S.Korea seeks fines on HSBC, BNP for naked short selling – Bloomberg News
(Reuters) -South Korea’s financial watchdog has recommended imposing a fine of at least 10 billion won ($7.67 million) each on HSBC Holdings and BNP Paribas for naked short selling, Bloomberg News reported…
S.Korea seeks cooperation with EU over U.S. Inflation Reduction Act
By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korea will seek cooperation with the European Union over the U.S. Inflation Reduction Act that excludes electric vehicles (EVs) assembled outside of…
S.Korea to review filing WTO complaint over U.S. Inflation Reduction Act -industry minister
SEOUL (Reuters) – South Korea will review whether to file a complaint at the World Trade Organization (WTO) over the U.S. Inflation Reduction Act, citing possibilities that the new law could violate…
S.Korea finance ministry warns growth may slow, exports face growing downside risks
SEOUL (Reuters) – South Korea’s finance ministry on Friday warned economic growth could slow on increasing downside risks for exports. “It is concerning that economic growth may slow due to limited export…
S.Korea to attend preliminary meeting of U.S.-led chipmaker group
SEOUL (Reuters) – South Korea is expected to attend a preliminary meeting for a U.S.-led group of major microchip manufacturers including Taiwan and Japan, South Korea’s foreign minister said on Thursday. Seoul’s…
North Korea denounces Pelosi for deterrence talks during S.Korea visit
SEOUL – North Korea denounced U.S. House of Representatives Speaker Nancy Pelosi on Saturday for supporting deterrence against North Korea during her visit to South Korea this week. Pelosi and her South…
N.Korea’s economy shrinks for two straight years but pace of slowdown eases -S.Korea central bank
By Soo-hyang Choi SEOUL – North Korea’s economy shrank in 2021 for a second straight year after suffering its biggest contraction in more than two decades the previous year amid U.N. sanctions…
S.Korea fin min: inflation seen peaking by Sept-Oct
SEOUL – South Korean inflation is seen reaching its peak by September or October unless there are price surges again for such items as oil and grains, the country’s finance minister said…
U.S. helicopters hold first live-fire drills in S.Korea since 2019
By Josh Smith SEOUL -U.S. Army Apache attack helicopters based in South Korea are holding live-fire drills with rockets and guns for the first time since 2019, as the allies step up…
S.Korea to cut taxes for companies, workers and retail investors
By Jihoon Lee and Cynthia Kim SEOUL – South Korea on Thursday proposed a series of tax cuts for companies, workers and retail investors in stocks to support private-sector led economic growth…
Hyundai Motor, S.Korea union reach tentative wage deal
By Jihoon Lee and Heekyong Yang SEOUL -Hyundai Motor said on Tuesday it has reached a tentative wage deal with its South Korean labour union, potentially avoiding a strike and production losses…
S.Korea policymakers to closely monitor impact of rising interest rates
SEOUL – South Korea’s finance ministry and central bank said on Monday they had agreed to cooperate in minimizing adverse risks of rising interest rates on vulnerable households and businesses. In a…
S.Korea authorises AstraZeneca COVID therapy Evusheld for vulnerable people
SEOUL – South Korea on Thursday authorised AstraZeneca PLC’s antibody-based therapy for preventing COVID-19 infection in people with a poor immune response, increasing its options as it works to ease the pandemic…
S.Korea approves first domestically developed COVID vaccine
SEOUL – South Korea approved its first domestically developed COVID-19 vaccine, manufactured by SK bioscience Co Ltd, for general public use following positive clinical data, authorities said on Wednesday. The SKYCovione vaccine…
S.Korea June 1-10 exports shrink 12.7%, trade deficit at $6 billion
SEOUL – South Korea’s exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday. The country’s imports grew 17.5%,…
S.Korea POSCO to halt some plants due to trucker strike -company spokesperson
SEOUL – South Korea’s POSCO said on Sunday it plans to halt production at some of its plants in the country from Monday due to a glut of finished products that could…
S.Korea plans to manage steel scrap as strategic asset as prices surge
SEOUL – South Korea plans to manage steel scrap from cars and abandoned buildings and structures as a strategic material, a government official said on Thursday, amid tight supplies and a price…
S.Korea Q1 GDP growth revised slightly down to 0.6%
SEOUL – South Korea’s economy grew by a seasonally adjusted 0.6% in the first quarter from three months earlier, slightly lower than 0.7% growth estimated earlier, revised central bank data showed on…
S.Korea May inflation hits near 14-yr high, beats expectations
By Jihoon Lee and Choonsik Yoo SEOUL -South Korea’s consumer inflation picked up more than expected in May to a near 14-year high on a global surge in materials and food costs,…
S.Korea export growth seen rebounding in May; inflation tops 5%- Reuters poll
By Jihoon Lee SEOUL – South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while consumer inflation is seen rising above 5%…
Having shipped artillery shells to Ukraine, Canada asks S.Korea for more
By Soo-hyang Choi SEOUL – Canada has asked South Korea to supply it with artillery rounds, Seoul said on Monday, apparently to “backfill” supplies that Ottawa has sent to Ukraine, upping pressure…
Hyundai Motor Group to invest $50 billion in S.Korea through 2025
SEOUL – Hyundai Motor Group said on Tuesday it plans to invest 63 trillion won ($49.86 billion) in South Korea through 2025 to strengthen its competitiveness in different business fields, including electrification,…
Biden Secret Service agents sent home after drunk assault report in S.Korea
By Trevor Hunnicutt and Joori Roh SEOUL -Two U.S. Secret Service agents who were working on Joe Biden’s trip to Asia are being sent home after one was accused of drunkenly assaulting…
S.Korea April unemployment rate stays at historical low for 3rd month
SEOUL – South Korea’s unemployment rate remained at a historical low for a third month in April, while the number of people employed increased for a 14th straight month, the government data…
S.Korea April FX reserves fall on stronger dollar, intervention
SEOUL – South Korea’s foreign exchange reserves measured in U.S. dollars shrank by the most in more than two years in April on the dollar’s strength and dollar-selling intervention by the authorities,…
S.Korea April export growth to hit 14-mth low; inflation near 11-yr high: Reuters poll
By Jihoon Lee SEOUL – South Korea’s exports are expected to have posted their slowest growth in 14 months in April while consumer inflation is seen hitting a near 11-year high, a…
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