Topic
south korea
Technology AI chip boom yet to lift South Korea's wider economy, Nomura economist sees limited spillover
South Korea's AI-driven semiconductor boom has yet to meaningfully lift the broader economy, according to Nomura senior economist Park Jeong-woo. Semiconductor export strength is largely price-driven with unexceptional volume growth, and consumption remains mixed with luxury spending up but auto sales down. Nomura expects the Bank of Korea to raise rates in July to 3.25% due to financial stability concerns, despite inflation being supply-driven.
Logistics HD Hyundai and Malcon Partner to Develop Korean Offshore Wind Support Vessels
HD Hyundai Heavy Industries has signed a cooperation agreement with Malcon to jointly develop a Korea-type offshore wind support vessel (SOV) optimized for domestic wind farms. The partnership will leverage eco-friendly propulsion technologies and aims to localize vessel production and strengthen South Korea's position in the offshore wind market.
Technology Coupang Fined $400M by South Korea for Massive Data Breach Affecting 37.5 Million Users
South Korea's data protection regulator fined Coupang $400M (624.68bn won) for a data breach affecting 37.5 million users, the largest such fine ever. The leak exposed names, contact, delivery details, and order histories. Coupang expressed regret and plans to challenge the decision; its CEO resigned.
Logistics International Seaways Orders LNG-Ready Tankers in South Korea
International Seaways has contracted two LNG-ready LR1 product tankers at K Shipbuilding in South Korea, with options for two more. This move aligns with their fleet optimization strategy, following recent vessel sales and platform expansions.
Business South Korea Surpasses India in Global Stock Market Rankings
South Korea has overtaken India to become the world's sixth-largest stock market, driven by a surge in semiconductor stocks like Samsung Electronics and SK Hynix. This shift highlights the impact of the AI boom on global equity markets.
Trade India, South Korea to Tackle Trade Deficit in CEPA Talks
India and South Korea have agreed to address their widening trade deficit during the 12th round of CEPA upgrade talks. The trade deficit reached USD 15.35 billion in 2025-26. Both nations aim to double bilateral trade to USD 54 billion by 2030.