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Hyundai Development wins bid for Asiana stake

SEOUL: South Korean builder Hyundai Development Co said its consortium has been picked as the preferred bidder for a controlling stake in Asiana Airlines and would inject over US$1.7bil into the debt-ridden carrier.

A record US$173bil flowing from S. Korea into risky assets

SEOUL: A hunt for yield is prompting South Korean investors to pile tens of billions of dollars into unconventional assets abroad, raising risks of losses on unfamiliar products.

Japan steelmakers cut profit forecast as weak Asian markets trim margins

TOKYO: The top three Japanese steelmakers reduced their annual profit forecasts this month as slumping steel prices in Asia eroded their export margins while slower auto demand overseas and falling usage in machinery at home forced them to cut output.