South Korean stocked opened weaker Tuesday as investors took profit from strong gains the previous session and on mixed overnight results on Wall Street. The benchmark Korea Composite Stock Price Index slid 6.06 points, or 0.23 percent, to 2,676.46 in the first 15 minutes of trading. Overnight, Wall Street shares finished mixed amid the latest economic indicators showing a slowing of the US economy. The Dow Jones Industrial Average fell 0.3 percent while the Nasdaq composite gained 0.6 percent a

Stock prices of oil- and gas-related companies spiked Monday, following President Yoon Suk Yeol's approval for exploratory drilling of potentially massive reserves of natural resources off the country's southeastern coast. Out of 10 stocks that hit upper price limits on Monday, seven were related to oil and gas. The benchmark Kospi was up 1.74 percent from the previous day. Shares of the state-run Korea Gas Corp. surged by 29.9 percent to close at 38,600 won ($28). Other shares in the

South Korean stocks rallied by more than 1.7 percent Monday as investors' sentiment was boosted by favorable economic data that could lead to a rate cut in the United States. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index rose 46 points, or 1.74 percent, to close at 2,682.52, ending in positive territory for the second consecutive session. Trade volume was heavy at 768.6 million shares worth 13.8 trillion won ($10 billion), with gainer

Competition in the growing foldable smartphone market is set to get fiercer. Samsung Electronics is out to regain market leadership with a new foldable phone series next month, while Chinese rivals are trying to catch up with the Korean tech giant’s market dominance in the sector. Lenovo-owned Motorola has reportedly passed the Chinese government’s certification and is expected to roll out its new flagship foldable phone, Razr 50 Ultra, within the next month, according to industry so

South Korea has approved a large-scale project to carry out exploration drilling of potentially massive gas and oil reserves, which could hold up to 14 billion barrels of gas and oil in the deep sea off the country’s southeastern coast, President Yoon Suk Yeol announced Monday. Yoon highlighted that the maximum amount of buried gas and oil would be enough for the country to use for 29 years and four years, respectively. He said the government entrusted Act-Geo, a top global deep-sea techno

South Korean stocks got off to a strong start Monday as moderate US inflation raised hopes for a possible rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index rose 33.76 points, or 1.28 percent, to 2,670.28 in the first 15 minutes of trading. The US personal consumption expenditures price index, excluding food and energy costs, increased 0.2 percent in April, meeting market expectations. The PCE index is one of the key barometers for the US central bank to set its ton

South Korea announced plans to build up to three new nuclear reactors by 2038, launch a 0.7-gigawatt small modular nuclear reactor (SMR) by 2035, and triple solar and wind power generation facilities by 2038. As it takes about 14 years to secure a site for and build a nuclear reactor, the planned reactors could be operational by 2038 if the government begins the process this year. Under the blueprint, carbon-free energy sources such as renewables and nuclear power will take up 70 percent of the

Seoul shares opened higher Friday as the US economic growth grew at a slower-than-expected pace and poor corporate earnings revived hopes for the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 19.27 points, or 0.73 percent, to 2,654.71 in the first 15 minutes of trading. Investors are also awaiting US consumption data due later in the day, which may offer clues on the Fed's future policy path. In Seoul, most large-cap stocks advanced. Market bellwethe

LG Innotek has been named as one of the Best Korea Brands 2024 announced by Interbrand, proving its unrivaled status "We will continue to make multifaceted efforts to raise the brand value of the global technology innovator." SEOUL, South Korea, May 30, 2024 /PRNewswire/ -- LG Innotek (CEO Moon, Hyuksoo) announced on May 30th that it has been named as one of the Best Korea Brands 2024 announced by Interbrand. This is the first time LG Innotek was include

The Korea Herald on Wednesday hosted its weekly Global Business Forum (GBF) under the theme “Age of Hyper-Uncertainty: Global Business Opportunities and Trends,” with Gyeonggi Governor Kim Dong-yeon and German Ambassador to Korea Georg Schmidt in attendance as the key speakers. In his welcoming speech, Ambassador Schmidt stressed that the world’s advanced economies, including Germany and South Korea, are faced with similar challenges such as trade protectionism, geopolitical te

Seoul shares dropped for the third consecutive session Thursday ahead of key US inflation data. The Korean won also dipped to the lowest in one month against the US dollar. The benchmark Korea Composite Stock Price Index fell 41.86 points, or 1.56 percent, to close at 2,635.44. Trade volume was moderate at 366.42 million shares worth 10.92 trillion won ($7.9 billion), with losers far outpacing gainers 680 to 197. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 point

Jun Young-hyun, the new head of Samsung Electronics’ semiconductor business, called Thursday for unity among management and employees to retain its leadership in the ever-evolving chip industry. “Samsung’s semiconductor business has 50 years of history and has maintained the No. 1 position in memory. We have secured unrivaled technological assets by overcoming numerous crises and challenges,” he said in his inauguration message posted on the company’s internal bulle

Seoul shares opened lower Thursday, tracking overnight losses on Wall Street, as the Federal Reserve appears to be in no rush to cut interest rates in the face of the strong economy and high inflation. The benchmark Korea Composite Stock Price Index fell 15.47 points, or 0.58 percent, to 2,661.83 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 points, and the tech-heavy Nasdaq composite retreated 0.58 percent to 16,920.58. The Fed

China has ratcheted up its plan to pour a massive amount of money into the semiconductor industry to better compete with the US. China’s aggressive move has alarmed South Korea, whose crucial chip industry is now stuck with a stalled bill and other troubling issues. China has set up its third state-backed investment fund valued at 344 billion yuan ($47.5 billion), marking the largest-ever fund aimed at strengthening the global competitiveness of Chinese chipmakers. The third fund, expected

Samsung Electronics Co. said Wednesday two workers at one of its chip manufacturing facilities in South Korea were recently exposed to radiation and a government-led investigation is underway. The two workers in the chip production line of Samsung's Giheung Campus in Yongin, 42 kilometers south of Seoul, experienced X-ray exposure on their hands Monday, the company said in a text message response to reporter inquires. The company said it became aware of the incident Tuesday when the workers