The Korea Economic Daily

The Korea Economic Daily Global Edition is an online news platform that shares insights and analyses about Korean companies, industries, and financial markets with a global audience. Available in seven languages, it offers valuable information on how Korean institutional investors allocate their assets, their future investment strategies, and the latest mergers and acquisitions. This platform serves as an essential resource for investors, business partners, buyers, and global asset managers looking for investment and business opportunities in Korea. This service is created and managed by KED Global News Network, a subsidiary of The Korea Economic Daily.

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BOK stands pat; rate cut likely within 3 months as economic growth slows

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.
LG Energy Solution clinches multi-billion-dollar ESS deals in Japan, Europe

1 week ago | kedglobal.com | Sang-Hoon Sung |Woo-Sub Kim |Jin-Won Kim

LG Energy Solution Ltd. has secured a string of billion-dollar energy storage system (ESS) deals in Japan and Europe, outmaneuvering Chinese rivals in a rare breakthrough for a South Korean battery maker in traditionally China-dominated markets. LG Energy has signed a contract to supply more than 2 gigawatt-hours (GWh) of lithium iron phosphate (LFP) batteries to Japan’s Omron Corp. over five years, starting at the end of this year, people familiar with the matter said on Tuesday.
S&P reaffirms South Korea’s AA credit rating with stable outlook

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-.
Ex-US Congressman Drew Ferguson heads Hyundai's Washington office

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.
With domestic dockyards fully booked, Korean shipbuilders turn overseas

1 week ago | kedglobal.com | Sang-Hoon Sung |Jin-Won Kim

As order books swell due to green shipping mandates, LNG demand and military naval modernization, South Korean shipbuilders are extending their global reach by utilizing overseas dockyards.
Samsung Display picked as sole OLED screen supplier for foldable iPhone - KED Global

1 week ago | kedglobal.com | Jeong-Soo Hwang |Chae-yeon Kim

Samsung Display Co., the display-making unit under Samsung Electronics Co., will exclusively supply organic light-emitting diode (OLED) displays for Apple Inc.’s first foldable iPhone series, which are expected to hit the market late next year. As the South Korean display giant is chosen as the sole provider for the world’s No. 1 smartphone seller, it is projected to cement its lead in the global foldable OLED display market with a share of more than 70% versus the current about 40%.
POSCO eyes investment in Hyundai Steel’s US plant

1 week ago | kedglobal.com | Woo-Sub Kim |Jin-Won Kim |Hyung-kyu Kim

POSCO, the world’s seventh-largest steelmaker, is seeking to invest in smaller rival Hyundai Steel Co.'s first overseas plant in the US, in exchange for local production of its own steel products in the country to mitigate hefty 25% US tariffs on steel imports. If the two strike a deal, it would mark Korea’s top two steelmakers’ first joint investment and production project abroad.
Samsung, Google to unveil smart glasses next year in deeper AI alliance

2 weeks ago | kedglobal.com | Jeong-Soo Hwang

Samsung Electronics Co. and Google LLC are strengthening their long-standing alliance as the artificial intelligence (AI) era redefines the balance of power in the global tech industry. The two tech giants – longtime partners in smartphones, with Samsung supplying hardware and Google powering devices with its Android OS – are now deepening cooperation across next-generation platforms, from home robotics to extended reality (XR) and semiconductors.
Korea launches $27 mn fund to invest in K-beauty startups

2 weeks ago | kedglobal.com | Jung-hwan Hwang

South Korea’s Ministry of SMEs and Startups on Thursday announced the launch of a 40 billion won ($27 million) fund to invest in Korean beauty startups to support their global expansion following US tariff hikes. Kolmar Korea and Cosmax Inc. – the world’s leading original development manufacturers (ODM) of cosmetics products -- are anchor investors in the fund.
Hyundai-owned Boston Dynamics’ Spot on public safety missions

2 weeks ago | kedglobal.com | Sookyung Seo

Spot, a quadruped robot developed by Boston Dynamics Inc., will aid defense and safety agencies in Australia, New Zealand and Indonesia to ensure public safety, expanding its presence across the globe and sectors.