The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Apr. 15.
South Korea, U.S. to begin trade talks with focus on Alaska LNG project
South Korea and the United States are set to launch virtual talks within days on the Alaska LNG project, which Seoul sees as a potential entry point for broader negotiations aimed at easing U.S.-imposed tariffs. Acting President and Prime Minister Han Duck-soo said the two sides had agreed to strengthen cooperation in shipbuilding, LNG, and trade balance, following his recent phone call with President Donald Trump. The U.S. has temporarily delayed reciprocal tariffs targeting 57 countries, creating a window for negotiation. While South Korea has not committed to investing in the $44 billion Alaska project, officials are exploring LNG imports as a strategic alternative to help address trade imbalances and avoid financial risk.
Hyundai Motor Group taps former U.S. congressman to lead Washington office
Hyundai Motor Group announced on Apr. 15 that former U.S. Congressman Drew Ferguson will head its Washington Office starting May 1. A four-term Republican from Georgia with close ties to the Trump administration, Ferguson is expected to bolster the group’s engagement with the U.S. government and Congress. Known for championing domestic manufacturing and tax reform, he has also been actively involved in shaping Republican industrial policy. His appointment reflects Hyundai’s intent to strengthen policy responsiveness in the U.S., particularly as he is familiar with the group’s operations in Georgia, home to its major production facilities.
South Korean defense and shipbuilding stocks rally on global demand and U.S. policy signals
South Korean defense and shipbuilding stocks have seen a sharp rise in recent weeks, fueled by solid earnings momentum and favorable geopolitical trends. Hanwha Aerospace climbed to become the seventh-largest company on the Korea Exchange by market capitalization, jumping to $26.1 billion as of Apr. 14. Defense peers Hanwha Systems and LIG Nex1 also posted strong gains, buoyed by rising global military spending amid shifting U.S. security commitments. Shipbuilding stocks surged as well, with HD Hyundai Heavy Industries moving into the top 10 by market value following remarks by U.S. President Donald Trump suggesting potential purchases from allied shipbuilders. Other notable movers include HJ Shipbuilding & Construction, up 39.8%, and Hanwha Ocean, up 19.3% this month.
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