South Korean Presidential Chief of Staff Kang Hoon-sik expressed regret on the 7th via Facebook over Hanwha Ocean's loss in Canada's submarine acquisition project (CPSP), stating the outcome will serve as a milestone opening doors to other opportunities. Canadian Prime Minister Mark Carney announced on the 6th (local time) at Halifax Naval Base that Germany's ThyssenKrupp Marine Systems (TKMS) was selected as the preferred bidder. Kang, who served as presidential special envoy during the bid pro
The USD-KRW exchange rate closed at 1,530.00 won at 6 AM on May 7, up 4.40 won from 1,525.60 won at 3:30 PM on May 3, as Seoul's foreign exchange market operated its first 24-hour trading session. The pair reduced intraday gains following global dollar movements. Upward momentum was limited by weakened custody buying related to foreign selling of Korean stocks and market caution over authorities' smoothing operations, while the dollar index traded around the 100.8 level. USD-KRW Reaches Intraday