Seven months after winning a lawsuit to annul the Investor-State Dispute Settlement (ISDS) award with the US private equity fund Elliott, the government has lost again in the remanded arbitration, becoming liable for compensation of about 65.8 billion won ($48.49 million).Although a UK court partial
Lee Jae-yong, chairman of Samsung Electronics, paid tribute to the sacrifices of Korean War veterans in London while highlighting the more than 140-year relationship between South Korea and the United Kingdom. On Sept. 30 (local time), Chairman Lee attended a gala dinner celebrating the opening of t
John Moolenaar, chair of the House Select Committee on China, has sent a letter to Secretary of State Marco Rubio urging close scrutiny and a firm response to the deepening of South Korea-China relations. The move stems from Moolenaar’s view that South Korea’s shifting posture across the economic, t
President Donald Trump unilaterally announced the detailed projects of South Korea’s investment in the United States, amounting to approximately 270 trillion won (about $200 billion), at the White House Oval Office in Washington, D.C. on Oct. 30 (local time).Strong repercussions are expected from th
South Korea's monthly exports surpassed $120 billion for the first time in September, setting a new record. Semiconductor exports also exceeded $60 billion for the first time for a single product category, driving the overall growth.According to the September export and import report released by the
It was found that foreign exchange authorities injected nearly $10 billion in foreign exchange reserves in the second quarter as well to stabilize the exchange rate. Combined with the net selling amount in the first quarter, it exceeds $20 billion.According to the ‘Details of Market Stabilization Me
Incheon Metropolitan City has decided to expand practical research cooperation in future high-tech industries, including biotechnology and marine sectors, ahead of the 125th anniversary of diplomatic relations with Belgium.Incheon Mayor Park Chan-dae held a meeting with Belgian Ambassador to Korea B
U.S. President Donald Trump is expected to announce South Korea’s investment plans in the United States from the Oval Office as early as Sept. 30 (local time). The announcement would mark the first phase of South Korea’s total $350 billion investment commitment agreed as part of last year’s U.S.-Sou
Even as key leading indicators such as construction orders and permits have begun to rebound, coincident indicators reflecting actual construction activity remain weak. The Korea Research Institute for Construction Policy released its report, “Construction Market and Issues by Indicator,” on Sept. 3
The rapid recovery of the semiconductor industry and improved corporate earnings have significantly reshaped the government’s tax revenue outlook. The Ministry of Finance and Economy convened the Tax Revenue Estimation Committee on Sept. 30 and announced that national tax revenue for this year had b
Sentiment among domestic manufacturers deteriorated sharply within a single month. The upward momentum driven by strong semiconductor exports has reversed, with the index posting its largest drop in four years. The decline is attributed to a combination of factors, including lower operating rates ca
The government’s plan to merge four port authorities has come under scrutiny after it was revealed that the plan was announced without specific economic impact analysis or sufficient stakeholder consultation. The Ministry of Oceans and Fisheries, the ministry with jurisdiction over the matter, had n
Warnings are growing louder that South Korea, which sources more than 90% of its energy from imports, risks being left behind in the global competition for hydrogen energy. While geopolitical risks such as the Middle East conflict have heightened the importance of energy security, prompting major na
The large-scale discounts offered during the Chuseok holiday have ended, while prices for food, transportation and leisure activities are all set to rise. The wave of price increases immediately following the holiday reflects a combination of companies’ mounting cost pressures and transportation ope
Five days have passed since the South Korean government briefed the National Assembly on its plans to pursue investment projects in the United States, yet no official announcement has been made by the U.S. side. The situation is notable given that the United States has repeatedly urged South Korea t
The European Union (EU) has decided to expand its import restrictions on Grain-Oriented Electrical Steel (GOES) to include laminated plates and cores for transformers, and even cores installed inside finished transformers. The domestic power equipment industry, which had been enjoying a boom due to
Seventy-nine vessels operating near Baengnyeong Island, the northernmost point of the Yellow Sea, were ordered to evacuate to nearby ports after a North Korean fighter jet crossed the Tactical Action Line (TAL) and flew southward. South Korean military authorities detected the aircraft’s movement an
The number of babies born in July exceeded 24,000, marking the highest figure for the month in seven years. The year-over-year increase, which began in July 2024, has now continued for 25 consecutive months.According to the “July 2026 Population Trends” released by the National Data Agency on Sept.
Samsung Heavy Industries has become the first of South Korea’s three major shipbuilders to conclude this year’s wage negotiations, bringing months of labor-management tensions to an end. The settlement is the only agreement reached so far among the three major shipbuilders, as the unions at Hanwha O
The Asian Development Bank (ADB) has raised its economic growth forecast for South Korea this year to 3.2%, citing strong exports driven by global demand for artificial intelligence (AI) semiconductors and a gradual recovery in private consumption. The latest revision marks a 1.3 percentage-point in
