South Korea Financial News

ALSO READ: North Korea's Kim Jong Un orders steps to boost ties with Russia amid US, Seoul warning of weapons deal “The North Korean regime’s obsession with the development of nuclear weapons aggravates the North Korean people’s suffering," Yoon said. “The North Korean regime must realize that nuclear weapons will never be able to guarantee its security." To mark the anniversary, South Korea held its first military parade in a decade in Seoul that featured thousands of troops and its latest military hardware such as domestically made long-range surface-to-air missiles.

(Reuters) — The U.S. FDA is cracking down on lax testing practices by dozens of makers of healthcare products following hundreds of deaths overseas from contaminated cough syrups, a Reuters review of regulatory alerts found.

Investing.com-- Most Asian currencies fell slightly on Tuesday, while the dollar steadied at its highest levels for the year on growing bets that U.S. interest rates will rise further this year.

Treasury yields scaled a fresh 16-year peak on Tuesday, underpinning the dollar near a 10-month summit, as investors responded to the message from the Federal Reserve and other major central banks of rates staying elevated for longer. Asia-Pacific stock benchmarks sagged along with gold, while crude oil continued to drift back from 10-month highs. The yield on 10-year Treasury notes rose to 4.552%, a level not seen since October 2007. The U.S. dollar index — which measures the currency against six major developed market peers, including the euro and yen — ticked up 0.05% to 106.00, after reaching 106.10 overnight for the first time since Nov.

Investing.com-- Most Asian stocks retreated on Tuesday as the prospect of higher U.S. rates weighed on the technology sector, while persistent concerns over a Chinese economic slowdown also kept investors wary of regional markets. 

equity indices ended flat as sentiment remained fragile on concerns of higher interest rates and faltering economic growth. “We expect weakness to persist in the market amid cautiousness ahead of the monthly F&O expiry this week and economic data like India’s Infrastructure Output for the month of August US and UK Q2 GDP data and US and China manufacturing PMI data to be released," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 26 Here are key domestic and global market cues for Sensex today" Asian markets were trading mostly lower on Tuesday as concerns about China’s property sector re-surfaced.

Maruti Suzuki, Hyundai, Kia, Honda, Tata Motors and Mahindra build up inventory. Automakers have raised production by up to 25% to clear the 650,000-unit order book and expected record-breaking festive season sales amid sustained consumer demand. The industry anticipates selling more than a million cars, sedans and sports utility vehicles this festive season, exceeding 934,000 sold in the 2021 season and 892,000 units in 2022. The festive season accounts for 30-35% of retail auto sales. The industry sold a record 359,228 vehicles in August. Maruti Suzuki is fine-tuning production to roll out more of its best-selling models — such as the Fronx, Brezza and Ertiga — to capitalise on the demand. Its South Korean rival, Hyundai Motor, has increased annual production capacity by up to 60,000 units and is working to hasten deliveries of its range of SUVs, with latest offering Exter notching up more than 76,000 bookings. Honda Cars has started running its plant on Saturdays to ensure timely deliveries of recently introduced SUV Elevate.Dussehra-Diwali Deliveries Kia India, in addition to raising production from October, has introduced two more variants of the newly refreshed Seltos that require fewer microchips, to reduce wait times.

investors looking for better returns are set to buy more into Indian banks as improved margins and stable asset quality make such stocks attractive for bulge-bracket funds, said a report by S&P Global Market Intelligence. The total market value of foreign institutional investors' holdings in Indian banks has risen to ₹8.3 lakh crore as of June 30, from ₹7.7 lakh crore a year ago, said the report. The country's economic growth prospects and the lenders' solid performance are some factors driving the investor interest. Following this trend, more global investors are likely to participate. In its financial stability report, India's central bank said the asset quality of SCBs continued to improve and their GNPA ratio declined to a decade low of 3.9% in March 2023. «More investments in Indian lenders may come from Australia, Europe, Japan, South Korea and the Middle East», said the report.

Amazon and artificial intelligence (AI) startup Anthropic have announced a new investment agreement to aid the research and development of new high-performing foundation models. 

India's limited participation in global value chains (GVCs) hampers its export potential, despite possessing substantial manufacturing capabilities across various GVC-relevant product categories. The integration of Indian companies in the GVCs is fundamental as about 70 per cent of global trade operates within these chains, encompassing a wide range of products, from electronics and machinery to pharmaceuticals and apparel. «India's weak GVC integration can be attributed to poor trade infrastructure, causing delays at ports and customs, which are detrimental to the timely flow of goods in these intricate value chains,» GTRi Co-Founder Ajay Srivastava said. Countries like China, Japan, South Korea, Thailand, and Malaysia have excelled in GVCs due to investments in quality trade infrastructure. The GTRI report has recommended six action points to the government which can help boost the participation of domestic firms in GVCs. The suggestions include automating port and customs procedures, and implementation of green channel clearances for 99 per cent of shipments; analysing the top 10,000 exporters responsible for 85 per cent of India's exports; matching global best practices for ship turnaround times, reducing queues, speeding up transactions, and optimizing infrastructure use; and enhance communication between traders and shipping companies, port operators, and Container Freight Stations (CFS). The report asked for creation of an online platform for all export-import compliance processes. «National Trade Network (NTN) would enable exporters to submit all required information and documents in one place, eliminating the need to interact separately with customs, DGFT (directorate general of foreign trade), shipping

South Korean cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals after a temporary halt prompted by a scam token infiltration. 

Also Read: K-pop megastars BTS mark decade of dominance in music industry "Virtual humans are basically capable of carrying out much of what real people do," she said, adding that the current level of AI technology means humans are still needed -- for now. The demand for AI humans in South Korea was initially driven by the K-pop industry, with the idea of a virtual idol -- not prone to scandals and able to work 24/7 -- proving popular with the country's notoriously hard-driving music agencies.

Team India's shooting trio, Divyansh Panwar, Rudrankksh Patil, and Aishwary Tomar, clinched gold in the men's 10 m air rifle team shooting event at the ongoing Asian Games in Hangzhou on Monday. Their impressive score of 1893.7 not only secured the top spot but also shattered China's world record of 1893.3 points set in August 2023. The silver medal was bagged by South Korea, with a total of 1890.1 points. China fell way behind to secure the bronze with 1888.2 points. This is India's first gold in the Asian Games Hangzhou. «Shooting their way to the top. First gold for India @RudrankkshP, @DivyanshSinghP7, and Aishwary Pratap Tomar have hit the bullseye and secured the st Gold for India in the 10m Air Rifle Men's Team event at the #AsianGames2022.

South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal.

Sensex and Nifty 50 ended lower for the fourth consecutive session on Friday weighed down by weak global cues as the US Treasury yields rose to their multi-year high levels and crude oil prices rose by about a percent. “We expect the market to remain under pressure in the near term given the global concerns. Thus, we suggest investors to have higher allocation towards defensive and large-caps.

NEW DELHI, MUMBAI : The race to dominate the electric vehicle (EV) market has triggered a dash for talent, as automakers and others in the ecosystem seek out experienced professionals to develop capabilities in green mobility. Industry executives said that companies are trying to attract and retain professionals skilled in battery management systems, fuel cells and core engineering with pay hikes, retention bonuses and counter-offers. Leading Indian automakers are introducing new EV models, and startups are coming up with innovative electric mobility solutions, even as the government works to reduce carbon emissions.

LG Chem Ltd has entered a partnership with China's Huayou Group's subsidiary Youshan, it said on Sunday, to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio. Huayou has joined the growing number of Chinese electric vehicle and battery companies seeking to expand overseas to get closer to their foreign clients and benefit from local incentives.

Zareen stamped her authority in the women's 50kg by registering a dominant 5-0 win over Vietnam's Thi Tam Nguyen while Preeti Pawar (54kg) moved to the quarterfinals of the Asian Games here on Sunday. In a rematch of March's world championship final, Zareen once again defeated two-time Asian Champion Nguyen by unanimous decision to move to the pre-quarters. Putting up a dominating show, talented Indian boxer Preeti notched up a an RSC win over Jordan's Silina Alhasanat. One of only four boxers to not get a first round bye in the 50kg event despite being the reigning world champion, Zareen controlled the proceedings from the word go. In the opening two rounds Zareen landed accurate punches, rattling her opponent. Such was her power that the referee was forced to give Nguyen the eight count twice in 30 seconds in the opening round. Nguyen tried to attack in the second round but Zareen retaliated with strong combination punches, forcing a third eight count upon the Vietnamese boxer. With her work done, Zareen conserved energy in the final three minutes, defending beautifully with the help of her nimble footwork. Zareen will face Chorong Bak of South Korea in the Round of 16 while a tough bout awaits Preeti.

Asian Games in China's Hangzhou. Japan won the tie by winning straight three games by 25-16, 25-18 and 25-17 to secure their spot in the semi-finals. Japan proved to be a much higher challenge for the Indians as they established their dominance with a 10-6 lead in the opening set. Japan who are ranked No. 1 in Asia showed their command and prowess by stretching their lead to 15-8.

Russia's top diplomat denounced the United States and the West on Saturday as self-interested defenders of a fading international power structure, but he didn't discuss his country's war in Ukraine in his speech to the UN General Assembly. «The US and its subordinate Western collective are continuing to fuel conflicts which artificially divide humanity into hostile blocks and hamper the achievement of overall aims. They're doing everything they can to prevent the formation of a genuine multipolar world order,» Foreign Minister Sergey Lavrov said. «They are trying to force the world to play according to their own self-centered rules,» he said. As for the 19-month war in Ukraine, he recapped some historical complaints going back to the 1991 breakup of the Soviet Union, and alluded to the billions of dollars that the US and Western allies have spent in supporting Ukraine.

Samsung is all set to launch its much-anticipated smartphone, the Galaxy S23 FE, in India, and the excitement is building up among tech enthusiasts. The South Korean tech giant has teased the release of this device on the popular e-commerce platform, Amazon. In a recent tweet, Samsung India, through its official X (formerly Twitter) account, hinted at the launch with the tweet, «Epic moments are now closer than ever. Get ready to experience the new epic. Launching soon.» While the tweet did not explicitly mention the smartphone model, GSMArena spotted a revealing detail on Amazon's promo page – the picture's URL had the S23 FE name, while the page's HTML title tag said «Samsung Galaxy Oct Launch,» confirming the Samsung Galaxy S23 FE will launch in India next month. What makes this launch particularly thrilling is the fact that the company opted not to release a Fan Edition (FE) variant for its previous S22 series.