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

Samsung to thrash out strategy amid Trump, Middle East crisis

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

Samsung Electronics Co., South Korea’s most valuable company, is convening its most senior executives this week to plot its path back to the top of the memory chip market and work out strategies to meet growing geopolitical and trade challenges.
SK, AWS to build South Korea’s largest, multibillion-dollar AI data center

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

South Korea’s second-largest conglomerate SK and Amazon Web Services Inc. (AWS), the world's largest cloud platform provider, will build a 103-megawatt AI data center in the country amid fierce global competition for AI dominance. The two partners will break ground in August on a facility equipped with 60,000 graphics processing units (GPUs) – the largest number of GPUs deployed in any data center in Korea – after a launch ceremony later this month, people familiar with the matter said on Monday.
IFEZ to apply for designation of southern Gangwha as free economic zone

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

The Incheon Free Economic Zone (IFEZ) Authority is set to submit its final application by the end of June to designate the southern end of Ganghwa Island as a free economic zone – a move that officials described as “the final piece” in IFEZ’s longstanding development blueprint. The authority announced on Wednesday that it is entering the final administrative phase to secure approval for the project in Ganghwa, which is located adjacent to Incheon International Airport.
Lee names nominees for prime minister, spy agency chief, other key posts

3 weeks 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

3 weeks 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

2 months 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

2 months 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

2 months 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.