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Seoul shares open sharply lower as new Iran leader vows to keep Hormuz blockade
South Korean stocks started sharply lower Friday after the new Iranian leader vowed to maintain the blockade of the crucial Middle East waterway, pushing global crude prices toward the $100 level. The benchmark Korea Composite Stock Price Index (KOSPI) fell 170.86 points, or 3.06 percent, to 5,412.39 at the opening bell. The index edged down 0.48 percent Thursday. Overnight, the Dow Jones Industrial Average shed 1.56 percent to its lowest point this year. The tech-heavy Nasdaq Composite fell 1.7
March 13, 2026 -
Seoul shares close lower on extended Middle East tension; won sharply down
South Korean stocks closed lower Thursday amid escalating tensions in the Strait of Hormuz, which triggered extreme volatility in global oil prices. The local currency fell sharply against the greenback. The Korea Composite Stock Price Index moved down 26.7 points, or 0.48 percent, to close at 5,583.25. Trade volume was heavy at 794.1 billion shares worth 23.6 trillion won ($15.9 billion), with gainers outpacing losers 569 to 321. Foreigners sold a net 2.36 trillion won while individuals bought
March 12, 2026 -
Korea to focus 2027 R&D on AI, biotech, quantum
South Korea’s Ministry of Science and ICT on Thursday unveiled its direction for 2027 national research and development investment, prioritizing artificial intelligence, advanced biotechnology and quantum technologies. Speaking at a press briefing in Seoul, Park In-kyu, vice minister for science, technology and innovation, said next year’s R&D spending will focus on applying AI to drive innovation and deliver tangible benefits to the public. “Next year’s R&D investments will center on harnessing
March 12, 2026 -
US trade probe puts pressure on South Korea over surplus
The US has launched a sweeping trade investigation into 16 key trading partners, including South Korea, China and Japan, in a move that could set the stage for new tariffs as the Trump administration seeks to restore duties recently struck down by the US Supreme Court. The US Trade Representative Jamieson Greer said Wednesday his office would begin a probe under Section 301 of the 1974 Trade Act. The legal tool allows Washington to investigate foreign trade practices deemed unfair, and depending
March 12, 2026 -
National Assembly passes Korea-US strategic investment bill
The National Assembly on Thursday passed a special bill to facilitate Seoul’s $350 billion investment in the United States, as part of a bilateral strategic investment framework struck with Washington last year. The bill was approved with 226 in favor, eight against and eight abstentions, with 242 of the 296 lawmakers present. The legislation stems from a bilateral understanding between Seoul and Washington to expand Korean investment in the United States across key sectors such as manufacturing
March 12, 2026 -
LG Display to boost capex as OLED sales top 60%
LG Display plans to raise capital expenditure this year to the mid- to upper-2 trillion won range, more than 1 trillion won above the 1.4 trillion won ($947.1 million) it spent in 2025, as the South Korean panel-maker steps up OLED-focused investment. In its 2025 annual report filed Wednesday, LG Display said it spent 1.4 trillion won on facilities to expand production capacity for differentiated products, including organic light-emitting diode, or OLED, panels. For 2026, it said spending will i
March 12, 2026 -
Line Plus enters AI agent race with ActEngine AI
Line Plus, the Korean subsidiary of Line Corporation, on Thursday unveiled ActEngine AI, an artificial intelligence platform designed to automate customer support and sales operations, marking its push into the fast-growing enterprise AI market across Asia. Unlike conventional query-based chatbots, ActEngine AI uses execution-based AI agents capable of performing tasks such as customer service, complaint handling and sales proposals. The platform allows companies to manage and deploy AI agents t
March 12, 2026 -
NCSoft targets W5tr in revenue by 2030
NCSoft said Thursday it aims to achieve 5 trillion won ($3.4 billion) in annual revenue by 2030, outlining the goal during its 2026 Management Strategy Briefing held at the company’s R&D Center in Pangyo, Seongnam. The game developer presented three core growth strategies: expanding its legacy intellectual property, developing new IPs and growing its mobile casual gaming business, while continuing to strengthen major franchises including Lineage, Aion, Guild Wars 2 and Blade & Soul. To secure ne
March 12, 2026 -
Why Korean investors are piling into China robotics ETFs
As Korean companies try to reduce exposure to China amid rising geopolitical tensions, Korean retail investors are doing the opposite — increasing their bets on China’s humanoid robotics industry. The contrast highlights a widening gap between corporate strategy and investor sentiment, as many investors see China’s dominance in manufacturing and supply chains as a key advantage in the emerging robotics economy. Humanoid robotics has quickly become one of the most closely watched technology battl
March 12, 2026 -
Estee Lauder's Lab Series exits Korea department stores after 35 years
US cosmetics giant Estee Lauder Companies is pulling its men’s skin care brand Lab Series from South Korea’s traditional retail channels after more than three decades, shifting its focus to online and multibrand outlets, industry sources said Thursday. The brand is set to exit all domestic department stores this year — including Lotte Department Store Myeongdong by August — ending a run that began with its debut at the same retailer in 1991. The move marks a retreat for a label that once defined
March 12, 2026 -
Why Korean memory giants aren't rushing to expand DRAM supply
The world suddenly cannot get enough memory chips. Artificial intelligence data centers are consuming unprecedented volumes of DRAM, pushing prices higher and squeezing supply for everything from smartphones to laptops. The two companies at the center of that boom, Samsung Electronics and SK hynix, earned more than 72.1 trillion won ($48.7 billion) in operating profit last year. And yet the shortage continues. The question seems obvious. If demand is booming and profits are soaring, why not simp
March 12, 2026 -
Samsung Biologics showcases CDMO capabilities in Singapore
Samsung Biologics has highlighted its contract development and manufacturing organization, or CDMO, capabilities at Biologics Manufacturing Asia 2026 in Singapore, receiving a bioprocessing excellence award during the two-day event. According to Samsung Biologics on Thursday, the Korean CDMO leader presented its top-notch CDO technologies and services at the conference on Wednesday. Lim Heon-chang, director of formulation development at Samsung Biologics’ CDO division, introduced case studies of
March 12, 2026 -
Autonomous A2Z completes W40.5b funding, gears up for IPO this year
Autonomous A2Z said Thursday it has completed a 40.5 billion won ($27.4 million) pre-IPO funding round, bringing its total funding to 122.5 billion won — the largest amount raised by a self-driving startup in Korea. The funding comes ahead of the company’s planned initial public offering later this year at the nation’s tech-heavy Kosdaq. It will support expansion of autonomous mobility projects at home and abroad, as well as investment in infrastructure and talent to advance end-to-end AI-based
March 12, 2026 -
Hyosung Heavy secures first ESS project in Australia
Hyosung Heavy Industries said Thursday it has signed a 142.5 billion won ($96.3 million) contract in Australia to build energy storage system infrastructure, marking the company’s first ESS supply project in the country. The Korean power equipment manufacturer signed the agreement with Tangkam BESS, an Australian project company, to construct a 100-megawatt, 200-megawatt-hour battery energy storage system in Tangkam, Queensland, near Brisbane on Australia's eastern coast. The system will be capa
March 12, 2026 -
GEAN names winners of 2026 e-mobility awards
The Global E-Mobility Alliance Network, or GEAN, based on Jeju Island, said Wednesday it had selected six award recipients for their contributions to advancing the global electric mobility industry. The 2026 GEAN Awards and Special Awards will be presented on March 25, during the opening ceremony of the 13th International e-Mobility Expo, which will take place at Jeju Shinhwa World. Recipients of the 2026 GEAN Awards include South Korean energy solutions provider LS Electric, China’s Nansha Dist
March 12, 2026