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US initiatives prompt fears of hollowing out of S. Korean manufacturing More and more South Korean companies are announcing plans to invest in the US in step with the US government’s policy of providing incentives to major industries and favoring US-made products, designe Fri, 16 Sep 2022 16:57:06 GMT
Won-dollar exchange rate poised to break 1,400 won for third time in history The won-dollar exchange rate has risen above 1,390 won, putting it on the cusp of 1,400 won.The exchange rate rose at a faster clip after the US consumer price index for August jumped 8.3% from last y Thu, 15 Sep 2022 16:48:30 GMT
Korean biotech industry warily runs numbers on Biden’s latest protectionist push US President Joe Biden recently signed an executive order aimed at building a US-centered supply chain for the biotechnology industry, which joins previous ones for semiconductors and electric vehicle Thu, 15 Sep 2022 16:43:23 GMT
Strong dollar met with jeers from some Korean industries, cheers from others South Korean industries are on edge as the exchange rate approaches 1,400 won to the US dollar.While some exporting businesses stand to secure price competitiveness as the won’s value slides, many com Thu, 15 Sep 2022 16:34:34 GMT
Trade deficit, faltering chip business add to Korean won’s downward spiral The won-to-dollar exchange rate passed 1,388.40 during trading Wednesday, leading many to predict it is only a matter of time before it crosses the 1,400 mark.With no external variables likely to brin Thu, 08 Sep 2022 16:41:54 GMT
Dipping current account balance warns of complex crisis for S. Korean economy Alarm bells are ringing for South Korea’s current account balance, a key indicator of Korea’s commercial health. The trade deficit has been driven up by the soaring exchange rate and the rising prices Thu, 08 Sep 2022 16:39:20 GMT
70% of Korean semiconductor experts see sector as in or nearing crisis Recently, South Korean semiconductor companies such as Samsung Electronics and SK Hynix have been considering adjusting their investment plans for the remainder of this year and next year. Uncertainty Tue, 06 Sep 2022 17:20:23 GMT
Won falls further against dollar, putting exchange rate at over 13-year high The won-to-dollar exchange rate surpassed 1,370 won, continuing to shoot up without an end in sight. The rise of the dollar’s value internationally, coupled with South Korea’s trade deficit and the we Tue, 06 Sep 2022 17:16:26 GMT
Shaking up the “silicon age,” Chip 4 aims to build networks, not walls When the owner of an established manufacturer of memory semiconductors published a book in 2017, he titled it “Semiconductors in the Silicon Age.” That was a reference to the fact that semiconductors Sun, 04 Sep 2022 11:04:52 GMT
Soaring import costs force S. Korean GNI down 1.3% in Q2 Rising import prices have prompted the South Koreans’ net income to decrease by 1.3% between the first and second quarters of the year. With worsening terms of trade leading to lower national income, Fri, 02 Sep 2022 17:07:45 GMT
Won-dollar exchange rate edges nearer to 1,355 on record trade deficit The won-to-dollar exchange rate shot up to right below 1,355 won on Thursday, while stock prices dropped by roughly 2% due to the weakening won and concerns about an economic recession.On Thursday, th Fri, 02 Sep 2022 17:04:45 GMT
Korea posts its highest-ever monthly trade deficit at US$9.47B in August On Thursday, the Ministry of Trade, Industry and Energy (MOTIE) released a tentative report on South Korea’s export and import trends for August, which included multiple details that cast a dark shado Fri, 02 Sep 2022 16:51:12 GMT
[News analysis] In US-China semiconductor war, is Korea the odd man out? The first official step taken by Samsung Electronics Vice Chairman Lee Jae-yong following his pardon on Liberation Day was attending the groundbreaking ceremony of a next-generation semiconductor R&am Wed, 31 Aug 2022 17:13:19 GMT
Won-dollar exchange rate tops 1,350 after US Fed hints at rate hikes In the wake of US Federal Reserve Chair Jerome Powell’s hawkish monetary policy remarks at the Jackson Hole conference on Friday, the won-dollar exchange rate surpassed the 1,350-won mark while the KO Tue, 30 Aug 2022 17:14:53 GMT
Historic rate hikes leave Korean borrowers strapped “Valued customer, the interest rate for your loan was adjusted to 6.27% on Aug. 24.”Text messages like this make 40-year-old office worker Han’s heart sink in panic these days. Early in the year, Han Fri, 26 Aug 2022 17:18:21 GMT

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