SEOUL, April 9 (Korea Bizwire) — The National Pension Service (NPS), South Korea’s largest institutional investor, recorded a notable increase of more than ₩8 trillion in the market value of its domestic stock holdings during the first quarter of 2025, buoyed by surging defense and shipbuilding stocks. According to financial data provider FnGuide, as of [...]
SEOUL, April 8 (Korea Bizwire) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, said Tuesday it has received a 477.8 billion-won (US$325 million) order to build four oil carriers in the Oceania region. Samsung Heavy plans to deliver the four vessels in phases to an unidentified Oceanian shipper by December 2028, the [...]
SEOUL, April 8 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung will deliver a keynote speech at a U.S. forum expected to be attended by many key industry figures, including the top executive of General Motors Co. (GM), event organizers said. The forum, Automotive News Congress, will be held Sept. 11 in Detroit [...]
SEOUL, April 8 (Korea Bizwire) — South Korean defense giant Hanwha Aerospace Co. said Tuesday it has signed a 402.6 billion-won (US$274.3 million) deal to supply key components for Poland’s self-propelled howitzers. Under the agreement with Poland’s state-run Huta Stalowa Wola (HSW), the South Korean company will deliver components, including powerpacks, to be integrated into [...]
SEOUL, April 8 (Korea Bizwire) — South Korea logged a current account surplus for the 22nd consecutive month in February on rising exports, central bank data showed Tuesday. The country’s current account surplus reached US$7.18 billion in February, following a $2.94 billion surplus the previous month, according to the data compiled by the Bank of [...]
SEOUL, April 7 (Korea Bizwire) — The foreign ministry said Monday that a South Korean sea salt farm recently placed under U.S. import restrictions is no longer involved in forced labor, after the U.S. customs agency’s ban on its products over alleged labor abuses. The U.S. Customs and Border Protection (CBP) said Thursday (U.S. time) [...]
SEOUL, April 7 (Korea Bizwire) — KG Mobility Corp., a South Korean carmaker, said Monday it has added the Actyon sport utility vehicle (SUV) to its lineup in Germany as part of its strategy to boost sales in Europe. It is the second time for KG Mobility to launch the Actyon SUV in an overseas [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s economy is facing “mounting” downside risks due to sluggish production and heightened trade uncertainties sparked by U.S. tariffs, a state-run economic think tank said Monday. “Recently, the Korean economy is facing mounting downward pressure as weakened growth in domestic and external demand has weighed on production and [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s largest banks posted record-breaking profits in 2024, yet their hiring of entry-level employees remained flat or declined, drawing criticism for neglecting their social responsibility to create jobs—particularly for young job seekers facing a worsening employment climate. According to data obtained by Rep. Kim Hyun-jung of the National [...]
SEOUL, April 7 (Korea Bizwire) — The South Korean market could face heightened volatility for a longer-than-expected period due to the Donald Trump administration’s sweeping tariff policy, the central bank said Monday, calling for prompt implementation of market stabilization measures when necessary. Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai made the assessment during an [...]