Samsung Electronics wins W22.8tr order for chips
In a regulatory filing, the South Korean tech giant said it signed a foundry contract set to be completed by Dec. 31, 2033.
The company did not disclose the identity of the client or the specifics of the deal, citing "management confidentiality."
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Korea Herald
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The top diplomats of South Korea and China agreed Monday to work together to make the upcoming Asia-Pacific Economic Cooperation summit a "new turning point" in bilateral relations, as they held their first telephone call, the South Korean Foreign Ministry said. Foreign Minister Cho Hyun and Chinese Foreign Minister Wang Yi expressed this view during the 45-minute phone conversation, reaffirming their commitment to advance the bilateral strategic cooperative partnership in a "steady and mature" manner, the ministry said in a release. "They agreed to work together to ensure that the upcoming APEC summit in Gyeongju serves as a new turning point in bilateral ties and to deliver tangible outcomes in practical cooperation that can be felt by the peoples of both countries," it said. They also agreed to maintain the positive momentum in bilateral ties through high-level exchanges. The APEC summit is set to take place in the southeastern South Korean city from Oct. 31 to Nov. 1. Chinese President Xi Jinping is widely expected to attend the multilateral meeting. China is the host for next year's APEC summit. Congratulating Cho on his inauguration, Wang expressed a willingness to maintain a close working relationship with him, according to the ministry. Cho, in turn, said he hopes to closely work with Wang to further develop the Seoul-Beijing ties. Cho took office last Monday. He also extended an invitation for Wang to visit South Korea, and Wang responded that he would visit at a mutually convenient time, according to the ministry. (Yonhap)
Korea Herald
8 minutes ago
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FM Cho reaffirms S. Korea's commitment to closer ties in call with Indian counterpart
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Korea Herald
2 hours ago
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Seoul shares up for 4th day on Samsung gains amid US tariff caution
South Korean stocks finished higher Monday, led by strong gains by tech giant Samsung Electronics amid caution over last-minute negotiations with the United States on its aggressive tariff scheme. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 13.47 points, or 0.42 percent, to close at 3,209.52, extending its winning streak to a fourth day. Trade volume was heavy at 500.22 million shares worth 13.83 trillion won ($10.01 billion), with losers beating winners 722 to 179. Institutional and foreign investors bought a net 452.01 billion won and 480.78 billion won worth of stocks, respectively, while individuals net sold 998 billion won worth of shares. The index opened higher but moved within a narrow range throughout the session before ending with modest gains, as investors remained cautious ahead of key developments in negotiations between Seoul and Washington over the Donald Trump administration's tariff measures, with just four days remaining until the Aug. 1 deadline. Industry Minister Kim Jung-kwan has departed for Europe to continue trade negotiations with the U.S., while Finance Minister Koo Yun-cheol is scheduled to meet with Treasury Secretary Scott Bessent on Thursday. "With corporate second-quarter earnings being released, now is the time to heighten caution over increased short-term volatility," said Lee Kyung-min, a researcher at Daishin Securities. Market bellwether Samsung Electronics spiked 6.83 percent to 70,400 won on news that it has signed a contract worth over US$16.5 billion won to supply semiconductors to U.S. tech giant Tesla. But chip giant SK hynix lost 1.5 percent to 262,000 won. Major battery maker LG Energy Solution surged 4.68 percent to 380,500 won, and top chemical firm LG Chemical advanced 1.95 percent to 313,000 won. Defense giant Hanwha Aerospace climbed 0.85 percent to 953,000 won. Carmakers gathered ground. Top carmaker Hyundai Motor increased 0.92 percent to 218,500 won, and its sister Kia Motors gained 1.34 percent to 105,500 won. But top financial firm KB Financial dipped 6.99 percent to 110,500 won, and nuclear power plant manufacturer Doosan Enerbility shed 3.64 percent to 63,500 won. Shipbuilders gathered ground on hopes for stronger cooperation with the U.S. Leading shipbuilder HD Hyundai Heavy soared 4.5 percent to 464,500 won, and its rival Hanwha Ocean jumped 8.44 percent to 97,600 won. The local currency was quoted at 1,382 won against the greenback at 3:30 p.m., down 4.1 won from the previous session. (Yonhap)
