Seoul-based content distribution company RNR Inc.’s “Monoplex” is a type of theater where one can watch movies in a designated, personally-optimized space in places such as apartments, hotels, office buildings and more. Monoplex offers a bespoke theater experience which screens movie premieres at the same time as more widely known multiplexes in city centers. Ever since the outbreak of the COVID-19 pandemic, public interest in Monoplexes has surged, according to the company, as

Industry May 29, 2023

Standard Chartered Bank Korea is holding an event for first-time customers who sign up for its Jaeil EZ Account – an occasional deposit and withdrawal account that provides an annual pretax interest rate of up to 3.6 percent even if customers deposit money for just one day. The event, which continues until May 31, offers prizes to a few chosen customers among those who open an account and submit an entry by May 31. One event entry will be additionally counted for every 1 million won ($754)

Market May 25, 2023

Electric vehicle parts maker SK IE Technology has secured a green financing package loan worth $300 million from the International Finance Corp. for its planned production expansion in Poland. Of the total amount, two-thirds will come directly from the IFC, while the remainder will be offered by other private banks participating in the funding program. The newly secured investment will be used for the planned expansion of its lithium-ion battery separator (LiBS) plant in Poland, as part of its e

Industry May 25, 2023

The Korea International Trade Association held a joint conference with the Taiwan External Trade Development Council and Taiwan Chamber of Commerce on Wednesday to discuss ways to boost trade between South Korean and Taiwanese companies. A total of 122 companies, including 27 Korean and 95 Taiwanese companies, participated in the event, called the Korea-Taiwan Import and Export Conference held at the Taipei International Convention Center in the capital of Taiwan. A total of 207 consultations we

Economy May 24, 2023

Battery maker LG Energy Solution said Friday it has signed a deal with Green Technology Metals (GT1), a lithium exploration and development business, as part of efforts to establish a supply chain of critical raw materials for batteries in the North American region. Under the deal, LGES will subscribe to 21,739,130 new shares in GT1 at a price of 0.92 Australian dollars ($0.61) per share, for a total of A$20 million. The subscription price represents 7.89 percent of GT1’s ordinary shares o

Industry May 19, 2023

Canadian multinational coffeehouse Tim Hortons is opening its first outlet in South Korea this year, according to industry sources on Thursday. Known for its 60-year history and Canadian heritage, Tim Hortons has some 5,600 locations in 15 countries, including the US, Spain, Mexico and Thailand. It is also an affiliate under Restaurant Brands International, one of the world’s largest quick-service restaurant companies that also runs other fast food chains Burger King and Popeyes. Tim Horto

Industry May 18, 2023

Earlier in March, McDonald’s Korea held an award ceremony at its headquarters in Jongno-gu, central Seoul, to commemorate the 35th anniversary of its foundation. Dubbed the “Three-legged Stool” award ceremony, the theme of the event was directly inspired by McDonald’s founder Ray Croc’s three-legged stool philosophy, which states that the company’s headquarters, suppliers and franchisees should grow together. The theme also highlighted McDonald’s company

Industry May 18, 2023

TGS Group’s art investment business unit ArtFin signed a memorandum of understanding with The Korea Herald on Monday in a pledge to share Korean art with the world. Through the non-binding agreement, the two companies will cooperate to create a new wave of art investment, nurture a better environment and a bigger market for artists and investors. They will also support Korean artists to enter the global market. They plan to do so by exhibiting, planning and selling artworks, discovering an

Industry May 16, 2023

Investment advisory firm Mavek and multinational software company SAP will jointly host a global semiconductor webinar on June 8, which will shed light on the semiconductor industries in Japan, Korea and Taiwan. Titled “Taiwan, Japan, & South Korea -- Where do they head?” -- the upcoming webinar is the third installment of an ongoing four-part series called “Global Semiconductor Chip Wars & Implications.” The series features speakers from major global institutions

Industry May 12, 2023

South Korean information technology company NHN Corp. on Thursday said its first-quarter operating profit rose 23.1 percent on-year to 19.1 billion won ($14.5 million) mainly owing to steady growth in the revenue of its gaming and payment services. Net income came to 25.6 billion won ($19.3 million), turning from a loss of 4.5 billion won during the first quarter of 2022, according to the company’s regulatory filing. Meanwhile, total sales increased 5.4 percent on-year to 548.3 billion won

Market May 11, 2023

Mirae Asset Securities announced Wednesday that its Singapore branch has officially become the 28th securities trading member of the Singapore Exchange. It is the first Korean financial investment company to do so. As a member, Mirae Asset can now trade various financial products within the Singapore Exchange on behalf of its customers. Other notable members include Credit Suisse Securities, Goldman Sachs Futures and HSBC Securities. “Our trading membership will help us earn trust within t

Market May 10, 2023

Posco International said Wednesday it is planning to secure a 174,000-cubic-meter liquefied natural gas carrier to boost its LNG business value chain. The company signed a long-term charter contract with H-Line Shipping, a Korean shipping firm specializing in domestic ocean transport and ship management services. Posco noted that a self-operating LNG carrier will help manage production, storage, and generation of gas more efficiently. “By solidifying our infrastructure for the obtainment a

Industry May 10, 2023

Posco Group said Tuesday the company transferred the ownership of its completed “sea forest” -- an artificial reef constructed underwater off the coast of Ulleungdo, an island east of mainland Korea -- to Ulleung County, in a bid to celebrate Ocean Arbor Day, which is recognized on May 10 every year in Korea. Built three years ago in Ulleung County, the sea forest is one of Posco’s corporate citizenship activities aimed at restoring the marine ecosystem and reviving the fishery

Industry May 9, 2023

JB Financial Group’s Jeonbuk Bank said Monday it will add 17 more banks to the list of financial institutions in Cambodia that accept real-time money transfers made through the Korean bank. This newest addition brings the total number of such institutions to 49, providing expanded opportunities for customers to make transfers to various banks. “We hope that our unique overseas real-time transfer service will be helpful to our customers who want to make transfers to Cambodia,” J

Market May 8, 2023

Posco International said Thursday it has set a detailed growth strategy for further developing its food business and accelerating its transition into an eco-friendly comprehensive company. Posco International first entered the food business in 2015, where it rapidly grew into one of the largest food companies in Korea. Its latest plan aims even higher – becoming one of the top 10 food companies in the world. “We will tackle the challenge of becoming a major global food company by pro

Consumer May 4, 2023