Seoul, April 29 (IANS) South Korea’s antitrust regulator on Wednesday newly designated Kim Bom, founder of US-listed e-commerce giant Coupang, as the company’s de facto controlling entity, placing him under stricter regulatory oversight.Kim, a U.S. citizen who also serves as chairman of the board, was designated as the “same person” of the group, a legal term referring to the individual who effectively controls a conglomerate, the Fair Trade Commission (FTC) said.The FTC’s decision comes as Coup…
Latest Samsung Electronics News & Updates
Seoul, April 27 (IANS) The total market capitalisation of companies listed on the local stock market surpassed 6,000 trillion won ($4.08 trillion) for the first time on Monday, boosted by anticipation for the semiconductor sector, industry data showed.The combined market capitalisation of companies listed on the country’s three stock bourses stood at 6,047.9 trillion won as of early Monday morning, according to the data from the Korea Exchange (KRX), South Korea’s main bourse operator, reports Y…
Seoul, April 23 (IANS) South Korean stocks rose on Thursday, led by gains in large-cap technology shares, as investors focused on corporate earnings following the United States’ indefinite extension of its ceasefire in the conflict with Iran.The benchmark Korea Composite Stock Price Index (KOSPI) gained 48.04 points, or 0.75 per cent, to 6,465.97 as of 11:20 am (local time), reports Yonhap news agency.The index opened 1.1 percent higher, tracking overnight gains on Wall Street, and briefly surpa…
New Delhi, April 20 (IANS) Lee Jae-yong, Executive Chairman of Samsung Electronics, on Monday took a selfie with Prime Minister Narendra Modi and South Korean President Lee Jae Myung, during a state luncheon at the company’s Noida facility.The gesture highlighted Samsung’s local manufacturing capabilities in India and came after the bilateral summit between the two leaders.Lee and Modi also interacted with business leaders from both countries, according to a statement from the South Korean p…
Seoul, April 20 (IANS) Seoul stocks were trading sharply higher late on Monday morning, despite concerns over renewed tensions between the United States and Iran in the Middle East.The benchmark Korea Composite Stock Price Index (KOSPI) gained 81.79 points, or 1.32 percent, to 6,273.71 as of 11:20 am (local time), reports Yonhap news agency.U.S. President Donald Trump has said the U.S. has seized an Iranian-flagged commercial vessel in the Gulf, as part of its naval blockade. Iran called such ac…
Seoul, April 16 (IANS) Samsung Electronics has filed for a court injunction in connection with potential collective action by its labour union that could disrupt production, industry sources said on Thursday.According to the sources, the company made the legal request with the Suwon District Court earlier in the day in an apparent move to prevent the union from occupying key facilities, such as semiconductor production lines, in order to avoid significant operational losses, reports Yonhap news …
Seoul, April 16 (IANS) South Korean stocks traded sharply higher late on Thursday morning amid hopes for a second round of peace talks between Washington and Tehran.The benchmark Korea Composite Stock Price Index (KOSPI) added 132.06 points, or 2.17 percent, to 6,223.45 as of 11:20 a.m (local time), reports Yonhap news agency.U.S. President Donald Trump said in an interview with Fox News released Wednesday (U.S. time) that the U.S.-Israeli war against Iran is “very close to over,” while the Whit…
Seoul, April 15 (IANS) Seoul shares soared more than 2 per cent on Wednesday to close above 6,000 points for the first time after the outbreak of the US-Iran conflict in late February. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 123.64 points, or 2.07 percent, to close at 6,091.39, after hitting an intraday high of 6,183.21, reports Yonhao news agency.Trading volume was heavy at 915.03 billion shares worth 31.37 trillion won (US$21.3 bil…
Seoul, April 14 (IANS) South Korean stocks traded sharply higher on Tuesday on revived hopes for US-Iran peace talks, briefly topping the 6,000-point mark for the first time since the outbreak of the U.S.-Iran conflict.The benchmark Korea Composite Stock Price Index (KOSPI) added 189.03 points, or 3.25 percent, to 5,997.65 as of 11:20 a.m (local time).The index rose to 6,000.18 around 10:12 a.m. and hovered near the 6,000 level, reports Yonhap news agency.It marked the first intraday move above …
Seoul, April 13 (IANS) South Korean stocks traded lower on Monday as investor concerns grew over a prolonged conflict in the Middle East after the U.S.-Iran peace talks failed to make progress, while U.S. President Donald Trump threatened a blockade of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) fell 68.15 points, or 1.16 percent, to 5,790.72 as of 11:20 am (local time), reports Yonhap news agency.President Trump announced a blockade of Iranian ports following ma…