Chip rout deepens as KOSPI heads for worst October in years
Korean chip stocks suffered their sharpest weekly decline since 2008, and KOSPI is facing its worst October rout with dip buyers apparently exhausted. Analysts polled expect the Bank of Korea to keep its benchmark rate unchanged at its upcoming meeting.
Markets & chips
Korean markets & the won
With the benchmark rate decision approaching, attention is on whether the Bank of Korea responds to the equity selloff.
The Korea Times reports that the KOSPI's steep October slump is compounded by a lack of dip buyers.
A poll of analysts forecasts the Bank of Korea will leave its benchmark rate unchanged at its upcoming meeting.
Samsung Electronics
The Korea Herald reports the two chipmakers suffered their sharpest weekly share decline since 2008.
Samsung is putting $22.8 million into Texas workforce development as TSMC looks to enter the state.
Korean chipmakers
An expert told The Korea Times that Musk's criticism of Samsung and SK hynix memory chip pricing runs counter to market logic.
The Korea Herald reports CXMT is advancing into next-generation DRAM, with questions over whether it can compete on cost.
Business of culture
K-pop agencies
A Seoul shop is giving away K-pop albums by repurposing fan waste, The Korea Herald reports.