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Germany's TKMS reportedly picked for Canada submarine program
SEOUL, July 06 (AJP) - Canada on Monday selected Germany’s TKMS as the preferred bidder for its plan to acquire up to 12 new submarines, choosing the Type 212CD over South Korea’s KSS-III Batch-II. Canadian Prime Minister Mark Carney announced the decision in Halifax, Nova Scotia, shortly before departing for a NATO summit in Türkiye. The selection gives the German-Norwegian pr
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Hanwha Ocean stock flies ahead of imminent Canada announcement
SEOUL, July 06 (AJP) - From Hanwha Ocean's share price, investors appear to believe its victory—or at least a sizable share—in Canada's multibillion-dollar submarine program is all but assured. Hanwha Ocean ended Monday up 7.3 percent at 114,700 won.
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Seoul's 24-hour FX market tests local banks' staffing capacity
SEOUL, July 06 (AJP) - South Korea began round-the-clock foreign exchange trading on Monday, but while the country's largest lenders are relying on overseas dealing desks to cover the new hours, smaller regional banks say they are scrambling to find enough people to stay awake.
Hyundai takes Asia's humanoid race beyond the dance floor
SEOUL, July 06 (AJP) - Hyundai Motor reclaimed the 500,000-won threshold Monday, rising 2 percent even as the broader market retreated, after its growing robotics portfolio quietly stole attention from investors otherwise fixated on Samsung Electronics' earnings guidance due the following day. Boston Dynamics' Atlas humanoid robot, owned by Hyundai Motor Group, showcased a series of football-inspired celebrations during halftime of the Brazil-Norway World Cup round-of-16 match at MetLif
by Joonha Yoo
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
Durability of Seoul's bull questioned as leverage exceeds retail trade
SEOUL, July 06 (AJP) — As the KOSPI correction enters a third week, retail investors remain the primary buffer against relentless foreign selling, but much of their firepower is borrowed, raising questions about the durability of Seoul's record-setting bull market. Outstanding margin loans and stock-backed lending averaged a record 61.98 trillion won ($39.8 billion) per trading day during the April-June quarter, exceeding the combined average daily trading value of 52.5 trillion won o
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
LG Electronics seen posting solid Q2 on AI cooling, auto parts
South Korea picks Gwangju military airport site for Honam chip cluster
Samsung Electronics awards up to 100% bonus to chip division for first half SEOUL, July 06 (AJP) - Samsung Electronics said on Monday it will pay performance bonuses of up to 100 percent of monthly base salary to employees in its semiconductor division for the first half of the year.
Seoul high school baseball team seeks forgiveness in Gwangju over May 18 taunts SEOUL, July 06 (AJP) -Kids or not, South Koreans are learning that mockery of historic tragedies comes with serious accountability, as Seoul-based Paichai High School's baseball team traveled to Gwangju on Monday to offer a formal apology.
Korea's Air Force, SNU launch AI initiative to reshape aerospace warfare SEOUL, July 06 (AJP) - Seeking to accelerate its digital frontline transformation, the South Korean Air Force has partnered with Seoul National University (SNU) to develop three key AI technologies that can be directly deployed in military operations.
Hyundai's Atlas robot steals show at World Cup halftime SEOUL, July 6 (AJP) - Hyundai Motor has showcased its next-generation humanoid robot Atlas, developed by its subsidiary Boston Dynamics, at this year's World Cup, reflecting the automaker's robotics ambitions.
