In-Soo Nam

South Korea

English News Editor at The Korea Economic Daily

KED Global (한국경제) English news editor. Previously The Wall Street Journal, Bloomberg News, Reuters.

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Articles

Lee names nominees for prime minister, spy agency chief, other key posts

5 days ago | kedglobal.com | In-Soo Nam

South Korean President Lee Jae-myung on Wednesday unveiled his nominees for major government posts, including the prime minister and the spy agency chief, in his first round of appointments just hours after he took office. Kim Min-seok, a student-activist-turned-four-term-lawmaker of the Democratic Party (DP), was tapped as the new prime minister. Kim served as Lee’s top presidential campaign aide.
Lee acquires military control as S.Korean president, begins appointments

5 days ago | kedglobal.com | In-Soo Nam

Lee Jae-myung was formally sworn in as South Korea’s new president on Wednesday at 6:21 a.m., marking a dramatic and immediate transfer of power in the wake of a snap election triggered by a presidential vacancy. The National Election Commission convened earlier in the day to officially confirm Lee, of the main opposition Democratic Party (DP), as the country’s 21st president following his decisive victory overnight.
LG Electronics breaks ground on $600 mn home appliance plant in India

1 month ago | kedglobal.com | In-Soo Nam

South Korea’s LG Electronics Inc. has broken ground on its third home appliance manufacturing plant in India with a $600 million investment to expand its production footprint in one of the world’s fastest-growing consumer markets. The new plant, to be located in Sri City, an industrial hub in the eastern state of Andhra Pradesh, follows the company’s existing facilities in Noida and Pune, and underscores LG’s ambition to solidify its standing as the leading appliance brand in India.
KakaoBank posts record Q1 profit, eyes Thai expansion after Indonesia

1 month ago | kedglobal.com | In-Soo Nam

KakaoBank Corp., a leading South Korean internet-only bank, posted its highest quarterly profit in the first quarter, defying a drop in interest income, as the digital lender saw a surge in non-interest revenue and platform usage. The online banking unit of the country’s tech giant Kakao Corp. said in a regulatory filing on Wednesday that its net income in January-March stood at 137.4 billion won ($98.5 million), up 23.6% from 111.2 billion won a year earlier.
Hyundai Motor posts solid Q1; rough road ahead on Trump's auto tariffs

1 month ago | kedglobal.com | In-Soo Nam

South Korea’s top automaker Hyundai Motor Co. defied mounting global trade headwinds and a fresh round of US import tariffs to deliver record first-quarter revenue and stronger-than-expected earnings, boosted by resilient demand for hybrid vehicles, favorable exchange rates and solid US sales.
SK Hynix’s Q1 profit soars on HBM chips, beats Samsung’s overall earnings

1 month ago | kedglobal.com | In-Soo Nam

SK Hynix Inc., the world’s second-largest memory chipmaker, reported a dramatic surge in first-quarter profits on Thursday, delivering the second-highest quarterly earnings in its history, driven by soaring demand for high-bandwidth memory (HBM) used in artificial intelligence applications. The South Korean chipmaker's performance exceeded market forecasts and that of its domestic rival Samsung Electronics Co., underscoring its growing dominance in the premium memory sector.
BOK stands pat; rate cut likely within 3 months as economic growth slows

1 month ago | kedglobal.com | In-Soo Nam

The Bank of Korea (BOK) left its benchmark interest rate unchanged at 2.75% on Thursday. Governor Rhee Chang-yong warned that a surge in global uncertainty – exacerbated by abrupt shifts in US trade policy – had thrown the domestic economy into “a dark tunnel.”Speaking at a post-decision press conference, Rhee likened the current economic environment to entering “a tunnel suddenly gone dark,” saying that the central bank would “wait until the light turns on again” before adjusting policy speed.
S&P reaffirms South Korea’s AA credit rating with stable outlook

1 month ago | kedglobal.com | In-Soo Nam

S&P Global Ratings has reaffirmed South Korea’s sovereign credit rating at AA with a stable outlook, citing the country’s resilient economic fundamentals and prudent fiscal management despite global uncertainties. The decision, announced on Tuesday, maintains Korea’s long-term foreign currency rating at AA, the third-highest on its sovereign ratings table, which it has held since August 2016, when the agency upgraded it from AA-.
Ex-US Congressman Drew Ferguson heads Hyundai's Washington office

1 month ago | kedglobal.com | In-Soo Nam

Hyundai Motor Group has appointed former Republican Congressman Drew Ferguson as head of its Washington office, a strategic move designed to bolster the South Korean automaker’s influence in its most important overseas market. Ferguson, who represented Georgia’s 3rd congressional district for four terms until leaving office in 2023, will assume the role on May 1, Hyundai said in a statement on Tuesday.
IFEZ posts 2nd-highest Q1 FDI performance with $309.6 million

2 months ago | kedglobal.com | In-Soo Nam

The Incheon Free Economic Zone (IFEZ) Authority said on Monday that it attracted $309.6 million in reported foreign direct investment (FDI) in the first quarter, marking its second-highest quarterly performance since its establishment in 2003. The figure represents 51.6% of the authority’s annual target of $600 million, placing the agency on track to once again exceed its FDI goal following a record-setting year in 2024.