South Korea Import Prices See Sharpest Rise in Years
South Korea’s import prices rose at their fastest rate in more than three years in March, due to a strong rebound in world energy prices. According to the central bank figures, the import price index has risen unexpectedly by 18.4% year-on-year, the largest increase since October 2022. Monthly prices jumped
DeepX Prepares for IPO, Eyes Global Expansion
South Korean AI chip startup DeepX is preparing to list on a stock exchange, a major milestone in its development amid the growing demand for artificial intelligence hardware. The company announced plans to launch an initial public offering domestically while remaining open to a US listing at a later date,
Atomic Energy & Coal: Korea’s Hormuz Survival Plan
South Korea’s ruling party, the Democratic Party, has introduced an emergency energy plan to stabilize its economy amid tensions in the Middle East, which have disrupted oil and gas supplies from the region via the Strait of Hormuz. Since they import their energy sources in full, they are changing their
Lee Warns US Immigration Raids Could Discourage Investment
South Korean President Lee Jae Myung addressed the recent U.S. immigration raid at a Hyundai Motor project site in Georgia, which resulted in the detention of approximately 300 South Korean workers. He expressed concern that such events could influence U.S. investment decisions by Korean companies, citing the confusion and hesitancy
South Korea’s Ex First Lady Kim Keon Hee Indicted on Bribery Charges
Kim Keon Hee, the wife of South Korea’s former President Yoon Suk Yeol, was officially charged with bribery and other crimes by a special prosecution team on Friday. This development occurs amidst an expanding investigation into the nation’s martial law crisis and related scandals involving the now-retired power couple. Both
Ex-President Yoon’s Wife Joins Him in Jail After Corruption Charges
Kim Keon Hee, South Korea’s former first lady, was taken into custody on Tuesday night after a court approved her arrest over alleged corruption, a charge she disputes. The move marks a pivotal moment in an expanding special investigation. Kim Keon Hee is now the first former first lady in
South Korea’s Court Exonerates Samsung Chairman Lee in the 2015 Fraud Case.
South Korea’s Supreme Court cleared Samsung Chairman Jay Y. Lee of accounting fraud and stock manipulation charges related to the 2015 $8 billion merger, dismissing all charges. This enables Lee to focus on Samsung’s strategic objectives, including the development of advanced AI chips. The case, linked to a deal between
South Korea’s Ex-Leader Yoon Returns to Jail as the Martial Law Investigation Speeds Up
Former South Korean President Yoon Suk Yeol was detained again on Thursday, placed in a solitary cell with basic food, after prosecutors secured a new detention warrant related to his attempted martial law last year. The Seoul Central District Court approved the warrant, citing concerns that Yoon might destroy evidence.
South Korea Appoints Yeo Han-Koo as New Trade Minister
South Korea appointed Yeo Han-Koo, the former chief trade official, as the new trade minister at the President’s office to lead the tariff negotiation talks with the US. As Asia’s fourth-largest economy, it plans to hold talks with the US to reduce the tariffs. The US imposed a 25% tax
Trump’s Energy Council Eyes Asian Backing for Alaska LNG Project
In a major push for U.S. energy dominance, President Donald Trump’s Energy Security Council is planning a high-stakes summit in Alaska in early June. The goal? To secure official commitments from Japan and South Korea for the $44 billion Alaska LNG project, according to a source familiar with the planning.
