Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Seoul shares end tumultuous week with modest gains
South Korean stocks ended slightly higher Friday, led by steel shares, as investors took a breather amid concerns over aggressive monetary tightening by major economies and following sessions of great fluctuations in battery shares. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 4.51 points, or 0.17 percent, to close at 2,608.32, the second consecutive gains. Trading volume was a bit heavy at 495.38 million shares worth 16.5 trillion won ($12
July 28, 2023
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Seoul shares open lower on US losses, profit taking
South Korean stocks opened lower Friday, led by declines in big-cap tech shares on profit taking after an overnight fall on Wall Street. The benchmark Korea Composite Stock Price Index lost 9.8 points, or 0.38 percent, to 2,594.01 in the first 15 minutes of trading. US stocks closed lower despite the stronger-than-expected economic growth in the second quarter. The Dow Jones Industrial Average lost 0.67 percent, snapping a 13-day winning streak, and the tech-heavy Nasdaq Composite fell 0.55 perc
July 28, 2023
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Seoul shares end higher on chip rally
South Korean stocks ended higher Thursday, as chipmakers surged on hopes for a business turnaround and investors digested the Federal Reserve's latest interest rate hike. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 11.45 points, or 0.44 percent, to close at 2,603.81. Trading volume was heavy at 585.77 million shares worth 23.79 trillion won ($18.62 billion), with gainers outpacing losers 729 to 174. The index moved within a tight rang
July 27, 2023
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Number of trading firms tumbles in 2022 amid economic uncertainties
The number of trading firms in South Korea moved down 0.7 percent in 2022 from a year earlier, data showed Thursday, as economic uncertainties hampered business activities. Asia's fourth-largest economy had 251,246 trading companies last year, down 1,812 from 2021, according to the data from the Korea Customs Service. The value of their trade, however, jumped to a record high of $132 billion, advancing 10.8 percent over the period. The number of exporters moved up 0.4 percent on-year to 95,
July 27, 2023
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Seoul shares open higher after Fed rate hikes
South Korean stocks opened slightly higher Thursday, as investors digested the Federal Reserve's latest interest rate hike and corporate earnings reports. The benchmark Korea Composite Stock Price Index added 6.39 points, or 0.25 percent, to 2,598.75 in the first 15 minutes of trading. On Wednesday, the Fed raised interest rates by a much-anticipated quarter of a percentage point to the 5.25 percent to 5.50 percent range, the highest level in more than 22 years. Chair Jerome Powell suggeste
July 27, 2023
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Mastern America, BuildBlock join hands to expand presence in US commercial development market
Mastern America, the US arm of Mastern Investment Management, said Wednesday it has joined hands with real estate platform operator BuildBlock to expand its presence in the US commercial development market. The two firms recently signed a memorandum of understanding to bolster their ties and cooperate on diverse investment projects. BuildBlock is a real estate platform operating in major cities and regions in the US, including Silicon Valley, Los Angeles, Hawaii, New York and Texas. The plat
July 26, 2023
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End of IPO drought?
Expectation for end of interest hikes and IPO market reform to boost slowed listing activities The initial public offering pipeline for the second half of the year appears to be strong, with high-profile companies, including a fabless chip startup and a battery material maker, pushing for their listings on the Korean stock market to raise equity capital amid relaxed IPO rules. The IPO market here remained sluggish in the first half of the year due to deteriorating investor sentiment on the
July 26, 2023
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Seoul shares end 3-day rise ahead of Fed decision
South Korean stocks ended markedly lower Wednesday, led by tech losses, as investors took a breather after three days of gains, awaiting the Federal Reserve's interest rate decision. The local currency advanced against the US dollar. The benchmark Korea Composite Stock Price Index fell 44.10 points, or 1.67 percent, to close at 2,592.36. Trading volume was heavy at 825.02 million shares worth 36.01 trillion won ($28.23 billion), with losers far outpacing gainers 871 to 50. The index moved w
July 26, 2023
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Seoul shares open tad lower ahead of Fed decision
South Korean stocks opened slightly lower Wednesday, following three days of gains, as investors are digesting corporate earnings reports and awaiting the rate-setting meeting in the United States. The benchmark Korea Composite Stock Price Index lost 4.24 points, or 0.16 percent, to 2,632.22 in the first 15 minutes of trading. Overnight, US stocks closed higher. The Dow Jones Industrial Average grew 0.08 percent, and the tech-heavy Nasdaq Composite added 0.61 percent. The Federal Reserve began a
July 26, 2023
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Seoul shares up for 3rd day on China stimulus, fed hope
South Korean stocks ended higher Tuesday, led by steel and chemical companies, as investor sentiment was boosted by China's economic stimulus plan and hopes for an end to the United States' aggressive monetary tightening. The local currency advanced against the US dollar. The benchmark Korea Composite Stock Price Index added 7.93 points, or 0.3 percent, to close at 2,636.46, the third consecutive rise. Trading volume was a bit heavy at 713.46 million shares worth 18.85 trillion won ($1
July 25, 2023
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Seoul shares open higher ahead of Fed meeting, earnings reports
South Korean stocks opened slightly higher Tuesday, tracking overnight Wall Street gains, as investors are awaiting quarterly earnings reports by major companies and the rate-setting meeting in the United States. The benchmark Korea Composite Stock Price Index added 2.79 points, or 0.11 percent, to 2,631.32 in the first 15 minutes of trading. Overnight, US stocks closed higher in the run-up to the Federal Reserve's policy meeting this week. The Dow Jones Industrial Average grew 0.52 percent
July 25, 2023
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Seoul shares rise on strong battery, steel performance
South Korean stocks ended higher Monday as major battery and steel shares rose sharply amid expectations for further industry growth, with a focus on corporate earnings and the United States' upcoming rate-setting meeting. The local currency advanced against the US dollar. The benchmark Korea Composite Stock Price Index added 18.77 points, or 0.72 percent, to close at 2,628.53, the second consecutive rise. Trading volume was a bit heavy at 522.67 million shares worth 18.81 trillion won ($14
July 24, 2023
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Seoul shares open lower ahead of corporate earnings reports
South Korean stocks opened lower Monday, as big-cap tech shares lost ground ahead of the release of major corporate earnings reports. The benchmark Korea Composite Stock Price Index shed 11.49 points, or 0.44 percent, to 2,598.27 in the first 15 minutes of trading. Investors are awaiting the quarterly results of major companies this week, including chip giants Samsung Electronics and SK hynix. Eyes are also on the Federal Reserve's two-day rate-setting meeting set to begin Tuesday, where th
July 24, 2023
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Seoul shares end slightly higher on individual buying
South Korean stocks finished slightly higher Friday on strong individual buying amid a slump in the semiconductor sector. The local currency sharply lost ground against the US dollar. Despite a weak start, the benchmark Korea Composite Stock Price Index added 9.53 points, or 0.37 percent, to finish at 2,609.76. Trading volume was moderate at 491.8 million shares worth 12 trillion won ($9.3 billion), with decliners outpacing gainers 507 to 353. Retail investors scooped up a net 316.6 billion won
July 21, 2023
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SK Chemicals shares soar on AstraZeneca deal
Shares of SK Chemicals soared sharply Friday, a day after the chemicals and drug developer announced that it signed a contract manufacturing deal for British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca’s diabetes medicines. Its shares started at 79,800 won ($62.27) as of 9 a.m., a 23 percent jump from the previous trading day. In the afternoon, the stocks were traded slightly lower at 72,200 won, still up around 11 percent from a day ago. In its regulatory fi
July 21, 2023
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EcoPro highly likely to make MSCI index in August: analysts
South Korean battery materials company EcoPro, the red-hot stock in the nation’s secondary tech-laden Kosdaq, is highly likely to be included in the MSCI Korea Index in August, Samsung Securities wrote in a recent report published Friday. EcoPro is a holdings firm with units EcoPro BM and EcoPro HN under its wings. Running high on the recent electric vehicle boom, the cathode materials maker saw its shares soar to a record high of 1.14 million ($890.28) Wednesday, almost a 10-fold jump fro
July 21, 2023
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Seoul shares open lower on US rate hike woes
South Korean stocks started lower Friday as investors took a cautious stance amid strong US jobs data. The benchmark Korea Composite Stock Price Index fell 24.37 points, or 0.94 percent, to 2,575.86 in the first 15 minutes of trading. Overnight on Wall Street, the Dow Jones Industrial Average gained 0.47 percent, while the tech-heavy Nasdaq Composite tumbled 2.05 percent. The latest US Labor Department data showed that weekly jobless claims fell again last week, suggesting the Federal Reserve wi
July 21, 2023
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Seoul shares end lower amid rate hike worries
Seoul shares ended lower Thursday, bucking gains on Wall Street, as investors remain cautious on whether the US Federal Reserve will raise rates further to tame inflation. The South Korean won fell against the dollar. The benchmark Korea Composite Stock Price Index fell 8.01 points, or 0.31 percent, to close at 2,600.23. Trading volume was moderate at 362.59 million shares worth 9.3 trillion won ($7.3 billion), with gainers outpacing decliners 446 to 417. Institutions sold a net 319 billion won
July 20, 2023
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Seoul shares open lower amid rate hike woes
Seoul shares opened lower Thursday, bucking gains on Wall Street, as investors remain concerned over the US Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index fell 15.79 points, or 0.61 percent, to 2,592.45 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average inched up 0.31 percent to 35,061.21 points, and the tech-heavy Nasdaq Composite gained 0.03 percent to 14,358.02. Investors see no major risk of recessi
July 20, 2023
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Seoul shares end almost flat amid rate woes
Seoul shares ended almost flat Wednesday as investors remain watchful on whether the Federal Reserve will continue its aggressive rate hikes this year to tame inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.62 points, or 0.02 percent, to close at 2,608.24. Trading volume was moderate at 433.9 million shares worth 11 trillion won ($9.5 billion), with decliners outpacing gainers 599 to 272. Institutions and foreigners offloaded a combine
July 19, 2023