Lee Kang-deok says that the 50% U.S. tariffs have devastated the steelmaking hub of Pohang and that President Donald Trump risks alienating key allies such as South Korea and Japan.

South Korean auto and shipbuilding stocks rallied Thursday after Seoul and Washington finalized a trade deal announced back in July. Hanwha Ocean spiked as much as 14.9% while Samsung Heavy Industries climbed 8.33% at its peak. Defense product maker Firstec also rose as much as 9.7%.

Seoul and Washington reached a trade deal during U.S. President Donald Trump's visit to South Korea, lead policy official Kim Yong-beom said Wednesday.

Donald Trump has said he has given South Korea permission to build nuclear-powered submarines in Philadelphia, in an announcement that could rattle China as the US president prepares to meet Xi Jinping.

Trump’s announcement was short on detail but came a day after he finalized a trade deal with South Korea that includes a pledge of $350 billion in investment.

Korean skincare or "K-beauty" products are very popular around the world. But as exports from South Korea hit $10.3bn (£7.7bn) last year, cosmetics companies in other countries have introduced their own K-beauty ranges that are not Korean-made. Does this blurring of the definition matter?

President Trump lamented not being able to speak with Mr. Kim, the North Korean leader, but vowed to end the decades of hostilities between the two Koreas.

The U.S. inked Technology Prosperity Deals (TPD) with Japan and South Korea with an eye towards spurring collaboration on AI, semiconductors, quantum computing, biotech, space, 6G and other technologies.