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SK hynix posts stellar Q1 earnings, fueled by AI growth
SK hynix posted its second-highest quarterly operating profit of 7.44 trillion won ($5.2 billion) for the January-March period this year, up 158 percent on-year. Achieving the record performance during the seasonal slowdown, the memory chip maker attributed its success to robust demand for high-value artificial intelligence chips and stockpiling ahead of anticipated US tariffs. A leading supplier of the popular high bandwidth memory chip, SK hynix reported Thursday that it has recorded quarterly
April 24, 2025 -
NongHyup chief visits New York to bolster global financial push
Kang Ho-dong, chair of the National Agricultural Cooperative Federation — South Korea’s largest cooperative and the parent of NongHyup Financial Group — visited New York this week to inspect the group’s financial operations, signaling renewed efforts to expand its global footprint. The trip on Wednesday marked Kang’s first overseas inspection since taking office in January 2024. He received performance briefings at NongHyup Bank’s New York branch and NH Investment & Securities’ local unit, the g
April 24, 2025 -
Volkswagen’s ID.4 and ID.5 gear up to lead Korea’s EV market
Volkswagen is doubling down on its electric mobility strategy in Korea, spotlighting two key models — the ID.4 and the soon-to-launch ID.5. After topping electric vehicle sales in Europe during the first quarter of 2025, the brand is looking to carry that momentum into the Korean market. According to JATO Dynamics, Volkswagen sold over 25,000 EVs in Europe in March alone, overtaking Tesla to become the region’s top EV brand. That success has laid the groundwork for a bigger push in Korea, where
April 24, 2025 -
Mercedes-Benz doubles down on high-end strategy in Korean market
At the 2025 Seoul Mobility Show, Mercedes-Benz Korea gave visitors a glimpse of where luxury driving is headed. Alongside its latest premium models, the brand introduced a range of personalized services designed to reflect the evolving tastes of Korean consumers. This initiative is part of Mercedes-Benz Korea’s broader strategy to elevate its luxury positioning in 2025. By launching high-end vehicles and tailored experiences, the company continues to align with its global vision: “The world’s mo
April 24, 2025 -
Reciprocal tariffs removal, auto barriers top agenda at Korea-US talks: Ahn
South Korean Minister of Trade, Industry and Energy Ahn Duk-geun said eliminating the US' “reciprocal” tariffs against Korea and resolving auto-related issues were the top priorities of upcoming high-level talks in Washington. Ahn is set join Deputy Prime Minister and Finance Minister Choi Sang-mok for the first “2+2” trade consultation with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer at 8 a.m. Thursday in Washington (9 p.m. Thursday, Korea time). “Basically, o
April 24, 2025 -
Netmarble’s RF Online Next claims top spot with massive Mining War content
South Korean mobile gaming giant Netmarble announced Thursday that its latest massively multiplayer online role-playing game, RF Online Next, has topped sales rankings in the Google app store following the successful debut of its first large-scale war content, Mining War. According to the company, over 20,000 players participated in the inaugural serverwide guild battle held on April 19, driving the game to reach the top spot in Korea’s mobile sales rankings as of April 22. RF Online Next is a n
April 24, 2025 -
Samsung SDI named as Jaguar Land Rover’s top partner
Samsung SDI said Thursday it was selected as a top global partner by Jaguar Land Rover, a UK-based luxury vehicle brand. The ceremony for the JLR Quality Award was held at the battery manufacturer’s plant in Tianjin, China. The Chinese facility is where Samsung SDI produces its 21700 cylindrical battery cells -- 21 millimeters in diameter and 70 millimeters in height –- which it supplies to Jaguar Land Rover for premium models such as the Range Rover and Range Rover Sport through a strategic par
April 24, 2025 -
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman
Donald Trump Jr., the eldest son of US President Donald Trump, is scheduled to visit South Korea next week on what will be his first trip to the country since the inauguration of the second Trump administration, according to industry sources Thursday. Trump Jr. is visiting at the invitation of Shinsegae Group Chair Chung Yong-jin, who reportedly extended the offer during a recent visit to Mar-a-Lago, President Trump’s private residence in Palm Beach, Florida. According to sources, Chung conveyed
April 24, 2025 -
Customs agency meets with local steelmakers over US tariff measures
The Korea Customs Service said Thursday it has held a meeting with local steelmakers to discuss countermeasures in response to the latest US tariff actions targeting foreign steel imports. During the meeting held Wednesday, members of the Korea Iron and Steel Association voiced concerns over the growing inflow of illegally underpriced steel products amid heightened trade tensions following the Donald Trump administration's tariff policies. On March 12, the US government began imposing a 25 perce
April 24, 2025 -
Samsung Electronics to hold Galaxy Unpacked event in July in New York: sources
Samsung Electronics Co. is expected hold the summer edition of its Galaxy Unpacked event in July in New York, industry sources said Thursday. At the event, Samsung Electronics will unveil the latest versions of its foldable smartphone series, the Galaxy Z Fold 7 and Galaxy Z Flip 7, according to the sources. The exact date of the event has not yet been finalized. It is the first time in nearly three years that Samsung Electronics will debut its new Galaxy smartphones in New York following the ev
April 24, 2025 -
Hyundai Motor partners with India's IIT Delhi to open mobility research center
Hyundai Motor Group said Thursday it has partnered with the Indian Institute of Technology Delhi to establish a new research center in India aimed at advancing future mobility technologies, with a focus on electrification and battery systems. Under their partnership agreement signed Wednesday, the two sides will establish the Hyundai Center of Excellence, which will serve as a hub for joint research projects under a long-term academic-industry cooperation framework. Hyundai Motor Co. and Kia Cor
April 24, 2025 -
Seoul shares open lower ahead of tariff talks with US
South Korean stocks opened a tad lower Thursday, despite Wall Street gains, as investors await tariff talks with the United States. The benchmark Korea Composite Stock Price Index fell 2.47 points, or 0.1 percent, to 2,523.09 in the first 15 minutes of trading. South Korea and the US were to hold tariff talks in Washington later in the day, after the Donald Trump administration put on hold the implementation of 25 percent reciprocal tariffs on South Korean imports for 90 days. Overnight, US shar
April 24, 2025 -
Corporate direct financing dips 21% in March on decreased debt sale
Corporate direct financing in South Korea plunged 21 percent in March from a month earlier on decreased bond sales, data showed Thursday. Local companies raised a combined 21.82 trillion won ($15.32 billion) last month by selling stocks and bonds, down 6.18 trillion won from the previous month, according to the data from the Financial Supervisory Service. Stock sales slightly rose to 469 billion won in March from the previous month's 443 billion won, while share sales via initial public offering
April 24, 2025 -
Govt. to spend W463.5b on supporting R&D projects of mid-sized export companies
The government will invest 463.5 billion won ($324.7 million) by 2033 in research and development projects led by medium-sized companies with export potential, the industry ministry said Thursday. Under the plan, the Ministry of Trade, Industry and Energy has designated 10 R&D projects on cutting-edge technologies that will receive government funding. The technologies include future mobility, advanced manufacturing, energy and rechargeable batteries. Medium-sized firms leading R&D projects on su
April 24, 2025 -
S. Korean economy shrinks in Q1 amid political chaos, tariff uncertainty
The South Korean economy posted negative growth from three months earlier in the first quarter, the first on-quarter contraction in nine months, central bank data showed Thursday, amid a domestic political crisis and uncertainties stemming from the Donald Trump administration's sweeping tariff scheme. The country's real gross domestic product -- a key measure of economic growth -- contracted 0.2 percent in the January-March period from a quarter earlier, according to the preliminary data from th
April 24, 2025