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To sell or not to sell, that is the question in Seoul
SEOUL, October 15 (AJP) — South Korean retail investors are caught between a market tailspin and faint hopes of a repeat of the first-half rally as mounting losses make it increasingly costly and painful to unwind stock positions financed by more than 34 trillion won ($25.22 billion) in borrowed money.
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TSMC and ASML earnings suggest chip binge is far from over
SEOUL, October 15 (AJP) - Contrary to the panicky selloff in chip stocks over fears of an overhyped AI boom, stellar earnings and bullish guidance from Taiwan’s TSMC and Dutch equipment maker ASML suggest the chip binge is far from over.
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Seoul, USFK look at different timetables for wartime OPCON transfer
SEOUL, October 15 (AJP) - South Korea and U.S. Forces Korea are sounding like a broken record as they repeat differing views over the conditions and timing for transferring wartime operational control to Seoul. Gen. Xavier Brunson, commander of U.S. Forces Korea (USFK).
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Samsung takes AI push from Silicon Valley to Vietnam
SEOUL, October 15 (AJP) - Samsung Electronics held separate events in the United States and Vietnam this week, showcasing AI-powered telecom technologies in Silicon Valley and smart appliances and cooling systems in Hanoi.
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Korea's M2 growth slows in rate-hike wake Aug
SEOUL, October 15 (AJP) — South Korea's broad money growth slowed for a second month in August, while the monthly pace accelerated amid larger inflows of corporate funds into short-term deposits and trusts after the central bank hinted more tightening following back-to-back rate hikes.
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Korea's lending to household cools, firms rise amid tightening
SEOUL, October 15 (AJP) — South Korean bank household lending barely grew in September under tightening cycle while lending to large firms surged as they rushed to secure funds for bond repayments and capital expenditure before borrowing rates went higher.
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Defense chair warns against security gaps in Gwangju relocation
SEOUL, October 15 (AJP) - The head of South Korea's parliamentary defense committee warned Thursday that relocating a major military air base to make way for a massive semiconductor manufacturing complex must not compromise national security or military readiness.
South Korea can help close AI divide: World Bank VP
SEOUL, October 15 (AJP) - South Korea’s digital expertise, manufacturing strength and rapid modernization make it well placed to help narrow a global wealth divide that artificial intelligence could deepen, a senior World Bank executive said. “What we call Big AI is an ecosystem dominated by just a handful of advanced countries — not even all advanced countries — and a small number of global corporations,” said Kim Sangbu, the World Bank Group’s vice presiden
by Lee Jung-woo
Ukraine war poses different stakes for South Korea, Japan
SEOUL, October 14 (AJP) - The Russia-Ukraine war is nearing the five-year mark with little sign of an exit, with both sides expanding attacks on energy infrastructure and extending the war’s repercussions to draw East Asian countries closer to the epicenter. Japan has entered a defense deal with war-engaged Ukraine to purchase battlefield-tested Ukrainian interceptor drones. South Korea is equally engaged with Kyiv but in the opposite direction — a diplomatic spat triggered by Ukrai
Korean bonds join global safe-haven rally on equity rout
SEOUL, October 15 (AJP) — An equity rout driven by concerns over AI overspending is steering investors toward government bonds in Seoul and other major markets despite stronger-than-expected U.S. inflation and the prospect of a prolonged monetary tightening cycle. The three-year Korean government bond yield closed Thursday 1.6 basis points lower at 3.867 percent, while the 10-year yield fell 6.8 basis points to 4.193 percent, its lowest since Aug. 5. The 20-year and 30-year yields droppe
Will Sejong make the FSC a backseat driver in Korean finance?
SEOUL, October 14 (AJP) - The Financial Services Commission (FSC) got its orders to move to Sejong on Tuesday. On Wednesday, it was running command in central Seoul against a hacking spree that has hit 16 financial companies, the kind of crisis that relocation will soon test. After second emergency response meeting held Wednesday at Government Complex Seoul, the FSC said intrusions had been confirmed across banks, savings banks, mutual finance, card and capital firms, peer-to-peer lenders and c
South Korea, Japan agree to extend currency swap deal for another 3 years
South Korea's laser air defenses down all three drones in Army drill
