Business News Seoul

  • *Munoz appointment latest reshuffle at Hyundai's U.S. ops. *Munoz to assume two newly created positions at Hyundai. The appointment marks the latest management shake-up at Hyundai's U.S. operations as the South Korean automaker pushes to rejuvenate sales in the world's second-biggest auto market and grapples with a widening probe into its vehicle recalls.

  • Munoz, who will take charge on May 1, has also been named president and chief executive officer of Hyundai Motor North America and Hyundai Motor America. He joined Nissan in 2004 in Europe and led its expansion in North America after the global financial crisis. Munoz will be based in California and will report to Hyundai's top leadership in Seoul.

  • **SEOUL- Bank of Korea's monetary policy board meets 0100 GMT. BUDAPEST- Hungarian Central Bank Deputy Governor Ferenc Gerhardt's six-year term in the nine-member Monetary Council expires. THURSDAY, APRIL 25 MANILA- Asian Development Bank President Takehiko Tadao talks to the Foreign Correspondents Association of the Philippines on the bank's priorities...

  • *OPEC supply cuts, U.S. sanctions support oil prices. SEOUL, April 17- Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world's second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. The steady demand growth in China is...

  • HONG KONG/ SEOUL, April 12- The sale of a controlling stake in the parent of South Korean gaming firm Nexon Co is now narrowing to a handful of serious bidders after generating fevered speculation. A deal would rank as one of South Korea's biggest, and, at potentially $16 billion, be the biggest ever gaming deal worldwide. A 48 percent stake in Nexon is worth $6.7...

  • North Korea's Kim Jong Un

    North Korean leader Kim Jong Un said his country needs to deliver a "serious blow" to those imposing sanctions by ensuring its economy is more self-reliant, state media Korean Central News Agency (KCNA) said on Thursday.

  • LISBON, April 5- As major cities struggle to tackle the challenges of mass tourism, mayors from around the world gathered in Lisbon and adopted a first of its kind declaration to ensure the growing sector is beneficial for both visitors and locals alike. Mayors and vice mayors from 16 cities including Lisbon, Barcelona, Paris, Sao Paulo and Seoul pledged on Friday...

  • Light from signs illuminates a street in Seoul, South Korea, on Monday, July 25, 2011.

    South Korea's headline inflation slowed to its weakest pace since July 2016 in March on declines in food prices and weaker service costs growth, adding pressure for policymakers to shift to an easing stance and ramp up stimulus.

  • Hyundai and Kia together have recalled over 2.3 million vehicles since 2015 to address various engine fire risks. Hyundai said in a statement it was cooperating and added it has been in "frequent, open and transparent dialog regarding non-collision engine fires." The agency said while prior Kia and Hyundai vehicle recalls covered by the probe are primarily...

  • SEOUL, April 1- South Korean President Moon Jae- in said on Monday he hopes North Korea responds positively when he meets U.S. Speaking to his cabinet, Moon said he would use the April 11 summit in Washington to discuss restarting U.S.- North Korea talks, advancing a peace process and creating a "virtuous cycle" of improving relations with Pyongyang.

  • *Growing number of young Koreans reject conventional career paths. SEOUL, April 1- Yoon Chang- hyun's parents told him to get his sanity checked when he quit his secure job as a researcher at Samsung Electronics Co in 2015 to start his own YouTube channel. The 65 million won a year salary- triple South Korea's average entry level wage- plus top-notch healthcare and...

  • WASHINGTON, March 25- South Korean government officials are expected to press for extending a sanctions waiver on Iran's petroleum exports that expires in May on a visit to Washington this week. The Trump administration has unilaterally reimposed sanctions on Iran's oil exports, the lifeblood of its economy, as it seeks to curb Tehran's nuclear and missile...

  • WASHINGTON, March 25- South Korean government officials are expected to press for extending a sanctions waiver on Iran's petroleum exports that expires in May on a visit to Washington this week. The Trump administration has unilaterally reimposed sanctions on Iran's oil exports, the lifeblood of its economy, as it seeks to curb Tehran's nuclear and missile...

  • President Donald Trump on Friday said he has decided against imposing new large-scale sanctions on North Korea in a confusing tweet that seemed to imply he was reversing measures against two Chinese shipping companies, a U.S. administration source familiar with the matter said. But there were no new U.S. sanctions on North Korea announced on Friday, leading...

  • President Donald Trump on Friday reversed North Korea- related sanctions announced by the U.S. Treasury that additional large-scale Sanctions would be added to those already existing Sanctions on North Korea, "Trump tweeted from his Florida resort of Mar-a-Lago. There were no new U.S. sanctions on North Korea announced on Friday and Trump was apparently...

  • President Donald Trump on Friday reversed North Korea sanctions imposed by the U.S. Treasury Department just a day earlier and the White House said he was doing so because he "likes" North Korean leader Kim Jong Un and did not consider them necessary. Treasury that additional large-scale Sanctions would be added to those already existing Sanctions on North...

  • SEOUL, March 22- Hyundai Motor Group companies' shareholders rejected on Friday Elliott Management's demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund's campaign to shake up South Korea's second-biggest family-run conglomerate. Although Hyundai fended off the threat from Elliott at the closely watched vote, it...

  • SEOUL, March 22- Investors in Hyundai Motor Group companies rejected on Friday Elliott Management's demands for a massive special dividend, dealing a blow to the U.S. hedge fund's campaign to shake up South Korea's second-biggest family-run conglomerate. Elliott, founded by billionaire Paul Singer, successfully led a campaign against Hyundai's ownership...

  • *China blue-chips, Australian shares erase losses. LONDON, March 21- European shares wilted and there was a stampede into bonds on Thursday, after the U.S. Banks suffered their usual worries about low borrowing rates to drag the pan-European STOXX 600 down and though a rise in metals prices and a weaker pound helped London's FTSE edge up, Wall Street futures were...

  • LONDON, March 21- European shares wilted and there was a stampede into bonds on Thursday, after the U.S. Banks suffered their usual worries about low borrowing rates to drag the pan-European STOXX 600 down 0.2 percent, though London's FTSE edged up as its miners were lifted by higher copper and metals prices. With investors rushing to price in the prospect of U.S....