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AstraZeneca, local firm fined over shady deal

By Kang Yoon-seungSEJONG, Oct. 13 (Yonhap) -- South Korea's antitrust watchdog said Thursday it has decided to slap a combined 2.6 billion-won (US$1.82 million) fine on global pharmaceutical firm AstraZeneca and local generic maker Alvogen on cha
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DSME inks tie-up with U.S. firm on liquid hydrogen carrier

SEOUL, Oct. 13 (Yonhap) -- South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a business tie-up agreement with a U.S. energy company on the development of technologies for a large liquid hydrogen car
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S. Korea's fiscal deficit widens 15.1 tln won through August

SEJONG, Oct. 13 (Yonhap) -- South Korea's fiscal deficit increased 15.1 trillion won (US$10.5 billion) in the first eight months of 2022 from a year earlier due to spending on vulnerable groups amid the prolonged pandemic, data showed Thursday.Th
BOK's big-step rate hike coincides with gov't view: finance minister

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By Kang Yoon-seungWASHINGTON/SEJONG, Oct. 13 (Yonhap) -- South Korea's finance minister said Thursday the central bank's decision to take another big-step rate hike was necessary to cope with inflation and the strong U.S. dollar.On the previo
SsangYong Motor to raise 205.5 bln won via stock offering

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SEOUL, Oct. 13 (Yonhap) -- SsangYong Motor Co. on Thursday announced that it will sell stock to raise 205.5 billion won The proceeds from the stock sale will be used mainly to finance its operations.According to a regulatory filing, the company will
(EDITORIAL from Korea JoongAng Daily on Oct. 13)

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Big rate increase could bring big troubleThe Bank of Korea on Wednesday took a big step by raising the benchmark rate to 3 percent from the current 2.5 percent. The lifting of the key rate to the 3 percent range takes rates back to October 2012 level
(EDITORIAL from Korea Times on Oct. 13)

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'Worst is yet to come'IMF downgrades 2023 economic outlookThe International Monetary Fund (IMF) said Tuesday the global economy will slow further to register 2.7 percent growth next year, 0.2 point lower than a previous forecast made in July.
(EDITORIAL from Korea Herald on Oct. 13)

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Going against innovationLawmakers propose a bill likely to stunt property technology servicesThese days it is common practice to use online property platforms to get easy access to information on a vast amount of available apartments, houses and othe
Top headlines in major S. Korean newspapers

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SEOUL, Oct. 13 (Yonhap) -- The following are the top in major South Korean newspapers on Oct. 13.Korean-language dailies-- BOK prioritizes responses to prices, exchange rate; benchmark interest rate rises to 3 pct for first time in 10 years (Kyunghy
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(2nd LD) SK hynix exempted from U.S. export controls for 1 year

(ATTN: ADDS foreign ministry's comment in last 2 paras)SEOUL, Oct. 12 (Yonhap) -- SK hynix Inc., the world's second-largest memory chip maker, said Wednesday it has been temporarily exempted from the United States' export control measures
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Scandal-ridden bio firm Sillajen to resume trading after 2.5-yr suspension

SEOUL, Oct. 12 (Yonhap) -- South Korea's bourse operator on Wednesday decided to allow scandal-ridden bio firm Sillajen Inc. to resume its stock trading after a 2 1/2-year suspension.Trading of shares in Sillajen will resume on the tech-laden KOS
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(LEAD) Hyundai to invest 18 tln won in mobility software development

(ATTN: CHANGES photo)SEOUL, Oct. 12 (Yonhap) -- Hyundai Motor Group said Wednesday it will invest 18 trillion won (US$13 billion) to apply an advanced software program to all of its vehicles and offer its customers regular software updating services.
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Hyundai to invest 18 tln won in mobility software development

SEOUL, Oct. 12 (Yonhap) -- Hyundai Motor Group said Wednesday it will invest 18 trillion won (US$13 billion) to apply an advanced software program to all of its vehicles and offer its customers regular software updating services. The South Korean car
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S. Korea seeks deeper ties with Australia for key minerals amid U.S. law

SEJONG, Oct. 12 (Yonhap) -- South Korea on Wednesday discussed ways to boost cooperation with Australia on supply chains of such key minerals as lithium and nickel in a move to better respond to the U.S.' Inflation Reduction Act (IRA), the indust
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(LEAD) SK hynix exempted from U.S. export controls for 1 year

(ATTN: ADDS more details in paras 5-7, 9-10)SEOUL, Oct. 12 (Yonhap) -- SK hynix Inc., the world's second-largest memory chip maker, said Wednesday it has been temporarily exempted from the United States' export control measures and is allowed
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SK hynix exempted from U.S. export controls for 1 year

SEOUL, Oct. 12 (Yonhap) -- SK hynix Inc., the world's second-largest memory chip maker, said Wednesday it has been temporarily exempted from the United States' export control measures and is allowed to continue normal production activities in
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(3rd LD) BOK delivers another big-step rate hike, says more increases warranted

(ATTN: TRIMS paras 2-4; ADDS BOK chief's remarks, more info throughout)By Koh Byung-joonSEOUL, Oct. 12 (Yonhap) -- South Korea's central bank delivered another big-step rate hike Wednesday as it is striving to bring inflation under control de
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(Yonhap Feature) With tech prowess, SK Nexilis sets eyes on global expansion in battery foil making

By Kim Seung-yeon JEONGEUP, South Korea, Oct. 12 (Yonhap) -- Thin layers of orange-red copper films were instantly coated on the surfaces of large titanium drums rolling slowly in electrically charged water tanks in the fifth factory of SK Nexilis Co
(URGENT) Another rate hike likely in November, size to be determined after seeing Fed's move, other factors: BOK chief

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(LEAD) Prosecution raids 7 steelmakers for price-fixing probe

(ATTN: UPDATES with more info in paras 2, 4)By Kim Han-jooSEOUL, Oct. 12 (Yonhap) -- Prosecutors raided the offices of seven major steelmakers Wednesday as part of their ongoing investigation into fixing bidding prices years ago.The Seoul Central Dis