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South Korea ruling party sweeps most seats in local elections but faces losing Seoul

South Korea ruling party sweeps most seats in local elections but faces losing Seoul The loss of Seoul would deliver a symbolic blow to South Korean President Lee Jae Myung despite his party’s broader gains. SEOUL: South Korean President Lee Jae Myung's ruling Democratic Party swept the majority of seats in local elections, early vote counts showed on Thursday (Jun 4), but looked set to lose the crucial Seoul mayoralty amid a controversy over a shortage of ballot papers. Opposition People...

Channel News Asia 6d ago

Nvidia announces deals with South Korea's SK Hynix, Naver and Doosan for AI data centres

Nvidia announces deals with South Korea's SK Hynix, Naver and Doosan for AI data centres (Corrects key words for media clients to NVIDIA-SOUTHKOREA/ from NVIDIA-SOUTH KOREA/) By Heekyong Yang SEOUL, June 8 : Nvidia on Monday announced deals with South Korea's SK Hynix, Naver and Doosan Group to build AI data centres and use the U.S. chip firm's technology, as it looks to continue driving the AI boom. The agreements come during a high-profile trip by Nvidia CEO Jensen Huang to South Korea...

Channel News Asia 2d ago

South Korea Unveils Measures to Stem Won Slide, Curb Speculation

A worker moves bundles of South Korean 10,000 won banknotes at the Bank of Korea (BOK) headquarters ahead of the Lunar New Year in Seoul, South Korea, on Wednesday, Feb. 11, 2026. South Korea is likely to roll out around 10 trillion won ($6.8 billion) in fresh fiscal stimulus as early as March to address uneven economic growth, with support expected for sectors including culture and the arts, Citigroup said in a January report.

Bloomberg Markets 3d ago

South Korea’s booming stock market mints a generation of novice investors

South Korea’s booming stock market mints a generation of novice investors South Korean stocks are soaring, drawing first-time investors in a nation where property has long reigned supreme. Seoul, South Korea – When Kim Ha-young, a Seoul office worker in her 30s, came into a little unexpected cash last year after paying the deposit on her rented apartment, she did something she had never done before. Recommended Stories list of 4 items- list 1 of 4Israel kills 8 in southern Lebanon after...

Al Jazeera 17h ago

South Korea's LG Group to adopt 10,000 Nvidia GPUs, Maeil says

South Korea's LG Group to adopt 10,000 Nvidia GPUs, Maeil says SEOUL, June 4 : South Korea's LG Group is adopting 10,000 GPUs from Nvidia, South Korea's Maeil Business Newspaper reported on Thursday citing an unnamed industry source. The GPUs are expected to be used to train AI by LG's AI research centre and a humanoid robot being developed by LG Electronics, Maeil said. A spokesperson for LG did not have an immediate comment.

Channel News Asia 6d ago

South Korea finance minister vows response to financial market volatility

South Korea finance minister vows response to financial market volatility SEOUL, June 4 : South Korea's finance minister said on Thursday authorities would closely monitor risks around domestic stock, bond and foreign exchange markets and take measures to curb excessive volatility. "Minister Koo Yun-cheol emphasised he will immediately take necessary measures to respond to excessive herd-like behaviour (in the foreign exchange market)," the ministry said in a statement after a meeting of top...

Channel News Asia 6d ago

South Korea May inflation +3.1% y/y, higher than expected

South Korea May inflation quickens to two-year high, exceeds forecasts SEOUL, June 2 : South Korea's consumer inflation quickened in May to a more than two-year high, exceeding market expectations on high oil prices triggered by the Middle East conflict, supporting the case for monetary tightening in the coming months. The consumer price index (CPI) rose 3.1 per cent from a year earlier, the biggest jump since March 2024, after rising 2.6 per cent in April, according to the Ministry of Data...

Channel News Asia 8d ago

US general’s ‘dagger’ remark tests South Korea’s China balancing act

US general’s ‘dagger’ remark tests South Korea’s China balancing act A top commander’s blunt remark spotlights a fundamental disagreement over the true purpose of the 28,500 US troops based in South Korea South Korea’s presidential office said on Saturday that it was “aware” of Brunson’s remarks and that close consultations between the two allies were ongoing. Behind the scenes, however, Seoul reportedly conveyed its greater regret through other channels, including National Security Adviser...

South China Morning Post 8d ago

South Korea, China agree first expansion in flight rights in seven years

South Korea, China agree first expansion in flight rights in seven years SEOUL: South Korea and China have agreed to expand weekly flight rights between the countries for the first time in seven years, Seoul's transport ministry said on Thursday (Jun 4), in another sign of warming ties between the Asian neighbours. The agreement, reached at bilateral aviation talks held in Seoul on May 27 to 28, will increase passenger flight rights by 56 weekly flights to 664 from 608, and cargo rights by...

Channel News Asia 6d ago

South Korea to seek priority supply of Nvidia Vera Rubin GPUs, science minister says

South Korea to seek priority supply of Nvidia Vera Rubin GPUs, science minister says SEOUL, June 8 : South Korea will ask for priority supply of Nvidia's next-generation Vera Rubin graphics processing units, as deliveries are expected to be delayed, Science and ICT Minister Bae Kyung-hoon said on Monday. Bae said a government notice for South Korea's GPU project had been issued earlier in the day, adding that a supply of Nvidia's B300 chips was expected to arrive on time. "B300 supply looks...

Channel News Asia 2d ago