South Korea Financial News

While the deliveries of LCA Mk1a jets have been delayed due to late supplies of engines, officials have been in regular touch with US manufacturer GE and there is a degree of confidence that things will stabilise by March 2025, they said on condition of anonymity. Engine supplies have been disrupted due to the bankruptcy of a South Korean defence firm — a key supplier of parts and components, according to the people. After the company ceased operations, GE had to establish an alternative line of suppliers, leading to a delay of almost two years, they said.

The Czech power company CEZ has signed a deal with Britain’s Rolls-Royce SMR to form a strategic partnership to develop and deploy small modular nuclear reactors

Krafton India, the local unit of the South Korean maker of Battlegrounds Mobile India, has become the anchor investor in IMM Investment’s maiden India fund. The IMM India Fund is an extension of IMM Investment, a multi-asset South Korean fund managing $7 billion in assets. It will focus on backing startups across sectors such as consumer technology, software-as-a-service (SaaS), fintech, gaming, media and deep tech. The fund will primarily target growth-stage companies with strong potential for an initial public offering, leveraging South Korean expertise and capital, said a company statement.

Asian shares mostly rose after U.S. stocks closed broadly higher with gains in Big Tech companies offsetting a skid in oil-and-gas stocks

power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers. With domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports, it added. It said the immediate cause of the CRGO steel shortage is import uncertainty caused by the delayed license renewals by the Bureau of Indian Standards (BIS) for many foreign suppliers from Japan, South Korea and China.

Asian shares rose, as the yen dipped in the midst of political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections

Subscribe to enjoy similar stories. A top government panel is likely to approve a ₹4,000-crore production linked incentive (PLI) scheme next month to boost the domestic production of specialty steel and curb imports, two persons in the know of the development said.

The global push for biomass that can be burned for energy is causing concern about the price Indonesia's forests are paying

Is there a conspiracy to oust New Jeans from their agency HYBE? Fans of the K-pop girl group got a huge shock after the music giant internal documents were made accessible to the public by the South Korean Ministry of Culture, Sports, and Tourism. Although the documents were quickly made private, citing potential public impact, netizens swiftly shared the legal details online. Among the disclosures was a strategic outline involving HYBE’s girl groups, suggesting a plan to phase out NewJeans. The documents indicated that with the addition of ILLIT to the label’s roster, alongside NewJeans and LE SSERAFIM, the groups had collectively been branded as “NEW-IL-LE.”

Subscribe to enjoy similar stories. Creators are looking forward to "a wave of brand deals" headed their way with YouTube now allowing them to place product links in their videos. They can now earn a commission on sales of products that shoppers can now directly buy while watching a video, without leaving the app.

Asian stocks are mostly higher aside from in Japan, where investors are awaiting the outcome of an election on Sunday

Subscribe to enjoy similar stories. To call Apple a corporate behemoth is to be uncharitable. It is much bigger than that.

Russia moved to ratify a key defence pact with North Korea on Thursday, while South Korea warned it would not «sit idle» if Pyongyang deployed thousands of troops to help Moscow fight Ukraine. Seoul's spy agency says thousands of North Korean soldiers are currently training in Russia and are likely to deploy to the front lines in Ukraine soon, with thousands more to be sent by December. Lawmakers in Russia's lower house of parliament voted unanimously on Thursday to ratify a treaty with North Korea that provides for «mutual assistance» if either party faces aggression.

propaganda leaflets apparently carried by balloons were found scattered on the streets of the South Korean capital Seoul on Thursday, including some making personal attacks on the country's president and first lady. The leaflets attacking South Korean President Yoon Suk Yeol and First Lady Kim Keon Hee found in the capital appear to be the first instance of the North Korean government directly sending anti-South propaganda material across the border. They included graphic messages accusing the Yoon government of failures that had left his people living in despair, and describing the first couple as immoral and mentally unstable.

Subscribe to enjoy similar stories. Less than a mile from Singapore’s luxurious Changi Airport sits a rather less glamorous business park. Residents of the industrial estate include freight and logistics firms, as well as the back offices of several banks.

US Defence Secretary Lloyd Austin said there is evidence that North Korea has sent troops to Russia on Monday, and South Korea's spy chief told lawmakers that 3,000 North Korean troops are in the country receiving training on drones and other equipment before being deployed to battlefields in Ukraine. Austin told reporters Wednesday «What exactly they are doing? Left to be seen. These are things that we need to sort out,» according to a video posted by the Washington Post. If the troops join the war in Ukraine on Russia's side, it will be «a very, very serious issue,» Austin said, adding it would have an impact in Europe and in the Indo-Pacific region. South Korean intelligence first publicized reports that the Russian navy had taken 1,500 North Korean special warfare troops to Russia last week, while Ukrainian President Volodymyr Zelenskyy had earlier said his government had intelligence that 10,000 North Korea soldiers were being prepared to join the invading Russian forces.

Subscribe to enjoy similar stories. Foreign investors are pulling their money out of India. While that may not be surprising, the question is which global markets are catching the attention of foreign portfolio investors (FPIs) now? The short answer: Apart from China, it was South Korea, Japan and Indonesia.

Kim Jong Un has visited missile bases to examine their readiness to undertake actions of «strategic deterrence», while calling U.S. nuclear capabilities a growing threat to the country, state media reported on Wednesday. The U.S. strategic nuclear arsenal poses an «ever-increasing threat» to North Korea's security environment, which demands that Pyongyang maintain a strict counteraction posture of its nuclear forces, he was quoted as saying by KCNA. North Korea has been stepping up its development of ballistic missiles and a nuclear arsenal, drawing international sanctions, and forming close military relations with Russia.

interest rate cuts. Stocks moved between losses and gains in Japan and South Korea, with those in Australia modestly higher. Futures pointed to gains in Hong Kong. US contracts were flat after the S&P 500 closed little changed. Treasury 10-year yields hovered near 4.2% after topping that level for the first time since July.

Subscribe to enjoy similar stories. Stock of Hyundai Motor India Ltd, only the second pure-play passenger vehicle maker to be listed on the Indian stock exchanges after Maruti Suzuki India Ltd, debuted on the National Stock Exchange (NSE) at ₹1,934 on Tuesday, a slight discount to its issue price ₹1,960. The issue—a milestone for both the company’s parent Hyundai Motor Co.

Kamala Harris and Republican candidate Donald Trump are fighting the US election 2024. «We are consulting with our allies and partners on the implications of such a dramatic move,» deputy U.S. Ambassador to the U.N. Robert Wood told the 15-member United Nations Security Council. Russia invaded neighboring Ukraine in February 2022. Ukrainian President Volodymyr Zelenskiy has accused Pyongyang of preparing to send 10,000 soldiers to Russia. Ukraine's U.N. Ambassador Sergiy Kyslytsya told the Security Council on Monday: «These troops are expected to be ready for war against Ukraine by November 1.»