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Sohn Kyung-shik, chairperson of the Korea Enterprises Federation, called for labor market reforms and stronger labor-management cooperation to help businesses adapt to the artificial intelligence era, during a speech at the International Labor Organization's annual conference in Geneva. Sohn, who is also chair of CJ Group, addressed the 114th International Labor Conference on behalf of the Korean business community, the KEF said Wednesday. Representatives from governments, employers and labor gr
First came Korean retail investors pouring money into US stocks. Then came overseas investors trimming their exposure to Korean equities. Now authorities are turning their attention to another potential factor behind the won's sharp depreciation: trading in the offshore derivatives market. With the Korean won sliding to lows not seen since early 2009, authorities have flagged nondeliverable forward trading as a potential source of excessive volatility and stepped up monitoring of offshore transa
South Korea's economy grew 1.8 percent in the January-March period, as booming chip exports fueled the strongest expansion since 2020, central bank data showed Tuesday. If sustained, the pace of growth could bring the country's per capita income to $40,000 sooner than expected. The country's real gross domestic product expanded 1.8 percent from the previous quarter, 0.1 percentage point higher than the Bank of Korea's preliminary estimate in April. The 1.8 percent expansion was the strongest qua
Nvidia CEO Jensen Huang gave the first dollar figure for the AI infrastructure his company plans to build in South Korea, telling reporters in Seoul on Monday evening that a one-gigawatt AI factory would cost about $60 billion. Applied to the 6 gigawatts already pledged with SK Telecom and Naver a day earlier, that price points to as much as $360 billion in potential investment over the next five years. Nvidia is building up to 5 gigawatts of capacity with SK Telecom and 1 gigawatt with Naver, a
For South Korea and Japan, cooperation is no longer a diplomatic choice but an economic necessity, SK Group Chairman Chey Tae-won said Tuesday, urging the two countries to build a permanent platform to tackle shared challenges. "Korea-Japan cooperation is not a one-off event. It is a path toward building a sustainable and actionable community based on deep trust," Chey said at a special Korea-Japan session of the Nikkei Forum in Tokyo. The event, hosted by Nihon Keizai Shimbun and organized by S
South Korea's foreign exchange authorities signaled Monday their readiness to step in if won volatility continues, after the local currency slid to its weakest level since the global financial crisis. "Recent volatility in the forex market appears to have been amplified not only by supply and demand factors but also by speculative foreign exchange transactions, including those in the non-deliverable forward market," said Yoon Kyoung-soo, director general of the International Department at the Ba
As South Korean authorities step up oversight of unaccredited international schools, accredited institutions are attracting renewed interest from parents seeking greater certainty over academic credentials, educational quality and long-term stability. The Ministry of Education recently launched a task force to strengthen oversight of irregular educational facilities, and the Seoul Metropolitan Office of Education has begun special inspections of unaccredited international schools. The measures a
South Korea and Canada are expanding cooperation in energy security, critical minerals, strategic industries and supply chain resilience, a move that could generate more than 100 billion Canadian dollars ($71.91 billion) in economic impact for Canada while supporting tens of thousands of jobs. The expanded partnership was announced Tuesday following a meeting between Canada's Minister of Energy and Natural Resources Tim Hodgson and South Korea's Chief of Staff to the President and Special Envoy
SK Group Chairman Chey Tae-won is strengthening alliances with the world's most influential AI chipmakers, holding talks with TSMC Chairman C.C. Wei and Foxconn Chairman Young Liu in Taiwan days after meeting Nvidia CEO Jensen Huang. The meeting, held on Wednesday, was the first in-person talk between Chey and Wei since June 2024, SK hynix said Thursday. It came as global AI chip supply chains face growing bottlenecks amid surging demand from big tech companies. The two leaders discussed expandi
"Most of the couples who came to see homes today were Samsung Electronics or SK hynix employees. Buyer inquiries have clearly increased, and chip-sector bonuses seem like a major driver in this area," a real estate agent in Yongin's Suji-gu, a Gyeonggi Province area served by chipmakers' commuter buses, said Saturday. Several young buyers had lined up that day to view well-maintained homes in large apartment complexes in the area, the agent said. Homeowners are also sensing the shift, becoming l
Chipotle bets on Korea for first bite of Asia
Samsung vs. LG battle for AI cooling heats up
Musinsa posts record earnings on offline, global expansion
One purchase every 0.9 second: Olive Young foreign sales top W1tr
Samsung, SK hynix tax payments surge 167% on chip boom
SK Chemicals eyes European can-coating market
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