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Hyosung, Linde to Build World's Largest Liquid Hydrogen Plant

Apr 30, 2020 04:40 am UTC| Business

Hyosung Group and the Linde Group are set to build the worlds largest liquid hydrogen plant capable of producing 13,000 tons a year. The two companies have signed an MOU to invest 300 billion won by 2023 to create a...

Surge in Tourists Expected in Jeju Island During Extended Holiday

Apr 30, 2020 04:37 am UTC| Business

Jeju Island is stepping up quarantine measures as it prepares for a surge in the number of incoming tourists during an extended holiday this week. Close to 180,000 tourists are expected to visit. South Koreas longest...

Lotte Shopping Intensifies E-Commerce Drive with Integrated Website

Apr 30, 2020 04:35 am UTC| Business

Lotte Shopping Co. on Tuesday launched its integrated online shopping website Lotte ON, which would help it compete with major e-commerce operators. With Lotte ON, the shopping giant integrated websites of its eight...

Mirae Asset Threatens to Terminate $5.8B Hotel Deal With Anbang

Apr 30, 2020 04:34 am UTC| Business

Mirae Asset Global Investments said it is waiting for Anbang Insurances official explanation of why it had not fulfilled all the requirements needed to close a $5.8 billion hotel deal. A letter has been sent to Anbang...

Daewoo Engineering & Construction's Q1 Profits Up 25.3%

Apr 30, 2020 04:34 am UTC| Business

Daewoo Engineering and Construction (EC) attributed its first-quarter net profit increase of 25.3 percent to its cost-cutting efforts in its civil business division and plant division. The builder posted a net profit of...

Doosan May Get W800 B Financial Support After Unveiling Self-Rescue Plan

Apr 30, 2020 04:34 am UTC| Business

Doosan Group will sell assets and reduce costs to secure 3 trillion won and improve the financial structure of its struggling Doosan Heavy Industries. Main creditors have accepted the groups so-called self-rescue plan,...

Grains Supply Stable so Far in Korea

Apr 30, 2020 04:33 am UTC| Business

South Korea has maintained a stable supply of grains despite global borders to contain the spread of the novel coronavirus. The pandemic has sparked border closures and strict lockdowns, with countries such as Ukraine,...

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Economy

Gold Price Today: Gold Slips as Dollar Rebounds Ahead of Fed Minutes

Gold prices edged lower on Monday as the U.S. dollar regained ground after last weeks sharp decline, with investors awaiting the Federal Reserves June meeting minutes for fresh clues on the outlook for U.S. interest rates....

Dollar Rebounds as Euro, Pound Slip Ahead of Fed Minutes, Yen Near Intervention Zone

The U.S. dollar strengthened modestly on Monday, recovering some of last weeks losses as the euro and British pound weakened ahead of key economic data releases and the Federal Reserves June meeting minutes. Investors...

Oil Prices Slip as OPEC+ Boosts August Output, Oversupply Concerns Weigh on Crude Market

Oil prices edged lower in early Asian trading on Monday after OPEC+ agreed to increase production targets for August, adding to expectations of stronger global crude supplies and easing concerns over disruptions in the...

US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings

U.S. stock index futures moved higher on Sunday evening as investors prepared for a key week featuring the release of the Federal Reserves June meeting minutes and the unofficial start of the second-quarter earnings...

Gold Price Rises as Softer Dollar and Fed Rate Expectations Boost Bullion Demand

Gold prices climbed during Asian trading on Monday as a weaker U.S. dollar and fading expectations of another Federal Reserve interest rate hike this year supported demand for the precious metal. The recovery extended...

Politics

China Submarine Missile Test Sparks Concern Across Asia-Pacific

China conducted a missile test from a nuclear-powered submarine into the Pacific Ocean on Monday, prompting concern from Japan, Australia, and New Zealand over regional security and military transparency. According to...

UN Rights Council Launches Sudan Probe Over RSF Violence in al-Obeid

The United Nations Human Rights Council on Monday approved a resolution condemning the escalating violence allegedly carried out by Sudans paramilitary Rapid Support Forces (RSF) in the city of al-Obeid and authorized an...

Russia Strikes Kyiv as Ukraine Faces Patriot Missile Shortage Before NATO Summit

Russia launched a massive overnight missile and drone attack on Kyiv early Monday, killing at least 12 people and injuring more than 50, as Ukraine struggled to intercept ballistic missiles due to a critical shortage of...

Sara Duterte Impeachment Trial Opens, Putting 2028 Philippine Election in Focus

The impeachment trial of Philippine Vice President Sara Duterte officially began on Monday, marking the first impeachment proceedings against a sitting vice president in the countrys history. The closely watched case is...

Flavio Bolsonaro Urges Trump to Delay Brazil Tariffs Until After 2026 Election

Brazilian Senator Flavio Bolsonaro is set to ask the Trump administration during a hearing in Washington on Monday to postpone a proposed 25% tariff on Brazilian goods until after Brazils October 2026 presidential...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone

Bank of America upgraded T-Mobile US (NASDAQ: TMUS) to Buy from Neutral on Monday, arguing that the recent selloff in telecom stocks has created an attractive buying opportunity and that investors are overstating the...

Foxconn Q2 Revenue Surges Nearly 40% on Strong AI Server Demand

Foxconn, officially known as Hon Hai Precision Industry, reported a sharp rise in second-quarter revenue as booming demand for artificial intelligence infrastructure continued to drive growth across its cloud and...

Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook

Citi has raised its target price for Taiwan Semiconductor Manufacturing Co. (TSMC) to NT$3,800 from NT$2,875, while maintaining its Buy rating, citing stronger confidence in the chipmakers long-term growth as demand for...

AI Memory Chip Shortage Likely to Persist Despite Korea Investment Boom, Nomura Says

Concerns that a new wave of investment announcements by South Korean memory chipmakers could trigger another memory chip oversupply cycle may be exaggerated, according to Nomura analysts, who believe strong artificial...

Samsung Q2 Profit Seen Soaring as AI Memory Demand Keeps Chip Prices Elevated

Samsung Electronics is expected to report another record-breaking quarter as booming artificial intelligence (AI) demand continues to fuel higher memory chip prices and tighten global supply. Analysts estimate the South...