Outlook mixed as Korea's pension giant weighs on foreign exchange hedging As South Korea’s currency market grapples with heavy fluctuations, attention is turning to whether the nation's sovereign wealth fund, the National Pension Service, can help stabilize the won by bolstering its foreign exchange hedging strategies. The Korean won had a rough year-end as the country struggled with ongoing political turmoil, involving impeachments and protests. The won’s value plunged to 1,486.7 per dollar dur

When the fire broke out and rapidly spread, there were hundreds inside the building, including elementary students taking swimming lessons When a fire erupted Friday in a bustling commercial building near Yatap Station in Seongnam, Gyeonggi Province, it had all the makings of a deadly tragedy. The flames, which started in the kitchen of a restaurant on the first floor, quickly spread up the building’s exterior, spewing thick black smoke. Yet, more than 300 people escaped safely or were rescued b

Korean currency's value against dollar plunges to weakest level in 15 years The Korean won continues to struggle with sharp devaluation against the dollar as the country is pressured by rising tensions in local politics and the reshaped global trade environment. On Friday, the won's value against the greenback touched 1,486.7 won during intraday trading. It was the first time the won-dollar exchange rate had hit the 1,480 won bar in nearly 16 years since reaching 1,488.5 won on March 16, 2009, a

South Korea’s parliament voted Friday to impeach acting President and Prime Minister Han Duck-soo, who had been filling in for President Yoon Suk Yeol since he was impeached on Dec. 14. This is the latest development in an unprecedented political crisis that has unfolded in South Korea this month, stemming from the now-suspended Yoon’s botched attempt to invoke military rule on Dec. 3. Here’s what you need to know to catch up with what’s going on in South Korean politics. • South Korean politics

The decline in North Korean provocations reflects its political burden of managing strategic uncertainties while strengthening ties with Russia.

Amid the rapidly expanding global virtual asset market, South Korea has decided to push back cryptocurrency trading taxation until 2027. On Tuesday, the National Assembly passed a revised Income Tax Act, which includes a two-year delay on taxing income from virtual asset trading, initially planned f

Volkswagen-backed Swedish battery maker files for bankruptcy after failing to narrow gap with Asian rivals Northvolt, backed by Volkswagen Group, was once hailed as Europe’s hope for an electric vehicle battery champion to challenge the creeping presence of Asian competitors. In a bid to spur growth

Korean auto giant expected to log record spending in US lobbying this year Hyundai Motor Group is on track to report record-high spending for lobbying in the United States this year as the Korean auto conglomerate continues to ramp up its presence and influence in Washington, DC According to OpenSec

Investors anticipate financial service providers to receive a welcome boost under Trump, riding on eased rules and higher rates Shares of local banks are putting up a fight in the bearish Korean stock market, as investors are pricing in expectations that lenders could excel in the second Donald Trum

Next US president’s tough stance could buy Hyundai-Kia time Donald Trump’s impending return to the White House has reignited fears of trade protectionism in the global auto industry. But the real question for automakers may not be about tariffs or changes to the Inflation Reduction Act. Trump’s stan