SOUTH KOREA COP33 INTEREST
World switches on to electrification; India holds back
COP31 in Antalya emphasizes electrification, with Turkiye targeting 35% by 2035 and several countries signing the pledge. India, despite its growing electricity demand and near-universal grid access, has not yet joined the initiative. Concerns about new commitments and clean energy targets are influencing India's decision. The International Energy Agency predicts a significant increase in India’s electricity share by 2035.
Big polluters may muddy the waters again at COP
The report by Kick the Big Polluters Out, a global coalition of more than 450 environmental and civil society organisations, said representatives of major fossil fuel companies, Big Tech, industrial agriculture and food industries have accessed the climate talks through various routes.
Month after Kim Jong Un death rumours, North Korea makes historic flag change for first time in 78 years
North Korea has altered the proportions of its national flag, marking the first change in 78 years. The revised flag features an aspect ratio of 1:1.65, which is different from the former 1:2 ratio. This change reflects Kim Jong-un's effort to create a new national identity separate from previous leaders. Recent rumors about Kim's health have circulated online, prompting North Korea to share images of him at public events.
Christian Cousins cause of death: Former child star in Arnold Schwarzenegger's ‘Kindergarten Cop’ dies at 43
The entertainment world mourns the loss of Christian Cousins at 43, known for his unforgettable performances in Kindergarten Cop and Knots Landing. His half-brother, Jonas Roeser, took to social media to share heartfelt tributes and cherished memories. They began their acting careers as twins and made a lasting impression as child stars in the late '80s and early '90s.
China rules out hosting 2028 UN climate talks: Report
China has ruled out hosting the UN climate talks in 2028 after considering the option for months. Another Asian-Pacific nation may now have the opportunity to host COP33 due to this decision. Earlier, India had withdrawed from hosting this event, while South Korea has expressed interest. The upcoming climate talks will assess global progress on climate action and evaluate the goals of the Paris Agreement.
South Korea says Nvidia will keep GPU pledges after Huang's resignation
The Minister of Science and ICT of South Korea has confirmed that Nvidia will supply 260,000 GPUs as part of a commitment made during last year's APEC meetings. Despite Jensen Huang's resignation, Minister Bae Kyung-hoon emphasized that the deal remains in place. This partnership aims to leverage joint efforts in AI chips, infrastructure enhancement, and talent cultivation, reinforcing advancements in artificial intelligence across the region.
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World shares log modest losses as investors assess impact on AI sector from the Nvidia scandal
European and Asian shares mostly declined today as investors reacted to Jensen Huang's unexpected resignation from Nvidia, citing national security worries. Meanwhile, Microsoft faced a global service outage, yet the stock market remained largely stable. Asian markets, particularly Hong Kong's Hang Seng index, fell by 1.6 percent amid jitters surrounding the AI sector. Additionally, rising oil prices linked to remarks from the US President about Iran added pressure on stocks.
South Korean shares rise as tech stocks rebound on Wall Street
South Korean shares edge higher 0.36%, supported by gains in technology stocks following Wall Street’s rebound. Samsung Electronics and SK Hynix advance as foreign investors buy equities. Despite uncertainty surrounding Nvidia CEO Jensen Huang, the won strengthens against the dollar, while government bond yields decline amid mixed broader market sentiment.
South Korea sees little prospect of US-North Korea contact around APEC
South Korea sees little chance of a meeting between US President Donald Trump and North Korean leader Kim Jong Un on the sidelines of the upcoming APEC summit in China, according to a senior presidential official. Seoul also does not expect North Korea to participate in APEC-related events. The assessment comes amid rising tensions along the inter-Korean border and uncertainty over Russian President Vladimir Putin's possible attendance at the summit.
South Korea's Lee says Samsung chip packaging expansion to spur $30 billion additional investment
Lee made the comment during a groundbreaking ceremony for part of theinvestment plans that Samsung affiliates announced in July.
India ranked an 'AI Rising Contender' by BCG, built on talent rather than compute
India has been identified as a Rising Contender in artificial intelligence by Boston Consulting Group's latest report. The country benefits from a large pool of skilled AI professionals, bolstered by returning talent from abroad. The government has implemented training programs to upskill millions of citizens and broaden access to AI knowledge.
Reverse AI trade drives foreign inflows back to India but rising US inflation poses challenge: Ajay Bagga
Foreign investors are returning to Indian equity markets as global funds shift away from the artificial intelligence infrastructure trade in markets such as the US, Japan, South Korea and Taiwan, while India's relatively attractive valuations and falling crude oil prices are improving its investment appeal, banking and market expert Ajay Bagga said.
South Korea fines 15 brokerages, banks $1.2 billion for bond auction collusion
South Korea’s Fair Trade Commission fines 15 banks and brokerage firms a combined 1.6 trillion won ($1.2 billion) for colluding in 150 government bond auctions between 2020 and 2023. Institutions allegedly shared confidential bidding information, coordinated yields and volumes, distorted market competition and influenced government bond yields.
South Korean shares fall as AI concerns, US inflation weigh on sentiment
South Korean shares fell as concerns over elevated AI valuations and stronger-than-expected US inflation weighed on investor sentiment. The benchmark KOSPI declined 0.34%, led by losses in chipmakers Samsung Electronics and SK Hynix. The won strengthened against the dollar, while government bond yields rose amid expectations of further US interest rate hikes.
'Mobilising $1.3 trillion annually by 2035 to require overhaul of climate finance system'
Mobilising $1.3 trillion a year in climate finance for developing countries by 2035 is achievable, but only with a major overhaul of the global climate finance system, according to a report released by Brazil’s COP30 presidency at COP31 in Antalya. Without policy changes, annual flows are projected to reach only about $460 billion, leaving an $840 billion shortfall. The report says a combination of public and private funding, carbon markets and new taxes could raise $1.27-1.41 trillion annually by 2035. Private investment could contribute $882 billion, public sources $351-384 billion and carbon markets $40-144 billion.
No one should be left behind in efforts to tackle climate change: India at COP31
At the ongoing COP31 climate conference in Turkiye, India highlighted the urgent need for equity in climate action. The country reaffirmed its commitment to addressing adaptation needs, especially for the Global South. India called attention to the critical role of public finance from developed nations in supporting developing countries. Additionally, India's statement emphasized the importance of Article 9.1 of the Paris Agreement for financing.
Beyond K-Pop Merch and concerts. Another K-activity is drawing tourists in South Korea. This one can help you lose 400-800 calories per hour
South Korea has become a favoured location not just for K-pop and K-drama admirers but also for hiking lovers. In addition to purchasing K-pop goods and wearing traditional Hanbok for pictures, a growing number of visitors are uncovering another facet of the nation by exploring its picturesque urban mountains and their rough natural scenery.
South Korea says Nvidia issues won't affect contracted GPU supplies
Vice Minister of Science and ICT Ryu Jemyung told a parliamentary budget committee that 10,000 GPUs funded under a 2025 supplementary budget had already arrived and were in use.
Sensex & Nifty fall in Muhurat trade for first time since 2017
Indian equities experienced a slight decline during the Diwali Muhurat trading session for the first time since 2017. The Sensex ended at 80,999.40, down 28.62 points, and the Nifty closed at 24,986.40, shedding 43.95 points. Despite the drop, market sentiment has recently shown signs of improvement, particularly with foreign investors becoming buyers again.
Global investors push South Korea's chaebols to speed up reforms
Global investors are increasingly urging South Korea’s chaebols to adopt necessary corporate governance reforms to address the existing valuation gap. Despite solid market performance, many South Korean stocks are viewed as undervalued on the global stage. Notably, Samsung Electronics has attracted criticism for not providing adequate shareholder returns despite their record-breaking profits earlier this year. Financial institutions seem to favor shareholder-friendly measures, in contrast to larger conglomerates that exhibit resistance.
Trump could woo North Korea after midterm setback, but Kim may not respond
Following an unfavorable midterm election, Trump may pivot towards foreign policy engagement with North Korea, as analysts suggest this could fortify his legacy. Nevertheless, the North seems disinclined to reciprocate Trump's overtures, and regional partners, including South Korea and Japan, are apprehensive about being excluded from talks with Kim Jong Un. The intricate dynamics of the situation are likely to hinder productive discussions moving forward.
South Korea eases leveraged investment rules to curb forced selling
South Korea has temporarily relaxed collateral requirements for securities firms to curb forced selling after a sharp stock market decline. The move aims to contain volatility, protect leveraged retail investors from forced liquidations and stabilise financial markets.
AI meltdown: Kospi crashes 9%, hits 9-month low as Wall Street bloodbath after midterm elections spills to Asia; circuit breaker triggered
The sell-off followed a global market rout on Thursday, which saw the Nasdaq 100 plunge 6.4%, wiping out a record $2.3 trillion in market value. The weakness extended across Asia on Friday, with chip-heavy indices coming under pressure. Japan's Nikkei 225 Stock Average and Taiwan's Taiex were also on course to enter technical bear market territory, having fallen 20% from their respective peaks.
South Korea stocks plunge 8%, circuit breaker triggered as chip shares tumble
South Korea's KOSPI stock index fell more than 8% during early trading on Friday, reflecting a significant sell-off. The stock market decline was primarily driven by losses in technology and semiconductor shares. As a result, a circuit breaker was activated by the Korea Exchange to halt trading temporarily. Experts indicated that the reaction may be an overreaction to recent US midterm election outcomes.
Emerging markets lose $33.8 billion in October as investors flee Asian stocks
October witnessed an alarming withdrawal of $33.8 billion by foreign investors from emerging markets, the largest since March. Almost all of this outflow consisted of equities, severely impacting Taiwan. While Emerging Asia grappled with major losses, Latin America encountered minimal setbacks amid election related volatility. Additionally, Chinese stocks continued to see foreign sell offs for the fifth consecutive month.
Trump's midterm defeat dims hopes of North Korea meeting
A meeting between Donald Trump and Kim Jong Un seems less likely following Trump's midterm election defeat. Analysts believe Kim has less incentive to engage with Trump in the current political environment. North Korea's leadership expresses reluctance to resume dialogue, citing distrust toward the US government. The ongoing nuclear ambitions of North Korea add complexity to potential negotiations between the two leaders.
Tesla misled South Korean customers about automated-driving tech, consumer group alleges
Tesla has marketed Full Self-Driving (Supervised) software to prospective buyers in South Korea for years, often collecting lump-sum payments of 9.043 million won ($6,726).
Tesla misled South Korean customers about automated-driving tech, consumer group alleges
Tesla is facing a consumer complaint in South Korea over allegedly misleading customers by selling its Full Self-Driving (FSD) software to buyers whose vehicles cannot legally use it. The software, which was sold for a one-time payment of 9.043 million won ($6,726), is compatible with only about 20% of Tesla cars registered in the country, mainly US-made models.
Andhra Pradesh beats Tamil Nadu to win Rs 1,614 crore investment from three Hyundai, Kia suppliers
Three South Korean automotive component manufacturers have committed to invest ₹1,614 crore in Anantapur, Andhra Pradesh. Hwashin, Seoyon, and Iwamet have signed MoUs with the state government for setting up facilities. The investments follow Andhra Pradesh's proactive efforts to attract global manufacturing investments. These projects are expected to create 1,418 jobs, enhancing the region's automotive manufacturing capabilities.
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