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S. Korea to preemptively deal with short-term foreign debt, capital flows

SEOUL, Aug. 19 (Yonhap) -- South Korea said Friday it plans to preemptively tackle a rise in the short-term foreign debt and volatility of cross-border capital flows as heightened external economic uncertainty could pose risks to its external soundne
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Major S. Korean firms feel pinch of rising material costs

SEOUL, Aug. 19 (Yonhap) -- Major South Korean companies have seen their cost burdens rise sharply in 2022 from a year earlier on surging raw material prices and wage increases, data showed Friday.Their rising cost burdens are widely feared to undercu
Top headlines in major S. Korean newspapers

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SEOUL, Aug. 19 (Yonhap) -- The following are the top in major South Korean newspapers on Aug. 19.Korean-language dailies-- Yoon set to reshuffle presidential office, but shake-up is not sweeping (Kyunghyang Shinmun)-- Post of policy presidential aid
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S. Korea conveys concerns to U.S. over new EV tax credit law: official

SEOUL, Aug. 18 (Yonhap) -- South Korea has conveyed its concerns over a new U.S. law that provides tax incentives for electric vehicles manufactured in North America only, a foreign ministry official said Thursday."As revisions to the electric
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(LEAD) Hyundai Mobis to set up 2 manufacturing-focused units

(ATTN: UPDATES with details in 3rd para) SEOUL, Aug. 18 (Yonhap) -- Hyundai Mobis Co., South Korea's biggest auto parts maker, said Thursday it will set up two wholly-owned manufacturing-centered units to preemptively respond to a burgeoning futu
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(profile) Law professor named to lead antitrust regulator

SEOUL, Aug. 18 (Yonhap) -- Han Ki-jeong, the nominee for South Korea's new antitrust chief, is an expert well versed in insurance and commercial law who developed administrative expertise in various government posts.Born in Seoul, Han, 58, earned
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Hyundai Mobis to set up 2 manufacturing-focused units

SEOUL, Aug. 18 (Yonhap) -- Hyundai Mobis Co., South Korea's biggest auto parts maker, said Thursday it will set up two wholly-owned manufacturing-centered units to preemptively respond to a burgeoning future mobility market.Hyundai Mobis will int
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S. Korea eyes stricter rule to improve fiscal health

SEOUL, Aug. 18 (Yonhap) -- South Korea aims to draw up a stricter fiscal rule that would mandate a sharp reduction of the deficit if the national debt exceeds 60 percent of gross domestic product (GDP), the finance minister said Thursday.The move is
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S. Korea launches committee to support nuclear exports

SEOUL, Aug. 18 (Yonhap) -- South Korea on Thursday launched a committee to help local companies win contracts to build nuclear power plants overseas amid renewed interest in nuclear power in Europe due to energy shortages.The move came as the governm
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Listed firms' H1 net slightly up amid rising inflation

By Chung Joo-wonSEOUL, Aug. 18 (Yonhap) -- South Korean listed firms' net profit edged up 0.67 percent in the first half this year from a year ago amid the fast-rising inflation, the bourse operator's data showed Thursday.The consolidated net
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(LEAD) Household income grows at fastest clip in Q2; consumption propensity at record low

(ATTN: RECASTS with more details throughout)SEOUL, Aug. 18 (Yonhap) -- Household income rose at the fastest pace on record in the second quarter due largely to pandemic-related cash handouts, but households' propensity to consume hit a record low
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Banks' H1 net down 9.9 pct on decreased non-interest income

SEOUL, Aug. 18 (Yonhap) -- South Korean banks saw their net profit decline 9.9 percent on-year in the first half as their non-interest income shrank, data showed Thursday. Their combined net income came to 9.9 trillion won (US$7.5 billion) in the Jan
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FIU requests probe into 16 foreign digital asset exchange operators for unreported biz activities

SEOUL, Aug. 18 (Yonhap) -- South Korea's financial watchdog said Thursday it has asked law enforcement authorities to investigate 16 foreign digital asset exchange operators for their unreported business activities.Those operators subject to inve
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Household income grows at fastest clip in Q2 on pandemic cash handouts

SEOUL, Aug. 18 (Yonhap) -- Household income rose at the fastest pace on record in the second quarter due largely to continued job growth and state relief funds for pandemic-hit merchants, data showed Thursday.The average household earned 4.83 million
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S. Korea's external debt hits all-time high in Q2 amid heightened market, economic uncertainty

SEOUL, Aug. 18 (Yonhap) -- South Korea's external debt hit an all-time high in the second quarter of this year, driven by an increase in short-term liabilities amid growing financial market volatility and economic uncertainty, central bank data s
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AMCHAM delegation discusses economic partnership, IPEF with Biden officials, lawmakers

SEOUL, Aug. 18 (Yonhap) -- An American Chamber of Commerce in Korea (AMCHAM) delegation has discussed economic security and partnerships, including the new U.S.-led Indo-Pacific Economic Framework (IPEF), with U.S. government officials and lawmakers
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S. Korea's fiscal deficit widens 22 tln won in H1

SEOUL, Aug. 18 (Yonhap) -- South Korea's fiscal deficit increased 22.2 trillion won (US$16.9 billion) in the first six months of this year from a year ago as the government revved up spending to tackle the fallout of the pandemic, data showed Thu
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SK takes over U.S. energy solutions company for $150 mln

SEOUL, Aug. 18 (Yonhap) -- SK Group, South Korea's energy-to-telecom giant, said Thursday it is buying a controlling stake in a U.S. energy solutions company for US$150 million to make further inroads into digital power distribution and electric
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(2nd LD) Ex-Kumho Asiana chief gets 10-yr prison term for unfair deals, embezzlement

(ATTN: UPDATES with more details in paras 6, 13, minor changes in 7th para)SEOUL, Aug. 17 (Yonhap) -- Park Sam-koo, former chairperson of Kumho Asiana Group, was sentenced to 10 years in prison Wednesday for embezzlement of company funds, breach of t
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(LEAD) Ex-Kumho Asiana chief gets 10-yr prison term for unfair deals, embezzlement

(ATTN: UPDATES with more details in last 4 paras, minor changes in paras 2, 7)SEOUL, Aug. 17 (Yonhap) -- Park Sam-koo, former chairperson of Kumho Asiana Group, was sentenced to 10 years in prison Wednesday for embezzlement of company funds, breach o