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Samsung to Introduce Performance Share Plan for Employees
[Economy] : Samsung Electronics will introduce a performance-based stock unit program, hoping to motivate employees to value long-term performance. According to industry sources on Tuesday, Samsung has informed workers in an internal notice that they will receive Samsung Electronics shares, depending on the ...[more...]
Published: 4 hours ago
Finance Minister to Attend Upcoming G20 Meeting in Washington
[Economy] : Finance Minister Koo Yun-cheol will depart for the United States on Wednesday to attend the Group of 20(G20) Finance and Central Bank Ministerial Meeting as well as the annual meetings of the World Bank Group and the International Monetary Fund(IMF). Koo is scheduled to attend the G20 ministerial ...[more...]
Published: 6 hours ago
Seoul Shares Fall for Second Straight Day
[Economy] : South Korean stocks closed lower for a second consecutive day on Tuesday, and the Korean won weakened, amid continued trade tensions between the United States and China. The benchmark Korea Composite Stock Price Index(KOSPI) fell 22-point-74 points, or zero-point-63 percent, on Tuesday to close at ...[more...]
Published: 6 hours ago
China Sanctions Hanhwa Ocean's US Subsidiaries
[Economy] : China will impose sanctions on Hanwha Ocean's five U.S.-based subsidiaries. Beijing's Ministry of Commerce said in a statement Tuesday that organizations and individuals in China are now prohibited from cooperating or doing business with the South Korean shipbuilder’s five stateside ...[more...]
Published: 8 hours ago
KOSPI Down 0.63% Tuesday
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) fell 22-point-74 points, or zero-point-63 percent, on Tuesday to close at three-thousand-561-point-81. The tech-heavy KOSDAQ lost 12-point-53 points, or one-point-46 percent, to close at 847-point-96. The South Korean won weakened against the U.S. ...[more...]
Published: 8 hours ago
Samsung Electronics Expects Q3 Profit to Reach 3-Year High
[Economy] : Anchor: Samsung Electronics said Tuesday it expects a third-quarter operating profit of more than 12 trillion won, beating analyst expectations, on the back of strong performance from its semiconductor business. Experts say the massive demand for chips used in the training and application of artificial ...[more...]
Published: 8 hours ago
ICT Exports Hit Record High in September
[Economy] : South Korea's information and communications technology (ICT) exports reached a record high in September despite global trade uncertainty. Statistics the Ministry of Science and ICT released on Tuesday showed that ICT shipments totaled 25-point-43 billion U.S. dollars last month, marking the highest ...[more...]
Published: 12 hours ago
Samsung Electronics Expects 32% Rise in Q3 Operating Profit
[Economy] : Samsung Electronics posted a strong operating profit in the third quarter, significantly surpassing market forecasts and marking its highest quarterly figure in over three years. The tech giant announced on Tuesday that its operating profit in the July-September period rose 31-point-eight percent from the ...[more...]
Published: 14 hours ago
Top Office: US Has 'Responded' to Korea’s Revised Tariff Proposal
[Economy] : The United States has "responded" to South Korea's tariff proposal, but trade talks between the two nations are still ongoing. The presidential office told reporters in a notice on Monday that Washington has displayed “a degree of reaction” to the revised financial package Seoul submitted last ...[more...]
Published: 1 day ago
Shares Fall after 3-Day Rally
[Economy] : Stocks snapped a three-day winning streak on Monday amid renewed trade tensions between the United States and China. The benchmark Korea Composite Stock Price Index(KOSPI) fell 26-point-05 points, or zero-point-72 percent, to close at three-thousand-584-point-55 on Monday. Semiconductor shares led ...[more...]
Published: 1 day ago
KOSPI Down 0.72% on Monday
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) fell 26-point-05 points, or zero-point-72 percent, on Monday to close at three-thousand-584-point-55. The tech-heavy KOSDAQ gained one point, or zero-point-12 percent, to close at 860-point-49. The South Korean won weakened against the U.S. dollar by ...[more...]
Published: 1 day ago
FM Cho Hyun: South Korea Reviewing New US Plan for $350 Billion Investment
[Economy] : Washington has presented a new alternative plan for Seoul's pledged investment of 350 billion U.S. dollars, which is now under review. Foreign Minister Cho Hyun said during a parliamentary audit Monday that Seoul had conveyed concerns to Washington that providing the entire amount as direct investment ...[more...]
Published: 1 day ago
Financial Authorities Issue Verbal Warning as Won Tops 1,430 per Dollar
[Economy] : Financial authorities issued a rare verbal warning on Monday after the won briefly surpassed 1,430 against the U.S. dollar for the first time in 18 months. In a statement to reporters, the Ministry of Economy and Finance and the Bank of Korea said they were closely monitoring markets amid heightened ...[more...]
Published: 1 day ago
Exports Fall 15.2% in First 10 Days of October
[Economy] : South Korean exports decreased by more than 15 percent in the first ten days of October compared to the same period of last year. Preliminary figures the Korea Customs Service announced on Monday showed that exports totaled 13 billion U.S. dollars during the cited period, down 15-point-two percent from the ...[more...]
Published: 2 days ago
Moody’s Maintains South Korea’s Credit Rating at Aa2
[Economy] : Global credit rating agency Moody’s has maintained South Korea’s sovereign credit rating at Aa2. A Moody’s team visited South Korea in August, meeting with government ministries and major companies, and released its annual review report on the country last week. Aa2 is the third-highest rating on ...[more...]
Published: 2 days ago
KOSPI up 1.73% on Friday
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) jumped 61-point-39 points, or one-point-73 percent, on Friday to close at three-thousand-610-point-60. The tech-heavy KOSDAQ rose five-point-24 points, or zero-point-61 percent, to close at 859-point-49. The South Korean won weakened against the ...[more...]
Published: 4 days ago
KOSPI Breaks 3,600 Barrier to Highest Ever on Post-Holiday Rally
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) closed above the three-thousand-600 mark for the first time on Friday, as trading resumed after the long Chuseok holiday. The index finished at three-thousand-610-point-60, up 61-point-39 points, or one-point-73 percent, from the previous ...[more...]
Published: 4 days ago
BOK: Global Financial Risks Rose over Chuseok Holiday amid US Government Shutdown
[Economy] : Global financial market risks rose slightly over the extended Chuseok holiday, due in part to the government shutdown in the United States and financial instability in major markets. Ryoo Sang-dai, senior deputy governor of the Bank of Korea, said during a market inspection meeting on Friday that ...[more...]
Published: 4 days ago
Gov't Holds Emergency Meeting over EU Steel Tariff Hike
[Economy] : The government held an emergency meeting to discuss countermeasures following the European Union’s announcement of a new tariff rate quota system and increased steel tariffs. Deputy Minister for Trade Park Jong-won presided over the meeting on Friday with representatives from the steel industry to ...[more...]
Published: 4 days ago
KOSPI Breaks 3,600 Mark for First Time after Weeklong Chuseok Holiday
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) broke the three-thousand-600 mark as it reopened after a weeklong Chuseok holiday. The index broke the three-thousand-600 point threshold shortly after reopening on Friday morning, marking the first time the main bourse surpassed the level. The KOSPI ...[more...]
Published: 4 days ago
S. Korea Analyzes China's Rare Earth Export Curbs
[Economy] : The government is examining China’s new curbs on exports of rare earth metals and related shipments. The Ministry of Trade, Industry and Energy announced Friday that Beijing's recent announcement of its escalated crackdown on rare earths contained a lot of information, and that the government would ...[more...]
Published: 4 days ago
FX Reserves Rise for Fourth Month in September
[Economy] : South Korea’s foreign reserves rose for the fourth consecutive month in September on the back of an increase in foreign currency deposits at financial institutions. The Bank of Korea announced Friday that the nation’s foreign currency reserves stood at 422-point-02 billion dollars at the end of ...[more...]
Published: 5 days ago
Food Prices Jump Almost 23% in 5 Years, Far Outpacing Consumer Inflation
[Economy] : Prices for food and non-alcoholic beverages have surged 22-point-nine percent over the past five years, far exceeding the overall rate of consumer inflation, which was 16-point-two percent, government data showed Tuesday. According to the National Data Agency, fruit prices rose 35-point-two percent, while ...[more...]
Published: 6 days ago
EU to Raise Tariffs on Imported Steel by 50%
[Economy] : The European Union(EU) has announced plans to sharply raise import barriers on foreign steel, mirroring the United States’ recent tariff hikes. Under the new proposal, tariffs on imported steel will climb to 50 percent, while duty-free quotas will be limited to 18-point-three million tons per year based ...[more...]
Published: 7 days ago
140,000 Apartments Offered in First 9 Months, Annual Supply to Drop
[Economy] : Approximately 140-thousand apartments were offered for sale nationwide during the first nine months of the year, with total annual supply projected to fall short of last year's level. According to data released Sunday by market research firm R114, the supply of private apartments, including rental ...[more...]
Published: 1 week ago
Samsung, SK Sign Broad Partnership With OpenAI on AI Infrastructure
[Economy] : Samsung and SK Group announced wide-ranging partnerships with OpenAI as part of the U.S. firm’s plan to build supercomputers and data centers on a global scale. Samsung and OpenAI signed a letter of intent during a ceremony at the conglomerate's headquarters in Seocho District on Wednesday, under ...[more...]
Published: 2 weeks ago
KOSPI Hits All-time High on Major Samsung, SK AI Deals
[Economy] : Anchor: The benchmark Korea Composite Stock Price Index(KOSPI) has hit its highest point in history, breaking the three-thousand-500 mark for the first time ever. The index finished at three-thousand-549-point-21 on Thursday afternoon, driven by a semiconductor boom, interest rate optimism and an ambitious ...[more...]
Published: 2 weeks ago
Hyundai, Kia Post Record US Q3 Sales Despite Tariff Pressures
[Economy] : Hyundai Motor and Kia sold a combined 143-thousand-367 vehicles in the U.S. in September, up 12-point-one percent from a year earlier and the strongest third-quarter performance on record. Hyundai Motor announced Thursday that its sales, including those of Genesis, totaled 77-thousand-860 units, a 12.8 ...[more...]
Published: 2 weeks ago
KOSPI Reaches New Milestone, Closing above 3,500 for First Time
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) closed above the three-thousand-500 mark on Thursday, just two weeks after breaking a record high of three-thousand-400. The KOSPI finished the day at three-thousand-549-point-21, up 93-point-38 points, or two-point-70 percent, from Wednesday’s ...[more...]
Published: 2 weeks ago
KOSPI Up 2.7% on Thursday
[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) rose 93-point-38 points, or two-point-seven percent, on Thursday to close at three-thousand-549-point-21. The tech-heavy KOSDAQ gained eight-point-91 points, or one-point-05 percent, to close at 854-point-25. The South Korean won strengthened against ...[more...]
Published: 2 weeks ago
