South Korean stocks ended more than 1 percent higher Friday as investors' hopes for US rate cuts increased after the European Central Bank cut interest rates for the first time in almost five years. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 33.17 points, or 1.23 percent, to close at 2,722.67. Trade volume was heavy at 771.8 million shares worth 12.2 trillion won ($8.9 billion), with gainers outpacing losers 460 to 400. Foreign invest

South Korean stocks opened sharply higher Friday backed by gains of big-cap tech and financial shares. The benchmark Korea Composite Stock Price Index rose 38.36 points, or 1.43 percent, to 2,727.86 in the first 15 minutes of trading. Overnight, the US stock market closed mixed as investors remained cautious ahead of key jobs data to be released later in the day, which will likely set the tone for the Federal Reserve's rate policy. In Seoul, market bellwether Samsung Electronics gained 0.9

US insurance group Chubb is uniting its three Korean affiliates under the Lina brand, seeking to create synergies by integrating brand identities. Ace American Fire and Marine Insurance Company Korea, Chubb's general insurance subsidiary, announced Friday that it will rename its brand from Ace General Insurance to Lina General Insurance starting Saturday, aligning with Chubb Korea's other affiliates -- Lina Life Insurance and Lina One. "The unified 'Lina' brand embodies

KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corporate value through mid- to long-term asset management, asset growth strategies and shareholder return policies, according to the announcement. The boost plan will include monitoring of th

South Korean stocks closed almost flat Thursday as an increase in big-cap semiconductor shares was offset by hawkish tones in the latest minutes of the US Federal Reserve. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index edged down 1.65 points, or 0.06 percent, to close at 2,721.81. Trade volume was moderate at 421.6 million shares worth 11.3 trillion won ($8.3 billion), with losers beating winners 530 to 349. Individual investors and institutions un

South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street spooked by hawkish tones in the latest minutes of the US Federal Reserve. The benchmark Korea Composite Stock Price Index shed 15.57 points, or 0.57 percent, to 2,707.89 in the first 15 minutes of trading. In the United States, S&P 500 fell 0.3 percent, the Dow Jones Industrial Average lost 0.5 percent, and the tech-heavy Nasdaq Composite went down 0.2 percent as the Fed minutes showed the disappointment of i

Foreign holdings in South Korean banking groups' shares have surged to a record high, driven by government and corporate efforts to boost local stock values. Industry reports indicate that the average foreign ownership of shares in four major local finance groups -- KB, Shinhan, Hana and Woori -- reached 62.7 percent Friday, marking an all-time high. This figure reflects a 3.1 percent increase from the end of last year, significantly higher than the average 1 percent increase observed on Ko

From left: Blackstone Group CEO Stephen A. Schwarzman, KB Financial Group Chairman Yang Jong-hee and Financial Supervisory Service Gov. Lee Bok-hyun pose for a photo during a memorandum of understanding signing ceremony between the US alternative investment management firm and the Korean financial holding firm held in New York on Thursday. The two companies agreed to go beyond their current cooperation in alternative asset funds to expand their partnership by making joint investments in various

South Korean stocks opened almost flat Tuesday as investors awaited a key US inflation report set to be released later this week. The benchmark Korea Composite Stock Price Index gained 0.51 point, or 0.02 percent, to 2,727.72 in the first 15 minutes of trading. Overnight, the S&P 500 closed almost flat, while the Dow Jones Industrial Average fell 0.2 percent. The tech-heavy Nasdaq composite gained 0.3 percent. Investors' eyes are on the US Consumer Price Index data for April due out Wed

South Korean stocks ended almost flat Monday as investors were cautious ahead of the release of US inflation data set to be released later this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.42 point, or 0.02 percent, to 2,727.21. Trade volume was slightly heavy at 614.2 million shares worth 12.9 trillion won ($9.4 billion), with losers outpacing winners 481 to 380. Last week, the Dow Jones Industrial Average gained ground for the fourth c

South Korean financial services conglomerate Woori Financial Group is seeking to diversify its business portfolio beyond banking in an apparent move to take on its bigger rivals here. Among the nation’s top four financial groups, Woori has long remained the smallest in terms of sales. Last year, Woori was the only one to post less than 3 trillion won ($2.2 billion) in earnings, with its net profit standing at 2.51 trillion won. KB, the No. 1 financial group, recorded 4.63 trillion won in n

South Korean stocks opened higher Monday while investors remained watchful over mixed signals for the US Federal Reserve's future monetary policy. The benchmark Korea Composite Stock Price Index rose 9.42 points, or 0.35 percent, to 2,737.05 in the first 15 minutes of trading. Last week, the Dow Jones Industrial Average gained ground for the fourth consecutive week, and the S&P 500 and the tech-heavy Nasdaq posted increases for the third straight week. But on Friday, Wall Street closed

South Korean stocks fell slightly Thursday following the US Federal Reserve's decision to hold the key rate flat. The Korean won rebounded against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.41 points, or 0.31 percent, to 2,683.65, ending the three-session winning streak that started last Friday. Trade volume was slim at 342.7 million shares worth 8.9 trillion won ($6.5 billion). Decliners outnumbered gainers 513 to 357. Individual and foreign investors bought a ne

KB Financial Group Chairman Yang Jong-hee (front row, fourth from left), KB Kookmin Bank CEO Lee Jae-keun (second row, second from left), KB Securities co-CEOs Kim Seong-hyun (front row; seventh from left) and Lee Hong-ku (second row; fifth from left), along with actress Lee Young-ae (front row; third from left), pose for a photo during the inauguration ceremony for the second branch of "KB Gold&Wise the First," KB’s premium banking and asset management brand, in Banpo, south

More than 250 startup companies have joined KB Financial Group’s accelerator program over the past 10 years to scale up businesses into unicorns in the fintech industry. KB Financial Group held an event on Tuesday marking the 10th anniversary of the KB Innovation HUB Center, the first organization dedicated to fostering and supporting startups in the financial sector. Since KB Innovation HUB Center’s inception in 2015, the group launched its startup accelerator program, KB Starters