SK hynix Vice Chairman Park Jung-ho said Friday his company stopped doing business with Huawei Technologies Co., following US chip sanctions against China in 2020 and has not supplied semiconductors to the Chinese smartphone maker. Last week, the chipmaker said it opened an internal investigation into how its memory chips ended up in a new smartphone made by Huawei, after Bloomberg News reported that the South Korean chipmaker's DRAM -- LPDDR5 -- and NAND Flash memory are used in the Chin

Industry Sept. 15, 2023

South Korea's economic slowdown appears to be gradually easing on signs of a recovery in exports, the finance ministry said Friday, although volatility in global raw material prices is a threat. "The economic slowdown has seen some relief due to the improving trend in exports, including semiconductors, along with the recovery in consumer sentiment and employment," the Ministry of Economy and Finance said in a report. The country's exports fell for the 11th consecutive month i

Economy Sept. 15, 2023

South Korea's military has identified the remains of another soldier killed during the 1950-53 Korean War, nearly two decades after their discovery at a former battle site, the defense ministry said Friday. The ministry's Agency for KIA Recovery and Identification recovered the remains of Pfc. Park Dong-geun in Pohang, 262 kilometers southeast of Seoul, in 2005. KIA stands for killed in action. The agency identified the remains as his through a DNA analysis using a sample from a family

Defense Sept. 15, 2023

South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Market Sept. 15, 2023

South Korea's inflation is anticipated to begin slowing down next month amid lingering woes over soaring oil prices, the top economic policymaker said Friday. "This year, the country's consumer prices are continuing on a path of decline," Finance Minister Choo Kyung-ho said during a government meeting ahead of the Chuseok holiday. He said the country still needs to be vigilant as risks, including higher global crude prices, linger. The Dubai crude price, South Korea's be

Economy Sept. 15, 2023

The US Department of Defense warned North Korea Thursday that its arms support to Russia would not only prolong the war in Ukraine but also be tantamount to "directly" joining the killing of innocent Ukrainians. Deputy Pentagon spokesperson Sabrina Singh made the remarks after this week's summit between North Korean leader Kim Jong-un and Russian President Vladimir Putin raised the prospects of Pyongyang sending more ammunition to Russia for use in the war in Ukraine. "I thin

Foreign Affairs Sept. 15, 2023

VLADIVOSTOK, Russia -- North Korean leader Kim Jong-un's special train appears to be moving toward Russia's Far Eastern city of Khabarovsk on Thursday, a day after his rare summit with President Vladimir Putin, according to sources. According to the sources, Kim's olive green, bullet-proof train appears headed toward the Russian city of Komsomolsk-on-Amur, where he will visit an aircraft factory, following his meeting with Putin held Wednesday at the Vostochny spaceport where he

North Korea Sept. 14, 2023

South Korean stocks jumped more than 1.5 percent to hit a more than one-week high Thursday as investors were boosted by the latest US inflation data that would tone down the Fed's hawkish view on interest rates. The local currency increased against the US greenback. The benchmark Korea Composite Stock Price Index gained 38.19 points, or 1.51 percent, to finish at 2,572.89, the highest since Sept. 5, when the index finished at 2,582.18. Trading volume was moderate at 406.1 million shares wor

Market Sept. 14, 2023

The coast of Ulsan, a major industrial city in the southeast, was once a site where pods of gray whales were easily spotted, a scene that has become rare as marine pollution and whale hunts took a toll. Among the factors that made the whales disappear, the marine waste issue was what inspired Byun Eui-hyun, CEO of Usisan, to start a business to help clean up the ocean and save the endangered largest animal on Earth from dying from ingesting plastics. "We are the first plastic upcycling comp

Industry Sept. 14, 2023

Samsung Electronics Co. has finished installing four LED billboards at St. Peter's Square in the Vatican, where the Pope gives his weekly address. Samsung's billboards became operational in time for the Papal Audience, the general audience session held every Wednesday morning for Catholic followers and tourists visiting the revered sanctuary. A Samsung delegation visited the Vatican to meet Pope Francis on Wednesday morning to mark the installation, before meeting Cardinal Lazarus You

Industry Sept. 14, 2023

Dozens of lawmakers from the ruling and opposition parties were to depart for Tokyo on Thursday for an annual meeting with their Japanese counterparts. A total of 39 members of the South Korea-Japan Parliamentarians' Union are scheduled to meet with Korean residents in Japan later Thursday before attending the union's 44th joint conference with Japanese lawmakers Friday. They also plan to meet with Japanese Prime Minister Fumio Kishida on Friday. During the conference, the lawmakers pl

Politics Sept. 14, 2023

South Korean stocks started higher Thursday as concerns over a further rate hike by the Federal Reserve were eased despite higher-than-expected US inflation data. The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.51 percent, to 2,549.69 in the first 15 minutes of trading. The US consumer price index rose 3.7 percent in August from a year earlier due to high-flying oil prices. But analyst said the US central bank is expected to keep its key rate steady at the upcoming rate-s

Market Sept. 14, 2023

The US Department of State has approved a possible sale to South Korea of up to 25 F-35A radar-evading fighters and related equipment to help the East Asian ally maintain a "credible" defense capability, a government agency said Wednesday. The Defense Security Cooperation Agency under the Department of Defense made the announcement on the potential government-to-government Foreign Military Sale estimated to cost US$5.06 billion. "The proposed sale will improve the Republic of Kore

Defense Sept. 14, 2023

The United States is concerned about growing defense cooperation between North Korea and Russia, a National Security Council official said Wednesday, adding the US will take appropriate steps if necessary to counter any potential arms deal between the two countries. John Kirby, NSC strategic communications coordinator, underscored that Russian support for North Korea's illicit nuclear and ballistic missile programs would be of "significant concern" to the US. "In a similar fa

Foreign Affairs Sept. 14, 2023

North Korean leader Kim Jong-un on Wednesday pledged to throw his full support behind Russian President Vladimir Putin as the two isolated leaders held a rare summit at Russia's rocket launch facility, as concerns grow over a possible arms deal between Pyongyang and Moscow. Proposing a toast at an official dinner after the summit, Kim told Putin that the Russian army and people will triumph over "evil" forces, in apparent endorsement of its war in Ukraine. Kim said he was confid

North Korea Sept. 13, 2023