In the span of 24 hours last week, President Trump managed to roil both South Korea and Japan, two longtime allies that less than two months earlier had said they would invest a combined nearly $1 trillion in the United States in exchange for lower tariffs, the New York Times reported. Last Thursday, U.S. immigration officials raided the construction site of a major Hyundai-LG plant in Georgia, a flagship project by two of South Korea’s most prominent companies.

South Korea's negotiations to finalise a U.S. trade deal are being held up due to foreign exchange issues and Seoul has asked Washington to help find a way to cap any market impact from a $350 billion investment package, a senior presidential official said on Tuesday, Reuters reported. The delay in striking a final deal comes after U.S. President Donald Trump last week signed an executive order to implement Japan's trade deal, which includes a $550 billion investment package.

South Korea's central bank expects a "significant" economic shock from higher U.S. tariffs even after a trade deal, it said on Thursday, citing comparably steeper tariff hikes versus rival exporters and high exposure to product-specific duties, Reuters reported. "Despite a comparably successful negotiation, the average tariff rate the U.S. imposes on our country rose greatly to around 15%, from zero tariffs under the previous Korea-U.S. Free Trade Agreement," the Bank of Korea (BOK) said in a report.

A top South Korean official said on Monday that the U.S. and South Korea had decided to establish a non-binding agreement to define the operation and structure of $350 billion in investment funds agreed as part of a July trade deal, Reuters reported. Seoul agreed with Washington last month on a trade deal to cut U.S. tariffs in exchange for pledging the investments, though differences emerged on how the sides interpreted details of the plan, including how profits would be distributed.

According to the Ministry of Land, Infrastructure and Transport, a total of 309 closures of comprehensive construction companies in South Korea were reported from January to July this year, Chosun Biz reported. This marks an increase of 4.74% compared to the same period last year (295 cases). This means that, on average, about 1.5 construction companies have closed each day this year. Looking at the number of closure reports from comprehensive construction companies on an annual basis, the figure increased from 170 in 2022 to 360 in 2023, and then decreased to 295 last year.

As Yeochun NCC faces a default crisis due to a conflict over operational funding with Hanwha Solutions and DL Chemical, which each hold a 50% equity stake, the price of Yeochun NCC’s corporate bonds has also plunged, Chosun Biz. According to the Korea Exchange as of this morning, the corporate bond Yeochun NCC78 was traded at 9,000 won. This marked a decrease of 1,070.4 won from the previous trading day.

South Korea will prepare measures to help companies cope with higher U.S. tariffs and expand into new markets, the Finance Ministry said on Tuesday, as it kicked off a task force to prepare the new administration's economic policy plans, Reuters reported. On the domestic front, the government will come up with measures to boost short-term demand, as well as financial support for mid- to long-term technology development to enhance market competitiveness, it said in a statement. South Korea reached a trade deal with the U.S.

Three cabinet-level South Korean officials met U.S. Commerce Secretary Howard Lutnick in Washington for trade talks, Seoul said on Wednesday, as top business leaders were also reported to be flying in to help lobby for a deal on U.S. tariffs, Reuters reported. South Korean Finance Minister Koo Yun-cheol joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo, who have been in Washington since last week, for two hours of talks with Lutnick, a ministry spokesperson said in Seoul. The finance ministry spokesperson did not offer details of the discussions. U.S.

President Trump’s trade agreement with Japan, announced this week, has intensified pressure on South Korea to cut a deal that doesn’t leave it at a disadvantage relative to its biggest rival in East Asia, the New York Times reported. Kim Jung-Kwan, South Korea’s industry minister, who arrived in Washington on Wednesday for negotiations, pledged an “all-out effort” to strike a deal by the Aug. 1 deadline to stave off a 25 percent tariff that the White House threatened in April and again this month. Moving forward, Mr.

South Korea's first-generation online video service (OTT) platform Watcha is in danger of going through corporate restructuring, Chosun Biz reported. This comes as Inlight Ventures, one of the investors, has requested court administration. Due to prolonged deficits, it has become difficult for the investor to recover the invested funds, prompting the creditor to directly request the restructuring process. Watcha plans to request the withdrawal of corporate restructuring through negotiations with investors. However, the situation is challenging.