South Korea Financial News

TAIPEI (Reuters) — Taiwanese chipmaker TSMC has received from the United States a waiver extension to supply U.S. chip equipment to the company's factories in China, Taiwan Economy Minister Wang Mei-hua said on Friday.

By Humeyra Pamuk and Daphne Psaledakis

(Fixes headline typo)

SEOUL (Reuters) — South Korea's household borrowing grew in September for a sixth straight month, but by a smaller amount than the month before, central bank data showed on Thursday.

Jeep maker Stellantis says it will build a second electric vehicle battery factory in Kokomo, Indiana, that will create 1,400 new jobs

Jeep maker Stellantis says it will build a second electric vehicle battery factory in Kokomo, Indiana, that will create 1,400 new jobs

The stock market in Asia and Europe had a contrasting day where a majority of the stock markets across the Asia-Pacific region climbed across the board while European markets had a mixed day. While South Korea's bullish rally drove Asian markets, European shares faced downward pressure from underperforming luxury stocks.

The Tezos price has witnessed a turbulent 24 hours, rising as high as $0.722733 before dropping 7% to its current level of $0.669953.

League of Legends esports, is back in South Korea for the 2023 edition. After hosting the final stages of the 2014 competition and the entire 2018 event, South Korea welcomes the world's best teams once again, following the 2022 competition held in Mexico and the United States. With Worlds 2023 now underway, Team BDS secured their spot through the Qualifying Series, leaving an indelible mark with a decisive 3-0 victory over the Golden Guardians. This victory surprised many, considering the initial favoritism towards North America's representative. Here's everything you need to know about the 2023 World Championship: Worlds 2023: Streaming The tournament will be available for streaming on Riot Games' official Twitch channel. Additionally, viewers can choose from over 50 official co-streams, featuring notable personalities like Marc 'Caedrel' Lamont, Yiliang 'Doublelift' Peng, Ibai 'Ibai' Llanos, and Kamel 'Kameto' Kebir. Worlds 2023: Dates, Format, and Venues To accommodate LoL Esports pro players participating in the Asian Games in Hangzhou, China, Worlds 2023 will run from October 10 to November 19 at four different venues in South Korea. The tournament's schedule is as follows:

In a motion filed on Oct. 10, Sam “SBF” Bankman-Fried’s lawyers requested that the court allow for the introduction of evidence supporting positive investment outcomes, such as an investment in the artificial intelligence (AI) startup Anthropic. 

A bipartisan parliamentary committee has urged the government of the United Kingdom to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets.

It’s been a year since the rollout of 5G technology began in India. In this time the country has emerged as one of the fastest-growing 5G markets. The number of 5G users now stands at over 100 million, according to the country's top two telecom companies, Reliance Jio and Bharti Airtel, which have driven the rollout.

Nifty 50 closed 178 points, or 0.91%, higher at 19,689.85 and the Sensex ended the day at 66,079.36, up 567 points, or 0.87%. “A lot of stock specific action would be seen over the next 45 days as the earnings get declared. On the index front, Nifty might continue with its consolidation with bouts of volatility as it would track the geo-political development, US bond yields and oil prices amidst result announcements," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Samsung Electronics Co Ltd reported a likely 78% drop in third-quarter operating profit on Wednesday, as the effects of an ongoing global chip glut drive losses in what is normally the South Korean tech giant's cash cow business. The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement. The profit beat a 2.1 trillion won LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. The earnings guidance sent shares up 3.3% in early trade, versus a 1.8% rise in the wider market. Although down sharply from last year, Samsung's third quarter profit is higher than the first quarter's 640 billion won and the second quarter's 670 billion won.

US bond yields also eased nervous sentiment as traders covered some of their bearish bets, pushing the markets higher. NSE's Nifty rose 177.5 points, or 0.91%, to close at 19,689.85. BSE's Sensex climbed 566.97 points or 0.87% to close at 66,079.36.

Despite a turbulent close to 2022, the South Korean cryptocurrency market appeared to have picked up momentum in 2023. 

Oct. 10 saw major Asian and European stocks surge higher owing to a wave of risk appetite.

Binance CEO Changpeng Zhao's plan to rescue the cryptocurrency market has fallen short of expectations eleven months after launch.

World shares are higher after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets lower since the summer

Electric vehicles and their potential impact on job security have become central to negotiations in the U.S. autoworkers strike

Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may not have been as effective as desired, a new report suggests.