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The Korea Herald

Economy

August 01, 2024
Overdue wages hit all-time high in H1: data

South Korea recorded an accumulated over 1.04 trillion won ($764 million) in overdue wages in the first half of this year, marking the highest-ever figure in either half of a year, government data showed Thursday. It marked the first time that overdue wages across the country had surpassed 1 trill...
July 31, 2024
Korean Intellectual Property Office chief vows bold steps to safeguard export innovations

The Korean Intellectual Property Office is accelerating global efforts to enhance intellectual property rights for Korean export companies. At the recent World Intellectual Property Organization General Assembly, KIPO engaged in bilateral meetings with representatives from 10 countries. KIPO Commi...
July 31, 2024
Global IP alliances propel Korea’s patent office to new heights

KIPO is also enhancing infrastructure for intellectual property in major cities. On July 12, it held an opening ceremony for the European IP center in Frankfurt, Germany. This event marked the launch of the revamped regional European IP-Desk, restructured this year to provide faster support to Kor...
July 30, 2024
[Business Diplomacy] As Trump targets EVs, Hyundai-Kia shifts gears to hybrids

Last year alone, Korean battery companies received about 1.3 trillion won ($9.4 billion) in IRA tax credits. Excluding the IRA tax credits, LG Energy Solution reported an operating loss of 252.5 billion won in its second-quarter earnings report last Thursday. SK On could have accumulated more than ...
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 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
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...
July 24, 2024
[Herald Interview] Investing in cows: how it works, where it's headed

Building value chain Stockeeper aims to boost investor support by developing a comprehensive value chain that covers every stage, from cattle birth to sale. With the Bankcow platform focused on raising calves, the operator has recently expanded into the distribution market by opening a processing...
July 22, 2024
Biden's withdrawal sparks mixed outlook for Kospi

Analysts here took a mixed view on how US President Joe Biden’s withdrawal from the November presidential race would affect South Korean shares, with growing uncertainty expected to hurt investor sentiment. Some brokerages expected the benchmark Kospi index to dip below the 2,650 level due to hei...
July 22, 2024
Hanwha-HD Hyundai rivalry shifts to US warship maintenance

Hanwha Ocean plans to use the Philadelphia-based Philly Shipyard in the US, which it had acquired jointly with the conglomerate’s defense subsidiary Hanwha Systems for $100 million last month. Hanwha’s announcement came 11 days after HD Hyundai Heavy Industries became the first Korean shipbuilde...
July 22, 2024
Record-high college graduates not working or looking for jobs

The number of South Koreans without a job or seeking a job marked an all-time high in the first half of this year, government data showed Sunday. According to Statistics Korea, there were 4.058 million people in the country with a college degree who were considered an "economically inactive popula...

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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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