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South Korean Won Strengthens Against U.S. Dollar Amid Middle East Tensions
The South Korean won strengthened to 1,416.1 per U.S. dollar on Friday as exporters sold dollars amid renewed Middle East tension and rising global oil prices, despite foreign net selling of local stocks.
SK hynix to Invest $38.3 Billion in New AI Memory Chip Factories in South Korea
SK hynix invests 54.3 trillion KRW ($38.3B) in two new semiconductor fabs in Yongin and Cheongju, South Korea, to meet growing AI memory chip demand, aligning with the government's 'tripolar mega project'
POSCO Holdings to Sell $1.76 Billion Worth of Shares in Two Affiliates
POSCO Holdings to divest $1.76B in shares from POSCO International ($1.76B) and POSCO DX ($176M) on Sept 7 to secure funds and boost corporate value.
Kakao Union Reaches 6.3% Wage Hike Deal with Management After 3-Month Dispute
Kakao's unionized workers secure 6.3% annual pay rise plus a 3M KRW special bonus after a 3-month wage dispute, including a historic strike.
Seoul Shares Decline for Second Day Amid Middle East Tensions
KOSPI falls 0.6% to 6,258.77 amid foreign selling due to Middle East tensions, particularly over Iran's threat to block the Strait of Hormuz, impacting oil prices and market volatility.
Seoul Shares End Lower on Foreign Selling Amid Middle East Tensions
Seoul shares ended lower for a second straight session Friday, weighed down by foreign selling as renewed tensions in the Middle East over the Strait of Hormuz dampened investor sentiment.