Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Bolivia Orders Pre-Trial Detention of Former President Luis Arce Over Embezzlement Probe 
Hong Kong Democratic Party Disbands After Member Vote Amid Security Crackdown 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Thailand Vows Continued Military Action Amid Cambodia Border Clash Despite Trump Ceasefire Claim 
Israeli Airstrike in Gaza Targets Senior Hamas Commander Amid Ceasefire Tensions 
Thousands Protest in Brazil Against Efforts to Reduce Jair Bolsonaro’s Prison Sentence 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Ukraine’s NATO Concession Unlikely to Shift Peace Talks, Experts Say 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
U.S. Lifts Sanctions on Brazilian Supreme Court Justice Amid Shift in Brazil Relations 
South Korea announced plans to significantly increase subsidies for electric vehicles next year, aiming to support its auto sector as it faces ongoing challenges from U.S. trade tariffs. According to a government statement released on Friday, passenger EV subsidies will rise by 20% to 936 billion won ($658 million) in 2026, up from 780 billion won this year. Officials say the boost is intended to stimulate domestic demand and help manufacturers stay competitive in a shifting global market.
The government also outlined broader measures designed to strengthen the country’s automotive supply chain. Auto parts suppliers will receive expanded policy financing, surpassing the more than 15 trillion won provided in 2025. In addition, South Korea plans to reinforce its guarantee programs for parts makers operating abroad, especially in key markets such as the United States and Mexico. These guarantees will allow companies to secure long-term, low-interest loans, easing financial burdens as trade uncertainties persist.
South Korea’s auto industry remains one of the pillars of its economy, exporting $70.8 billion worth of vehicles in 2024—more than 10% of the nation’s total exports. Major automakers Hyundai Motor and Kia, which together form the world’s third-largest auto group by sales, have been hit hard by a 25% U.S. tariff on imported vehicles. Although Washington and Seoul recently agreed to lower that tariff to 15%, the updated rate has yet to take effect because the two governments have not released an official joint fact sheet outlining the new trade and security agreement.
Despite a public announcement by U.S. President Donald Trump and South Korean President Lee Jae Myung confirming the deal, no written documentation has been shared more than two weeks later. South Korean Foreign Minister Cho Hyun has urged U.S. Secretary of State Marco Rubio to expedite the release of the fact sheet, according to a Yonhap News report from the G7 foreign ministers’ meeting in Canada.
The government’s latest support package underscores growing urgency to protect South Korea’s auto industry as global competition intensifies and trade negotiations remain unresolved.
