The decades-old rivalry between HD Hyundai and Hanwha Ocean is moving across the Pacific, as the two shipbuilding giants race for a much bigger prize: entry into the US naval shipbuilding market. Hanwha has seized an early lead. After acquiring Philadelphia-based Philly Shipyard, it is now pursuing Austal USA, a major supplier of vessels to the US Navy and Coast Guard. HD Hyundai has taken a more cautious route, favoring partnerships with American shipbuilders over outright acquisitions, but tha

A surge in long-term US Treasury yields is driving up borrowing costs in Korea, lifting government bond yields and adding pressure on companies, households and stocks. The spillover was on full display last week. As the US 30-year yield climbed to 5.33 percent, its highest since 2007, Korea’s 30-year government bond yield surged to a record 4.751 percent. The yields have since retreated, but the underlying pressures — heavy US debt issuance, aggressive AI-related borrowing and weakening demand f

South Korea wants to move another wave of public institutions out of the capital region. But unions representing financial regulators and policy bodies warn that decentralization could slow crisis response, weaken oversight and drive skilled employees out. The dispute is intensifying as the government prepares the second phase of its decadeslong effort to spread jobs and economic activity beyond Seoul. A road map initially expected in September may now come in October or November, as the governm

Hyundai Motor Group’s plan to begin deploying Atlas humanoid robots at its Georgia plant in 2028 is exposing a trans-Pacific divide over automation. Korean union workers are demanding job protections, while organized resistance has yet to emerge at Hyundai’s nonunion US factories. Hyundai has not announced plans to deploy Atlas at its Korean plants. Still, its Korean union raised the potential impact of physical artificial intelligence and robotics during this year’s labor negotiations, seeking

After more than a decade, the Bank of Korea is back on a gold-buying spree, raising its exposure to the precious metal as it joins central banks around the world in diversifying their foreign reserves. According to the BOK, the central bank currently holds 104.4 metric tons of gold, valued at $4.79 billion, or 1.1 percent of its total foreign exchange reserves of $427.36 billion at end-June. The relatively small share highlights the BOK's limited exposure to gold compared with other central bank

Samsung Display is restarting construction of its A7 OLED plant in Asan, South Chungcheong Province, five years after the project was suspended, as demand for foldable smartphones begins to justify fresh capacity. The company’s investment review committee approved structural construction of A7 on Aug. 7, with contracts to be placed from this month. Full-scale construction is expected to begin next year, aiming for completion by early 2028. Samsung Display CEO Yi Chung on Wednesday credited folda

Bill Gates’ latest trip to Seoul has drawn attention to a potentially bigger role for South Korea in the fast-growing global market for small modular reactors. During his visit last week, the TerraPower founder met senior government officials and the heads of SK Group and HD Hyundai. TerraPower also signed a series of new agreements that pulled Korean firms deeper into the US nuclear developer’s supply chain. SK Innovation, South Korea’s largest refiner, signed a preliminary agreement to jointly

“I thought it would feel awkward because it looked so short and wide in photos,” said Kwon Ji-hyun, a 35-year-old woman who had bought every Galaxy Z Flip before switching last week to Samsung’s new, wider Fold8. “Just a few days later, I felt the opposite. My husband’s larger, more traditional Fold8 Ultra started to seem like the unusual one.” Kwon is exactly the kind of buyer Samsung’s book-style Fold rarely won over before. She was far from alone. Female Fold buyers in their teens through 30s

Ahn Ha-young’s rising career has hit a major roadblock after comments about her family history sparked backlash over allegations that her great-grandfather was linked to Japan’s colonial rule of Korea, just days before Liberation Day on Aug. 15. The uproar has revived the debate over whether descendants should be held accountable for their ancestors’ actions — with experts stating the Korean public increasingly places more weight on how descendants conduct themselves today than on their lineage

The artificial intelligence boom is changing not only how much memory chipmakers produce, but also how they sell it. The world's top three memory chipmakers — Samsung Electronics, SK hynix and Micron Technology — are increasingly locking customers into long-term supply agreements lasting as long as five years as global tech companies race to secure memory for AI data centers. The shift marks a departure from an industry long dominated by quarterly negotiations and short-term orders, potentially