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Daewoo Engineering & Construction is expanding its global energy business across nuclear power, liquefied natural gas and infrastructure projects, building on five decades of overseas operations, the company said Tuesday. The builder is targeting opportunities across Europe, the Middle East and emerging Asian markets as it broadens its portfolio beyond conventional construction into energy and technology-linked infrastructure. Chairman Jung Won-ju met Hanoi Mayor Vu Dai Thang in Seoul on Sept. 8
The Korean won's brief advance into the 1,330s has quickly unwound, with the currency weakening past 1,388 per dollar Monday, losing nearly 50 won to the dollar in less than two weeks as renewed US tightening concerns and foreign stock selling have brought the 1,400 level back into view. Analysts see room for the won to weaken back above 1,400, but say such a move would not by itself signal renewed instability, with Korea's current account surplus and exporter dollar selling providing a buffer a
Hana Bank issued a $100 million digital bond through Euroclear's blockchain platform, completing the transaction on the same day in a first for Korea's foreign currency bond market. The five-year bond was issued Friday using Euroclear's Digital Financial Market Infrastructure, or D-FMI, which processes the issuance, registration and settlement of securities on a distributed ledger, the bank said Monday. The offering achieved T+0 settlement, with bond allocations and payments completed on the iss
An agreement expected this week concerning South Korea’s $200 billion US investment commitment remains uncertain, as Seoul and Washington seek to resolve differences over nuclear projects, funding schedules and how to share investment risks. Signs of strain emerged when the Industry Ministry postponed a briefing to lawmakers on the first project under the plan, fueling speculation that negotiations had stalled. Foreign Minister Cho Hyun played down concerns about a rift before departing for Wash
The South Korean won has limited room to strengthen further in the near term, as exporter dollar-selling flows have weakened and demand for overseas stocks remains strong, according to State Street Markets. "The Korean won has already strengthened to its capable extent," Choi Ji-uk, senior macrostrategist for the Asia-Pacific region at State Street Markets, said at a media roundtable held at the custodian bank's Seoul office on Thursday. The won, which had dipped to its weakest point since the g
Global leveraged exchange-traded fund managers are stepping up their push into South Korea, drawn by retail investors whose appetite for high-risk US-listed products has made them a significant source of assets. Russell Tencer, president of Tradr ETFs, visited Seoul on Thursday to meet Korean investors and promote the firm’s lineup. His trip marked the second visit by a foreign manager specializing in leveraged ETFs since Korea allowed single-stock leveraged funds to begin trading in late May. T
South Korea has allowed foreign financial institutions to settle won payments directly overseas, marking a step toward making the currency more widely used on a global scale, the Finance Ministry said Wednesday. Under the new framework, existing registered foreign institutions will be able to obtain an additional license as Registered Foreign Institutions for KRW Business, or RFI-Ks for short. With the license, foreign financial institutions will be able to open omnibus accounts with domestic ba
The Export-Import Bank of Korea said Wednesday it discussed expanding economic cooperation with Uzbek President Shavkat Mirziyoyev during his visit to Seoul for the inaugural Korea-Central Asia Summit. Korea Eximbank Chairman and CEO Hwang Ki-yeon met Mirziyoyev on Tuesday following the Korea-Uzbekistan Business Round Table, held on the sidelines of the summit. Hwang described the gathering as an opportunity to deepen bilateral economic ties. Uzbekistan is pursuing major development projects in
South Korea's stock market rally has stalled as chip stocks lose ground, wiping more than 200 trillion won ($147.3 billion) off its combined market capitalization over the past month. The combined market cap of the benchmark Kospi and the tech-heavy Kosdaq stood at 5,962 trillion won as of noon Tuesday, according to Korea Exchange data. The Kospi market was valued at 5,498 trillion won, while the Kosdaq’s market capitalization came to 459 trillion won. The combined figure represents a decline of
The Korea Exchange’s new after-hours market drew more than 1.8 trillion won ($1.3 billion) in turnover on its first day Monday, but thin trading also fueled sharp swings among smaller stocks. The four-hour session, which allows continuous trading from 4 p.m. to 8 p.m., recorded 1,637 volatility interruptions — more than four times the 400 triggered during regular trading. Total turnover reached 1.82 trillion won, with 72.24 million shares changing hands, according to the KRX. Kospi-listed stocks
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