Seoul shares closed over 1 percent higher Wednesday, extending their winning streak to a second session as a widespread investigation into President Yoon Suk Yeol's brief martial law declaration by various law enforcement agencies picked up speed. The Korean won lost ground against the US dollar. The benchmark Korea Composite Stock Price Index added 24.67 points, or 1.02 percent, to finish at 2,442.51. Trade volume was moderate at 607 million shares worth 7.53 trillion won ($5.26 billion),

Business leaders from South Korea and the United States have urged their governments to address persistent trade barriers and discriminatory policies, emphasizing the urgency of these issues as the incoming Trump administration brings fresh uncertainties in global economic and trade dynamics. The demands were outlined in a joint declaration adopted Tuesday at the 35th Korea-US Business Council meeting in Washington, organized by the Federation of Korean Industries and the US Chamber of Commerce.

A sharp rise in the won-dollar exchange rate is deepening concerns among the nation’s top two chipmakers -- Samsung Electronics and SK hynix -- as they face snowballing financial burdens in their massive facility investments in the US. The Korean won has suffered price fluctuations following President Yoon Suk Yeol’s short-lived martial law declaration on Dec. 3. On Monday, the won soared to a two-year high of 1438.8 against the greenback. As of 3 p.m. Tuesday, the won-dollar rate re

South Korea’s major conglomerates are bracing to navigate the economic and political shock waves unleashed by President Yoon Suk Yeol’s fleeting attempt at martial law last week, balancing containing the fallout and preparing for their business strategies for the coming year. The big four chaebol groups, including Samsung, SK, Hyundai Motor and LG, are set to hold strategy meetings later this month to finalize their plans for 2024. These meetings, typically held after annual leader

Seoul shares opened sharply higher Tuesday following a fourth consecutive day of drop caused by political turmoil from President Yoon Suk Yeol's botched martial law declaration last week. The benchmark Korea Composite Stock Price Index rose 42.17 points, or 1.79 percent, to 2,402.75 in the first 15 minutes of trading. The president faces a criminal investigation in connection with treason and other charges related to his short-lived martial law order last week. Yoon has entrusted the matter

South Korean shares hit their lowest level of the year on Monday, as market sentiment was weighed down by prolonged political uncertainty following the failure of the motion to impeach President Yoon Suk Yeol. The local currency also continued its decline against the US dollar, fluctuating around 1,435 won throughout the afternoon. The benchmark Korea Composite Stock Price Index, which opened at 2,392.37 points, down 35.79 points from the previous session, extended its losses during the day to t

Seoul shares tumbled by nearly 3 percent Monday amid deepening political chaos as the opposition-led National Assembly is pushing for another impeachment motion against President Yoon Suk Yeol after a failed bid over the weekend. The Korean won fell sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index plummeted 67.58 points, or 2.78 percent, to 2,360.58, the lowest since the 2,351.83 point closing on Nov. 3 last year. Trade volume was moderate at 583.08 million shares

Chinese chipmakers are posing challenges for South Korean memory chip giants, flooding the global market with legacy chips at half the market price amid slowing demand. With the price of the older DRAM chips plunging more than 30 percent, market analysts lowered the earnings prospects for Samsung Electronics and SK hynix, the world's top two memory chip makers. According to DRAMeXchange on Monday, the spot price of 8 gigabyte DDR4 chips for computers fell to $1.35 in November, marking a 35.

SINGAPORE, Dec. 9, 2024 /PRNewswire/ -- Marriott Bonvoy is thrilled to announce a series of highly anticipated hotel openings across Asia Pacific excluding China in 2025. This exciting year will see the opening of three stunning JW Marriott Hotels & Resorts, the re-opening of W Maldives, the debut of the first-ever Sheraton Hotels & Resorts in Papua New Guinea, and the introduction of Moxy Hotels in Nepal and AC Hotels in the Philippines. Additionally, Courtyard by Marriott will make i

Seoul shares opened sharply lower Monday amid deepening political chaos as the opposition-led National Assembly is pushing for another impeachment motion against President Yoon Suk Yeol after a failed bid over the weekend. The benchmark Korea Composite Stock Price Index fell 33.36 points, or 1.37 percent, to 2,394.80 in the first 15 minutes of trading. Yoon has faced massive pressure to step down or face impeachment after last Tuesday's shocking martial law declaration, which was quickly ov

President Yoon Suk Yeol on Saturday narrowly survived impeachment as his ruling People Power Party, united in the National Assembly to thwart the opposition's effort to oust him from office. This offers Yoon only momentary relief, however, as the opposition parties threaten to push for his impeachment again over his declaration of martial law earlier this week. The short-lived martial law decree, along with an array of controversies, including legal risks related to his spouse, have alr

Seoul shares closed down for a third straight session Friday as investors await the result of an impeachment vote against President Yoon Suk Yeol on Saturday over his botched martial law attempt. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 13.69 points, or 0.56 percent, to close at 2,428.16. This week, the index lost 1.1 percent. Trade volume was moderate at 620.82 million shares worth 10.48 trillion won ($7.4 billion), with losers outpacing wi

Seoul shares opened higher Friday on auto and energy gains, with investors eyeing the planned parliamentary vote for President Yoon Suk Yeol's impeachment over his botched declaration of martial law earlier this week. The benchmark Korea Composite Stock Price Index rose 13.68 points, or 0.56 percent, to 2,455.53 in the first 15 minutes of trading. On Tuesday night, Yoon abruptly declared martial law, accusing the main opposition party of paralyzing the government with impeachment motions an

Nicola Weir is an environmental, social and governance, or ESG, expert whose career and adventurous spirit have taken her across the globe. Having lived in the UK, Indonesia, Singapore, Tanzania, Mozambique, Nepal and now in South Korea, she brings a wealth of experience to her role as a partner at Deloitte Korea. A people person with a warm laugh and a big smile, Nicola is known for her vibrant personality, passion for her work, and a strong network of friends and connections. I first met her l

Seoul shares closed lower for a second straight session on Wednesday as President Yoon Suk Yeol faces an impeachment vote this weekend following his botched declaration of martial law. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 22.15 points, or 0.90 percent, to close at 2,441.85. Trade volume was moderate at 502.49 million shares worth 9.29 trillion won ($6.56 billion), with losers far outpacing winners 724 to 175. Foreigners sold a net 319.19