Global banks lift Korea growth outlook to 3.5% on chip boom

Global investment banks revised up their forecasts for South Korea's economic growth this year and next, as a semiconductor export boom strengthens the outlook. Eight major global investment banks projected average growth of 3.5 percent for this year at the end of September, up from 3.3 percent a month earlier, according to figures released Wednesday by the Korea Center for International Finance. JPMorgan raised its estimate to 4 percent from 3.8 percent, the highest among the eight banks. UBS l

Oct. 7, 2026

AMD’s Lisa Su calls chips ‘team sport’ as Samsung, SK hynix ties deepen

AMD Chair and CEO Lisa Su put Korean AI chips at the center of partnership talks in Seoul on Wednesday, exploring how they could work alongside AMD processors in systems built for global markets. In meetings with Second Vice Science Minister Ryu Je-myung and executives from 13 Korean AI companies, Su discussed pairing AMD’s CPUs and GPUs with Korean neural processing units designed for AI inference. Demonstration projects in Korea would test the systems to develop a blueprint for overseas deploy

Oct. 7, 2026

Daewoo E&C denies rushed Gadeokdo airport approval

A Daewoo Engineering & Construction-led consortium on Wednesday rejected claims that technical problems were overlooked in the approval of Gadeokdo New Airport’s ground improvement design, saying the issues had been disclosed and corrective measures incorporated. The response followed a local media report alleging that the Ministry of Land, Infrastructure and Transport rushed approval despite problems found during offshore tests of plastic board drains. The drains are inserted into soft soil to

Oct. 7, 2026

Paris Baguette eyes US expansion after Paran Label’s Singapore debut

Paris Baguette has rolled out its health-focused Paran Label range across all 28 Singaporean stores, marking its first overseas expansion as the bakery chain prepares to take the line to other markets, including the US. The rollout follows a February pilot at its Paragon outlet. Seven items — five bakery products and two sandwiches — are now available across the Singapore network. Paris Baguette said average sales over 30 days following the rollout rose 57 percent in the sliced bread category an

Oct. 7, 2026

Nuri rocket lifts off on fifth mission with 15 satellites aboard

South Korea’s homegrown Nuri rocket lifted off Wednesday on its fifth mission, carrying 15 satellites toward a sun-synchronous orbit about 575 kilometers above Earth. The three-stage rocket, also known as KSLV-II, blasted off at 12:25 p.m. from the second launch pad at the Naro Space Center in Goheung, South Jeolla Province. On its way to the target orbit, Nuri is to separate its first stage, payload fairing and second stage in sequence before deploying the satellites. The rocket is carrying fiv

Oct. 7, 2026

Samsung's Q3 profit seen jumping nine-fold, but chip margins may be flat

Samsung Electronics is expected to report a nearly nine-fold jump in third-quarter operating profit, driven by robust AI ‌demand, though analysts have cut forecasts by nearly 8 percent since the end of August. Despite moderating gains in the prices of memory chips and a strengthening South Korean won, the world's largest memory-chip maker is expected to post operating profit of 106.1 trillion won ($79.1 billion) for the July-September quarter. The LSEG SmartEstimate, based on ‌forecasts from 21

Oct. 7, 2026

Korea to strengthen food safety ties, support exports to Latin America

South Korea will host 32 food safety officials from eight Latin American countries for a training program to strengthen import safeguards and help Korean food companies expand into the region, the Ministry of Food and Drug Safety said Wednesday. The program, now in its fourth year, will run from Oct. 26 to Nov. 2, with Argentina, Brazil, Ecuador, El Salvador, Guatemala, Mexico, Paraguay and Peru participating. “Building trust between countries through food safety cooperation is an important foun

Oct. 7, 2026

Finance minister pledges to create favorable biz environment amid challenges

South Korea will work to create a favorable business environment to support economic growth while addressing structural challenges, such as stagnant productivity, the finance minister said Wednesday. Finance Minister Lee Hyoung-il made the remarks during a meeting with representatives of South Korea's six major business lobbies, including SK Group Chairman Chey Tae-won, who heads the Korea Chamber of Commerce and Industry. "Recently, the South Korean economy has gained growth momentum despite a

Oct. 7, 2026

Medicube enters Mexico’s luxury department store market

APR has opened a permanent Medicube store at Mexico’s Palacio de Hierro, becoming the first Korean beauty brand to enter the premium department store chain, the company said Wednesday. The store at the retailer’s Satelite branch, northwest of Mexico City, builds on Medicube’s pop-up at Oasis Coyoacan earlier this year. A second permanent location is scheduled to open at Palacio de Hierro’s Coyoacan branch this month. The openings deepen APR’s push into Mexico’s premium beauty market, adding dedi

Oct. 7, 2026

LS Electric forms joint venture for power infrastructure in Taiwan

LS Electric has signed an agreement with Nanya Plastics and KHI, affiliates of Formosa Plastics Group, to establish a joint venture for power infrastructure in Taiwan. The signing ceremony, held Tuesday at LS Yongsan Tower in Seoul, was attended by LS Electric Chairman Koo Ja-kyun, Formosa Plastics Group Chairman Wang Jui-yu, Nanya Plastics Senior Executive Vice President Chen Yu-sheng and KHI CEO Park Dong-sub. LS Electric will hold a 50 percent stake in the venture, with Nanya Plastics and KHI

Oct. 7, 2026

SK On’s Hungary plant earns Ford’s top Q1 quality certification

SK On said Wednesday that its Ivancsa Plant in Hungary has received Ford’s Q1 Award, the automaker’s highest quality certification for supplier facilities, just over two years after starting commercial operations. The battery maker held an award ceremony at the site Tuesday, where SK On Europe head Kim Seong-sik received a plaque from Ford representatives. Ford grants Q1 status after assessing suppliers on production technology, product quality, improvement efforts, and manufacturing and quality

Oct. 7, 2026

Seoul shares open lower despite falling oil prices, bond yields

Seoul shares opened lower Wednesday, bucking overnight US gains and easing concerns over lower oil prices and bond yields. After opening 1.11 percent lower, the benchmark Korea Composite Stock Price Index narrowed losses to trade down 18.8 points, or 0.27 percent, to 6,922.59 as of 9:15 a.m. Global oil prices fell, and bond yields declined from their multidecade highs. Overnight, the Dow Jones Industrial Average rose 0.49 percent, while the tech-heavy Nasdaq Composite gained 0.45 percent to reac

Oct. 7, 2026

Nuri rocket on launchpad, ready for fifth launch

South Korea's homegrown Nuri rocket was moved to a launchpad and raised into a vertical position Tuesday, a day before its scheduled fifth launch, the country's space agency said. The Korea AeroSpace Administration (KASA) said the launch team completed transporting the rocket to the launchpad at the Naro Space Center in Goheung, about 330 kilometers south of Seoul, at 7:30 a.m. after a 90-minute journey from the assembly complex. The rocket was erected vertically and secured in place at 10:35 a.

Oct. 6, 2026

Posco Future M lands W6tr LFP materials deal with Samsung SDI

Posco Future M has signed a 6 trillion won ($4.48 billion) deal to supply Samsung SDI with lithium iron phosphate battery materials, expanding their partnership as the battery industry seeks alternatives to Chinese suppliers. The agreement covers LFP cathode active material deliveries from 2027 through 2032. Posco Future M said the contracted volume is more than double the 190,000 tons covered by an earlier agreement signed in August. The companies have also consolidated individual supply contra

Oct. 6, 2026

Shinsegae backs Paramount’s Warner Bros. takeover with $1b

Shinsegae Group is making a $1 billion bet on Hollywood, aiming to bring blockbuster franchises into its shopping malls, planned theme park and membership programs, as it seeks growth beyond retail. The Korean conglomerate said Tuesday its real estate arm, Shinsegae Property, will invest alongside Paramount Skydance Chairman and CEO David Ellison and US investment firm RedBird Capital Partners in Paramount Skydance’s acquisition of Warner Bros. Discovery. Expected to close Tuesday, the deal woul

Oct. 6, 2026