Economy
South Korea and the United States have agreed that excessive volatility in the Korean won is undesirable and that both countries will continue close consultations on foreign exchange market developments, according to Seoul’s finance ministry. The agreement was reached during a meeting between......
South Korea is nearing an agreement to secure crude oil supplies from Kazakhstan, as part of its strategy to diversify energy sources amid ongoing instability in the Middle East. According to the country’s industry minister, negotiations have made significant progress, with details regarding volumes......
A six-week conflict involving the United States, Israel, and Iran has triggered Asia's worst energy crisis in decades, with surging fuel prices, severe LPG shortages, and widespread economic fallout. A fragile two-week ceasefire announced April 7 offers only tentative relief. Wood Mackenzie's......
Tesla registered 11,134 vehicles in South Korea in March, a 330% increase compared to the same month last year, according to data from market research firm Carisyou cited by Reuters. The result makes Tesla the first imported automotive brand ever to exceed 10,000 monthly sales in the country, a milestone......
Asian stocks and emerging market currencies edged higher on Monday as reports of a possible temporary ceasefire between the United States and Iran lifted investor sentiment, despite an approaching deadline set by US President Donald Trump for Tehran to reopen the Strait of Hormuz. Trading volumes remained......
Six weeks into the war between the United States, Israel, and Iran with no ceasefire in sight, Asia, the destination for roughly 90 percent of the oil and 83 percent of the liquefied natural gas that normally transits the Strait of Hormuz, is bearing the heaviest economic toll of a conflict it did not......
The war in Iran has triggered a cascading energy crisis from Southeast Asia to Europe, with governments imposing fuel rationing, grounding aircraft, and shutting institutions as the closure of the Strait of Hormuz chokes off roughly one fifth of the world's oil and gas supply. Goldman Sachs has described......
South Korean stocks surged on Friday after Iran indicated it was working with Oman to develop a framework for overseeing maritime transit through the Strait of Hormuz, offering a measure of hope for a partial reopening of the strategic waterway after more than a month of near-total closure. The Kospi......
Japanese Finance Minister Satsuki Katayama intensified warnings to currency speculators on Friday as the yen traded near the critical level of 160 per dollar, a threshold widely regarded as a trigger for government intervention. The warning came hours after President Donald Trump's televised address......
A billionaire aviation executive based in Dubai has warned that airlines around the world could begin filing for bankruptcy within weeks if the war in Iran continues to drive jet fuel prices higher, even as the shipping industry posts record profits fueled by the same geopolitical upheaval. Gediminas......
South Korean exports reached a record $86.13 billion in March as eurozone manufacturing activity hit a 45-month high, with companies worldwide rushing to build up material stockpiles in response to supply chain disruptions caused by the conflict in the Middle East. South Korea's Ministry of Trade,......
The United Kingdom is bracing for its most immediate supply pressure as Europe's aviation fuel reserves hold for now but risk running critically low by May if the Strait of Hormuz remains effectively closed, cutting off roughly 40% of the region's jet fuel imports. The last known kerosene cargo......
Asian countries are confronting a worsening energy crisis as two simultaneous disruptions have removed roughly 30% of global liquefied natural gas supply from the market, according to the Australian Financial Review. The crisis began on March 2, when Iranian drone strikes hit the industrial cities of......
