SK Bioscience to supply Novavax’s new COVID-19 vaccine in Korea

SK Bioscience announced Wednesday that the company would supply Novavax's updated COVID-19 vaccine in South Korea, as part of the government’s winter vaccine program running early next year. SK Bioscience's announcement was made after the Ministry of Food and Drug Safety of South Korea gave emergency use authorization for the Novavax COVID-19 vaccine earlier in the day. The Korean government’s approval marks the third of its kind for Novavax’s protein-based updated CO

IndustryNov. 29, 2023

BlockSquare Seoul reads crypto market trends

BlockSquare Seoul, under the wing of its holding company Youth Meta, provides virtual currency trading assistant services based on algorithms powered by artificial intelligence technology. Founded in 2016, the firm’s robo advisor, Goyabot, offers market prediction for some 180 cryptocurrencies, speculating future price movements by using data generated from real-time market monitoring. Goyabot predicts crypto price fluctuations by analyzing buy and sell orders entered on exchanges, trans

CompaniesNov. 29, 2023

[Herald Interview] Decoding crypto through charts

The answers are all out there in the charts for Iron Won, who leads Youth Meta, the holding company of crypto trading service operator BlockSquare Seoul. After a prolonged period of uncertainty in the cryptocurrency market, the crypto winter seems to have come to an end. As market sentiment lightens up, Won has one piece of advice for investors -- to predict market trends by tracking asset movements. “It is nearly impossible for an average person to approach the crypto market, as it is exp

CompaniesNov. 29, 2023

Posco completes Korea’s first lithium hydroxide plant

Posco Holdings said Wednesday that the steel giant has completed the construction of the country’s first lithium hydroxide factory, a move to strengthen its competitiveness in the global lithium race. The new facility is located within the Yulchon Industrial Complex in Suncheon, South Jeolla Province. The plant can annually produce 21,500 metric tons of lithium hydroxide, one of the key components used for batteries for electric vehicles. The plant is owned by Posco-Pilbara Lithium Solutio

IndustryNov. 29, 2023

Seoul shares close tad lower ahead of BOK's rate decision

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

MarketNov. 29, 2023

Hyundai Elevator, Erbud team up to rebuild Ukraine

Hyundai Elevator has joined hands with Erbud, the third-largest constructor in Poland, to cooperate on a reconstruction project in Ukraine, the Korean company said Wednesday. Hyundai Elevator and Erbud signed a memorandum of understanding in Warsaw, Poland, on Tuesday. The signing ceremony was attended by Hyundai Elevator’s Managing Director of Global Sales Division Cho Cheol-ho, Erbud’s Vice President Jacek Leczkowski and other company officials. Erbud specializes in commercial and

IndustryNov. 29, 2023

Samsung promotes execs in 30s, 40s for future growth

Samsung Group's key technology affiliates -- Samsung Electronics, Samsung Display and Samsung SDS, Samsung SDI and Samsung Electro-Mechanics -- on Wednesday promoted a swath of young executives in their 30s and 40s as part of their ongoing efforts to build a foundation for future growth. Samsung Electronics promoted a total of 143 executives in a year-end reshuffle, a decrease from last year’s 183. The total number of executives promoted this year was the lowest since May 2017 marked

TechnologyNov. 29, 2023

Hillstate Gayang flats in Daejeon to go on sale

Some 350 flats at Hyundai Engineering & Construction's new apartment complex, Hillstate Gayang The Wise, located in Gayang-dong, Daejeon, will go on sale in December. The 358 units at the three-building apartment complex range from 84 square meters to 155 square meters. At 49 stories high, Hillstate Gayang The Wise will become the tallest residential building in East Daejeon. Residents are expected to move in starting from next October. The complex is right next to the Daejeon bus termi

IndustryNov. 29, 2023

Yuhan-Kimberly wins first GMP certification for sanitary pads

Yuhan-Kimberly, the country’s leading hygiene product manufacturer, earned the first Good Manufacturing Practice recognition for a sanitary pad manufacturing facility. The firm on Wednesday said its factory in Chungju, North Chungcheong Province, acquired the Ministry of Food and Drug Safety’s GMP accreditation, awarded to manufacturers that meet the authority’s production and quality control standards. The Chungju plant is Yuhan-Kimberly’s manufacturing base for its fema

IndustryNov. 29, 2023

Korean Air orders 20 Airbus A321neo aircraft

Korean Air, South Korea's leading airline, said Wednesday that it has ordered 20 additional Airbus A321neo aircraft, as part of efforts to deliver a modern flight experience to its customers. With the latest order, the total number of its A321neo aircraft has reached 50. The Airbus A321neo is a small-sized, single-aisle airliner with a total of 182 seats. Its eight "Prestige" seat options in business class allow travelers to relax comfortably on a 180-degree fully horizontal sea

IndustryNov. 29, 2023

Hyundai Motor says Expo bid bolstered global partnerships

Hyundai Motor Group, one of the most avid supporters of the ultimately unsuccessful Korean campaign to host the World Expo 2030 in Busan, reports having strengthened its worldwide business opportunities and global partnerships through the campaign-backing efforts across the globe. The Korean government came up short as the country lost to Riyadh, Saudi Arabia in the first round of voting by the members of the Bureau International des Expositions in Paris on Tuesday. Despite the loss, Hyundai Mot

MobilityNov. 29, 2023

KT SAT to integrate Starlink for rapid, robust maritime internet

KT SAT, Korea's sole satellite service provider, announced Wednesday its plan to enhance its maritime communications service by integrating SpaceX's Starlink satellite technology. With this integration, KT SAT aims to address the growing demand for more robust and higher-speed internet at sea, driven by factors such as increased data usage on modern, sensor-equipped ships for optimizing routes and remote technical assistance. Starlink's network promises high-speed, low-latency per

IndustryNov. 29, 2023

Seoul shares start lower ahead of key rate decision

South Korean stocks opened a tad lower Wednesday ahead of the central bank's rate-setting meeting. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.02 points, or 0.44 percent, to 2,510.74 in the first 15 minutes of trading. Overnight on Wall Street, US stocks climbed modestly on a dovish comment by a Federal Reserve official, with the Dow Jones Industrial Average edging up 0.24 percent and the Nasdaq Composite adding 0.29 percent. The Bank of Korea is set to decide on its pol

MarketNov. 29, 2023

Daily Sports Hankook hopes to help stengthen Korea-Indonesia ties through business forum

The Korea-Indonesia Cooperation Forum is all set to take place on Thursday in Jakarta, marking the 50th anniversary of diplomatic relations between Korea and Indonesia. The forum is a significant step toward strengthening cooperation, boosting collaboration, and exploring business opportunities between the two nations. The Korea Herald had an interview with Cho Sung-hyun, the director of the Corporate Planning and Management Division of The Daily Sports Hankook, one of the media partners for t

EconomyNov. 28, 2023

Seoul shares close more than 1% higher on extended Israel-Hamas truce

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio

MarketNov. 28, 2023

Samsung Biologics sees highest-ever annual orders

Samsung Biologics said Tuesday that the company has signed five contract manufacturing deals to bring the total value of its annual orders this year to an all-time high of 3.48 trillion won ($2.7 billion). According to Samsung Biologics’ regulatory filing, the company has recently inked one new and four expanded deals with a pharmaceutical company based in Asia. The five contracts are worth a total of around 761 billion won, the company said. The new CMO deal is worth 589 billion won, and

IndustryNov. 28, 2023

LS Materials to tap deeper into EV, green energy markets

LS Materials, a South Korean energy storage device manufacturer, said on Tuesday the firm will further solidify its presence in sustainable energy and technology markets with the fund it would raise from its upcoming initial public offering slated for next month. As the company prepares to list on the secondary Kosdaq market, it's positioning itself as a pivotal player in emerging green industries, including ultra capacitors and electric vehicles. "We're seeking a third location f

IndustryNov. 28, 2023