Articles by Im Eun-byel
Im Eun-byel
silverstar@heraldcorp.com-
Sung Kim looks forward to strengthened US extended deterrence commitment in Yoon-Biden summit
US Special Representative for North Korea Sung Kim on Tuesday expressed his expectation that the leaders of the US and South Korea would exhibit their commitments to a stronger extended deterrence against Pyongyang's nuclear threats at an upcoming summit this week. President Yoon Suk Yeol and US President Joe Biden are scheduled to hold a summit at the White House on Wednesday (Washington time), in which they are expected to sign a joint statement on measures to enhance extended deterrence,
Politics April 25, 2023
-
Samsung SDI, GM to build $3 bln EV battery plant in US
Samsung SDI Co. said Tuesday it is pushing to build an electric vehicle (EV) battery manufacturing facility in the United States in a joint venture with General Motors Co. The South Korean battery maker unveiled the plan in a regulatory filing, under which the two companies have agreed to invest more than $3 billion in constructing a plant with an annual capacity of over 30 gigawatt hours (GWh). The location of the plant has not been decided yet, it said. The company aims to commence commercial
Industry April 25, 2023
-
S. Korean economy rebounds as consumer spending picks up
South Korea’s economy showed a slight sign of recovery, with 0.3 percent growth in the first three months of 2023 on the rebound of private consumption as the COVID-19 pandemic wanes. The country’s gross domestic product -- the value of all goods and services created -- grew 0.3 percent in the January-March period, showing signs of recovery from the minus 0.4 percent of the previous quarter. It showed a 0.8 percent increase from the same period of 2022, data from the Bank of Korea sh
Economy April 25, 2023
-
Market cap of listed firms gains 16.4% in 2023
The total market capitalization of listed firms in Korea rose by 16.4 percent this year, an increase of more than 341 trillion won ($256 billion) from the year-end of 2022. As the stock market slowly rebounds, the combined market cap of Korea's benchmark index Kospi and secondary bourse Kosdaq swelled from 2,079.13 trillion won to 2,420.25 trillion won during the period, marking a 16.4 percent increase, or 341.11 trillion won, data from the country’s sole bourse operator Korea Exchang
Market April 23, 2023
-
[KH Explains] Is EcoPro a ‘meme stock’?
Stock prices of South Korean battery materials firm EcoPro and its affiliates have been skyrocketing over the past few months, backed by a retail investor frenzy. EcoPro was previously a little-known stock listed on the tech-laden Kosdaq. But recently it has been arguably the most talked about stock in the local equity market. The group’s shares -- those of EcoPro, EcoPro BM and EcoPro HN, nicknamed the "three brothers" -- have been on a rapid rise as Korean battery firms are e
Market April 20, 2023
-
Market cap of listed firms jumps 14% in Q1
The total market capitalization of listed firms in Korea rose by 14 percent, or 280 trillion won ($212 billion), during the first quarter of 2023, a report by issued by market tracker Korea CXO Institute showed Wednesday. As the local stock market has been on course for a gradual rebound in the first three months of 2023, the total market cap of 2,558 firms listed on the country’s benchmark Kospi and secondary Kosdaq increased by 280 trillion won, from 2,011 trillion won on Jan. 2 to 2,291
Market April 19, 2023
-
Korea extends tax cut on fuel for 4 more months
The Korean government will extend the current tax cut imposed on fuel until the end of August, the Finance Ministry announced Tuesday. Fuel tax reductions -- namely a 25 percent cut for gasoline, and 37 percent cuts for diesel and the liquefied petroleum gas butane -- which were to end in April, will last for another four months, considering the rising prices of oil, the ministry said. The cut pulls down gasoline prices by cutting tax worth 205 won ($0.16) from 820 won to 615 won per liter, di
Economy April 18, 2023
-
China’s reopening has limited impact on S. Korea: BOK
China's reopening has shown limited effects on the South Korean economy, dampening expectations that it would reignite tourism and export industries, a report by the Bank of Korea showed Monday. The trade balance with China, which had been worsening since April last year due to China's lockdowns, failed to make a rebound despite the easing of COVID-19 measures in December, the report said. The trade deficit with China stood at $7.85 billion in the first three months of 2023, following
Economy April 17, 2023
-
BOK chief says don't expect a rate cut 'any time soon'
Bank of Korea Gov. Rhee Chang-yong underlined that is “too early” to discuss a rate cut, issuing a warning on growing expectations that the central bank may start to cut its base rate soon. With the BOK deciding to hold the rate at 3.5 percent for a second consecutive time on Tuesday, market expectations have grown that the rate hike cycle has ended and a pivot on the BOK’s rate stance could come within the year. Rhee, however, drew a line, saying it is premature to discuss a
Economy April 14, 2023
-
Top Korean chaebol leaders to accompany Yoon on state visit to US
Top South Korean chaebol leaders are set to join President Yoon Suk Yeol on his state visit to the US later this month, according to industry sources on Friday. Yoon is set to embark on a state visit to the US for a summit with US President Joe Biden on April 26. Upon Yoon’s visit to the US, the Federation of Korean Industries, one of the nation’s major business lobby groups, plans to arrange a business delegation consisting of some 70 business leaders, including chiefs of the nati
Industry April 14, 2023
-
[Photo News] Snack binge
Economy April 13, 2023
-
Korean businesses remain wary of China’s reopening: survey
Many Korean businesses are unsure about the actual profits that will come from the reopening of the Chinese economy and are maintaining a conservative stance in business expansion, a recent survey by Korea’s top business lobbying organization showed Thursday. In a survey of 440 export-focused manufacturers conducted by the Korea Chamber of Commerce and Industry, 54.4 percent of the respondents said the reopening will not have much effect on their businesses, while 38.2 percent said it wi
Industry April 13, 2023
-
[KH Explains] When will BOK pivot come?
Expectations on a base rate cut is growing as the Bank of Korea kept the benchmark rate steady for a second consecutive time Tuesday. The central bank’s decision to hold the rate at 3.5 percent in light of the eased inflationary pressure strengthened market expectations that the BOK’s rate hike cycle has ended and a pivot on its rate stance could come soon. Some even expect a rate cut to come within the year. “The Bank of Korea's terminal rate will stand at 3.5 percent. It
Economy April 12, 2023
-
BOK freezes rate once again
The Bank of Korea kept the base rate unchanged for a second consecutive time, as inflation appears to be somewhat on the wane while the economy remains slow. The central bank decided to hold the rate at 3.5 percent at its rate-setting meeting on Tuesday, matching market expectations that the BOK's rate hike cycle of 1 1/2 years has come to a halt. “Inflation is projected to continue slowing down although it will remain above the target level for a considerable time. Uncertainties su
Economy April 11, 2023
-
Falling revenue threatens tax cuts
The South Korean government may dial back the scale of tax cuts aimed at curbing inflation, as tax revenue for this year is likely to fall below the estimate. According to the Ministry of Economy and Finance, Korea’s tax revenue amounted to 54.2 trillion won ($41 billion) in the first two months of this year, marking a 15.7 trillion won drop from the 69.9 trillion won recorded in the same period last year. If the tax revenue from March to December is similar to the year before, the total
Economy April 10, 2023
Most Popular
-
1
What is South Korea’s 4B movement?
-
2
Actor Song Jae-rim dies at 39
-
3
Dialogue launches without junior doctors, main opposition
-
4
LG eyes footing in aerospace with possible SpaceX deal
-
5
'Are you a T?' is a new put-down in S. Korea
-
6
Seoul to begin UAM demonstration services in 2025
-
7
Bitcoin hits record in Korea, even without ‘kimchi premium’
-
8
Trump’s return: Boon or bane for K-food?
-
9
[Herald Interview] JobKorea’s Klik brings jobs, community to growing foreign workforce in Korea
-
10
Push for Seoul getting own nuclear arms gains steam after Trump win