In-Soo Nam

1 week 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.

1 week 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-.

1 week 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.

2 weeks 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.

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

Samsung Electronics Co., the world’s largest memory chipmaker, posted a stronger-than-expected first-quarter operating profit on Tuesday, boosted by robust sales of its flagship Galaxy S25 smartphones and resilient memory chip shipments. The Suwon, South Korea-based tech giant said in a regulatory filing that its operating profit in the January- March period is estimated at 6.6 trillion won ($4.5 billion) on a consolidated basis, narrowly down 0.15% from the year-earlier period.