South Korean stocks opened a tad lower Thursday as investors remained cautious following US chip giant Nvidia's earnings report. The benchmark Korea Composite Stock Price Index lost 3.75 points, or 0.15 percent, to 2,478.54 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average rose 0.32 percent and the Nasdaq Composite dropped 0.11 percent before Nvidia released its quarterly report after the bell. Nvidia reported third-quarter earnings that

South Korean steel giant Posco Group said Wednesday that it will shut down a wire rod mill at its steelworks in Pohang, North Gyeongsang Province, citing global oversupply. The company explained that the decision reflects recent market challenges, including the ongoing global steel surplus, aging facilities, and the impact of China’s low-cost exports. According to Posco, the global wire rod market in 2023 had a production capacity of approximately 200 million metric tons, while demand reac

South Korea's leading steelmaker, Posco, said Tuesday it shut down a wire rod mill in its factory in the southeastern city of Pohang in an effort to boost profitability and managerial efficiency. The Unit 1 wire rod mill at the Pohang factory, 273 kilometers southeast of Seoul, was brought to an end in the day after more than 45 years of operation, according to the steelmaker. The shutdown decision was made due to the heated competition and oversupply in the global wire rod market from chea

Second Vice Foreign Minister Kang In-sun visited Posco Group’s battery materials subsidiary Posco Future M’s anode manufacturing plant in Sejong, pledging to support the facility in recovering its production levels. While touring the site Monday, Kang said, “Natural graphite and anode materials are critical minerals with high reliance on imports, underscoring the urgent need to diversify the supply chains. The government will actively support companies, including Posco Future M

South Korean stocks started a tad higher Tuesday following the previous day's rally. The benchmark Korea Composite Stock Price Index added 5.11 points, or 0.21 percent, to 2,474.18 in the first 15 minutes of trading. The main index jumped 2.16 percent Monday, the sharpest daily gain since Sept. 26, led by a rally in chipmakers, such as Samsung Electronics. In the United States, the Dow Jones Industrial Average fell 0.13 percent, and the tech-heavy Nasdaq Composite rose 0.6 percent. In Seo

South Korean shares fell to their lowest level in a year Wednesday, extending their losing streak to a fourth day, as investors' concerns grew over policy uncertainties under the incoming US Trump administration. The local currency also dropped against the US dollar to a two-year low, breaching 1,400 won for the second straight session as of 3:30 p.m. The benchmark Korea Composite Stock Price Index sank 65.49 points, or 2.64 percent, to close at 2,417.08, marking the lowest since Nov. 13, 2

South Korean stocks opened lower on Monday, as investors sat on the sidelines over policy uncertainties under the incoming Trump administration. The benchmark Korea Composite Stock Price Index fell 12.6 points, or 0.49 percent, to 2,548.55 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics moved down 2.11 percent, and No. 2 chipmaker SK hynix shed 1.8 percent. Top battery maker LG Energy Solution, on the other hand, increased 8.91 percent. Top steelmaker Posco Holdi

A fire erupted early Sunday morning at a Posco factory in Pohang, North Gyeongsang Province, and was brought under control within hours. Yet, a series of incidents, including multiple fires at Posco’s steel plant, has heightened anxiety among local residents this year. According to fire authorities, a fire erupted with multiple explosions at the Posco plant’s third Finex factory at around 4:20 a.m. Sunday. After initiating an emergency response at around 4:50 a.m., deploying 43 fire

A fire broke at a Posco factory in the southeastern city of Pohang early Sunday, leaving one worker injured, fire authorities said. The fire started with multiple explosions at the steel company's third Finex furnace of the plant, located about 270 kilometers southeast of Seoul, at around 4:20 a.m. The blaze was initially contained by around 6:30 a.m. and completely extinguished at around 9:20 a.m. Witnesses reported hearing explosions that felt like an earthquake, and some said they felt the gr

Posco Group is reportedly considering selling its stainless steel plant in Zhangjiagang, China, as part of a broader restructuring initiative led by Chairman Chang In-hwa to streamline 125 low-profit and non-core assets. According to industry sources Friday, Posco is in the process of selecting an advisory firm to aid in decision-making regarding the sale of Zhangjiagang Pohang Stainless Steel. With an annual production capacity of 110,000 metric tons, the plant was constructed near the Yangtze

The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i

South Korean steel giant Posco Group on Wednesday held the 2024 Posco Group Tech Forum, an annual event dedicated to sharing advancements in the core technologies of the group’s key businesses and discussing future directions. Now in its 36th year, the event was held offline in Pohang, North Gyeongsang Province, for the first time in five years following disruptions caused by the COVID-19 pandemic. This year’s forum focused on deepening understanding of the group’s core technol

South Korean stocks kicked off higher Wednesday tracking an overnight tech rally on Wall Street. The benchmark Korea Composite Stock Price Index rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading. Overnight, major US indexes gained ground as a report on the services industries shows that the US economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, the tech-heavy Nasdaq Composite increased 1.43 percent, and the S&P 500 went up 1.23 per

South Korean stocks ended lower for the second day Tuesday as investors treaded water ahead of the US presidential election. The local currency sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 12.09 points, or 0.47 percent, to close at 2,576.88. Trade volume was slim at 306.1 million shares worth 7.6 trillion won ($5.5 billion), with winners outpacing losers 514 to 356. Individual investors purchased a net 388.9 billion won worth of local stocks, wh

South Korean steelmaker Posco Group announced Tuesday that its joint venture, Posco Zhongtai Air Solution, has started construction of a high-purity rare gas plant in Gwangyang, South Jeolla Province. The joint venture was launched in August between Posco Holdings and China's Zhongtai Cryogenic Technology, which own 75.1 percent and 24.9 percent of the entity, respectively. Zhongtai, which specializes in gas-related facilities, is a Chinese cryogenic equipment company listed on the Shenzhen