South Korea’s central bank raised its benchmark rate to 3% on Thursday in a second straight hike, as the AI chip boom stokes wages and inflation across the export-driven economy.
Tag: South Korea
Posted inMarkets
Samsung’s Record $80 Billion Return Plan Sends Shares Lower on Ambiguity
Samsung Electronics announced 90–110 trillion won in shareholder returns for 2026, roughly five times its prior record, but shares fell 2.6% as investors had expected up to 150 trillion won.
Posted inMarkets
Samsung and SK Hynix Both Fall Over 7% as Chip Selloff Crosses Into Asia
KOSPI fell 5.5% and Samsung shed 7.3% on Wednesday as the global chip selloff deepened, with US 30-year Treasury yields reaching their highest level since 2007.
Posted inMarkets
SK Hynix Suffers Second Flash Crash on South Korea’s Nextrade in a Week
SK Hynix shares plunged 30% in pre-market trading on Nextrade on August 6 — the second such incident in eight days — as South Korea’s alternative bourse faces calls to tighten its volatility controls.
Posted inWorld
Yangsan Hits 42.5°C, Breaking South Korea’s 122-Year Temperature Record
South Korea’s southeastern city of Yangsan reached 42.5°C on August 2 — the country’s hottest temperature in 122 years of records — as a punishing heatwave spread emergency alerts to more than 20 localities.
Posted inTech
South Korea Closes $950 Billion in AI Deals at San Francisco Summit
South Korean companies struck $950 billion in semiconductor and AI deals with Nvidia, Anthropic and Broadcom at a San Francisco summit hosted by President Lee Jae-myung on July 24.
Posted inEconomy
Bank of Korea Raises Rates for First Time in Three Years
South Korea’s central bank raised its benchmark rate to 2.75% on July 16, ending 13 months of policy inaction as record chip exports push inflation above target and the won tests the 1,500 per dollar level.
Posted inMarkets
SK Hynix targets $29 billion Nasdaq listing to fund AI memory expansion
South Korea’s SK Hynix filed to list ADRs on Nasdaq on 10 July, seeking to raise roughly $29 billion in what would rank among the largest US share offerings on record.
Posted inMarkets
KOSPI tumbles nearly 10% as South Korea’s AI semiconductor rally cracks
South Korea’s KOSPI fell 9.99% on June 23, triggering a circuit breaker absent since the 2020 COVID crash, as SK Hynix and Samsung each lost more than 12% in a single session.
Posted inWorld
South Korean court adds 30 more years to Yoon over North Korea drone provocation
A Seoul court sentenced Yoon Suk Yeol to 30 additional years on June 12, finding he ordered military drones over Pyongyang to fabricate a pretext for his December 2024 martial law declaration.