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The governor of Alaska signaled the state’s interest in partnering with South Korea on liquefied natural gas development and reaffirmed its commitment to long-term energy cooperation at a forum hosted by the American Chamber of Commerce in Korea on Friday. Speaking via video at the event held under the theme, “A New Era of Korea-US Cooperation in the Energy Sector,” Alaska Gov. Mike Dunleavy championed his openness to business regarding the Alaska LNG project, which could foster sustainable ener
Korea’s steel exports to the United States plunged nearly 19 percent in March, the first month under a 25 percent US tariff that took effect on March 12. According to data from the Korea International Trade Association, steel shipments to the US fell by 18.9 percent on-year to $341 million, while exports by volume declined by 14.9 percent to 250,000 metric tons. The drop coincided with the imposition of US tariffs -- 25 percent on steel and 10 percent on aluminum -- which ended Korea’s tariff ex
The South Korean government’s proposed supplementary budget worth 12.2 trillion won ($8.6 billion) is projected to stimulate growth in the country’s gross domestic product by 0.1 percentage point, officials said Friday. The government passed the extra budget proposal at an extraordinary Cabinet meeting on Friday. Of the 12.2 trillion won, roughly 4 trillion won will be injected into shoring up key industries affected by trade tensions and advancing the artificial intelligence sector, while 3 tri
The Bank of Korea held its base rate steady at 2.75 percent Thursday, as the South Korean economy faces headwinds from the US administration’s tariff measures. The central bank also projected it would have to cut the country’s gross domestic product growth forecast for 2025 to below the previous estimate of 1.5 percent. The rate freeze was supported by five out of six members of the Monetary Policy Board, excluding BOK Gov. Rhee Chang-yong, whose individual vote is not disclosed. One of the six
Korea’s defense exports surpassed $4 billion for the first time last year as the top industry leaders, namely Hanwha Aerospace, Hyundai Rotem, LIG Nex1 and Korea Aerospace Industries, enjoyed record-setting annual performances while continuing to expand their presence on the global stage amid ongoing geopolitical uncertainties worldwide. According to data from the Korea International Trade Association, the country’s weapons exports totaled $4.05 billion last year, roughly a 10-fold increase from
Japan’s SBI Holdings is set to increase its stake in Kyobo Life Insurance to 20 percent, becoming the second-largest shareholder of the South Korean insurer. According to industry sources Thursday, the Tokyo-based financial group is seeking to acquire an additional 11 percent stake from other financial investors, following its purchase of roughly 9 percent in March from private equity firm Affinity Equity Partners. “SBI acquired about 9.1 percent last month from Affinity and is in the process of
Kim Ki-hong, chair and CEO of JB Financial Group, has purchased an additional 200 million won ($141,000) worth of treasury shares as part of ongoing efforts to enhance corporate value and shareholder returns. According to a recent regulatory filing with the Financial Supervisory Service, Kim acquired 12,127 shares on the open market on April 9 at 16,542 won per share. The latest purchase raises Kim’s total holdings to 160,000 shares, equivalent to 0.08 percent of JB Financial Group’s outstanding
A laborer who went missing when a subway construction site near Seoul collapsed was found dead Wednesday, according to the local fire department. The fire authorities discovered the construction worker 21 meters underground at 8:03 p.m. and retrieved his body at around 8:11 p.m. The man was located not far from a shipping container that had been used by workers as a shelter, where the authorities had expected to find him. "There was a lot of soil and the recovery process was difficult. The conta
More wealthy South Koreans are eyeing diversification of their investments, seeking out safe-haven assets such as gold and bonds in their portfolios instead of real estate, a traditional investment here, research conducted by a think tank under Hana Financial Group showed. The wealthy are increasing their stake in cryptocurrency as well. The Hana Institute of Finance released the 2025 Korea Wealth Report Wednesday. This year, the online survey was conducted on 3,010 Hana Bank customers in Decemb
Korea’s top economic policymakers are set to visit the United States next week in a coordinated diplomatic push to ease US President Donald Trump’s tariffs on Korean exports. The Ministry of Economy and Finance confirmed on Thursday that Deputy Prime Minister and Finance Minister Choi Sang-mok will travel to Washington, where he is scheduled to meet with his US counterpart, US Treasury Secretary Scott Bessent. While the exact schedule and attendees are still being finalized, the meeting is expec
Naver signs licensing deal with Universal Music to elevate creators’ content
Alaska governor, DOE official call for stronger Korea-US LNG cooperation
Korea scores 1st nuclear research reactor project from US
Apple Intelligence review: Smooth start for Korean support, with room to grow
Low-cost, high-margin: How Mega Coffee is outperforming Starbucks Korea
Wealthy Koreans shift focus from real estate to gold, bonds and crypto
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