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SK hynix rings in Nasdaq debut with record U.S. share sale SEOUL, July 10 (AJP) - SK hynix began trading on the Nasdaq Global Select Market on Friday after raising a record $26.5 billion in the largest U.S. share sale by a foreign company.
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SK hynix ADR: From rescued chipmaker to Wall Street's hottest foreign listing SEOUL, July 10 (AJP) - SK hynix has gone from one of South Korea's biggest corporate rescues to Wall Street's biggest foreign share sale, raising a record $26.5 billion on Nasdaq just 14 years after SK Group acquired the struggling memory maker for roughly $3 billion.
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SK hynix ADR: An epic Korea Inc. drama from penny stock to blockbuster SEOUL, July 10 (AJP) - Few Korean stocks have rewarded investors—or punished them—as dramatically as SK hynix. The memory chipmaker, whose Nasdaq American depositary receipts became the largest U.S. equity offering ever by a foreign issuer this week, once traded at just 135 won.
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Korean LCCs face uneven summer recovery despite easing fuel costs
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South Korea to reassess single-stock leveraged ETFs amid volatility concerns
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US wants Korean chipmakers to make memory in US: Lutnick SEOUL, July 10 (AJP) -The United States is ratcheting up pressure on South Korea's memory chipmakers to expand manufacturing in the United States after Seoul unveiled nearly 1 quadrillion won ($650 billion) in new domestic semiconductor investment plan last week. -
BTS' 'SWIM' lawsuit centers on alleged path from demo to hit song SEOUL, July 10 (AJP) - A copyright lawsuit over BTS' chart-topping single "SWIM" is focusing not only on alleged musical similarities. -
Seoul says U.S. may consider building military ships in Korean yards SEOUL, July 10 (AJP) - South Korea’s presidential office said Washington does not appear to rule out the possibility of having U.S. military vessels built in Korean shipyards, even as existing U.S. law poses major barriers to foreign construction of Navy ships. -
Samsung union blasts bonus voucher plan SEOUL, July 10 (AJP) - Samsung Electronics' largest labor union on Friday urged lawmakers to withdraw a proposed revision to South Korea's Labor Standards Act that would allow part of workers' wages, including performance bonuses, to be paid in local gift certificates with employee consent.
ASIA Insight>
Türkiye's NATO moment arrives, but the price of trust remains unpaid SEOUL, July 09 (AJP) - For years, Türkiye occupied an uncomfortable place inside NATO: too important to expel, too difficult to embrace. It was the ally that bought a Russian air defense system over Washington’s objections. The country that refused to join Western sanctions against Moscow after Russia’s full-scale invasion of Ukraine. The state that could sell drones to Kyiv while keeping open channels to the Kremlin. The government whose president, Recep Tayyip Erdogan, jaile by Lee Jung-woo
The missing ingredient in Korea's AI cake: a foundation model
SEOUL, July 08 (AJP) - "Seize this opportunity," Nvidia CEO Jensen Huang exclaimed during his visit to South Korea last month, calling the country one of the few capable of owning the entire AI stack — from energy and memory to data-center infrastructure, AI models and applications. Huang may have overrated Korea. By almost every measure, South Korea is among the world's most enthusiastic adopters of artificial intelligence. Yet one crucial ingredient remains missing: a hom
AJP Focus>
Korea's rate hike to 2.75% in July seen unanimous in AJP poll SEOUL, July 10 (AJP) - The Bank of Korea is expected to resume monetary tightening next week with its first interest-rate increase in three and a half years, according to an AJP survey of economists, with an overwhelming majority also expecting another rate hike before the end of the year. All 10 economists surveyed by AJP forecast the Monetary Policy Board will raise the benchmark interest rate by 25 basis points to 2.75 percent from 2.50 percent at its July 16 meeting, marking the central ban
The mystery behind the near-flat Korea-U.S. sovereign yield gap
SEOUL, July 09 (AJP) - Foreign appetite for South Korean sovereign bonds has stayed firm this year even as investors dumped Korean equities, but that has not stopped bond prices from falling. The spread between Korean and U.S. 10-year government debt has narrowed to less than 30 basis points, even though the policy-rate gap between the Bank of Korea and the Federal Reserve remains wider than 100 basis points. As of midday Thursday, Korea’s 10-year government bond yielded 4.282 percent, w
