South Korea Financial News

Asian shares are mostly lower, although the Tokyo stock markets touched another record high in morning trading

Mark Zuckerberg was in Japan on Monday on a mini-Asia tour involving sword-making, mixed-reality headsets in Seoul and reportedly also lavish pre-wedding celebrations for an Indian multi-billionaire's son. Zuckerberg posted footage on Sunday on social media of a «special afternoon learning about making katanas» with a sword master, including of him hammering molten metal and swinging a blade.

Sensex eased 15.44 points, or 0.02%, to close at 73,142.80, while the Nifty 50 ended 4.75 points, or 0.02%, lower at 22,212.70. “This week, the market might take a pause ahead of various global economic data releases. US would be reporting its Q4 GDP numbers along with Initial jobless claim, PCE data and Consumer Confidence for the month of February.

artificial intelligence services and forge ties with business and government leaders in the region. Meta Platforms Inc.’s chief executive officer, who’s been in Japan the past week to accompany his family on a ski trip, will meet with his company’s developers in Tokyo on Monday and Tuesday, according to a spokesperson. They’ll discuss the company’s Quest virtual-reality headsets and its large language model Llama, one of its efforts to compete with OpenAI’s ChatGPT.

SEOUL (Reuters) -South Korea's financial regulator on Monday announced reform proposals to nudge listed companies with low valuations to report plans to boost shareholder returns in an effort to reduce the «Korea discount» on stock prices.

“Is crypto a security?”– South Korean courts cannot seem to decide on the answer, and a new report claims the conundrum is causing a legal backlog.

SEOUL (Reuters) -South Korea's finance minister said the government's corporate reform plan would continue in steps until the «Korea discount» in the local stock market is resolved.

hacking group has exposed extensive cyber intrusions conducted by Beijing's intelligence and military entities against foreign governments, companies, and infrastructure. According to a report by The Washington Post, the leaked cache, comprising over 570 files, images, and chat logs, provides a rare insight into the operations of a firm hired by Chinese government agencies for on-demand, mass data-collecting operations. The files, posted on GitHub last week, reveal contracts spanning eight years aimed at extracting foreign data. The targets include at least 20 foreign governments and territories, such as India, Hong Kong, Thailand, South Korea, the United Kingdom, Taiwan, and Malaysia.

sustainable, aerospace company Embraer and South Korean automaker Hyundai are among the companies betting on a new form of air travel — air taxis. Hyundai's Supernal and Embraer-backed Eve Air Mobility are developing electric aircraft that take off and land vertically. The idea is that such air taxis might provide a sustainable form of air transport for densely populated cities and areas with less developed public transport networks. Experts say they could help offset carbon emissions from the traditional aviation sector, but there are plenty of technological and regulatory challenges to making air taxis commercially viable.

K-Pop has lost one of its most legendary producers Shinsadong Tiger. The maestro, known for producing classics such as ‘Up & Down’ (for the girl group EXID, ‘Thriller’ for BtoB, ‘Mastermind’ by Beast, Apink’s ‘No No No’ etc, was found dead in his recording studio on Thursday. He was 41 years old. According to a report by The Korea Herald, the composer was found dead by an acquaintance, who travelled to his studio after the producer didn’t respond to calls.

A court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea

South Korea and the United States flew advanced stealth fighters in a joint missile-interception drill Friday over the Korean Peninsula, South Korea's air force said, an apparent response to a spate of weapons tests this year by rival North Korea. North Korea has conducted six rounds of missiles tests so far this year, most of them reportedly involving cruise missiles that fly at a low altitude to overcome opponents' missile defenses. Analysts say that in the event of a conflict, North Korea aims to use cruise missiles to strike U.S. aircraft carriers as well as US military bases in Japan. South Korea's air force said the drill on Friday involved fight-generation stealth F-35A fighter jets from both countries and other fighter jets from South Korea. It said the US F-35As were deployed in South Korea on Wednesday from Kadena Air Base in Okinawa, Japan.

trade agreements with the UK, Oman and four European nation bloc EFTA will reflect its commitment to trade liberalisation and economic integration at a time when the whole world is turning protectionist, according to a report. Economic think tank Global Trade Research Initiative (GTRI) said the free trade agreements (FTAs) have become pivotal instruments for India's economic expansion and integration into the world market. These nations and the bloc are eager to finalize these agreements before the upcoming general elections, GTRI said, adding the talks are on the verge of conclusion. Signing of these three agreements will take India's FTA tally from 13 to 16.

Investing.com-- Most Asian stocks rose on Friday and were set for a positive week as optimism over artificial intelligence drove stellar gains in the technology sector, while Chinese stocks extended a rebound into a second week.

Sensex climbed 535.15 points, or 0.74%, to close at 73,158.24, while the Nifty 50 settled at 22,217.45, up by 162.40 points, or 0.74%. “Strong Q4 results and a positive outlook from chipmaker Nvidia led to a revival in global sentiments. Further, HSBC Flash India PMI data for the month of February pointed towards India’s economic activity – both manufacturing and services being at a 7-month high which helped Indian markets to make a sharp recovery.

Investing.com-- Semiconductor maker Kioxia Holdings and U.S. partner Western Digital Corporation (NASDAQ:WDC) will resume negotiations for a potential merger in late-April 2024, Japanese newspaper Asahi Shimbun reported on Friday.

As the aviation sector seeks ways to make air travel less polluting and more sustainable, aerospace company Embraer and South Korean automaker Hyundai are among the companies betting on a new form of air travel -– air taxis

Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has seen a remarkable growth in crypto assets under its custody. 

loans to electric vehicle (EV) technology manufacturing ventures, although the Biden administration still has $221.8 billion in loan capacity to fund clean-energy projects. Jigar Shah, director of the energy department's loan program office, told Reuters in Detroit that applications for $80 billion in financing have come to his office within the past two months from «very sophisticated players.»

South Korean province of Gyeonggi is utilizing a clever new system to catch tax dodgers hiding their wealth in cryptocurrency. The innovative approach has already recovered a total of $4.6 million in owed taxes from just one group of delinquents.

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