‘Cash cow’ SK Siltron draws strong PE interest despite cyclical risks

South Korea's leading private equity firms are eyeing a controlling stake in semiconductor wafer producer SK Siltron, which has been put on the market by energy-to-chip conglomerate SK Group as part of an all-out restructuring drive. SK Inc., the group’s holding company, has reportedly expressed interest in selling its 70.6 percent stake in SK Siltron to optimize its business portfolio and address inefficiencies and financial strain. With the wafer producer’s valuation estimated at around 5 tril

April 18, 2025

Korea’s W12tr extra budget to boost economy by 0.1%p

The South Korean government’s proposed supplementary budget worth 12.2 trillion won ($8.6 billion) is projected to stimulate growth in the country’s gross domestic product by 0.1 percentage point, officials said Friday. The government passed the extra budget proposal at an extraordinary Cabinet meeting on Friday. Of the 12.2 trillion won, roughly 4 trillion won will be injected into shoring up key industries affected by trade tensions and advancing the artificial intelligence sector, while 3 tri

April 18, 2025

BOK holds key rate amid US tariff pressure, won volatility

The Bank of Korea held its base rate steady at 2.75 percent Thursday, as the South Korean economy faces headwinds from the US administration’s tariff measures. The central bank also projected it would have to cut the country’s gross domestic product growth forecast for 2025 to below the previous estimate of 1.5 percent. The rate freeze was supported by five out of six members of the Monetary Policy Board, excluding BOK Gov. Rhee Chang-yong, whose individual vote is not disclosed. One of the six

April 17, 2025

BOK freezes base rate as tariff pressures weigh on economy

The Bank of Korea held the base rate steady at 2.75 percent on Thursday, as the South Korean economy faces renewed pressure from heightened trade tensions driven by US President Donald Trump’s "reciprocal tariffs." The BOK’s decision came amid continued volatility in the Korean won, which has fluctuated since the US administration announced the imposition of reciprocal tariffs on all its trading partners. On April 9, the Korean won fell to 1,487.6 per US dollar during daytime trading, marking it

April 17, 2025

Missing worker at collapsed subway construction site found dead

A laborer who went missing when a subway construction site near Seoul collapsed was found dead Wednesday, according to the local fire department. The fire authorities discovered the construction worker 21 meters underground at 8:03 p.m. and retrieved his body at around 8:11 p.m. The man was located not far from a shipping container that had been used by workers as a shelter, where the authorities had expected to find him. "There was a lot of soil and the recovery process was difficult. The conta

April 16, 2025

Wealthy Koreans shift focus from real estate to gold, bonds and crypto

More wealthy South Koreans are eyeing diversification of their investments, seeking out safe-haven assets such as gold and bonds in their portfolios instead of real estate, a traditional investment here, research conducted by a think tank under Hana Financial Group showed. The wealthy are increasing their stake in cryptocurrency as well. The Hana Institute of Finance released the 2025 Korea Wealth Report Wednesday. This year, the online survey was conducted on 3,010 Hana Bank customers in Decemb

April 16, 2025

KB Securities to open Mumbai office in India push

KB Securities, a brokerage affiliate of the South Korean finance giant, KB Financial Group, is set to establish an office in Mumbai this year to seek opportunities in the fast-growing country. "As part of its global expansion drive, KB Securities plans to open an office in India," an official from the brokerage firm confirmed on Tuesday. KB Securities currently operates six overseas units in five countries, including the US, Hong Kong, Vietnam, Indonesia and China. India will be the firm’s sixth

April 15, 2025

[Photo News] "Reciprocal" relief

A person walks past the Nasdaq MarketSite in New York on Monday. US stock indices ended higher that day as investors priced in hopes that President Donald Trump may take a softer stance on tariff policies. Although the Trump administration has pledged to impose new tariffs on electronics, markets gained amid expectations that the imminent exemption of “reciprocal" tariffs on tech items signals a possible easing of the US' overall tariff approach. (AP-Yonhap)

April 15, 2025

MBK faces headwinds amid regulatory probes

Future course of fundraising overshadowed by series of probes into Homeplus investment MBK Partners could face challenges in fundraising while embroiled in controversies surrounding South Korea’s No. 2 hypermarket chain, as public funds turn wary due to compliance risks, according to industry sources. Following Homeplus’ application for a court-led rehabilitation, MBK has been pressured by multiple governmental bodies. MBK wholly owns the discount supermarket franchise as a portfolio company. In

April 10, 2025

Tariff blow sinks Kospi, clouds growth outlook

The South Korean benchmark Kospi sank below the threshold of 2,300 points for the first time in 17 months, suffering a blow from the angst surrounding "reciprocal tariffs" imposed by the US. Coupled with the stock market’s slump, the value of the Korean won against the US dollar further weakened past 1,480 won. As 25 percent tariffs on Korean goods imported to the US took effect Wednesday as previously scheduled, the Kospi closed daytime trading at 2,293.7, sliding 40.53 points, or 1.74 percent,

April 9, 2025