South Korean stocks finished lower Wednesday with investors waiting for the release of the minutes of the US Federal Open Market Committee's January meeting. The local currency rose against the US dollar. After starting marginally higher, the benchmark Korea Composite Stock Price Index lost 4.48 points, or 0.17 percent, to close at 2,653.31. Trade volume was moderate at 551.7 million shares worth 8.9 trillion won ($6.7 billion), with losers outnumbering winners 553 to 313. Foreigners and re

South Korean stocks started higher Wednesday on foreign and institutional buying despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index climbed 11.49 points, or 0.43 percent, to 2,669.28 in the first 15 minutes of trading. Overnight, the U.S. stock market lost ground on investors' profit-taking ahead of the earnings release of artificial intelligence chip leader Nvidia. Nvidia is expected to release strong fourth-quarter results later Wednesday thanks to co

A labor union comprising workers of four Samsung Group affiliates was officially launched Monday, as employees seek ways to break away from the unreasonable relationship between workers and management. Samsung Group United Union, representing Samsung Electronics' Device Experience division, Samsung Display, Samsung Fire & Marine Insurance, and Samsung Biologics, held an inauguration ceremony earlier in the day in Seoul. “Our purpose is to establish independence in the relations be

Three members of Samsung Group's founding family have sold their shares totaling 2.7 trillion won ($2 billion) in group affiliates, including Samsung Electronics, in an apparent bid to pay inheritance taxes. Samsung Electronics said in a regulatory filing Monday that Hong Ra-hee, the mother of Samsung Electronics Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation have unloaded a combined 29.8 million sha

Family members of Samsung Group plan to sell nearly 2.8 trillion won ($2.12 billion) worth of their shares in Samsung Electronics and other affiliates in a block deal in an apparent bid to pay inheritance taxes, industry sources said Wednesday. Hong Ra-hee, the mother of Samsung Electronics Co. Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation -- are pushing to unload a combined 29.8 million shares worth 2

South Korean stocks closed slightly higher Tuesday as investors remained cautious after a recent rally stemming from the US central bank's dovish stance. The local currency rose against the greenback. After choppy trading, the benchmark Korea Composite Stock Price Index gained 3.08 points, or 0.12 percent, to close at 2,602.59, ending the two-day losing streak. Trade volume was moderate at 429.4 million shares worth 9.4 trillion won ($7.26 billion), but decliners outnumbered gainers 491 to

The South Korean construction sector is anticipated to maintain its streak of surpassing $30 billion in overseas orders for the fourth consecutive year, approaching the government's target of reaching this year's $35 billion goal. The total overseas orders that Korean builders have received as of Dec. 15 this year amounted to $29.25 billion, according to the Ministry of Land, Infrastructure and Transport on Monday. The figure is a 7.2 percent increase from the $27.29 billion tallied in

Members of major conglomerate owner families generally become executives in their mid-30s, and assume leadership roles sometime in their early 40s, a report released Wednesday by a local corporate tracker showed. Leaders Index analyzed the careers of 199 members of owner families running South Korea's 100 leading conglomerates, who are either the chairman or vice chairman of their group, or a president of an affiliate company. In total, there are 827 members of owner families currently work

Samsung Medical Center has carried out the first successful uterus transplantation in South Korea. During the surgery in January this year, the multidisciplinary team were able to transfer the uterus to a 35-year-old woman with Mayer-Rokitansky-Kuster-Hauser Syndrome. MRKH is a rare disorder, which affects about 1 in 5,000 females at birth, characterized by an underdeveloped or absent uterus. A uterus transplant gives women without functioning wombs -- such as those with MRKH -- the opportunity

Family members of Samsung Group, South Korea’s biggest conglomerate, are selling stakes worth some 2.57 trillion won ($1.97 billion) to pay their inheritance tax bill, according to a regulatory filing on Monday. Hong Ra-hee, the widow of the late former Samsung Group Chairman Lee Kun-hee, and her two daughters, Lee Boo-jin and Lee Seo-hyun, signed a trust contract with Hana Bank to dispose of stakes worth about 2.57 trillion won combined, on Oct. 31. The Samsung heirs began their five-year

Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed Sunday. Since the death of late Samsung Chairman Lee Kun-hee in October 2020, his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won. According to the regulatory filing with the Fin

Deutsche Bank said Sunday that it will inject 150 million euros ($160 million) into its Seoul branch as part of its investment plan for the Asian market, with Korea as a strategic foothold. The German bank's decision to allocate additional capital to its Korean business underscores its confidence in the stability and growth potential of the market. "This additional capital, along with our recent reentry into the local debt capital market, will enable us to better support our clients�

Samsung Group is a "massive aircraft carrier" and so it needs a control tower for better efficiency and unity, the chief of the tech giant's compliance committee said in an interview with a local news outlet on Aug. 23. "A small sailing boat does not need a control tower, but Samsung is a giant aircraft carrier. Unless the company’s different divisions completely divide to stand on their own, the lack of a control tower can lead to problems in efficiency and unity,&rd

The new chairperson for the Federation of Korean Industries vowed that the business lobby group would prevent government-business collusion and push for a transparent corporate culture to “clean up the dark past” of a massive influence-peddling scandal it was embroiled in 2016. In its ad hoc general meeting held Tuesday, the lobby group appointed Ryu Jin, chairman of Poongsan Group, as the new chairperson of the FKI. The meeting was an arena where it announced the kick-starting of th

South Korea’s top four chaebol groups -- Samsung, SK, Hyundai Motor and LG -- are likely to rejoin the Federation of Korean Industries, the disgraced business lobby group that has remained practically defunct for years following the revelation of its role in a massive influence-peddling scandal in 2016. According to industry sources on Monday, key affiliates of the nation’s top conglomerates recently held board meetings to approve them rejoining the FKI. The latest decision comes a