South Korea’s financial regulator has put the brakes a 2.4 trillion won ($1.7 billion) rights offering by Hanwha Solutions, in a move that is drawing attention to the group’s broader capital-raising practices and governance structure. The Financial Supervisory Service (FSS) on April 9 ordered the company to revise its securities filing, citing incomplete formal requirements and insufficient or unclear disclosure of key information that could hin
It remains uncertain whether — or how — the war will wind down and the Strait of Hormuz will fully reopen after U.S.-Iran negotiations in Pakistan on Saturday. But one thing is already clear: access to the strategic waterway along Iran and Oman will not return to what it was. Against those odds — and the rising cost burden — Seoul is moving to rethink its energy routes. A presidential envoy mission to Kazakhstan, Oman and Saudi Arabia
LG Energy Solution posted a widening operating loss for the first quarter of 2026, marking its second consecutive quarterly deficit as a prolonged slump in global electric vehicle demand and a sharp drop in U.S. tax credits eroded profitability at the world's No. 2 battery maker. The company said in a preliminary regulatory filing on Tuesday that it logged a consolidated operating loss of 207.8 billion won ($138.7 million) for the January to March period,
About 2.8 million barrels of crude oil have been supplied to refiners just a week after the launch of an "oil swap" program, which lends government-owned stockpiles to help them secure alternative supplies, the Ministry of Trade, Industry and Energy said on Tuesday. At a daily briefing at the government complex in the administrative city of Sejong, Yang Gi-uk, a ministry official, said the country's four major refiners had applied to swap more th
A surge in oil prices has given domestic refiners a short-term boost, but industry watchers warn that their gains may quickly evaporate as market volatility and supply constraints are expected to continue amid the prolonged conflict in the Middle East. At least until last month, refiners managed to keep operations steady by relying on existing inventories and alternative supplies, but risks are rising as crude prices swing sharply and securing feedstock beco
South Korea is scrambling to shore up dwindling energy supplies and diversify away from the Middle East after U.S. President Donald Trump ruled out an immediate end to the Iran war, vowing instead to hit Iran "extremely hard over the next two to three weeks." In a primetime address from the White House on Thursday, Trump made clear the operation would last through April, destabilizing not just Iran's military infrastructure but also the core Mi
Flying out of South Korea is fast becoming a luxury, as airlines this month slapped on fuel surcharges up to three times higher, passing on the surge in jet fuel prices driven by Middle East conflicts. For long-haul routes to the United States and beyond, passengers now face up to 600,000 won ($398) in additional round-trip costs from fuel surcharges alone. With oil prices still climbing, further increases are expected as early as next month. Industry data
SEOUL, March 30 (AJP) -Samsung Group, long seen as union-proof, is facing back-to-back labor unrest as its biopharmaceutical arm Samsung Biologics moved toward its first-ever strike, joining a parallel standoff at Samsung Electronics. The union at Samsung Biologics secured strike authorization with overwhelming support, marking the first such move since the company’s founding in 2011. About 95.5 percent of 3,678 eligible voters backed industrial action after months of stall
Fuel prices at gas stations across South Korea continued to rise for a second consecutive day after the government raised oil price caps. According to Opinet, the state-run fuel price information system, the nationwide average price of gasoline stood at 1,849.7 won ($1.23) per liter as of 9 a.m. on Saturday, up 10.9 won from the previous day. Diesel prices also climbed 9.6 won to 1,844.1 won per liter, extending the upward trend in fuel costs. The increase
Samsung SDI is set to invest about 30 billion won ($19.8 million) in Fino, a South Korea-listed subsidiary of China's CNGR Advanced Material, as part of efforts to strengthen its battery materials supply chain. Fino released regulatory filing Thursday it had approved a rights issue of about 14.29 million new shares through a board resolution. Samsung SDI will subscribe to about 6.13 million shares, or about 40 percent of the offering, at an issue price of
