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BUSINESS

BUSINESS

U.S. officials discuss IRA with Korean battery makers: Sources

U.S. Energy Department officials met with Korean battery makers to discuss the implementation of the Inflation Reduction Act (IRA).   The Energy Department determines which...
BUSINESS

Porsche customizes Taycan sports car for Blackpink’s Jennie

Porsche developed a customized electric sports car just for Jennie, a member of K-pop girl group Blackpink. The Taycan 4S Cross Turismo for Jennie Ruby...
BUSINESS

U.S. grants waiver to SK hynix for tech transfers to China

SK hynix has received a one-year waiver on U.S. restrictions related to the importing of certain semiconductor-related technologies into China.   With the permission in...
BUSINESS

Korea chipmaker stocks fall after new U.S. rules and on other concerns

Samsung Electronics' booth at a semiconductor exhibition held at COEX in Seoul on Oct. 5. Chip stocks in Korea fell following an...
BUSINESS

Samsung’s Q3 operating profit hit by weakness in chips

Samsung Electronics expects to report a sharp decline in operating profit for the third quarter as its mainstay semiconductor business took a hit from...
BUSINESS

Foreign reserves dip but BOK says not to worry

Korea’s foreign reserves fell for the second month in a row in September.  The Bank of Korea said foreign reserves fell to $416.8 billion as...
BUSINESS

SoftBank’s Son does not offer Arm to Samsung Electronics: Sources

SoftBank Group CEO Masayoshi Son, right, and Samsung Electronics Vice Chairman Lee Jae-yong,left, enter the Korea Furniture Museum in central Seoul in 2019...
BUSINESS

Hyundai Motor EV sales in U.S. drop after IRA ends credit

Hyundai Motor EV sales in the United States have fallen since the Inflation Reduction Act (IRA) went into effect. The company sold 1,306 Ioniq 5s...
BUSINESS

Korean tech stocks hit 52-week lows after U.S. big tech shares dive

Korean tech stocks hit new 52-week lows following sharp falls of U.S. tech shares overnight. Samsung Electronics traded at 51,800 won ($36) at 9:55 a.m., a...
BUSINESS

Global streaming wars put Korean competitors in a tough spot

Disney+ holds a media day ahead of its introduction to Korea in October 2021. Global streaming services are slashing their subscription fees...
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