Seoul, May 19 (IANS) The Bank of Korea (BOK) has estimated that a general strike at Samsung Electronics Co. could cut 0.5 percentage point off South Korea’s economic growth this year, officials said on Tuesday.The central bank recently compiled a closed-door report on the matter and submitted it to the finance ministry, according to the officials, reports Yonhap news agency.The report estimated losses from the potential strike at around 30 trillion won (US$20 billion), noting it could take up to…
Latest Samsung Electronics Co. News & Updates
Seoul, May 18 (IANS) South Korean President Lee Jae Myung said on Monday that companies’ management rights should be respected as much as labor rights.Lee posted the message on his X account as Samsung Electronics Co. and its unionized workers began negotiations for a last-minute breakthrough ahead of the union’s planned 18-day strike starting Thursday.”In South Korea, which has adopted the basic orders of democracy and free market economy, labor should be respected as much as companies, and cor…
Seoul, April 30 (IANS) South Korean President Lee Jae Myung on Thursday warned that excessive labour-related demands by unionized workers could end up doing more harm than good to the unions and other fellow workers, urging a more responsible approach from unions when dealing with labour issues. “While companies should treat workers as valuable partners in corporate management, workers and labour unions must also have a sense of responsibility,” Lee said during a meeting with senior aides at Che…
Seoul, April 21 (IANS) Around two months after an extreme rout caused by the Middle East crisis, South Korea’s stock market showed a dramatic return on Tuesday by setting a new record high amid hopes for the US-Iran peace talks and the revival of a tech rally.The benchmark KOSPI closed 2.72 percent higher at 6,388.47 points. The previous high was recorded on Feb. 26, when the benchmark index closed at 6,307.27, reports Yonhap news agency.Market capitalisation of the KOSPI-listed firms also swell…
Seoul, April 19 (IANS) The world is experiencing two different wars at the moment — the Middle East and the artificial intelligence (AI) war — Seoul’s industry minister has said.The Middle East war may seem like a more imminent threat as it is being directly witnessed, but winning the AI war is much more important for South Korea as it may very well determine the future of the country, Kim Jung-kwan, minister of trade, industry and resources, said in a recent exclusive interview with Yonhap Ne…
Seoul, March 29 (IANS) The market capitalisation of defence stocks rose while that of auto and shipbuilding shares fell on the benchmark Korea Composite Stock Price Index (KOSPI) about a month after U.S.-Israeli air strikes on Iran, bourse data showed on Sunday.According to data by the Korea Exchange (KRX), Samsung Electronics Co. retained the top spot in market capitalization, with 1,063.8 trillion won (US$705 billion) as of Friday, followed by SK hynix Inc. with 657.1 trillion won, reports Yon…
Seoul, March 9 (IANS) South Korean companies are seeking responsive measures to cope with soaring international oil prices as turmoil in the Middle East continues, industry sources said on Monday, while the government called for efforts to stabilise domestic fuel prices.Major companies here, including Samsung Electronics Co., SK Group, Hyundai Motor and Hanwha Group, have held emergency meetings over the past few days to monitor the volatility in the global energy market and come up with ways to…
Seoul, March 2 (IANS) The average daily trading value on South Korea’s main stock market reached a record high of over 30 trillion won ($20.7 billion) in February, driven by a rally in semiconductor shares.The benchmark Korea Composite Stock Price Index (KOSPI) rose above the 6,000-point level on Wednesday, less than a month after surpassing the 5,000 mark, reports Yonhap news agency.Average daily turnover on the KOSPI market reached 32.23 trillion won last month, up 19 percent from 27.06 trilli…
Seoul, Feb 22 (IANS) Foreign investors have posted a net sale of around 9 trillion won ($6.2 billion) on the main bourse this year through last week, data showed on Sunday.Overseas investors have sold a net 9.1 trillion won worth of shares on the main bourse in 2026 as of Friday, compared with a net sale of 4.6 trillion won for all of 2025, according to the Korea Exchange (KRX).In detail, foreigners sold a net 9.5 trillion won worth of shares in Samsung Electronics Co., with the stock soaring 59…
Seoul, Feb 14 (IANS) Exports by South Korea’s 10 largest companies accounted for nearly 40 per cent of all outbound shipments last year, reaching a record high, largely driven by strong semiconductor sales, government data showed on Saturday.In 2025, outbound shipments by the top 10 exporters accounted for 39 per cent of the country’s total exports, up 2.4 percentage points from a year earlier, according to the data by the Ministry of Data and Statistics, reports Yonhap news agency.”The concentr…