Proposed Bill: Partial Amendment to the Labor Standards Act Proposed by Rep. Ko Dong-jin (People Power Party) ● To enhance the competitiveness of Korea’s national high-tech strategic industries, this bill aims to exempt the R&D sector in industries such as semiconductors, displays, biotechnology and secondary batteries from the current weekly cap of 52 work hours. Rep. Ko, a former CEO of Samsung Electronics, emphasized that flexibility in working hours is essential for boosting produc

South Korean financial authorities said Monday the recent stock market plunge was excessive, given economic fundamentals, vowing to enhance market monitoring and swiftly implement a policy fund to strengthen valuation of local companies. The message was released during an interagency meeting among chiefs of the Financial Services Commission, Financial Supervisory Service and the Korea Exchange, as well as market experts and relevant institutions, in Seoul, in response to steep losses incurred in

South Korean stocks got off to a strong start Monday, led by gains from large-cap shares. The benchmark Korea Composite Stock Price Index added 36.08 points, or 1.49 percent, to 2,452.94 in the first 15 minutes of trading. Market bellwether Samsung Electronics soared 5.79 percent, and leading battery maker LG Energy Solution increased 2.43 percent. Top automaker Hyundai Motor rose 3.4 percent, and its sister affiliate Kia jumped 2.84 percent. Energy shares were the biggest winners as KEPCO climb

Foreign ownership of South Korean shares fell to the lowest level of this year following Donald Trump's presidential reelection, data showed Sunday. Foreign holdings of Korean stocks on the main bourse Kospi accounted for 32.3 percent, or 637.48 trillion won ($456 billion), of the market capitalization worth 1,973.51 trillion won as of Friday, according to the data compiled by the Korea Exchange. Foreign investors held 32.7 percent of Kospi-listed stocks early this year, but the ratio conti

Samsung Electronics Co. said Friday it will buy back its own shares worth a combined 10 trillion won (US$7.16 billion) over the next year as part of efforts to boost its shareholder value following a recent slide in its stock price. In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until Feb. 17, the company said in a statement. For the remaining 7 trillion won, the company will decid

Korean tech giants Samsung Electronics and LG Electronics were recognized with a slew of prizes at the CES 2025 Innovation Awards for their newest products, ahead of the world’s largest tech trade show set to be held in Las Vegas in January. In this year’s program, Samsung won 29 awards, including four best of innovation products, while LG received 24 awards with three top innovation winners. The Consumer Technology Association organizes the annual competition honoring outstanding de

Seoul shares closed nearly flat Friday as investors' bargain hunting limited declines amid lingering uncertainties, including a possible slowdown in US rate cuts. The local currency gained against the US dollar, trading at the 1,300 won level as of 3:30 p.m. for the first time in four days. The benchmark Korea Composite Stock Price Index edged down 2 points, or 0.08 percent, to close at 2,416.86. The main index briefly fell below the psychologically significant 2,400 level at one point. Tra

South Korean stocks opened lower Friday as Federal Reserve Chair Jerome Powell hinted at slowing the central bank's rate cut amid signs of lingering inflation. The Korean won opened slightly lower against the greenback, continuing to hover above the psychologically important level of 1,400 won. The benchmark Korea Composite Stock Price Index fell 0.57 points, or 0.57 percent, to 2,405.12 in the first 15 minutes of trading. During a speech held in Dallas, Powell said the economy is showing n

Samsung Electronics and its largest labor union reached a preliminary agreement on a 5.1 percent pay increase Thursday, officials said, paving the way for ending stalled wage negotiations that have involved a weekslong strike. The tech giant and the National Samsung Electronics Union -- which represents 31,000 workers, or about 24 percent of the company's workforce -- have held multiple rounds of talks since January over the wage increase rate, vacation systems and bonuses without avail. Th

Shares of South Korean tech behemoth Samsung Electronics sank to an over four-year low of under 51,000 won ($36.24) Wednesday, reflecting the clouds cast over the company's chip leadership in the AI era. Samsung Electronics shares on the Kospi closed trading at 50,600 won on Wednesday, dropping by 2,400 won or 4.53 percent from the previous trading day. Shares of the company started the day at 52,000 won but dropped to as low as 50,500 won, hitting the lowest intraday trading level since Ju

South Korean shares fell to their lowest level in a year Wednesday, extending their losing streak to a fourth day, as investors' concerns grew over policy uncertainties under the incoming US Trump administration. The local currency also dropped against the US dollar to a two-year low, breaching 1,400 won for the second straight session as of 3:30 p.m. The benchmark Korea Composite Stock Price Index sank 65.49 points, or 2.64 percent, to close at 2,417.08, marking the lowest since Nov. 13, 2

Samsung Electronics, the tech giant known for its independence as a manufacturer, made a surprise announcement last month hinting it may outsource a key component of its cutting-edge artificial intelligence chips to its Taiwanese rival TSMC. Experts say this comes as the world's largest memory chip maker faces mounting pressure from its global competitors in the increasingly crucial AI chip sector, a headwind that has directly contributed to Samsung's earnings slowdown. “We are c

South Korean stocks opened bearish Wednesday amid a continued slide of the Korean won and uncertainties surrounding the new Trump administration's policies. The Korean won continued to slide against the US dollar, hovering above the psychologically important level of 1,400 won. The benchmark Korea Composite Stock Price Index fell 11.46 points, or 0.46 percent, to 2,471.11 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics fell 1.7 percent, while No. 2 chipmaker

The Korean won and the local bourse dipped to their weakest levels in months, as Donald Trump’s victory in the US presidential election fueled concerns on the outlook of the export-reliant South Korean economy. The Korean won closed its daytime trading against the US dollar at 1,403.5 won, marking an 8.8 won depreciation from the previous trading day. It was the first time in two years for the won-dollar currency exchange rate to close at over 1,400 won. After the daytime closing, the won

Japan’s JSR Corporation, the world's top photoresist manufacturer, kicked off construction of its first semiconductor photoresist factory in Cheongju, North Chungcheong Province, on Tuesday. The new plant, being built under its Korean unit JSR Micro Korea, is set to become operational in 2026 and start supplying its advanced photoresist metal oxide resist (MOR) to Korean chipmakers, including Samsung Electronics and SK hynix. MOR has been rising as a cutting-edge alternative to low-qu