City Seoul Financial News

Kim Jong Un on Wednesday toured Russia's most modern space launch centre, where President Vladimir Putin promised to help Pyongyang build satellites. The unprecedented visit comes as North Korea seeks to put its first spy satellite into orbit, an effort that has seen two failed attempts this year. The promised Russian aid comes as North Korea's scientists have vowed to try another launch of the new Chollima-1 booster in October. Here's what we know about North Korea's race for space, why it's so controversial, and how Russia might help: WHY DOES NORTH KOREA WANT A SATELLITE? Since 1998 North Korea has launched six satellites, two of which appeared to have been successfully placed in orbit. In 2015, a senior North Korean space official said the country wanted to develop cooperation with Russia on «peaceful» use of outer space, the official told TASS. The most recent successful satellite launch was in 2016.

SEOUL—As North Korean leader Kim Jong Un traveled to Russia, he likely did so in the preferred manner of Pyongyang’s ruling family: cloaked in secrecy, self-protection and style. Kim, the third-generation dictator, plans to meet Russian President Vladimir Putin, state media from both countries said on Monday—the first official confirmation of the summit between the two leaders. The reports didn’t specify when or where specifically the exchange will take place.

It holds a special place in South Korean culture, consumed at various occasions, from intimate family gatherings to extravagant «mukbang» sessions watched by millions, including K-pop sensation Jungkook from the renowned group BTS. Paired with chilled lager, this combination, affectionately known as «chimaek» (a fusion of the Korean words for chicken and beer), is an essential part of the Seoul experience, particularly during baseball games. South Korea boasts the world's third-largest domestic fried chicken market, trailing only behind the United States and China, with a staggering worth of approximately seven trillion won ($5.3 billion).

Shares have slipped in Asia after Japan reported its economy grew less than earlier estimated in the last quarter

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Shares are lower in Europe and Asia after China reported that its exports fell for a fourth straight month in August, adding to pressures on its slowing economy

Shares are lower in Asia after a decline on Wall Street, where strong economic data revived worries that the Federal Reserve might keep interest rates high for longer than hoped

Nifty settled higher for the fifth consecutive session on Thursday, September 7, supported by gains in select heavyweights, including Larsen & Toubro, HDFC Bank, and ICICI Bank, even as global cues were weak amid concerns over higher interest rates for an extended period. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended lower. European markets were trading in the green in early deals.

Nifty settled higher for the fourth consecutive session on Wednesday, September 6, supported by gains in shares of select heavyweights, including HDFC Bankand Bharti Airtel. However, weak global cues curtailed gains for them as concerns over interest rate hikes and weakening global economic growth weighs on market sentiment. In Asian markets, Tokyo, Shanghai and Hong Kong ended in the green while Seoul settled lower.

SEOUL—For more than four years, Kim Jong Un has stayed inside his country’s borders, focused on a deadly virus, a stifled economy and a corrupt elite. Now, the North Korean leader, U.S. officials said, could be planning his first foreign trip to Russia for a meeting with Vladimir Putin.

South Korean financial giant KEB Hana Bank has entered into a strategic business agreement with California-based crypto custody and security platform BitGo to offer digital asset custody (DAC) services to its clients starting next year.

Stocks are higher in Europe and Asia after Wall Street was boosted by a report that signaled the U.S. jobs market, while still healthy, is showing some signs of cooling

all-time high of Rs 315 lakh crore on Monday, helped by strong investor sentiments amid encouraging domestic macroeconomic data and a firm trend in global stocks. The BSE benchmark Sensex climbed 240.98 points, or 0.37 per cent, to settle at 65,628.14.

North Korea conducted a simulated tactical nuclear attack drill that included two long-range cruise missiles in an exercise to «warn enemies» the country would be prepared in case of nuclear war, the KCNA state news agency said on Sunday. KCNA said the drill was successfully carried out on Saturday and two cruise missiles carrying mock nuclear warheads were fired towards the West Sea of the Korean peninsula and flew 1,500 km (930 miles) at a preset altitude of 150 meters. Pyongyang also said it would bolster its military deterrence against the United States and South Korea. South Korea's military said the claim of success could be an exaggeration as «not all of them succeeded,» Seoul's Yonhap News reported, citing a senior official at the Joint Chiefs of Staff. KCNA also reportd that North Korean leader Kim Jong Un visited Pukjung Machine Complex, which produces marine engines, and a munitions factory to stress the importance of strengthening Pyongyang's naval forces. «He affirmed that a future plenary meeting of the Central Committee of the WPK (Worker's Party of Korea) would set forth an important modernization of the complex and the development direction of the shipbuilding industry,» a KCNA statement said. It did not specify the date of his visit. The latest missile test came just after the joint annual exercises between South Korea and the United States, known as Ulchi Freedom Shield, came to a close on Thursday. It featured air drills with B-1B bombers. North Korea has been stepping up its military deterrence against Washington and Seoul and has criticized last month's summit agreement between the two on improving military cooperations. KCNA said on Aug.

Also Read: North Korea fires missiles after failed satellite launch: State Media "He affirmed that a future plenary meeting of the Central Committee of the WPK (Worker's Party of Korea) would set forth an important modernization of the complex and the development direction of the shipbuilding industry," the KCNA statement said. The statement did not specify the date of his visit.

The U.S. Securities and Exchange Commission (SEC) has secured approval to collaborate with South Korea in its probe against Terraform Labs and its co-founders, Daniel Shin and Do Kwon. This decision, sanctioned by District Judge Jed Rakoff on August 16, allows the SEC to question Shin and access documents from Chai Corporation, a Seoul-based payments provider he founded.

North Korea fired several cruise missiles towards the Yellow Sea in the early hours of Saturday, according to the South Korean military. Details of the launch were being analyzed by South Korean and U.S. intelligence authorities, South Korea's Joint Chiefs of Staff said in a statement. It was the latest in a series of missile tests and military exercises conducted by the North in recent weeks including a failed spy satellite launch late last month. Seoul announced sanctions on Friday on five North Korean individuals and one company in response to Pyongyang's launch of what it said was a space rocket last month. On Thursday state media KCNA reported that Pyongyang had conducted a simulated «scorched-earth» nuclear strike on targets across South Korea, drawing criticism from Seoul.

Adidas /// Studio has announced its very own residency program for "Web3-powered" digital artists. 

Manufacturing activity in Asia’s major export powerhouses slumped further in August as weak demand persisted in the region’s key trade markets, particularly in China. Factories in North Asia experienced weaker new orders, output and export sales, according to manufacturing purchasing managers’ surveys published Friday by S&P Global and au Jibun Bank. The purchasing managers’ index for trade bellwether Taiwan was little changed at a subdued level of 44.3 last month from 44.1 in July, while South Korea’s gauge slumped to 48.9 from 49.4 during the same period. Seoul reported a similarly gloomy reading on industrial production on Thursday, showing a bigger-than-expected drop in July, marking its longest stretch of output decline yet. Japan’s PMI was unchanged at 49.6, below the 50 mark that separates expansion from contraction.Southeast Asia, which until recently was a bright spot, showed the weak sentiment was rubbing off on factories in the region.

Nifty settled lower on the last day of August on Thursday, tracking weak global cues, while investors awaited India's gross domestic product (GDP) data for the April-June quarter of current fiscal (2023-2024) which is expected later today. India's GDP likely moved up to 7.7 per cent in the first quarter, recording the fastest annual pace in a year, supported by robust government capital expenditure and a strong services sector. However, some economists and rating agencies expect India's Q1 GDP print to beat the 8 per cent forecast of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC).

Asian stock markets are mostly lower after Japanese factory activity and Chinese service industry growth weakened