SK hynix, the world’s second-largest memory chip maker, has finalized a deal with the US government to secure direct funding of up to $458 million for building its advanced chip packaging plant in the US, safeguarding the grant ahead of President-elect Donald Trump's second term. As the US Commerce Department finalizes chip grants for all four major chip manufacturers, including SK hynix, attention now shifts to when the crosstown rival Samsung Electronics will also complete the deal

Seoul shares started sharply lower Friday on the US Federal Reserve's hawkish turn, which signaled fewer rate cuts next year. The benchmark Korea Composite Stock Price Index dropped 24.88 points, or 1.02 percent, to 2,411.05 in the first 15 minutes of trading. The Korean won continued to hover above 1,450 won per US dollar, the lowest level in 15 years. It was trading at 1,450.9 won against the greenback at 9:15 a.m., up 1 won from the previous session. Overnight, Wall Street closed almost

The US Commerce Department said Thursday it has decided to grant up to $458 million in direct funding to SK hynix Inc.'s project to build a new plant in Indiana. The US government will also provide up to $500 million in loans, both under the CHIPS and Science Act, according to the US Department of Commerce. In April, the company announced a plan to invest $3.87 billion to build a memory packaging plant for artificial intelligence products, and an advanced packaging research and development

Kioxia Holdings, the world’s third-largest NAND flash memory chip-maker, made its market debut this week, drawing much attention from Korean rivals amid the evolving competition in the chip market driven by the era of artificial intelligence. Kioxia debuted on the Tokyo Stock Exchange's Prime Market on Wednesday, closing its first trading day 10 percent higher than the offering price. Its market cap stood at 863 billion yen ($5.62 billion). The initial public offering is expected to p

Seoul shares tumbled nearly 2 percent Thursday as risk appetite weakened after the US Federal Reserve hinted at a slower monetary easing cycle next year and US tech giant Micron Technology's sharp losses overnight. The Korean won was sliding against the US dollar. The benchmark Korea Composite Stock Price Index plummeted 48.5 points, or 1.95 percent, to close at 2,435.93. The local currency was trading at 1,451.9 won against the greenback at 3:30 p.m., down 16.4 won from the previous sessio

Seoul shares started over 1.8 percent lower Thursday after the US Federal Reserve cut its rate for the third consecutive time but signaled fewer rate cuts next year. The Korean won opened sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index shed 45.47 points, or 1.83 percent, to 2,438.96 in the first 15 minutes of trading. The Korean won also plummeted to breach 1,450 won per US dollar, reaching a 15-year low. It was trading at 1,450.8 won against the greenback at

Seoul shares ended more than 1 percent higher Wednesday as foreign investors picked up blue chip tech shares in a bargain following the Korean stock market's two-day fall. The Korean won was trading higher against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 27.62 points, or 1.12 percent, to close at 2,484.43. Trade volume was moderate at 421.9 million shares worth 6.9 trillion won ($4.8 billion), with winners outnumbering losers 582 to 302. Analysts said the

The South Korean government pledged to implement a set of measures to stimulate corporate investment despite the recent political disruption sparked by President Yoon Suk Yeol's short-lived martial law declaration. “With the escalated uncertainties surrounding the economy, a sense of crisis has been growing,” Deputy Prime Minister and Finance Minister Choi Sang-mok said at a governmental meeting held at the Government Complex Seoul on Wednesday, joined by other economy-related

Samsung Electronics announced Wednesday that it will unveil a new lineup of home appliances powered by artificial intelligence at CES, the world’s largest tech trade show taking place in Las Vegas from Jan. 7-10, 2025. The lineup includes AI-driven refrigerators, washing machines and dryers designed to streamline household tasks and enhance connectivity. Central to these devices is Samsung’s “AI Home” solution, which allows users to remotely monitor and control all compat

Seoul shares started higher Wednesday as investors were paying attention to the results of the Federal Reserve's rate decision meeting. The benchmark Korea Composite Stock Price Index (Kospi) added 16.43 points, or 0.67 percent, to 2,473.24 in the first 15 minutes of trading. Overnight, Wall Street closed lower as investors awaited the Fed's rate decision. The US central bank is widely expected to make its third consecutive rate cut on Wednesday. In Seoul, most big-cap shares gained gr

The immediate economic risks linked to the aftermath of President Yoon Suk Yeol’s short-lived martial law decree seem to be fading away, at least for the moment, but concerns are still deepening over how the South Korean economy is to grapple with looming challenges in the absence of solid leadership. Not all business sectors are mired in a slump. For instance, the semiconductor sector, led by Samsung Electronics and SK hynix, has made a strong recovery this year, helping the country&rsquo

Seoul shares dipped nearly 1.3 percent Tuesday on big losses by tech and battery shares sparked by a media report on the incoming Trump administration's push for roll back tax credits for the electric vehicle industry. The Korean won lost ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 32.16 points, or 1.29 percent, to close at 2,456.81. Trade volume was moderate at 547.9 million shares worth 9.03 trillion won ($6.3 billion), with losers surpassing winners

Hanmi Semiconductor Vice Chair Kwak Dong-shin has been promoted to take the helm of the chip packaging equipment maker, after leading the development and launch of a flagship product used in producing next-generation artificial intelligence DRAM chips. Kwak joined the company in 1998, eight years after his late father Kwak Noh-kwon founded the company in 1980. Kwak Dong-shin has been the effective leader of the chip equipment firm since 2007, when his father stepped back from front-line manageme

South Korean electronics giant LG Electronics's Washington office has hired a new lobbying firm in the US to bolster its negotiating leverage with Washington, amid rising concerns over US President-elect Donald Trump’s tariff threats. According to a US disclosure report Tuesday, LG Electronics USA, the company’s US arm, has recently hired Capitol Counsel, a government relations firm in Washington, to lobby on trade and supply chain issues. Lisa Whisler, a lobbyist at the Capitol

Seoul shares opened lower Tuesday as investors remain cautious ahead of the US Federal Reserve's rate decision this week. The benchmark Korea Composite Stock Price Index fell 14.97 points, or 0.6 percent, to 2,474.00 in the first 15 minutes of trading. The US central bank is widely expected to cut interest rates for a third straight meeting on Wednesday. In Seoul, large-cap stocks were mixed. Market behemoth Samsung Electronics fell 1.62 percent, leading carmaker Hyundai Motor declined 0.47