Trump's trade policies could have both pros and cons for South Korea. The finance ministry expects Washington’s heavy tariffs on Chinese batteries, if imposed, to enhance the price competitiveness of South Korean battery manufacturers and allow them to emerge as key players in the global supply chain.
Container terminals at the Port of Busan, South Korea (File photo by Hyuk Choi) South Korea’s exports dropped in January on-year for the first time in 16 months due to more holiday days in the month, although overseas sales of semiconductors, the country’s top export item, increased
The Kia EV9 on display at Incheon International Airport South Korea’s second-largest automaker Kia Corp. on Friday posted its highest-ever annual sales, operating profit and profit margins in 2024, driven by brisk sales of pricey SUVs and hybrid models.With its 11.8% annual profit margin,
Empty shops on Seoul street wait for new tenants (Courtesy News1 Korea) South Korea’s economy expanded 2.0% last year, falling short of the central bank’s forecast on weaker-than-expected growth in the fourth quarter amid dwindling private consumption further subdued by the co
Hyundai and Kia cars at a port (Courtesy of Hyundai Motor) Hyundai Motor Co. and its sibling Kia Corp. together shipped a record-high number of eco-friendly cars to overseas markets last year thanks to strong demand for their hybrid models amid the prolonged electric vehicle chasm. South
Containers at a port in Incheon (Courtesy of Yonhap) Global credit rating agencies are warning of looming downward pressure on South Korea’s sovereign credit rating about a month after Asia’s fourth-largest economy was abruptly marred by political chaos following its president&rsquo
Korea saw its exports reach a record high in 2024 South Korea’s exports, the country’s main growth driver, reached an all-time high in 2024, buoyed by strong semiconductor exports and a rebound in shipments to China.Korea’s outbound shipments rose 8.2% from a year earlier to a
Acting President Choi Sang-mok convenes the National Security Council at the government complex building in Seoul on Dec. 27, 2024 (Courtesy of Yonhap) South Korea’s new Acting President Choi Sang-mok said on Friday he is confident that the country’s economy is resilient and its nat
National Assembly Speaker Woo Won-shik Han Duck-soo, South Korea’s acting president and prime minister, was impeached in Parliament on Friday amid a deepening political crisis battering the already weak economy, Asia’s fourth-largest.This marks the first time in the nation’s h
Samsung Electronics Chairman Jay Y. Lee (far right) inspects the semiconductor packaging line at the Samsung Cheonan Factory in Cheonan, Korea (Courtesy of Samsung) South Korea will inject 274.4 billion won ($200 million) into a state-run R&D project for semiconductor packaging techno
Lee Jong-ho, minister of science and ICT, announces the government's plan to boost quantum technology by 2035 (Courtesy of Yonhap News) South Korea will pour more than 3 trillion won ($2.3 billion) into quantum science and technology by 2035, aiming to become the world’s fourth-largest po
President Yoon Suk Yeol presides over a national strategy meeting for the rechargeable battery industry on April 20 (Courtesy of Yonhap News) South Korea will invest 20 trillion won ($15.1 billion) in the rechargeable battery sector by 2030 to widen its technology gap with global competitors, P