing Summit 2024 explores marketing roles in heightened AI era

However, there are also several aspects that marketers should be concerned about when using AI as their tool for marketing. During the AI transformation, the role of marketers will be significantly changed, and they will have to be adequately adjusted to changes, experts noted. Kumar said that mar...
May 20, 2024
K-water CEO shares tech knowhow at UN meeting

Korea Water Resources Corp. or K-water, CEO Yun Seog-dae recently attended a UN meeting to share the state-run agency’s technological know-how to tackle the water crisis. According to the agency on Monday, Yun delivered a keynote speech at the UN’s High-level Experts and Leaders Panel on Water a...
May 20, 2024
Chinese e-commerce sales slow in April amid safety concerns

Chinese e-commerce platforms, including the big three AliExpress, Temu and Shein, suffered a more than 40 percent fall in sales in April, possibly hit hard by consumer concerns over product safety. According to a Monday report by BC Card, the nation’s largest payment processing company, payments ...
May 17, 2024
Seoul sees further jump in cost of dining out

The price of five out of eight major dishes at local eateries in Seoul increased again in April, as the cost of eating out continues to rise in the nation's capital. The Korea Consumer Agency, an affiliate of the Korea Fair Trade Commission, compiles the monthly average prices for eight major dini...
May 16, 2024
[Herald Interview] For US overnight stockbroker Blue Ocean, golden hour falls on Sunday 8 p.m.

For Blue Ocean ATS, a broker platform that facilitates overnight trading for the US stock market, Sunday night is the peak trading hour as South Korean investors flock to execute orders before the US day trading begins. “Sunday night is our biggest night when it is Monday morning for the Asian in...
May 16, 2024
KITA, FKI chiefs call for mutual benefit from US investment

In a meeting with US Senator Brian Schatz and US representative Mike Kelly, the FKI chairman asked for their support to prevent Korean companies from being treated unfavorably in terms of subsidies or regulations so that their investments can lead to the success of the US economy and produce mutual...
May 14, 2024
Korea eyes leadership in advanced air mobility standardization

South Korea took the initiative to lead standardization in the global advanced air mobility sector as it launched the Global Association for Advanced Air Mobility, or G3AM, in Seoul on Tuesday. According to the Ministry of Science and ICT, the G3AM is the world’s first global association for AAM ...
May 12, 2024
Loans of self-employed swell 50% in four years

The reliance on bank loans among self-employed South Koreans has surged considerably since the onset of the pandemic, with the overall loan volume and the default rate rising steeply in the past four years. According to data from the nation's major credit ratings firm Nice, provided to Rep. Yang K...
May 10, 2024
Science Ministry expresses regret over Japan’s pressure on Naver

The Science Ministry on Friday expressed regret over the Japanese government’s pressure on Naver to shed its ownership stakes in the popular messaging app Line, hinting at "strong and stern" measures if necessary. “The Seoul government's firm position is that we’ll ensure Korean companies, incl...
May 10, 2024
Bithumb to pay W40b taxes for crypto airdrop winners

Korea's major cryptocurrency exchange Bithumb said Friday that it will cover all the 40 billion won ($30 million) of taxes imposed on the winners of its crypto airdrop events. According to Bithumb, some 10,700 users were slapped with a combined 20 billion won in taxes last year for their compensat...
May 10, 2024
Financial regulator to complete short selling probe this year

South Korea's chief financial regulator, Financial Supervisory Service Governor Lee Bok-hyun, said the agency plans to conclude its ongoing investigation into illegal short selling by the end of the year. He made the statement during a meeting with a group of reporters on Thursday. "We've complete...
May 09, 2024
Yoon doubles down on repeal of financial investment income tax

President Yoon Suk Yeol on Thursday has expressed a strong willingness to rescind the introduction of capital gains taxes on financial investment incomes, asserting the legislation would bring massive outflow of funds from the country’s capital market. “Not only is the understanding of 14 millio...
May 09, 2024
Minister says chip subsidy a ‘tall order’

Countries have been rolling out competitive subsidy programs to boost their edge in the critical semiconductor industry. For South Korea, it is difficult to come up with such direct support programs, but the government is working to create an environment to benefit long-term investment in the sect...
May 08, 2024
Over 80,000 millionaires, 20 billionaires in Seoul: report

There are over 80,000 individuals with wealth exceeding $1 million residing in Seoul, making it the 19th city in the world with the highest number of millionaires, a recent study found. Around 82,500 residents in Seoul have wealth exceeding $1 million as of December, according to the “2024 World’...

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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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