South Korean stocks ended almost flat Thursday thanks to gains in techs and autos despite higher-than-expected US inflation that dimmed hopes for the Federal Reserve's early rate cuts. The Korean won sharply fell to the lowest point in 17 months against the US dollar. After starting 1.45 percent lower, the benchmark Korea Composite Stock Price Index pared earlier losses by rising 1.8 points, or 0.07 percent, to close at 2,706.96. Trade volume was moderate at 522.4 million shares worth 12.5

Former corporate executives who ran for a seat at the National Assembly received mixed results as the votes from the general election were announced Thursday. The two headliners -- Koh Dong-jin, former president of Samsung Electronics, and Kong Young-woon, former president of Hyundai Motor -- found each other on opposite ends of the spectrum as the former won while the latter suffered a loss. Koh, who joined the ruling People Power Party in January, confirmed victory in the Gangnam-C constituenc

South Korea is largely aligned with the US government’s export curbs on chips to China, but it is also making efforts to maintain trade ties with Beijing, Korea’s trade minister said in the US on Wednesday. Minister of Trade, Industry and Energy Ahn Duk-geun, who is visiting the US for the first time after he was inaugurated in January this year, added that the government is working to ensure the US trade curbs do not hurt the interests of Korean chipmakers. "Our basic stance is

South Korean stocks started sharply lower Thursday as higher-than-expected US inflation data poured cold water on investors' hopes for early rate cuts. The benchmark Korea Composite Stock Price Index plunged 39.34 points, or 1.45 percent, to 2,665.82 in the first 15 minutes of trading. Overnight, major US indexes lost ground as the release of a key measure of inflation dashed investors' hopes that the Federal Reserve may start cutting its rates soon. The US' consumer price index f

Unlike in previous elections, a single industrial sector has drawn keen attention among major parties and voters in the run-up to the April 10 general election. The sector in question is none other than the country’s crucial semiconductors industry, which accounts for about 20 percent of the country's exports. What’s more, the chips industry is expected to take center stage among policymakers regarding legislative efforts and policy support, even after the general election has c

Samsung Electronics retained its No. 1 spot in the US home appliance market for an eighth consecutive year, dating to 2016, thanks to strong sales of key household products including refrigerators and washers, industry data showed Wednesday. According to market tracker TraQline, Samsung notched a 20.9 percent market share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percen

The Samsung Innovation Museum, Korea's largest electronics industry museum, located at Samsung Electronics' headquarters in Suwon, Gyeonggi Province, marks its 10th on April 21. Since its grand opening in 2014, the museum has attracted some 500,000 visitors from 180 countries, including state guests from 23 countries. The 10,950-square-meter museum houses some 150 historical products such as light bulbs invented by Thomas Edison, transistor radios and TVs, as well as a multi-purpose Sa

In elections, the big shot politicians don’t always get to clinch easy wins. In the April 10 general election, five prominent figures of South Korean party politics are vying for parliamentary seats via constituency races. The outcomes of these contests are poised to have a significant potential impact on their future paths. A defeat, in particular, could cast their political futures into doubt. How will they fare? Below is an overview of the five races. Lee Jun-seok Lee Jun-seok, who,

Samsung Electronics is striving to shed the reputation of its flagship Galaxy smartphones as "ajeossi" phones among teens and users in their 20s, with short films starring popular TV celebrities. An "ajeossi" is an older married man or an uncle in Korean, but in this context, it implies a sense of being "old" or "out of style." The world's largest smartphone maker by shipment said its short film series, “S24 Hours Movie Series,” starring a

South Korean stocks ended lower Tuesday as investors grew more cautious ahead of parliamentary elections and the release of key US inflation data later this week. The Korean won fell against the US dollar. After starting higher, the benchmark Korea Composite Stock Price Index lost 12.49 points, or 0.46 percent, to close at 2,705.16. Trade volume was moderate at 458.4 million shares worth 9.48 trillion won ($6.99 billion), with decliners outpacing gainers 489 to 370. Institutions bought stocks wo

Samsung Electronics is set to receive between $6 billion and $7 billion in grants from the US government next week as the Korean chipmaker looks to bolster its US production, Reuters reported Monday. According to the report citing anonymous sources, the subsidy from the Biden administration will be used for the construction of four semiconductor facilities in Taylor, Texas. The subsidy-impacted facilities are a $17 billion chipmaking plant Samsung announced in 2021, another chip factory, an adva

Lee Boo-jin, the president and chief executive of Hotel Shilla, will reportedly sell some 440 billion won ($325 million) in Samsung Electronics stock, in an apparent bid to pay off her inheritance tax. Industry sources revealed Tuesday that Lee, a member of the Samsung Group founding family, is assessing buyer demand for a block deal involving 5,247,140 shares in the tech giant. Should the sale proceed, her shareholding in Samsung Electronics would decrease from 0.89 percent to 0.8 percent. The

President Yoon Suk Yeol on Tuesday rolled out a massive spending package to nurture the domestic chip industry and bolster artificial intelligence technology deployment through the AI-Chip Initiative. By 2027, Seoul will spend 9.4 trillion won ($6.94 billion) on AI chips, which are chips sophisticated enough to perform AI tasks and those that use AI technology to achieve greater power efficiency. The country will also introduce a new 1.4 trillion-won fund to spur the development of innovative te

Big companies in South Korea increased their investments in research and development activities last year despite decreased earnings, a corporate data tracker said Tuesday. Their combined R&D investments rose 9.4 percent to 73.42 trillion won ($54 billion) in 2023 from 67.14 trillion won a year earlier, according to a recent survey of 224 firms by the data tracker CEO Score. They suffered declines in sales and operating profit due to an economic slowdown but they executed their planned R&

South Korean stocks started higher Tuesday ahead of parliamentary elections and the release of key US inflation data later this week. The benchmark Korea Composite Stock Price Index gained 18.76 points, or 0.69 percent, to 2,736.41 in the first 15 minutes of trading. Overnight, major US indexes were almost flat as investors awaited the March consumer price index report, a key measure of inflation, to be released later this week. Investors' eyes are also on the results of South Korea's