South Korea

Inbound U.S. President Donald Trump's shift group is recommending sweeping changes to cut off assistance for electric cars and charging stations and to reinforce procedures obstructing automobiles, elements and battery materials from China, according to a file seen . The recommendations, which have actually not been formerly reported, come as the U.S. electric-vehicle shift stalls and China's greatly subsidized EV industry continues to rise, in part since of its superior battery supply chain. On the project path, Trump promised to alleviate policies on fossil-fuel cars and trucks and roll back what he called President Joe Biden's EV mandate. The shift...

U.S. trade officials on Friday announced a brand-new round of tariffs on solar panel imports from 4 Southeast Asian nations after American manufacturers grumbled that business there are flooding the marketplace with unjustly low-cost products. It is the second of 2 initial decisions that President Joe Biden's Commerce Department is making this year in a trade case brought by Korea's Hanwha Qcells, Arizonabased First Solar Inc and several smaller producers seeking to protect billions of dollars in financial investments in U.S. solar manufacturing. This is the latest chapter in a more than decadelong trade war with Chinese companies over their...

U.S. trade authorities are expected to announce on Friday a brand-new round of tariffs on photovoltaic panel imports from 4 Southeast Asian nations after American makers complained that companies there are flooding the market with unjustly low-cost goods. It is the second of two initial decisions that President Joe Biden's Commerce Department is making this year in a trade case brought by Korea's Hanwha Qcells, Arizonabased First Solar Inc and numerous smaller manufacturers seeking to safeguard billions of dollars in financial investments in U.S. solar manufacturing. This is the most recent chapter in a more than decadelong trade war with...

Solaredge Technologies stated on Wednesday it would shut its energy storage unit and cut labor force by about 12%, sending out the shares of the solar inverter maker up 2.7% before the bell. The business has been witnessing weak need for property solar in Europe due to a decline in electrical energy rates and competition from Chinese competitors. In the U.S., the Israel-based business is dealing with difficult competitors with companies such as Enphase Energy and Tesla for market share in energy storage items. Solaredge said the task cuts will affect nearly 500 employees, primarily in manufacturing positions in South...

North Korea has likely received more than 1 million barrels of oil from Russia over an eightmonth duration this year in breach of U.N. sanctions, according to an analysis of satellite images published on Friday by the Britishbased Open Source Centre and the BBC. North Korean oil tankers have made more than 40 visits to Russia's Far Eastern port of Vostochny considering that March, the report on the research group Open Source Centre's site said. Dozens of high-resolution satellite images, AIS (Automatic. Recognition System) data and images launched by maritime. patrol missions entrusted with keeping track of North Korea's. U.N.-sanctions...

North Korea has likely received more than 1 million barrels of oil from Russia over an eightmonth duration this year in breach of U.N. sanctions, according to an analysis of satellite images released on Friday by UKbased Open Source Centre and the BBC. North Korean oil tankers have actually made more than 40 visits to Russia's Far Eastern port of Vostochny considering that March, the report on the research study group Open Source Centre's website said. Dozens of high-resolution satellite images, AIS (Automatic. Identification System) data and images released by maritime. patrol missions tasked with keeping track of North Korea's....

Naphtha is anticipated to stay in short supply in Asia over the next number of years as more crackers come online and as need for blending the fuel with gas increases, industry executives and experts stated. Tight supply might support costs for the fuel and petrochemical feedstock and lift refiners' margins. However, raised naphtha rates will put more margin pressure on petrochemical makers which are facing weak need and increases in inventories for their products. In Asia, the naphtha deficiency compared to require is approximated at 1.73 million barrels each day (bpd) in 2025, and 1.51 million bpd in 2026,...

Net income at Japanese oil refiners fell in the very first half of their financial year, but they kept profitability and outperformed their South Korean rivals as strong domestic margins shielded them from a weak abroad market. Japan's leading 3 refiners - Eneos Holdings, Idemitsu Kosan and Cosmo Energy Holdings - reported a 40% to 60% drop in net earnings for the six months ended Sept. 30, compared to the year ago duration, primarily affected by significant appraisal losses on oil stocks amid falling unrefined prices. However, earnings excluding inventory-related factors fell by only 22% to 35%, assisted by improved...

Oil costs fell on Wednesday as early poll results in the U.S. election showed Democrat Kamala Harris and Republican Donald Trump secured a tight race for the presidency. U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to trade at $71.72 per barrel, and Brent crude oil futures lost 0.35 cents, or 0.46%, to trade at $ 75.18 per barrel at 0132 GMT. Trump won 8 states in Tuesday's U.S. governmental election while Harris recorded 3 states and Washington, D.C., Edison Research forecasted, however the outcome of the race stayed unpredictable with crucial battlefield states not likely to...

storyp1> LONDON, Oct 20 (Reuters) Foreign minister David Lammy will look to deepen Britain's security cooperation with Indonesia and South Korea throughout his see to the 2 Asian countries in which he is likewise anticipated to discuss the tidy energy shift. His check out to South Korea comes days after Ukraine's President Volodymyr Zelenskiy implicated North Korea of preparing to send out 10,000 soldiers to assist Moscow's war effort, raising U.S. issues. NATO chief Mark Rutte has actually said there was no evidence of Pyongyang's existence at this stage. Stress have actually also been running high up on the Korean...

Fertiglobe expects to more than double its net ammonia production capability as it incorporates ADNOC's portfolio of low carbon ammonia tasks following the energy giant's purchase of a majority stake in the fertiliser maker on Tuesday. Fertiglobe CEO Ahmed El-Hoshy told Reuters the offer conclusion, which saw ADNOC buy simply over a 50% stake in the business from European chemical manufacturer OCI for $3.62. billion, would speed up Fertiglobe's path towards ending up being a. low carbon ammonia powerhouse. The deal, which raises ADNOC's stake to 86.2%, is the most recent. relocation by the state-owned Abu Dhabi group to broaden...

A take a look at the day ahead in Asian markets. Trading in Asia begins on Monday with the worldwide macro and market landscape all of a sudden appearing really various from how it searched Friday, thanks to a set of U.S. work figures that not even the most bullish of forecasters expected. The September non-farm payrolls report on Friday was unequivocally strong on all fronts, and throws into doubt the projected path for U.S. rate of interest that financiers - and possibly the Fed too - had started to settle on. The instant shift in U.S. rate futures markets...

Korea Zinc stated on Tuesday its board has decided to hold a special investors' conference on Jan. 23 to discuss the appointment of directors proposed by stakeholders Young Poong and personal equity firm MBK Partners amid an escalating defend control of the business. Korea Zinc led by Chairman Yun B. Choi seeks to retain management control of the world's leading improved zinc producer in the face of a takeover quote by Young Poong, a rival manufacturer, and its ally MBK. They are Korea Zinc's two most significant shareholders. Young Poong and MBK asked a court to need Korea Zinc to...

South Korea and Malaysia signed an agreement on Monday to cooperate in supplying vital minerals from Malaysia's reserves and to improve cooperation in the defence market as the Southeast Asian country seeks to upgrade its air force jets. South Korean President Yoon Suk Yeol and Malaysian Prime Minister Anwar Ibrahim likewise shared their commitment at a summit to conclude an open market arrangement by next year, which would consist of extra locations such as services, investment, and green energy, Yoon's workplace stated. South Korea welcomed ongoing interest from Malaysia as it embarks on a job to change light fighter jets,...

Korea Zinc stated on Wednesday it has actually chosen to withdraw its plan to provide new shares worth $ 1.8 billion after the proposition stimulated an examination by the monetary guard dog and a selloff in its stock. The company stated in a regulative filing it has actually decided not to pursue the share concern in view of continued issues among market financiers and some investors. The relocation marks a setback to Korea Zinc Chairman Yun B. Choi, who was seen backing the share problem strategy to ward off a takeover attempt by rival Young Poong and personal equity firm...

Donald Trump has actually been chosen U.S. president, topping an amazing comeback 4 years after he was voted out of the White Home. Here is what business in Asia have bought the United States, what Trump has stated about them and what possible U.S. service policy changes would mean for Asian companies. SEMICONDUCTORS Asian chipmakers, led by Taiwan's TSMC and South Korea's Samsung Electronics, have jointly invested a minimum of $117 billion in the U.S., encouraged by the current U.S. administration's essential initiative aimed at lowering its dependence on Asia for high-end chips. In return, they have gotten or been...

India's JSW Steel and South Korea's POSCO plan to invest 650 billion rupees ($ 7.73 billion). in their proposed plant in India in the coming years, sources. said, part of efforts to capitalise on rising steel need in. the world's fastestgrowing significant economy. Last week, JSW Steel and POSCO signed. a contract to establish an integrated steel plant with an initial. capability of 5 million metric lots a year. The plant will be in. the eastern state of Odisha, understood for its iron ore reserves. They did not provide monetary information of the agreement, but. sources knowledgeable about the matter...

South Korea's financial market guard dog stated on Thursday it acknowledged concerns among financiers over a current decision by Korea Zinc to release new shares and was looking into the strategy to identify if it involved any unfair practices. We will hold the business and related securities brokerage accountable if any unfair trade or misbehavior is discovered, Hahm Yong-il, senior deputy governor of the Financial Supervisory Service, told an instruction. Hahm likewise said authorities could require Korea Zinc to send a modified plan for share issuance if there was any major omission impacting investor decisions in the filing sent on...

Shares in Korea Zinc fell as much as 29.9% to their everyday lower limit in Wednesday's trade, after the world's leading zinc refiner announced a strategy to issue brand-new stock worth 2.5 trillion won ($ 1.81. billion). Run by the Choi family, Korea Zinc has actually been in a bitter. fight to manage the $18 billion zinc empire with the. co-founding Chang family, whose conglomerate Young Poong. made an initial joint offer with MBK in September. Korea Zinc said in a regulatory filing its board selected. Wednesday to issue some 3.73 million shares at 670,000 won per. share. This was...

A South Korean court on Monday declined a demand by Young Poong to temporarily block Korea Zinc from proceeding with its tender deal to buy back shares in the company, pressing shares in the world's. greatest zinc refiner to a record high. After the court rejected the injunction, Korea Zinc's biggest. shareholder Young Poong said it would submit a. claim, signalling a prolonged legal battle in between founding. families over control of the metals giant. Young Poong has actually joined with private equity fund MBK Partners. in an effort to get a controlling stake in the refiner. That triggered Korea...

India's steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct understanding of the matter stated, as it seeks to safeguard steelmakers reeling from a rise in more affordable Chinese imports. A temporary protect task would assist suppress Chinese imports, and a procedure to enforce the responsibility would start quickly, stated the official, who asked for privacy as the considerations are not public. India, the world's second-biggest crude steel manufacturer, ended up being a net importer of the alloy in the fiscal year to March 31, 2024, and the pattern has actually continued since...

Korea Zinc on Friday raised the purchase rate and size of its tender deal, magnifying a fight in between its two founding families to manage the world's biggest zinc refiner. Korea Zinc stated it has actually raised the tender rate by 7% to 890,000 won ($ 659) each and increased the variety of shares it strategies to get by 21% to 3,623,075 shares, valuing the tender offer at 3.2 trillion won ($ 2.4 billion). The relocation is the only way to ward off hostile M&A by MBK Partners and Young Poong, Korea Zinc said in a declaration. The offers tops...

Korea Zinc, the world's greatest improved zinc manufacturer, has actually been involved in a. bitter fight among founding families over control of its $12. billion zinc empire. The winner of the battle stands to manage South Korea's. substantial player in a U.S.-led effort to lower heavy reliance. on China for essential metals and products utilized in industries ranging. from building to cars, experts said. Personal equity firm MBK Partners and Young Poong. on Friday raised their offer price for shares in Korea Zinc to. match a counteroffer from competing relative and Bain Capital. WHO ARE THE MAJOR GAMERS? Young Poong...

Shares in Korea Zinc , the world's most significant fine-tuned zinc producer, rose on Friday, the last trading day before a due date to accept a. $ 1.7 billion tender offer from its biggest shareholder Young. Poong and personal equity firm MBK Partners. Run by the Choi family, Korea Zinc has been in a bitter. fight for control of the $12 billion zinc empire with the. co-founding Chang household, whose electronic devices conglomerate Young. Poong made the joint offer with MBK in September. Each side in combination with their most likely supporters holds. about a one-third stake in Korea Zinc,...