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ICT exports up 12% in Oct. on AI server chips
South Korea's exports of information and communication technology products rose 12.2 percent in October from a year earlier, data showed Thursday, helped by robust shipments of semiconductors for artificial intelligence servers. Outbound shipments of ICT products reached $23.3 billion last month, according to data compiled by the Ministry of Science and ICT. It marks the highest export volume for any October. Imports, meanwhile, fell 2.9 percent over the period to $12.9 billion, resulting in a t
Nov. 13, 2025 -
Samsung Electronics' new business support division launches M&A team: sources
Samsung Electronics' newly launched business support division has created a team dedicated to merger and acquisition projects, industry sources said Thursday, raising expectations the South Korean tech giant will speed up efforts to pursue new takeover deals. According to the sources, Samsung Electronics' business support division, which kicked off last week by reorganizing a task force launched in November 2017 after Samsung Group closed its Future Strategy Office, has formed a separate team fo
Nov. 13, 2025 -
Seoul shares open higher on imminent end to US govt. shutdown
Seoul shares opened higher Thursday as the US House of Representatives voted to end the record-long government shutdown, lifting investor sentiment. The benchmark Korea Composite Stock Price Index rose 6.21 points, or 0.15 percent, to 4,156.60 in the first 15 minutes of trading. The Korean financial market opened an hour later than usual at 10 a.m. due to the nationwide college entrance exam. Overnight, US stocks closed mixed, with the Dow Jones Industrial Average rising 0.68 percent and the tec
Nov. 13, 2025 -
BGF Retail opens 1st CU convenience store in Hawaii
BGF Retail Co., the operator of the CU convenience store chain, said Thursday it has opened its first CU outlet in Hawaii as part of its global expansion strategy. In May, the company established a local subsidiary and signed a master franchise agreement with CU Hawaii LLC, a new entity created by local firm WKF Inc. Under the master franchise deal, the master franchisee is granted the right to not only open franchise units in a designated area but also sub-franchise them to third parties. The n
Nov. 13, 2025 -
Samsung to release trifold smartphone next month
Samsung Electronics Co. will release its new trifold smartphone next month, industry sources said Wednesday, with its price tag expected to be around 4 million won ($2,720). According to the sources, the Korean tech giant will hold a launch ceremony for the trifold smartphone on Dec. 5 and begin domestic sales. The new model is designed to fold twice in three sections, offering a tablet-sized 10-inch display when fully unfolded while maintaining the portability of a standard smartphone when clos
Nov. 12, 2025 -
Possible monetary policy shift depends on data: BOK chief
Bank of Korea Gov. Rhee Chang-yong said Wednesday that the central bank will continue its monetary easing cycle but the scope and pace of any future rate cuts, as well as a possible policy shift, will depend on incoming economic data. Rhee made the remarks in an interview with Bloomberg TV in Singapore, which was interpreted as hawkish and pushed the yield on 10-year government bonds to the highest level in 16 months. "Given the negative output gaps, our official position is that we will maintai
Nov. 12, 2025 -
Living in Korea? Kakao Pay just made payments easier for foreigners
Kakao Pay has rolled out a new feature called “Global Home,” designed specifically for foreign residents in Korea to make mobile payments and transfers, and to make everyday financial management easier. The mobile payment firm said Wednesday that the new interface addresses long-standing pain points foreign users face when navigating the Korean-language app, streamlining access to the most-used services and adding multilingual support. The launch targets a growing demographic. As of 2024, 2.65 m
Nov. 12, 2025 -
Seoul shares up for 3rd day on eased US shutdown woes
Seoul shares closed higher Wednesday for the third consecutive session, driven by eased concerns over the longest-ever US government shutdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 44 points, or 1.07 percent, to close at 4,150.39. Trading volume was moderate at 327.08 million shares worth 15.43 trillion won ($10.5 billion), with gainers far outnumbering decliners 785 to 118. The main index opened lower on losses in technology stocks but r
Nov. 12, 2025 -
ASML opens major Korea base to deepen ties with Samsung, SK hynix
Dutch chip equipment maker ASML on Wednesday opened a major new manufacturing base in South Korea, expanding its manufacturing and training operations in the country as it seeks closer cooperation with Samsung Electronics and SK hynix in advanced chipmaking. Traveling to Korea on an official business trip for the first time since taking office in April 2024, ASML CEO Christophe Fouquet attended the opening ceremony of the company's new Hwaseong campus in Gyeonggi Province and met Samsung Electro
Nov. 12, 2025 -
Are dividend tax perks another gift to the wealthy?
The government appears to be cementing its stance on dividend taxation, setting the top rate at 25 percent, lower than the initially proposed 35 percent that sparked investor backlash. On Sunday, the government and ruling party agreed on the need to encourage dividend payouts to help boost the local stock market, signaling that a long-debated tax reform may be nearing its conclusion. Still, the controversy is far from settled, with questions remaining over whether the lower top rate will truly b
Nov. 12, 2025 -
South Korea weighs raising retirement age to 65 amid labor-business divide
As South Korea’s ruling Democratic Party of Korea steps up to raise the statutory retirement age from 60 to 65, debate is intensifying over how the move could reshape the nation’s labor market, with the business community warning of higher costs and shrinking job prospects for young workers. Raising the retirement age to 65 was one of President Lee Jae Myung’s key campaign pledges, aimed at addressing Korea’s rapidly aging population and delayed pension payouts. The Democratic Party has vowed to
Nov. 12, 2025 -
Will Hyundai’s Georgia training center meet US demand for local talent?
Just over two months after a US immigration raid on Hyundai Motor Group and LG Energy Solution’s joint battery plant in Georgia, the Korean automaker moves to reinforce its commitment to local workforce development, opening a training center in the same state as part of its $12.6 billion investment pledge. The 26,700-square-meter Hyundai Mobility Training Center of Georgia, launched last week, will be the core facility for Hyundai Motor Group Metaplant America and its five affiliates, training o
Nov. 12, 2025 -
Shinsegae chief takes Alibaba JV board to jumpstart online revival
Shinsegae Group announced Tuesday that Chair Chung Yong-jin has been named to lead the board of Grand Opus Holdings, a joint venture between Shinsegae’s Gmarket and Alibaba Group’s AliExpress Korea, in a bid to boost synergy in both domestic and global e-commerce markets. The 50-50 joint venture between the two groups’ e-commerce units officially launched in September, subject to Fair Trade Commission conditions such as limits on consumer data sharing in the online cross-border market. “Chung’s
Nov. 12, 2025 -
Posco bets $830 million on lithium to secure battery future
Korea’s Posco Holdings is doubling down on lithium despite a market downturn, investing a total of $830 million in Australia and Argentina to lock in long-term supply and cost competitiveness for its fast-growing battery materials business, according to the firm on Wednesday. The move — which includes a $765 million direct mining stake in Australia’s Mineral Resources and a $65 million acquisition in Argentina’s Hombre Muerto salt lake — shows the Korean steelmaker’s determination to secure raw
Nov. 12, 2025 -
Hana Financial to invest W4tr in advanced industries
Hana Financial Group said Wednesday it will invest 4 trillion won ($2.72 billion) over the next four years to foster an advanced industrial ecosystem, as part of its push to expand “productive finance,” a policy-driven initiative to channel capital into sectors that create real economic and technological value. During a management workshop attended by Chair Ham Young-joo and other executives, the group highlighted the early launch of the “Hana All Growth K-Future Strategic Industry Venture Fund”
Nov. 12, 2025