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Finance

KOSPI jumps more than 2 percent to top 5,700; KOSDAQ also gains

South Korean stocks were rising on Tuesday, tracking a rebound in U.S. stock indexes and a decline in international oil prices. The KOSPI was up more than 2 percent, holding above 5,700 after opening higher. Retail investors were net buyers, while foreign and institutional investors were net sellers. Most heavyweight shares gained, including Samsung Electronics and SK Hynix. The KOSDAQ also advanced, while the won edged lower against the dollar.

Industry

Orion adds outside directors with customs and tax backgrounds amid strong overseas sales

Orion Group will strengthen its lineup of former officials as outside directors at annual shareholder meetings on March 26. Alongside existing appointees with backgrounds in the food safety regulator and prosecution, it will newly appoint former officials from the Korea Customs Service and the National Tax Service. With overseas business rising to 60 percent of total sales, the move is seen as aimed at strengthening its ability to respond to tax matters.

AI & Enterprise

Saltware named Red Hat premier partner

AI cloud services company Saltware said on March 17 it has been selected as a Red Hat premier partner. Red Hat partners provide system building and operations services for corporate and public-sector customers based on Red Hat technologies. Premier partner is Red Hat’s top-tier status for companies with high technical capabilities and delivery systems. Saltware said it earned the rating about three years after starting cooperation with Red Hat.