
AI-generated summary
HD KSOE is the shipbuilding subholding company of HD Hyundai Co. Its affiliate HD Hyundai Heavy Industries Co. will build the vessels.
SEOUL, Nov. 6 (Yonhap) -- HD Korea Shipbuilding & Offshore Engineering (KSOE) Co. said Friday it has secured a 630.1 billion-won (US$464.5 million) order for very large ammonia carriers (VLACs).
HD KSOE, the shipbuilding subholding company of HD Hyundai Co., said its affiliate, HD Hyundai Heavy Industries Co., will build the vessels for an African client and deliver them by the first half of 2030.
With the latest contract, HD KSOE has secured orders worth US$21.2 billion for 193 vessels so far this year, reaching 91 percent of its annual order target.

U.S. private equity firm TPG will acquire the remaining 38.83 percent stake in South Korea's leading car rental company Lotte Rental through a tender offer valued at 831.7 billion won, aiming to delist it and make it a wholly owned subsidiary by early December.

The Ministry of Finance and Economy announced that Um Woo-jong, former Secretary General of the Asian Development Bank (ADB), was appointed as the first Vice President of the Independent Accountability Organization of the World Bank Group (WBG). As the second Korean vice president of the World Bank Group, it is expected that Korea's status within international financial organizations will increase.

With the KOSPI plummeting below the 5,000 mark and a circuit breaker being activated, individual investors net bought more than 9 trillion won in Samsung Electronics and SK Hynix over the course of a month. Uncertainty caused by the results of the U.S. midterm elections and President Trump's announcement of reciprocal tariffs triggered a stock market crash, and experts analyzed the market as not reflecting traditional fundamental logic.

Doosan Group will invest about 550 billion won ($405.4 million) to expand copper-clad laminate production capacity in Changshu, China, through 2028, targeting AI data center demand as part of a broader 970 billion-won plan announced in September.

While the stock market fell due to concerns about strengthening regulations on AI data centers after the U.S. midterm elections, Yuanta Securities and Daishin Securities analyzed that the market reaction was excessive, saying that it is difficult to interpret construction delays as a cessation of AI investment. However, Coreweave's performance is expected to be a short-term test.

Seoul stocks opened sharply lower Friday, with KOSPI down 8.55% to 4,923.47, triggering a 20-minute circuit breaker after Wall Street's overnight rout. Samsung Electronics fell 9.98% and SK hynix dropped 11.63% amid fears a Democratic sweep could slow data center investments. Oil prices rose after Iranian forces reported at least five tankers damaged in the Strait of Hormuz.