South Korea

A take a look at the day ahead in Asian markets. Asian stocks are poised to end the week on a strong footing on Friday, spurred on by another solid rise on Wall Street the day before that puts some crucial standard indexes throughout the continent on track to sign up modest weekly gains. The European Central Bank cut interest rates on Thursday and the Fed is set to begin a pretty considerable reducing cycle next week. Although the former was not a surprise and traders have actually been expecting the latter for a while, they are conducive to a...

Asia's imports of petroleum lifted in August from the twoyear low in July as topimporting heavyweights China, India, South Korea and Japan generated more barrels. Overall imports for August are expected to be 26.74 million barrels per day (bpd), up from July's 24.56 million bpd, according to information compiled by LSEG Oil Research. While a 2.18 million bpd increase appears large, it's worth noting that July's imports were the weakest since the exact same month in 2022, and that the August total is still only the fifth-highest out of the eight months so far in 2024. The healing in August...

South Korea's LG Energy Service (LGES) remains in talks with about 3 Chinese suppliers to produce lowcost electric vehicle batteries for Europe, a. senior executive stated, with competition set to intensify after. the EU slapped additional tariffs on Chinabuilt EVs. LGES' prospective partnerships come as the worldwide. EV market is facing a sharp downturn in demand, and. highlight growing pressure non-Chinese battery companies face from. automakers to lower costs to levels matching cheaper Chinese. rivals. France's Renault stated this month that it would. include lithium iron phosphate (LFP) battery technology in its. plans to mass produce EVs, picking LGES and...

Woodside Energy CEO Meg O'Neill said issues about the success of its Driftwood melted gas (LNG) project are misplaced, as the energy company flagged higher expenses at its Scarborough project throughout second quarter results on Tuesday. A day earlier, Australia's biggest independent energy firm signed a $1.2 billion deal to purchase LNG developer Tellurian and its U.S. Gulf Coast Driftwood job in a relocate to become a worldwide LNG powerhouse. Woodside shares fell 2.1% after the news and experts from Citi and UBS questioned whether the infrastructure-like project could create returns above Woodside's 12% financial investment hurdle. O'Neill stated the...

South Korea's SK Group plans to hold a twoday method conference beginning Friday to go over enhancing its organization to focus on secret areas consisting of expert system, chips and batteries. The group, best understood for its chip company SK Hynix , has become bloated over the previous years and its electrical car battery unit has actually lost billions of dollars. Here is what's known about the predicted restructuring: WHY AND HOW MAY SK SHOT TO RESTRUCTURE ITS SERVICES? South Korea's second-largest conglomerate included 219 business as of May, the most among the country's 88 business groups, according to the...

Indian battery maker Amara Raja Energy and Movement stated on Monday it signed a licensing contract with GotionInoBatBatteries (GIB),. a system of Chinabased Gotion High Tech Co, to. produce lithiumion batteries in India. GIB EnergyX Slovakia, a joint endeavor between Gotion and. Slovakia-based InoBat, will accredit Gotion's lithium iron. phosphate technology for lithium-ion cells to a system of Amara. Raja, the Indian battery maker included. Under the licensing agreement, the Indian business will get. access to cell technology IP, assistance for establishing. Gigafactory facilities, and be integrated into Gotion's global. supply chain network. Gotion, whose biggest shareholder is the German....

A take a look at the day ahead in Asian markets. The last trading week of the very first half of the year gets underway on Monday, with Asia's scorecard looking fairly positive from an equity viewpoint, blended through a currency and bond lens, and more bleak from a Chinese market angle. Chinese stocks will be wanting to stop the rot and halt the current decline that has extended their underperformance against local and global peers this year. Financiers in Japanese assets, meanwhile, are on high FX intervention alert after the yen fell on Friday for a seventh straight day...

A take a look at the day ahead in Asian markets. Japanese inflation goes under the microscope on Friday, with analysis likely to be magnified more than normal provided the yen's. slide towards record lows, rising oil costs and the Bank of. Japan's mindful technique to normalizing monetary policy. Belief throughout the continent on Friday might be clouded by. Thursday's fall in U.S. stocks and bonds and increase in the dollar,. appealing financiers to secure gains - Asian stocks struck a. two-year peak today, and world stocks hit all-time highs. As seems to be the case a growing number of...

Asian spot melted gas (LNG) prices increased to a sixmonth high this week on the back of cooling demand in India, greater projection temperature levels in northeast Asia and suspended production at an Australian gas center. The typical LNG rate for July shipment into north-east Asia was at $12.60 per million British thermal units ( mmBtu), its highest level because Dec. 15, market sources estimated. The August delivery cost was estimated at $12.70/ mmBtu. The strength of demand in Asia has provided some support to rates and differentials, said Lucas Schmitt, research study director on short-term LNG at Wood Mackenzie....

A joint endeavor in between Reliance Industries' Jio Platforms and Luxembourgbased SES to offer gigabit fibre internet has actually won approval from the Indian area regulator to run satellites there, a federal government executive said. The 3 approvals released to Orbit Connect India - which aims to supply satellite-based high-speed internet gain access to - come as companies from Amazon.com to Elon Musk's. Starlink have been vying for the consent to release satellite. interaction services on the planet's most populous country. The authorisations have not been formerly reported. They. were granted in April and June from the Indian National Area....

Oil and gas prospects identified off South Korea's east coast hold great. potential, a creator of the petroleum expedition research study firm. recommending the government stated on Friday. South Korean President Yoon Suk Yeol revealed on Monday the. discovery of the prospects at the site off the coastal city of. Pohang, which he stated could contain as much as 14 billion. barrels of oil and gas, and authorised drilling to prove up. resources. The potential customers recognized show great potential ... for. hydrocarbon, stated ACT GEO co-founder and consultant Vitor Abreu,. whose company was contracted by the Korea National Oil...

The following are the leading stories in the Wall Street Journal. has not verified these stories and does not attest their accuracy. - A female who declares she was wrongly depicted as a stalker in Richard Gadd's Netflix struck Baby Reindeer has sued the streaming service for disparagement and other charges. - Samsung Electronic devices unionized employees staged what they called the first-ever walkout at the South Korean technology giant since it was founded more than five years back, taking a day of paid leave en masse. - Netflix investors voted to advise approval of a refreshed executive-pay plan a...

Private equity fund MBK Partners and South Korean zinc producer Young Poong introduced a 2 trillion won ($ 1.5 billion) tender offer for shares in Korea Zinc, which the target called a hostile. takeover attempt. The tender offer will look for to purchase in between 1.44 million and. 3.02 million Korea Zinc shares, or between a 6.98% to 14.61%. stake at 660,000 won per share, according to regulative filings. on Friday. The shares were 556,000 won per share as of Thursday's. close. Shares in Korea Zinc leapt 19.8% on Friday to trade. slightly above the tender deal rate as of...

General Motors and Hyundai Motor Co said on Thursday they have accepted check out future partnership across crucial strategic locations consisting of prospective joint car advancement, supply chain issues and cleanenergy technologies. The U.S. and Korean car manufacturers said they had signed a. non-binding memorandum of understanding to think about ways to. take advantage of their complementary scale and strengths to lower. costs and bring a larger variety of cars and technologies to. customers much faster. Automakers deal with 10s of billions of dollars in capital expenses. to construct new electrical cars and batteries, safe supply. chains and establish advanced...

India's metalstooil conglomerate Vedanta has actually prompted the federal government to push Japan and South Korea to change their trade pacts to remove their import tasks on nickel sulphate used in EV batteries, a source familiar with the matter stated. Vedanta and some smaller firms turn nickel ores imported mostly from Australia, Indonesia and Turkey into nickel sulphate before shipping it to South Korea, Japan and other nations. The company, part of London-headquartered Vedanta Resources and led by billionaire Anil Agarwal - has petitioned India's. federal government to change the guidelines of origin provision in New Delhi's. Comprehensive Economic Collaboration...

MercedesBenz and U.S. battery start-up Factorial are working on a solidstate battery that needs to considerably increase electrical automobile variety and be all set for production by the end of the decade, the companies said on Tuesday. The brand-new battery, called Solstice, ought to extend EV range about 80% above today's average, with an energy density of 450 Watt-hours per kilogram, the companies said in a declaration. Solid-state batteries have actually been billed as a game-changing technology for EVs, as they must minimize fire threat and allow for lighter, lower-cost cars and trucks than can take a trip further on...

Mining huge Rio Tinto and Chinese EV-maker BYD are among the six business eligible to continue with proposals to establish a lithium project in Chile's Altoandinos salt flats, state-run mining company ENAMI stated on Thursday. The salt flats in the northern area of Atacama are one of the locations where the Chilean government is aiming to boost lithium production in collaboration with the state by starting new jobs. ENAMI introduced its search in May, looking for a partner to deal either financial backing or functional assistance in Altoandinos, for an ownership stake that has yet to be determined. The complete...

The CEO of South Korea's Young Poong Corp has actually been jailed, the business said on Thursday, as prosecutors examined his liability over safetyrelated deaths at the business's Seokpo zinc smelter. A South Korean court authorized early Thursday an arrest warrant for CEO Park Young Min after prosecutors declared he violated a South Korean law that holds companies criminally liable for serious industrial accidents. Young Poong said Park's arrest caused no significant disturbance to management or production. It had actually already cut production at Seokpo, the world's. sixth-largest zinc smelter considering that March, Reuters reported. Park has yet to be...

Madagascar's Ambatovy nickel project business filed a debt restructuring strategy with an English court in London on Wednesday, a spokesperson at the project's major investor Sumitomo Corp said. Sumitomo owns a 54.2% stake in the project business - Ambatovy Minerals, a mining company, and Dynatec Madagascar, a. refining business - while the staying stake is held by Korea. Mine Rehabilitation and Mineral Resources. The filing becomes part of their effort to make sure the steady and. efficient operation of the job, not a liquidation process,. the representative told Reuters. The representative did not offer information of the financial obligation. reorganizing...

Workers at BHP's. Escondida mine in Chile began a strike Tuesday morning after pay. negotiations with management broke down, setting the phase for a. possible hit to production at the world's most significant copper mine. The workers' union stated early on Tuesday a strike was set to. start at 8 a.m. regional time (1200 GMT), after little development was. made during 5 days of government mediated talks. We made every responsible effort to reach an arrangement, however. that wasn't possible, said the union, which represents about. 2,400 people. BHP said it had triggered a contingency plan to manage the. strike,...

Lithium innovation start-up EnergyX has made a $150 million quote for Galan Lithium's possessions in Argentina, part of a method to combine acreage required to produce the electrical car battery metal amid low market prices. The deal - for $150 million in money, shares in EnergyX, task funding and a royalty payment - was first sent on July 11 and the two companies remain in negotiations, according to EnergyX. Information of the offer were initially reported in the Australian press. Agents for Perth-based Galan were not immediately offered to comment. The business's stock, noted in Australia, was halted on Monday...

Workers at BHP's Escondida, the world's biggest copper mine, rejected an offer for a brand-new collective bargaining contract, setting the stage for a potential strike, the union said on Thursday. A total of 2,371 workers, or about 99.75% of union members, voted in favor of the strike. In a declaration, the union said the call for a strike was overwhelmingly backed by partners that saw the deal made no genuine progress towards employee objectives. The union reiterated its demand for 1% of dividends to disperse equally amongst employees and said the present offer by the company also extended work days...

Indonesian President Joko Widodo on Friday released the 2nd stage of an industrial complex in Central Java intended to attract financiers looking to diversify their supply chains far from China. Batang commercial park currently hosts nearly 20 business in 10% of its total location of 4,300 hectares, including South Korea's. LG Energy Option and glass maker KCC Glass, and. they have actually started building and construction or have actually pledged to build. factories there. Jokowi, as the president is typically known, stated companies. have actually invested 14 trillion rupiah ($ 860 million) up until now. Now another 400 hectares will...

Chinese companies are in talks with potential financiers to lower their stakes in Indonesian nickel smelters amidst efforts to make their items eligible for U.S. electrical vehicle tax credits, an Indonesian official stated on Friday. Under the U.S. Inflation Decrease Act, to be qualified for an electrical vehicle (EV) tax cut, products for an EV or batteries need to be provided by companies with not more than 25%. ownership by a foreign entity of issue, which applies to. business from China, Russia, North Korea and Iran. Indonesia, the world's greatest manufacturer of nickel, has been. negotiating a crucial mineral deal...