Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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Allegations surrounding BTS resurface, enraged fans demand apology
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Queen of Tears' riding high on Netflix chart
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Chip up cycle won’t stay long: SK chief
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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Hyundai Motor Group returns to W100tr club
The combined market capitalization of Hyundai Motor Group affiliates surpassed the 100-trillion won ($85.9 billion) mark last week on the back of market expectation on its strength in green vehicle technology, data showed Monday. As of Thursday, the auto giant‘s 12 listed affiliates had a combined market capitalization of 100.2 trillion won, re-entering the 100-trillion-won club for the first time in 28 months, according to the Korea Exchange. Of the total, the combined market va
Sept. 21, 2020
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Seoul stocks open tad higher on chip, auto gains
South Korean shares opened a tad higher Monday, led by chip and auto gains on the main bourse. The Korea Composite Stock Price Index (KOSPI) rose 5.67 points, or 0.24 percent, to 2,418.07 in the first 15 minutes of trading. Market bellwether Samsung Electronics added 0.51 percent, with No. 2 chipmaker SK hynix advancing 0.84 percent. Hyundai Motor, the country's largest automaker, jumped 3.59 percent, and its smaller affiliate Kia Motors leaped 3.97 percent. Internet portal giant Naver ga
Sept. 21, 2020
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[Herald Interview] Korea Investment & Securities pioneers AI-powered stock analysis
Customer service chatbots and investment robo-advisers have been in place for a while in South Korea, but Korea Investment & Securities recently kicked finance’s use of artificial intelligence up a notch with automatically generated reports for investors. The leading brokerage launched “AIR” or AI Research -- the first local AI-based investment reports -- in July. It is a service Yun Hee-do, head of research at KIS, thinks will help keep the firm competitive by enabling
Sept. 20, 2020
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Banks’ credit loans see sudden drop amid authorities’ warnings
Major South Korean banks are on the path of tightening their extension of personal unsecured loans, apparently responding to the financial authorities continued efforts to curb “excessive lending.” Outstanding personal loans extended by five major lenders here -- KB Kookmin, Shinhan, KEB Hana, Woori and NH NongHyup -- fell to 126.9 trillion won as of Thursday, down 243.6 billion won ($209.3 million) from the previous day, data showed Sunday. This marked a sharp turn from the extend
Sept. 20, 2020
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[Market Close-up] Retail investor power brings stock market back to life
Six months after plunging to a record low amid the COVID-19 pandemic, South Korea’s stock indicators are apparently experiencing a full recovery, hitting fresh yearly highs mostly on the back of retail investors. According to the country’s bourse operator, the Korea Exchange, the benchmark Kospi as of Friday marked a 65.50 percent rise from the record-low 1,457.64 observed six months earlier. The secondary Kosdaq soared 107.51 percent from 428.35 during the same period. Buttressi
Sept. 20, 2020
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Seoul stocks advance 65% over past 6 months led by bio, tech
South Korea's stock market advanced a whopping 65 percent over the past six-month period despite the global virus pandemic, on the back of pharmaceutical and technology shares, data showed Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) on Friday ended at 2,412.40 points, up 65.5 percent from six months ago, according to the main bourse operator Korea Exchange (KRX). The country's stock rally marked the second-highest rise among G-20 countries, following Argentina's 87 percent
Sept. 20, 2020
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Seoul to accept applications for low-rent office space in Yeouido
The Seoul Metropolitan Government said Friday that it is scheduled to accept new applicants for a program that offers office space for foreign financial firms at affordable prices in Yeouido, a financial hub in the city. The municipal government plans to run the Seoul International Financial Office on the 16th floor of the One IFC building. Eligible applicants include foreign or South Korean financial institutions, and finance-related international organizations or nonprofit corporations enter
Sept. 18, 2020
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LG Chem stocks rebound as split-off jitters ease
The stock price of petrochemical-to-battery company LG Chem rebounded Friday after a sharp loss immediately after its announcement during trading hours Thursday that it would split off its battery operation. LG Chem shares climbed 3.3 percent in the Friday trading session. LG Chem is the fifth-largest stock on the main bourse, Kospi, with 47.1 trillion won ($40.6 billion) market cap. The slight recovery came after the Seoul-based company unveiled plans to carve out its battery unit under a ne
Sept. 18, 2020
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Seoul stocks snap two-day losing streak on massive foreign buying
South Korean stocks snapped a two-session losing streak on Friday, helped by strong foreign buying that offset individuals' profit-taking rush. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.23 points, or 0.26 percent, to close at 2,412.40. Trading volume was moderate at about 744 million shares worth some 13.7 trillion won ($11.8 billion), with losers outnumbering gainers 433 to 416. After a 1.22 percent drop in the previous session
Sept. 18, 2020
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Military Mutual Aid Association shows outstanding return-on-asset performance
The Military Mutual Aid Association, which provides pension services for military personnel, has been the most profitable mutual aid association in South Korea for the past three years, business data tracker CEO Score Daily said Friday. Currently, the nation has seven large mutual aid associations, including the Public Officials Benefit Association, the Korea Local Finance Association, the Police Mutual Aid Association and the Korean Teachers’ Credit Union. The MMAA’s return on
Sept. 18, 2020
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Shinhan BNP Paribas vows climate action through asset management
South Korean asset manager Shinhan BNP Paribas Asset Management said Friday that it would beef up efforts to take climate change into account in its asset management business, as part of its green finance and impact investing. Under its climate action declaration released Friday, the joint venture of Shinhan Financial Group and BNP Paribas Asset Management will consider the impact its investment decisions and financial products could have on climate change. It is the first such declaration in
Sept. 18, 2020
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Seoul stocks open higher on battery, bio rebound
South Korean stocks opened higher Friday, led by a rebound in battery and bio heavyweights. The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.25 percent, to 2,412.2 in the first 15 minutes of trading. The KOSPI rebounded after the index lost 1.22 percent in the previous session. Battery and biopharmaceutical large caps fared strong, while auto-related shares dipped.Leading chemical company LG Chem jumped 2.33 percent, a day after it announced its decisi
Sept. 18, 2020
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IOC welcomes Kyobo chairman as head of Youth Olympic committee
The International Olympic Committee has sent a congratulatory letter to life insurance firm Kyobo Life Chairman Shin Chang-jae, who has been appointed as the organizing chief for the Gangwon 2024 Winter Youth Olympic Games. While congratulating Shin’s appointment, Thomas Bach, the IOC president, expressed expectations for the quadrennial global sports event, which is scheduled to be held in Gangwon Province. “Considering the chairman’s contributions to youth sports and cult
Sept. 17, 2020
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Individual investors pour W100tr into stocks during pandemic
The amount of money local retail investors have poured in the local and overseas stock markets has reached more than 100 trillion won ($85.2 billion), according to data released by the nation’s sole securities operator Korean Exchange on Thursday. Individual traders bought a total of 55.9 trillion won in the local market this year as of Wednesday. Of the total, 43.5 trillion won went to the main bourse Kospi, and the rest, or 12.4 trillion won, to the tech-heavy Kosdaq. Investor deposit
Sept. 17, 2020
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KB Financial chief vows to boost shares via strong portfolio
KB Financial Group Chairman Yoon Jong-kyoo, who is likely to keep his role for another three-year term, pledged Thursday to boost the firm’s shares with a strong and versatile portfolio. “As you can see, KB’s shares have remained at a disastrous level for some time, which reflects concerns surrounding South Korea’s economy and finance coupled with doubts about traditional institutions’ competitiveness in the contactless era,” Yoon told reporters on his way to
Sept. 17, 2020
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[Market Close-up] Pandemic polarizes risk appetite in real estate investment
Representatives of South Korean institutional investors said Tuesday they were increasingly tapping into distressed asset classes in their capital deployment to real estate assets, as the novel coronavirus disruption in the market is upping the appetite for the two extremes: very safe and very risky. The so-called “barbell strategy” is playing out to fight the downside impact of COVID-19, amid heightening pressure to deploy capital, institutional investors said during PERE Investor
Sept. 17, 2020
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Seoul stocks dip over 1% on profit-taking
South Korean stocks decreased more than 1 percent Thursday, as more investors turned to profit-taking that stemmed from tech valuation concerns. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 29.75 points, or 1.22 percent, to close at 2,406.17. Trading volume was moderate at about 834 million shares worth some 13.9 trillion won ($11.8 billion), with losers outnumbering gainers 655 to 200. Foreigners sold a net 126 billion won, whil
Sept. 17, 2020
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FSS to allow full-time connection to internal network at financial firms
To facilitate remote working amid the prolonged COVID-19 pandemic, the nation’s financial watchdog will ease restrictions on external access to network systems at local financial companies. The Financial Supervisory Service said Thursday it would allow employees to stay connected to the company’s internal communication software throughout the day by revising the regulations on the supervision of electronic finance, which stipulate the so-called “network separation syst
Sept. 17, 2020
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Foreign currency deposits hit new high in Aug.
Foreign currency deposits at banks in South Korea touched a new all-time high in August as companies boosted dollar holdings, central bank data showed Thursday. Outstanding foreign currency-denominated deposits held by residents came to $88.5 billion as of end-August, up $1.14 billion from the previous month, according to the data from the Bank of Korea (BOK). The August amount was the largest tally since the central bank began to compile related data in June 2012. Foreign currency deposits
Sept. 17, 2020
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Seoul stocks open lower on Wall Street losses
South Korean stocks opened lower Thursday, taking a cue from overnight losses on Wall Street that stemmed from tech valuation concerns. The benchmark Korea Composite Stock Price Index fell 11.69 points, or 0.58 percent, to 2,424.23 in the first 15 minutes of trading. Despite the US Federal Reserve's signal to keep the near-zero rate till 2023, the local stock market remained bearish. The Nasdaq Composite retreated 1.25 percent to 11,050.47 points on Wednesday (New York time). The S&P 50
Sept. 17, 2020