Seoul stocks jump nearly 2% on chips as won slips; Korea ordered to pay Elliott nearly $50M
Seoul stocks snapped a three-day losing streak with a nearly 2% gain on chip strength, while the won weakened against the dollar on higher-yield worries. Samsung's chairman appeared in London for a Korean art gala tied to the Lee Kun-Hee collection, and Korea was ordered to pay nearly $50 million to Elliott over the Samsung merger case.
Markets & chips
Korean markets & the won
Korea's main stock index closed up nearly 2%, ending a three-day losing streak on gains in chip shares.
Korean won
The won weakened against the US dollar amid lingering concerns over higher yields.
Samsung Electronics
Samsung's day spanned cultural sponsorship in London, a legal setback for the Korean government in the Elliott arbitration, and a planned AI glasses launch.
Samsung Electronics and the British Museum hosted a gala on Sept. 30 marking the opening of the "Korea" exhibition, showcasing works from the late Chairman Lee Kun-Hee's art collection after stops in Washington D.C. and Chicago.
Samsung's chief attended a Korean art gala in London alongside chip industry leaders.
Samsung Chairman Lee highlighted Korea-UK ties at the London gala.
Samsung plans to launch its first AI glasses in November, targeting competition with Meta.
Korea was ordered to pay nearly $50 million to Elliott over the Samsung merger case.
SK hynix
SK hynix said no decision has been made on a US IPO for Solidigm.
Business of culture
K-pop agencies
BLACKPINK's Rosé and CJ's Miky Lee were inducted into the Asian Hall of Fame.
Netflix in Korea
Netflix's "Take Charge of My Heart" revives the classic romantic-comedy formula.
"The Scandal" brings a "Dangerous Liaisons"-style story back to Netflix.