Seoul court upholds record fine on UBS over naked short selling SEOUL, September 05 (AJP) -A South Korean court has upheld a 16.94 billion won ($12.2 million) penalty imposed on Credit Suisse for naked short selling, rejecting UBS's argument that shares used as collateral remained under the investment bank's ownership. The Seoul Administrative Court recently ruled against UBS in a lawsuit seeking to overturn the penalty imposed by the Securities and Futures Commission (SFC), according to legal sources Friday. UBS inherited the case afte September 5, 2026

U.S. firms pledge $2 billion investment in Korea across chips and energy SEOUL, September 05 (AJP) - Four U.S. companies have pledged a combined $2 billion investment in South Korea spanning semiconductors, advanced display materials and offshore wind, the Ministry of Trade, Industry and Resources said. The commitments were announced in Washington, D.C., on Thursday as Seoul seeks to deepen investment and supply-chain ties with the United States amid heightened uncertainty over global trade and industrial policy. The participating companies are ind September 5, 2026

Hyundai, POSCO break ground on $5.8 billion low-carbon steel mill in Louisiana SEOUL, September 05 (AJP) -A major multi-company Korean investment in the United States got underway Friday as Hyundai Steel and POSCO broke ground on a $5.8 billion electric-arc-furnace steel mill in Louisiana, designed to anchor a made-in-America automotive steel supply chain. Hyundai-POSCO Louisiana Steel, or HPLS, held a ceremonial groundbreaking in Donaldsonville, Ascension Parish, on Sept. 4, bringing together Hyundai Motor Group, POSCO and government officials from South Ko September 5, 2026

South Korea backs rules-based Arctic order at Japan research meeting SEOUL, September 04 (AJP) - Cooperation on the Arctic among South Korea, China and Japan matters more as the region warms and its politics harden, South Korea's ambassador for polar affairs told a research meeting in northern Japan this week. None of the three countries holds territory above the Arctic Circle. All three were admitted as observers to the Arctic Council, the main intergovernmental forum for the region, at a ministerial meeting in Kiruna, Sweden, in May 2013, alo September 4, 2026

Won closes at 14-month high, bond yields little changed SEOUL, September 04 (AJP) - The South Korean won extended its rally to a 14-month high Friday, while government bonds ended little changed as investors stayed cautious ahead of U.S. employment data. The won strengthened 8.9 won from the previous session to close daytime trading at 1,350.4 per dollar, compared with Thursday's 1,359.3. The currency briefly entered the 1,340 range during the session, its strongest intraday level since early July 2025. Exporter dollar sellin September 4, 2026

Chip windfall finally arrives on the FX front SEOUL, September 04 (AJP) - The South Korean won is looking entirely different from the first half, closing at its strongest level in 14 months Friday as a swelling current-account surplus increasingly offsets heavy overseas equity investment and other capital outflows, giving authorities room to absorb a reported $20 billion in dollars from SK hynix's landmark U.S. share sale without reversing the currency's rally. The dollar fell 8.9 won to close Friday's daytime tra September 4, 2026

Chip stocks lead KOSPI rebound as bank trade unwinds SEOUL, September 04 (AJP) - A signal from the U.S. Federal Reserve unwound a week of rate-driven positioning in Seoul on Friday, pulling money out of the bank stocks that had thrived on surging yields and back into memory chips. The KOSPI closed 1.6 percent higher, adding 107.73 points to 6,687.21 for a second straight gain after Wednesday's near 4 percent collapse. Samsung Electronics rose 2.2 percent to 255,500 won ($189) and SK hynix gained 3.2 percent to 1,647,000 won ( September 4, 2026

ROBOTIS surges 22% on Goldman Sachs' 630,000-won target SEOUL, September 4 (AJP) — Shares of South Korean robotics company ROBOTIS jumped more than 22 percent Friday after Goldman Sachs rated the stock a buy and set a 630,000-won target price, citing strong demand for its robot actuators. Its shares closed at 304,500 won ($225), up 22.54 percent from the previous session's close of 248,500 won, according to Korea Exchange data. The stock opened at 267,000 won and fell as low as 265,000 won and climbed as high as 315,000 won d September 4, 2026

Police brace for huge crowds at annual fireworks festival this weekend SEOUL, September 4 (AJP) - More than 5,000 police officers and other security personnel will be deployed to manage crowds and respond to emergencies in Yeouido along the Han River this weekend, as about 1 million people are expected to gather for the annual Seoul International Fireworks Festival, according to the Seoul Metropolitan Government. The festival, hosted by Hanwha Group, has drawn more than 1 million visitors every year since it began in 2000, as crowds gather along the Ha September 4, 2026

Naver deepens AI factory push in Brookfield talks SEOUL, September 04 (AJP) - Naver is accelerating its bid to build one of Asia's largest artificial intelligence computing hubs. Founder and board chair Lee Hae-jin met Brookfield Asset Management Chief Executive Bruce Flatt in Seoul on Thursday to review progress on a gigawatt-scale AI factory backed by up to $60 billion in investment. The two met at Naver's 1784 headquarters in Seongnam, south of Seoul, to advance a project the company is pursuing with Nvidia to constr September 4, 2026