South Korea Financial News

South Korea has warned that it might consider supplying weapons to Ukraine following allegations that North Korea has sent troops to Russia to bolster Moscow's military efforts in Ukraine. South Korean officials view these developments as a serious security threat, as they fear that Russia may reciprocate by providing North Korea with advanced weapons technologies that could enhance its nuclear and missile capabilities aimed at South Korea.

polymer production capacity could double by 2030, according to government estimates, exceeding 15 million tonnes. The largest new project in the country will be SIBUR’s Amur Gas Chemical Complex, with a production capacity of 2.7 million tonnes of polyethylene and polypropylene per year. Setto launch in 2027, the complex is well positioned to tap into thegrowing potential offered by Asian markets.

Global shares are mostly lower in cautious trading ahead of earnings reports around the globe

US-China trade war have fallen short, according to a new study, with other Asian rivals benefiting to a much greater extent from escalating tensions between the world’s biggest economies. Between 2017 and 2023, India’s total share in US imports rose by 0.6 percentage points to 2.7% while mainland China’s portion dropped by around 8 percentage points to under 14%, according to Oxford Economics. The biggest beneficiary from the trade diversion in the region has been Vietnam, whose total share in US imports grew by 1.7 percentage points to 3.7% in the period. Taiwan and South Korea have also made greater strides than India, increasing their share of US imports by 1 percentage point and 0.7 percentage points, respectively, according to Oxford.

Hyundai Motor India (HMIL), which listed on the bourses Tuesday with the country’s largest initial public offering, said it will continue to invest in the Indian market to expand capacity, deepen localisation and bring in new technologies that would include the launch of multiple electric vehicles to create value for shareholders. Speaking at the listing ceremony at the National Stock Exchange (NSE), Euisin Chung, Executive Chairman, Hyundai Motor Company, held the IPO shows that HMIL is a “key part of India”. This is the first IPO for a unit of the South Korean automaker outside South Korea. “As we move forward, HMIL will continue to embrace the highest standards in governance. Through its board of directors, HMIL will make prudent, transparent and timely decisions. Also, our commitment to localization will continue, based on the spirit of collaboration and shared growth. Our commitment to being a pioneer in future technologies will continue as well — right here in India”, Chung said.

Meta shut down facial recognition software on Facebook amid a groundswell of privacy and regulator pushback, the social media giant said on Tuesday it is testing the service again as part of a crackdown on "celeb bait" scams. Meta said it will enroll about 50,000 public figures in a trial which involves automatically comparing their Facebook profile photos with images used in suspected scam advertisements. If the images match and Meta believes the ad are scams, it will block them. The celebrities will be notified of their enrollment and can opt out if they do not want to participate, the company said.

Federal Reserve rate cuts. Shares in Australia, Japan, and South Korea all fell, while futures for benchmarks in Hong Kong pointed to losses. That’s after equities in the US dropped from nearly overbought levels, following a relentless advance to all-time highs.

Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to its parent company in South Korea after its latest IPO also put pressure on the rupee

Hyundai Motor India Ltd. was the country’s largest ever. That, however, is not its true significance. More interesting is whether the South Korean automaker’s $3.3 billion IPO will be a trendsetter like Colgate-Palmolive Co.’s listing of its local unit nearly 50 years ago. A comparison with the past may help shed a light on the future. Back then, issuers had to be coerced. India’s foreign-exchange position, never too comfortable, had started looking downright perilous after the 1973 global oil shock. Colgate’s dividend repatriation, many times more than its capital investment, became a lightning rod for lawmakers. They brought in a law to limit multinationals’ holdings in domestic operations to 40%.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Subscribe to enjoy similar stories. India could play a vital role in setting a precedent that works both for OTT (over-the-top) players and telecom service providers insofar as imposing a fair-share levy on streaming platforms is concerned, Julian Gorman, head of Asia-Pacific at GSMA, a London-based lobby that represents mobile network operators globally. Telecom service providers want big OTT players such as Netflix and Amazon Prime Video that generate large data traffic to pay a mutually-decided fair charge to create and maintain digital telecom infrastructure.

Subscribe to enjoy similar stories. New Delhi: The Indian government is considering a safeguard duty on steel imports to curb the influx of cheap steel into the country and protect the domestic industry. Imported steel, especially from China, costs about 30% less than domestic steel even with customs duty factored in, according to industry estimates.

North Korea has decided to send a «large-scale» troop deployment to support Moscow's war in Ukraine, with 1,500 special forces already in Russia's Far East and undergoing training, Seoul's spy agency said Friday. The National Intelligence Service said the North had decided to send thousands of soldiers to help Russia, releasing detailed satellite images it said showed the first deployment. South Korea's President Yoon Suk Yeol convened an emergency security meeting Friday, with Seoul slamming Pyongyang's move as «a significant security threat not only to our country but also to the international community,» the president's office said.

Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Hyundai Motor India's ₹27,870 crore initial public offering (IPO) — the country's largest ever — was subscribed 2.37 times on Thursday the final day of bidding. The issue sailed through thanks to a strong appetite from institutional investors as the high net worth and retail investor categories failed to garner enough bids. Investors placed bids for 236 million shares worth ₹46,320 crore in the issue, against the 99.8 million shares worth ₹19,555 crore (excluding anchor allotment) offered by Hyundai Motor India's South Korean promoters. Earlier this week, the company raised ₹8,315 crore (roughly 30% of the IPO size) as part of the anchor allotment from 225 institutional investors.

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

North Korea is providing military help to Russia, such as ammunition and weapons, to stand against Ukraine with the utmost strength, as per a report. The United States is in deep concern regarding the military support that North Korea is providing increasing military support to Russia in the ongoing war. Deputy Secretary of State Kurt Campbell expressed on Wednesday that the nuclear threat of Pyongyang has warned Washington and its allies. Evidence has also come that North Korea is providing materials to help Moscow, including artillery and missiles. Following Campbell's words with the officials of South Korea and Japan based on renewing international pressure on North Korea, he has also had words with the reporters, as per Newsweek. Also Read :Taylor Swift spends a whopping amount of money to treat her boyfriend Travis Kelce; this is how much she shelled out

North Korea appears very unhappy with the South at the moment — but why? AFP takes a look at what we know: What has changed?

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...