Asia Top News and Analysis South Korea

  • *MSCI Asia ex- Japan +0.5 pct. SHANGHAI, March 21- Shares in Asia rose on Thursday after the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent.

  • WASHINGTON, March 20- South Korean oil refiners S-Oil Corp and Hyundai Oilbank Co have agreed to settle criminal and civil charges of rigging bids to supply fuel to the U.S. military, the Justice Department said on Wednesday. Hyundai will pay $83.1 million in criminal and civil fines while S-Oil will pay $43.58 million to settle the allegations, the Justice...

  • SEOUL, March 21- The showdown between U.S. activist hedge fund Elliott Management and Hyundai Motor Group is set to come to a head on Friday when shareholders gather to vote on the fund's demands for a hefty special dividend and a board shake-up. While it looks likely to fail on most counts on Friday, even if it manages to gain a single seat at Hyundai it would be a major...

  • SEOUL, March 21- The showdown between U.S. activist hedge fund Elliott Management and Hyundai Motor Group is set to come to a head on Friday when shareholders gather to vote on the fund's demands for a hefty special dividend and a board shake-up. While it looks likely to fail on most counts on Friday, even if it manages to gain a single seat at Hyundai it would be a major...

  • WASHINGTON, March 20- South Korean oil suppliers S-Oil Corp and Hyundai Oilbank Co have agreed to settle criminal and civil charges of rigging bids to supply fuel to the U.S. military, the Justice Department said on Wednesday. Hyundai will pay $83.1 million in criminal and civil fines while S-Oil will pay $43.58 million to settle the allegations, the Justice...

  • SEOUL, March 20- The breakdown at last month's U.S.- North Korea summit has left South Korean President Moon Jae- in with little room to manoeuvre and exacerbated divisions within his government over how to break the impasse, three sources familiar with the issue said. The weeks since the Hanoi summit have revealed how difficult it may now be for Moon to play his...

  • SEOUL, March 20- The breakdown at last month's U.S.- North Korea summit has left South Korean President Moon Jae- in with little room to maneuver and exacerbated divisions within his government over how to break the impasse, three sources familiar with the issue said. The weeks since the Hanoi summit have revealed how difficult it may now be for Moon to play his...

  • *Ports in Finland, Lithuania, Ireland, Russia restrict scrubbers. Singapore, China and Fujairah in the United Arab Emirates have already banned the use of the cleaning systems, called open loop scrubbers, from the start of next year when the new IMO rules come into force. Reuters has learned that individual ports in Finland, Lithuania, Ireland and Russia, have all...

  • In November, Reuters reported that federal prosecutors had launched a criminal investigation into Hyundai and Kia to determine if vehicle recalls linked to engine defects had been conducted properly. Hyundai and Kia said they were cooperating with the investigation. Hyundai added that it had improved its "engine manufacturing" and was reaching out to...

  • U.S. President Donald Trump walks with North Korean leader Kim Jong Un during a break in talks at the U.S.-North Korea summit in Hanoi on February 28, 2019.

    North Korean Vice Foreign Minister Choe Son Hui said at a news conference that her country has "no intention to yield" to demands made by the U.S.

  • ADDIS ABABA/ SINGAPORE, March 12- Singapore, Australia, Malaysia and Oman became the latest nations to suspend Boeing 737 MAX aircraft on Tuesday, while identification of the Ethiopian crash's 157 victims dragged and black boxes were yet to yield the cause. Sunday's disaster- following another fatal crash of a 737 MAX jet in Indonesia five months ago- has caused...

  • *Singapore and Australia latest to suspend Boeing 737 MAX. ADDIS ABABA/ SINGAPORE, March 12- Singapore and Australia became the latest nations to suspend Boeing 737 MAX aircraft on Tuesday, while identification of the Ethiopian Airlines crash's 157 victims dragged and black box recorders were yet to yield the cause. Sunday's disaster- following another fatal...

  • Oil drilling operations in west Texas.

    Oil prices rose on Saudi Arabia's plan for further voluntary supply curbs and a cut in Venezuelan exports due to a power outage.

  • *No 737 MAX jets can operate in and out of Singapore, Australia. *Boeing enhancing flight control software after Lion Air crash. SINGAPORE, March 12- Singapore and Australia suspended operations of all Boeing 737 MAX aircraft in and out of their airports on Tuesday, and Indonesia and China grounded their fleets of the U.S. planemaker' s latest model after it suffered...

  • NEW YORK/ SEOUL, March 11- Proxy advisory firm International Shareholder Services on Monday recommended that Hyundai Motor Group investors elect some directors nominated by Elliott Management as the activist hedge fund braces for a showdown with the South Korean conglomerate. Elliott, the $35 billion New York- based hedge fund, hopes to obtain seats on the...

  • *Ethiopian Airlines, Cayman Airways also ground jets. *Cause of Ethiopian Airlines crash not known. An Ethiopian Airlines 737 MAX 8 bound for Nairobi crashed minutes after take-off on Sunday, killing all 157 people on board and prompting the carrier to ground the rest of its fleet of the jets.

  • SEOUL/ TOKYO, March 11- SoftBank Group Corp has expanded its appetite for early-stage startups, with a venture capital unit set to launch its biggest fund for early investments as it opens new offices in Asia. The global fund from newly rebranded Seoul- based SoftBank Ventures Asia will be worth as much as $500 million and could launch next month, its CEO JP Lee told...

  • TOKYO, March 8- Japan Airlines on Friday named its new low-cost carrier ZIPAIR, and said it will connect Narita airport near Tokyo with Bangkok's Suvarnabhumi and Incheon airport near Seoul next year, as demand for budget air travel grows in Asia. The operator of the LCC service offering medium to long-haul flights, ZIPAIR Tokyo, said it aimed to eventually offer...

  • Lawmakers attend US President Donald Trump's State of the Union address at the US Capitol in Washington, DC, on February 5, 2019. - Women from both political parties wore white outfits tonight at the behest of the Democratic Womens Working Group to honor the legacy of women's suffrage in the United States.

    Female participation on corporate boards across the world improved last year, but more needs to be done to help women advance, according to a J.P. Morgan report on achieving gender balance.

  • South Korean President Moon Jae-in (R) walks with North Korean leader Kim Jong Un (L) before their meeting at Paekhwawon State Guesthouse on September 19, 2018 in Pyongyang, North Korea.

    South Korea's President Moon Jae-in has replaced his unification minister in charge of relations with North Korea and appointed a longtime confidant, Moon's office said on Thursday.