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Korean Conglomerates Mobilize Against U.S. Tariff Risks with Local Production and Inventory Strategies

Korean Conglomerates Mobilize Against U.S. Tariff Risks with Local Production and Inventory Strategies

SEOUL, April 25, (Korea Bizwire) — South Korea’s largest corporations are ramping up their responses to the renewed threat of U.S. tariffs under the Trump administration by stockpiling inventory and expanding production within the United States, signaling a shift toward more aggressive contingency planning. During first-quarter earnings calls on April 24, companies across the automotive, [...]

Seoul Shares End Higher on Hopes for Smooth U.S. tariff Negotiations

Seoul Shares End Higher on Hopes for Smooth U.S. tariff Negotiations

  SEOUL, April 18 (Korea Bizwire) — South Korean stocks finished higher Friday as investors bet on smooth tariff negotiations between the United States and its trading partners. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 13.01 points, or 0.53 percent, to close at 2,483.42. Trade [...]

Acting President Says Trump Apparently Ordered Immediate Tariff Negotiations with S. Korea, Japan, India

Acting President Says Trump Apparently Ordered Immediate Tariff Negotiations with S. Korea, Japan, India

SEOUL, April 14 (Korea Bizwire) — Acting President Han Duck-soo said Monday that U.S. President Donald Trump “apparently” instructed his administration to conduct immediate tariff negotiations with South Korea, Japan and India. Han made the remark during a meeting with government officials and large business executives, referring to Trump’s actions after they held a phone [...]

Korean Markets Whiplashed by Tariff Shock and Won Volatility Surge

Korean Markets Whiplashed by Tariff Shock and Won Volatility Surge

SEOUL, April 13 (Korea Bizwire) — Volatility in South Korea’s foreign exchange market surged to its highest level last week since the country extended trading hours for the won–U.S. dollar market, data showed Sunday. The weekly fluctuation in the won–dollar exchange rate reached 67.6 won during the second week of April, which marked the highest [...]

U.S. Shows Willingness to Handle Tariff Talks Smoothly with S. Korea: Trade Minister

U.S. Shows Willingness to Handle Tariff Talks Smoothly with S. Korea: Trade Minister

INCHEON, April 11 (Korea Bizwire) — The United States has expressed a willingness to handle the tariff negotiations with South Korea and Japan as smoothly as possible, Seoul’s Trade Minister Cheong In-kyo said Friday, describing the U.S.’ openness as a key outcome of his visit to Washington. “We held various discussions aimed at ensuring smooth [...]

Seoul Shares Rally Over 6 Pct on U.S. Reciprocal Tariff Pause; Korean Won Soars

Seoul Shares Rally Over 6 Pct on U.S. Reciprocal Tariff Pause; Korean Won Soars

SEOUL, April 10 (Korea Bizwire) – South Korean stocks rallied 6.6 percent Thursday as the U.S. administration’s temporary pause of reciprocal tariffs on South Korea improved market sentiment. The Korean won was trading sharply higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) soared 151.36 points, or 6.6 percent, to close [...]

Customs Agency Launches Special Unit to ‘Preemptively’ Respond to U.S. Tariff Impact

Customs Agency Launches Special Unit to ‘Preemptively’ Respond to U.S. Tariff Impact

SEOUL, March 28 (Korea Bizwire) — The Korea Customs Service (KCS) said Friday it has launched a special unit to “preemptively” protect domestic companies from potential fallout due to the latest tariff measures by the U.S. administration. The team aims to minimize anticipated disruptions stemming from U.S. President Donald Trump’s planned reciprocal tariffs, which are [...]

S. Korea’s Potential Participation in Alaska LNG Project to Look ‘Favorably’ in Tariff Talks with U.S.: Dunleavy

S. Korea’s Potential Participation in Alaska LNG Project to Look ‘Favorably’ in Tariff Talks with U.S.: Dunleavy

SEOUL, March 27 (Korea Bizwire) — South Korea’s possible participation in the Alaska liquefied natural gas (LNG) project will likely be viewed “favorably” in tariff negotiations with the Donald Trump administration, Alaska’s governor has said. Alaska Gov. Mike Dunleavy made the remarks in a roundtable interview with Yonhap News Agency and other news outlets on [...]

Gov’t Moves to Shield Steel Industry from U.S. Tariffs and Chinese Dumping

Gov’t Moves to Shield Steel Industry from U.S. Tariffs and Chinese Dumping

SEOUL, March 20 (Korea Bizwire) — The South Korean government has unveiled a comprehensive plan to protect its steel industry from mounting trade risks, including the recent 25% tariff imposed by the Trump administration in the United States and an influx of low-cost Chinese steel. The Ministry of Trade, Industry and Energy announced on Wednesday [...]

Hyundai Steel Shifts to Emergency Management Mode amid Tariff, Labor Woes

Hyundai Steel Shifts to Emergency Management Mode amid Tariff, Labor Woes

SEOUL, March 14 (Korea Bizwire) — Hyundai Steel Co. said Friday it has shifted to an emergency management mode in response to growing challenges, including the recent imposition of steel tariffs by the United States and an ongoing strife with unionized workers. The company announced that all executives have taken a 20 percent pay cut effective Thursday, [...]