South Korea

As part of a broader tax reform bill, Republicans in the U.S. House of Representatives proposed Monday to kill the electric vehicle credit and repeal fuel efficiency regulations designed to encourage automakers to build more zero-emission cars. The proposal is scheduled for a House Ways and Means Committee Hearing on Tuesday. It would repeal the $7,500 tax credit for new vehicles and the $4,000 credit for used vehicles on December 31, but it would keep the credit for new cars for an extra year for automakers who haven't sold 200,000 electric cars. Genevieve Cullen - the president of the Electric...

Two people who are familiar with the process said that LNG Canada had completed cooling down its Kitimat liquefied gas plant and was preparing to produce the first LNG at the plant in June. To ensure the production of super-cooled gas, cooling an LNG plant is essential. It's also a crucial step before starting operations. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). LNG Canada confirmed on Saturday that the Maran Gas Roxana left the plant after delivering a shipment to the plant on April...

SK Innovation Co Ltd, the owner of South Korea’s largest oil refiner SK Energy swung into an unexpected operating loss during the first quarter due to lower oil prices. However, the company forecasts a recovery in the refining margins for the second quarter. The company reported an operating loss for the third quarter ended March 31 of 45 billion won (32 million dollars), a sharp drop from the 625 billion won profits it recorded a year earlier. According to LSEG SmartEstimate, analysts had estimated a profit of 393 billion won. "Operating Income declined despite improving earnings from the Battery Business,...

The manufacturers and developers of U.S. Energy Storage Projects said that their industry would invest $100 billion in this decade to create an entirely domestic battery supply chain. However, they warned that the goal is contingent upon Washington's support. The American Clean Power Association is a trade association that represents energy storage firms. Its members aim to reduce the sector's dependence on China, who currently supplies most of the U.S. battery supply. The storage projects are therefore likely to be severely affected by the decision of President Donald Trump to impose 145% tariffs on Chinese imports. The industry wants a...

S-Oil, a South Korean company majority-owned by Saudi Aramco and with refining and chemical units, suffered losses in the first-quarter. It expects that margins will be affected by U.S. trade negotiations and volatility on the market during the second-quarter. S-Oil announced a loss of 14.5 billion won (14.93 millions) for the first quarter of 2025 compared to a profit of 454.1 million won a year ago, in a Monday statement. The first-quarter revenue of the company fell by 3.4% on an annual basis to 8.99 trillion won. S-Oil reported that its refining division had an operating loss in the quarter...

Mao Saigo, a Japanese player, won the Chevron Championship after beating four other players in a sudden-death playoff. The 23-year old won his first major after being tied with Ryu Haeran of South Korea after three rounds. However, a few late mistakes led to a score of two over par on Sunday. She sank a birdie on the par five 18th hole to keep herself in it. She joined China's Yin Ruoning and South Korean Kim Hyo Joo as well as Thailand's Ariya Jutanugarn, and Lindy Duncan from the United States, in the playoff. In a televised statement, she said:...

The oil prices dropped by about 1% after the nuclear talks between Iran and the United States progressed. This eased concerns that this dispute would reduce the supply of the Middle Eastern major producer. Brent crude futures fell 70 cents or 1.03% to $67.26 per barrel at 0030 GMT, after closing 3.2% higher on Thursday. U.S. West Texas Intermediate Crude was trading at $64, down 68 cents or 1.05% after closing up 3.54% the previous session. Last week, Thursday was the final settlement day due to the Good Friday holiday. Iran's Foreign Minister said that the U.S. had agreed to...

New Zealand and Australia announced on Thursday that they were each working with other countries on a potential joint response to bolster free trade in the face of a barrage U.S. Tariffs. Christopher Luxon, the New Zealand Prime Minister, said that he spoke with leaders from Singapore, Vietnam, and Malaysia as well as with the head of the executive of the European Union about international trade. Luxon, in a speech he gave on Thursday, floated the idea that members of the European Union and Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP) could work together. The global trade system has been...

A spokesperson for the U.S. Department of Energy said that South Korea was a "sensitive country" after its president briefly declared martial law, and amid reports of Seoul possibly developing nuclear weapons. In a written answer to questions, the DOE confirmed that the administration of former-President Joe Biden placed South Korea in the bottom tier of the Sensitive & Other Designated Countries List shortly before Biden's departure. The department didn't explain why the Asian country was added to this list, nor did it indicate that Donald Trump would be inclined to reverse this measure. Seoul's spokesperson stated that there are...

Air Liquide, a French company, said that after Donald Trump frozen funding for clean energy projects in the U.S. Department of Energy's (DoE), only two of six hydrogen projects it had been awarded by the DoE might be implemented. Air Liquide has been selected as a partner in 2023 for six clean hydrogen hubs that are planned by the DoE. The DoE was going to allocate $7 billion under the bipartisan Infrastructure Law signed by the former President Joe Biden. However, Trump has placed holds on tens of billions of dollars in congressionally-approved spending, including those from the bipartisan law...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Elon Musk led a consortium of investors to offer $97,4 billion for the nonprofit OpenAI. This raised the stakes in the battle between him and Sam Altman regarding the company behind ChatGPT. Donald Trump, the President of the United States, announced on Monday 25% tariffs on steel and aluminum imports to the U.S. He also reinstated global duties for allies like Canada, Mexico and South Korea, which were relaxed under the Biden administration. Elliott Investment Management, a...

Taiwan's Powerchip Technology hoped that by entering into a deal in 2015 with the city of Hefei, located in eastern China, to establish a new foundry it would gain better access to the lucrative Chinese market. Nexchip has emerged as one of the biggest competitors in the legacy chip market, after Beijing's call for localisation forced Powerchip into giving up its once lucrative business producing integrated circuits used on Chinese flat panel displays. Nexchip is one of the Chinese foundries that are gaining market share quickly in the $56.3 billion market for so-called mature or legacy node chips, made with...

POSCO Future M is a South Korean manufacturer of chemical and battery materials. On Tuesday, it announced that it would be issuing new shares in order to raise approximately 1.1 trillion won (775 million dollars) for its expansion both at home and abroad. This includes its joint venture with General Motors Canada. The plan states that the company will continue to invest in the future despite "political risk" in Korea and in the United States. It also says that tariffs in the United States and possible cuts in federal subsidies for electric vehicles under the Trump Administration could slow down...

Officials have confirmed that more than a dozen senior business leaders, including CEOs, will visit the White House this Wednesday to highlight U.S. investment. A White House official confirmed a Bloomberg News article that President Donald Trump will promote investments in the United States for his first 100-days in office. These include defense, technology, healthcare, consumer products, and investment funds. Trump has tried to promote new investments in spite of concerns from major U.S. companies about new tariffs. Airline companies, automakers, and retailers are concerned about the impact that tariffs will have on U.S. sales and manufacturing. Some large companies...

In an interview published Friday, U.S. president Donald Trump claimed that tariff negotiations with China were underway, but Beijing denied there were any talks taking place. This is the latest of a series conflicting signals about what progress has been made in de-escalating a trade battle threatening to sap growth globally. Trump told TIME that there were talks and that Chinese President Xi Jinping called him. He repeated this assertion to reporters on his way out of the White House to Rome, where he would attend the funeral for Pope Francis. China responded in a statement from its foreign ministry...

China exempted certain U.S. exports from its steep duties in a Friday sign that the trade conflict between the two world's largest economies may be easing. However, Beijing swiftly knocked back U.S. president Donald Trump's claim that negotiations were underway. Business groups claim that China has allowed certain U.S. pharmaceuticals to enter without the 125% duty Beijing imposed on imports of the U.S. earlier this month as a response to Trump’s 145% tariffs. A list of 131 categories of products that are allegedly being considered for exemptions is also circulating in some business and trade groups. The list includes chemicals,...

In a Thursday statement, the U.S. Trade Rep Jamieson Greer said that he and his Vietnamese counterpart had a productive meeting in which they both agreed to make rapid progress in reciprocal trade. Greer and Vietnam’s Minister of Industry and Trade Nguyen Han Dien spoke Wednesday and "instructed [their] teams to engage in technical discussion in the coming days in order to discuss efforts on expanding market access and addressing unfair trade practices," according to the statement. The statement stated that "Both sides agreed it is important to make rapid progress toward reciprocal and equal trade between the United States...

A government source who is directly familiar with the situation said on Thursday that India expects steel imports to slow down after temporary tariffs are imposed this week. India, the second largest producer of crude iron and steel in the world, announced a temporary duty or safeguard provision of 12% on certain steel imports. This duty will last for 200 days. India's imports for finished steel products increased for the second consecutive year in fiscal 2025, with shipments reaching an all-time high. This trend has continued as shipments from China and South Korea have also been increasing. The government source...

General Motors confirmed on Wednesday that it is increasing the production of transmissions in its Toledo, Ohio plant, and shifting away from manufacturing EV drive units to parts for gasoline cars. Transmission plant is used to support the production of light trucks in Fort Wayne, Indiana. First reported that GM was going to increase production in the Indiana assembly plant after U.S. president Donald Trump announced 25% auto import tariffs. A spokesperson from the automaker stated that the shift in production at Toledo was not due to tariffs. General Motors is revising production plans for Toledo Propulsion in order to...

Investors continued to hammer Hyundai Steel's shares in late March after the South Korean company announced a $6 Billion investment in the U.S. The company organized a conference call with 12 investors to calm their nerves about the project, which lacked any detailed funding plans. Hyundai Steel's official apologized for the announcement of the deal while some details were still being reviewed. The deal was part of a $21 Billion U.S. Investment Package that Hyundai Motor Group, its parent company, unveiled on March 24, at the White House. The person who attended the meeting confirmed that he had said: "But...

Hyundai Motor will temporarily stop production of some electric vehicles in South Korea, Yonhap reported on Thursday. The news agency cited unnamed sources. Yonhap reported that the South Korean automaker will stop production on certain lines at its Ulsan facility, where it produces electric vehicles Ioniq 5 & Kona, from April 24-30. Yonhap said that the suspension is due to the fact that EV orders have dropped sharply from major markets in April after the removal of government EV subsides and U.S. Tariffs on imported cars. Hyundai Motor is not available to comment immediately outside of regular business hours. The...

A statement from the trade ministry dated April 1 revealed that Vietnam would impose a temporary antidumping levy up to 37,13 % on certain galvanised products from China and up to 15,67 % for some South Korean products. Statement: The tariffs are effective from 16 April and will be in effect for 120 days. The rate of 37.13% will apply to all Chinese steel producers, including the industry leader Baoshan Iron & Steel. According to a statement, however, Yieh Phui and Boxing Hengrui New Material will be exempted. The statement stated that South Korea's Hyundai Steel would face a tariff...

Hyundai Motor Group and Hyundai Steel, both of South Korea, will invest $5.8 Billion to build a steel mill in Louisiana in the U.S. with a capacity of 2.7 Million tonnes per year. The company announced this in a filing with the regulatory authorities on Tuesday. Hyundai Steel shares rose initially by more than 5%, but they reversed their gains and ended 7% lower after U.S. president Donald Trump praised its plan. Hyundai Steel's new U.S. Steel plant is part the Hyundai Motor Group plan to invest $21 Billion in the United States. The South Korean company's Chairman announced the...

A U.S. official revealed that the Hyundai Motor Group of South Korea will announce a $20 Billion investment in the United States on Monday at the White House. CNBC reported the investment, which included a $5 billion plant in Louisiana, would be announced by President Donald Trump and Hyundai Chairman Euisun Chung. Jeff Landry. Trump has threatened to impose tariffs in response on April 2 against countries like South Korea, which have large surpluses of trade with the United States. Hyundai Motor and Hyundai Steel spokespeople were not available to comment immediately. Both the Louisiana Governor's Office and the White...