Latest news with #DoosanEnerbility
Korea Herald
10 hours ago
- Business
- Korea Herald
Seoul shares drop for 3rd day ahead of US inflation data
South Korean stocks fell for the third consecutive session Tuesday as investors stayed cautious ahead of US inflation data, a key barometer of the Federal Reserve's monetary policy. The local currency slipped slightly against the US dollar. The benchmark Korea Composite Stock Price Index lost 16.86 points, or 0.53 percent, to close at 3,189.91. The index has remained in negative territory since Friday. Trade volume was moderate at 369.6 million shares worth 10.05 trillion won ($7.2 billion), with decliners beating gainers 547 to 343. Foreign and institutional investors sold a net 60.05 billion won and 98 billion won worth of stocks, respectively, while individuals bought a net 63.5 billion won. Analysts noted that investors were awaiting US consumer price data due Tuesday (US time), which could provide clues on the Federal Reserve's future interest rate path. "Investors are waiting to see as the figures could prompt a possible rate cut by the Federal Reserve," Lee Jae-won, an analyst at Shinhan Securities Co., said, noting the US consumer price data is set to be released at 9:30 p.m. (Seoul time). Investors are also waiting for the outcome of consultations between the government and the ruling party on scrapping earlier plans to tighten capital gains tax rules. Energy, shipbuilding and entertainment shares led the decline. Doosan Enerbility slumped 5.62 percent to 65,500 won, and Korea Electric Power Corp. lost 1.15 percent to 38,550 won. Major shipyard HD Korea Shipbuilding & Offshore Engineering dropped 2.06 percent to 356,000 won, while Hanwha Ocean retreated 2.8 percent to 104,000 won. Entertainment giant CJ ENM skidded 0.8 percent to 74,400 won, and K-pop powerhouse Hybe dipped 2.42 percent to 282,000 won. Top-cap Samsung Electronics rose 0.14 percent to 71,100 won, with its chipmaking rival SK hynix gaining 0.75 percent to 269,000 won. Major gamemaker NCSOFT soared 10.12 percent to 223,000 won on its better-than-expected second-quarter earnings report. The local currency was quoted at 1,389.9 won against the greenback at 3:30 p.m., down 1.9 won from the previous session. (Yonhap)
Korea Herald
07-07-2025
- Business
- Korea Herald
Korea hosts largest offshore wind event, doubles global participation
Global developers, Korean suppliers hold 44 business meetings to strengthen offshore wind ties The Korea Wind Energy Industry Association said Monday it successfully hosted the nation's largest offshore wind power event, solidifying its role as a hub for international collaboration in renewable energy. The second annual Offshore Wind Supply Chain Conference & Exhibition was held on Wednesday and Thursday at Bexco convention center in Busan. This year's event brought together 74 offshore wind supply chain companies from around the world, including those from the United Kingdom, Japan, Taiwan and the Netherlands. This was twice the number of companies from last year and attracted 2,250 visitors. 'With the successful completion of both last year's and this year's events, the Offshore Wind Supply Chain Conference & Exhibition has firmly established itself as Korea's leading offshore wind power industry gathering,' said an association official. During the event, industry leaders and experts discussed a range of topics, including Korea's policy support, changes in wind farm financing under the second Donald Trump administration and strategies to enhance regional collaboration in Asia's offshore wind industry. According to the association, Korean energy solutions provider Doosan Enerbility signed partnership agreements with 10 companies during the event to jointly strengthen the offshore wind supply chain. Additionally, 44 meetings were held between Korean supply chain businesses and global developers. FoundOcean of the UK, a world-leading company specializing in securing offshore structures to the seabed, also signed a technology collaboration agreement with K-BETS, a leading Korean offshore structure specialist. New programs, such as tours to nearby supply chain businesses in Busan, Ulsan and South Gyeongsang Province, also received positive feedback, the association said. 'The KWEIA will keep striving to highlight Korea's supply chain capabilities and help revitalize the domestic wind power market,' the official added.
The Star
30-06-2025
- Business
- The Star
South Korea's Lee names Koo Yun-cheol finance minister, makes other picks
South Korean President Lee Jae Myung has announced his picks for several positions across the goverenment. - Photo: Reuters SEOUL: South Korea President Lee Jae Myung has chosen a former vice finance minister, Koo Yun-cheol, to be his finance minister, his office said on Sunday (June 29). Koo is widely known as a policy expert, serving different positions across the government and authoring books on South Korea's innovation and growth, most recently on artificial intelligence, Lee's chief of staff, Kang Hoon-sik, told a briefing. Among other ministerial positions, Lee named Kim Jung-kwan, president of power plant builder Doosan Enerbility and a veteran bureaucrat in economics, energy and public policy, to be industry minister. Kim fits the role to realise President Lee's "energy mix philosophy", Kang said, referring the new leader's aim to balance nuclear power and renewable energy. The former head of South Korea's disease control agency, Jeong Eun-kyeong, was nominated for health minister. She was highly praised for her response to the Covid-19 pandemic, becoming one of the Time Magazine's 100 most influential people of 2020. Cabinet nominations in South Korea must be vetted by hearings in parliament. But presidents may appoint their nominees even without parliament approval, and Lee's Democratic Party has a majority in parliament. - Reuters
Observer
29-06-2025
- Business
- Observer
South Korea's Lee names new officials
SEOUL: South Korea needs to take measures to support its economy in the short term as it continues tariff talks with the US, its likely new finance minister Koo Yun-cheol said on Sunday after being nominated for the role by President Lee Jae Myung. Koo, a former vice-finance minister, still needs to go through parliament hearings before being confirmed as finance minister. Other ministerial appointments were also announced by the president's office on Sunday. "We need to take pre-emptive measures and prepare for situations such as the current tariff negotiations with the United States," Koo told a press conference. Among other ministerial positions, Kim Jung-kwan, president of power plant builder Doosan Enerbility and a veteran bureaucrat in economics, energy and public policy, was nominated to be industry minister. The former head of South Korea's disease control agency, Jeong Eun-kyeong, was nominated for health minister. She was highly praised for her response to the Covid-19 pandemic, becoming one of Time Magazine's 100 most influential people of 2020. — Reuters
RTHK
29-06-2025
- Business
- RTHK
South Korea names new cabinet ministers
South Korea names new cabinet ministers President Lee Jae Myung has tabbed Koo Yun-cheol to be his finance minister. File photo: Reuters South Korea President Lee Jae Myung has chosen a former vice finance minister, Koo Yun-cheol, to be his finance minister, his office said on Sunday. Koo is widely known as a policy expert, serving different positions across the government and authoring books on South Korea's innovation and growth, most recently on artificial intelligence, Lee's chief of staff, Kang Hoon-sik, told a briefing. Among other ministerial positions, Lee named Kim Jung-kwan, president of power plant builder Doosan Enerbility and a veteran bureaucrat in economics, energy and public policy, to be industry minister. Kim fits the role to realise President Lee's "energy mix philosophy", Kang said, referring the new leader's aim to balance nuclear power and renewable energy. The former head of South Korea's disease control agency, Jeong Eun-kyeong, was nominated for health minister. She was highly praised for her response to the Covid-19 pandemic, becoming one of the Time Magazine's 100 most influential people of 2020. Cabinet nominations in South Korea must be vetted by hearings in parliament. But presidents may appoint their nominees even without parliament approval, and Lee's Democratic Party has a majority in parliament. (Reuters)
