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Samsung, SK, Hanwha, Hyundai bet $194 bln on southeastern Korea
SEOUL, July 03 (AJP) - South Korea's ambition to build a "Chip Republic" expanded well beyond semiconductors on Friday, as four of the country's largest conglomerates pledged a combined 297 trillion won ($194.3 billion) to build artificial intelligence data centers, robot factories, defense systems.
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Seoul weighs tax breaks for SMRs to power Yeongnam industrial push
SEOUL, July 03 AJP) - South Korea's government said it is reviewing tax incentives, including possible designation of small modular reactors (SMRs) as a national strategic technology, to support a sweeping industrial buildout in the country's southeastern Yeongnam region.
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From Starbucks to teen baseball, May 18 mockery carries a dear price
SEOUL, July 03 (AJP) -Starbucks' May 18 controversy continues to reverberate across South Korea, with the country's largest coffee chain under Shinsegae Group paying for the blunder through a dent in sales while a Seoul high school baseball team is seeking forgiveness from a rival school in Gwangju.
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Court terminates Homeplus rehabilitation bid
SEOUL, July 03 (AJP) - The Seoul Bankruptcy Court terminated the corporate rehabilitation proceedings of Homeplus on Friday, putting South Korea's second-largest retail chain on a path toward bankruptcy unless a buyer steps forward in the coming weeks. Rehabilitation Division 4 of the court, headed by Jung Jun-young, president of the Seoul Bankruptcy Court, who presided over the case, ruled that the rev
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Korea's FX reserves edge up in June as ranking slips
SEOUL, July 03 (AJP) -South Korea's foreign exchange reserves rose slightly in June, helped by a stronger dollar, but its global ranking slipped one notch, reflecting the cost of defending a stubbornly weak won, central bank data showed Friday.
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Canada-led global defense bank may include South Korea
SEOUL, July 03 (AJP) - Canada plans to announce a group of about 10 countries expected to join a proposed global defense bank at next week’s NATO summit in Türkiye, with South Korea among the potential members, Reuters reported Thursday.
Korea-Japan weak currency coupling tells different stories
SEOUL, July 02 (AJP) - For South Korean policymakers battling a persistently weak won, the culprit is relatively straightforward: heavy foreign selling of Korean equities and an insatiable domestic appetite for dollar-denominated assets. The picture is more puzzling in Japan. Despite record foreign buying of Japanese stocks this year, the yen has continued to languish near multi-decade lows, defying the conventional expectation that capital inflows should support a country's currency. The
by Kim Yeon-jae
China races past Japan, eyes 10 million car exports
SEOUL, July 02 (AJP) - China is on pace to export nearly ten million vehicle units this year, according to global consulting firm AlixPartners' 23rd annual Global Automotive Outlook, released June 25. The expected export volume would be a jump from 7.1 million units in 2025, marking the fastest expansion yet for the Chinese automobile industry that, for most of its history, built cars almost entirely for its own drivers. For decades, exports were an afterthought in China's car industry.
Bond rally signals sobriety on Korea's economy – weak without chips
SEOUL, July 03 (AJP) - From the look of the sovereign bond market in July, South Korea's economy is running solidly on strong exports while inflation, despite energy shocks from the prolonged Gulf crisis, remains broadly contained around 3 percent, suggesting the Bank of Korea may need no more than one additional rate hike from the current 2.50 percent. Compared with the wild swings in equities and the won's slide to near three-decade lows, South Korea's bond market has remained rem
Korea's chip republic meets the law of semiconductor cycles
SEOUL, July 03 (AJP) -The market has finally started asking the uncomfortable question. For the last 18 months, investors treated AI memory as a one-way trade. High-bandwidth memory (HBM) shortages, exploding AI server demand and the near-duopoly of Samsung Electronics and SK hynix turned South Korea into the center of the global AI hardware story. After Seoul unveiled a string of government-backed semiconductor mega projects swelling above $1 trillion across Yongin, Honam and Chungcheong, inv
South Koreans must choose their words under new online rules
Stock investing in Korea now means buying Samsung and SK hynix
