Daily Archive: October 7, 2021

S. Korean economy to grow 2.8 pct in 2022: think tank

SEOUL– The South Korean economy is likely to lose its upward momentum and grow less than 3 percent in 2020 amid slowing exports and waning pandemic-related stimulus, a private think tank said Thursday.The Hana Institute of Finance predicted Asia’s fou…

S. Korean economy faces growing downside risks: KDI

SEOUL– The South Korean economy is facing increasing downside risks as the uptick in COVID-19 cases is delaying the recovery of private spending amid heightened uncertainty about the global economic recovery, a state-run think tank said Thursday.Asia’…

S. Korea sells US$1.3 bln of FX bonds at 2nd-lowest rates

SEOUL– South Korea said Thursday it has sold about US$1.3 billion worth of foreign exchange stabilization bonds at the second-lowest ever rates amid solid demand.The government sold U.S. dollar-denominated bonds worth $500 million with a maturity of 1…

Daeyu to raise 38 bln won via stock sale

SEOUL– Daeyu Co.on Thursday announced that it will sell stocks to raise 38 billion won(US$31.9 million). The proceeds from the stock offering will be used primarily to finance its facilities.According to a regulatory filing, the company will issue 8 m…

Hyundai Mobis to invest 1.3 tln won in fuel-cell plants

SEOUL– Hyundai Mobis Co. said Thursday it will invest 1.3 trillion won (US$1.09 billion) to expand its fuel cell production facilities in line with its parent group’s future mobility plans.South Korea’s biggest auto parts maker will build two addition…

Samsung unveils programs for its online developer conference

SEOUL– Samsung Electronics Co. on Thursday unveiled programs of its technology conference later this month as the South Korean tech giant prepares to introduce its latest solutions to boost consumer experience.Samsung Developer Conference (SDC) will t…

S. Korea launches advanced submarine rescue ship

SEOUL– South Korea launched a new 5,600-ton-class submarine rescue vessel Thursday capable of conducting rescue operations in the deep sea regardless of weather conditions, the Navy said.A launch ceremony for the vessel, named Ganghwado, took place at…

Seoul stocks sharply up late Thur. morning on bargain hunting

SEOUL– South Korean stocks traded sharply higher late Thursday morning as bargain hunters sought oversold stocks on expectations of a rebound.The benchmark Korea Composite Stock Price Index (KOSPI) rose 48.92 points, or 1.68 percent, to 2,957.23 point…