Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Korea enters full election mode
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Seoul stocks up despite N. Korea's missile launch
South Korean stocks closed higher Friday, paring earlier losses fueled by geopolitical concerns, as institutional and individual buyers scooped up large-cap shares, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index added 8.41 points, or 0.35 percent, to close at 2,386.07. Trade volume was slim at 290 million shares worth 6.1 trillion won ($5.2 billion), with gainers slightly outnumbering losers 406 to 403.The Seoul index hand opened lower af
Sept. 15, 2017
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North Korean acts become like `Boy Who Cried Wolf' for markets
Traders are getting less excited by North Korean provocations, judging by the diminished reactions in financial markets to the dictatorship’s weapons tests.Consider the yen. A highly liquid instrument, it’s a haven in times of geopolitical or global financial stress so is perhaps the most sensitive asset to look at for immediate reaction to North Korean acts. The currency soared as much as 0.6 percent against the dollar within about a minute on Friday morning after the news Pyongyang
Sept. 15, 2017
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Seoul shares lower in late Wednesday morning trading
South Korean shares traded lower Friday morning amid a massive selling spree by foreigners and institutions after North Korea fired another ballistic missile earlier in the day.The benchmark Korea Composite Stock Price Index lost 8.69 points, or 0.37 percent, to 2,368.97 as of 11:20 a.m. Earlier in the day, the North launched a ballistic missile eastward from its capital, the country's first missile launch after the United Nations Security Council adopted a fresh sanctions resolution this w
Sept. 15, 2017
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Seoul stocks open lower on Pyongyang's missile launch
South Korean stocks opened lower Friday after North Korea fired another ballistic missile earlier in the day, further escalating geopolitical tension in the Northeast Asian region, analysts said.The benchmark Korea Composite Stock Price Index lost 6.67 points, or 0.28 percent, to 2,370.99 in the first 15 minutes of trading.Earlier in the day, the North launched a ballistic missile eastward from its capital, the country's first missile launch after the United Nations Security Council adopted a fr
Sept. 15, 2017
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KB Chairman Yoon looks set to win second term
Yoon Jong-kyoo, the chairman of KB Financial Group, looks set to win a second term, as the group’s chairman nomination committee on Thursday selected him as the sole candidate for the next leader. Yoon, who has held the post since 2014, became the sole candidate as two other rivals dropped out of the race. “A final decision on whether or not to recommend him to the directors’ board will be made after an in-depth interview on Sept. 26,” the group said in a press statement.
Sept. 14, 2017
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Seoul stocks end higher on tech, auto gains
South Korean stocks closed higher Thursday as investors scooped up large-cap tech and auto shares following overnight gains on Wall Street, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index added 17.48 points, or 0.74 percent, to 2,377.76. Trade volume was moderate at 283.1 million shares worth 6.3 trillion won ($5.8 billion), with losers slightly outnumbering advancers 403 to 397.The broad index opened higher taking a cue from overnight gai
Sept. 14, 2017
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[News Focus] Korea unshaken by bitcoin plunge, looming China crackdown
South Korea’s cryptocurrency exchanges largely appear unshaken despite the latest drop in bitcoin price fueled by the Chinese government’s reported plans to shut down domestic bitcoin exchanges, which experts here say would more likely stabilize, rather than stumble, the market. The Korea Composite Bitcoin Price, based on prices of a bitcoin in major exchanges in Korea’s Bithumb, Korbit and Coinone, came to 4,351,533 won ($3,842.1) as of 4 p.m. Thursday, down 5.9 percent
Sept. 14, 2017
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Seoul shares tad higher in late morning on Wall Street gains
South Korean stocks traded mildly higher late Thursday morning as individual investors scooped up large-cap tech shares, tracking overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index inched up 0.71 point, or 0.03 percent, to 2,360.89 as of 11:20 a.m.On Wednesday (local time), US stocks closed at fresh record highs, with the S&P 500 inching up 0.1 percent and the Dow gaining 0.2 percent. Most large caps traded mixed, with market kingpin Samsung Electronics addin
Sept. 14, 2017
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Brokerages scrimp on donations in H1 despite huge net
South Korean securities companies were stingy with their donations in the first half of the year despite a jump in earnings, a market tracker said Thursday.According to data from financial information provider FnGuide, 12 brokerage houses donated a combined 4.3 billion won ($3.8 million) to local charities in the January-June period, down 18 percent from a year ago.In contrast, their combined net profit more than doubled to slightly over 1 trillion won over the cited period, driven by a bullish
Sept. 14, 2017
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Seoul stocks open higher on Wall Street gains
South Korean stocks opened higher Thursday tracking overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 2.89 points, or 0.12 percent, to 2,363.07 in the first 15 minutes of trading. On Wednesday (local time), US stocks closed at fresh record highs, with the S&P 500 inching up 0.1 percent and the Dow gaining 0.2 percent.Most large caps on the Seoul bourse traded mixed, with tech shares leading the gain. Market bellwether Samsung Electronics added 0.85 per
Sept. 14, 2017
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POSCO, LG Chem shine during large-cap rally
South Korea's top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year's stock rally driven by large caps, data showed Thursday.POSCO's market capitalization stood at 29.1 trillion won ($25.8 billion) as of Wednesday, ranking fourth among the top 30 companies listed on the local stock market and rising five notches from the end of last year, according to the data by the Korea Exchange.POSCO trails the No. 1 automaker and third-biggest-ca
Sept. 14, 2017
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Seoul stocks end lower after choppy trading
South Korean stocks closed lower Wednesday, paring earlier gains, as individual and foreign buyers went on a selling spree, analysts said. The Korean won closed unchanged against the US dollar.The benchmark Korea Composite Stock Price Index lost 5.29 points, or 0.22 percent, to close at 2,360.18. Trade volume was moderate at 315 million shares worth 5.8 trillion won ($5.3 billion), with losers far outnumbering gainers 546 to 253.Institutional buyers purchased a net 41.2 billion won worth of shar
Sept. 13, 2017
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Refiners set to rebound on higher margins, tight supply
South Korean oil refiners, led by SK Innovation Co., traded higher Wednesday, after some small corrections in the past few days, on hopes that margin spreads on key products still run high and oil prices will remain high, industry sources said.SK Innovation, the No. 1 oil refiner, traded at 195,500 won ($177) on the Seoul bourse as of 1:40 p.m., up 2.09 percent, after touching a record high of 197,500 won at one point. No. 3 player S-Oil Corp. was quoted at 123,000 won, up 0.15 percent."The
Sept. 13, 2017
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Foreigners sell $3.25b of Korean stocks and bonds in Aug.
Foreign investors offloaded South Korean stocks and bonds worth $3.25 billion in August due to security jitters and profit-taking, the central bank said Wednesday.Foreign investors sold local stocks and bonds worth $1.33 billion and $1.91 billion, respectively, the Bank of Korea said.It marked the first sell-off by foreign investors since November 2016, when foreign investors offloaded South Korean stocks and bonds worth $490 million.Tensions spiked on the Korean Peninsula in August as North Kor
Sept. 13, 2017
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Seoul shares tad higher in late Wednesday morning trading
South Korean shares traded slightly higher late Wednesday morning as institutional buyers scooped up big cap stocks amid a massive selling spree by foreigners.The benchmark Korea Composite Stock Price Index inched up 1.73 points, or 0.07 percent, to 2,367.2 as of 11:20 a.m.The index initially opened lower on losses in market heavyweights despite overnight Wall Street gains. However, the local index pared earlier losses as most market heavyweights turned higher. Top cap Samsung Electronics a
Sept. 13, 2017
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Regulator to loosen restrictions on financial firms
South Korea's top financial regulator said Wednesday it will swiftly map out plans to loosen restrictions on financial firms, allowing them to easily make inroads into new businesses.Choi Jong-ku, chairman of the Financial Services Commission, made the remarks at a job fair for the financial industry. The official said the FSC will "fully review financial firms' business restrictions by sector and swiftly draw up measures for improvement." By revamping a system of granting licens
Sept. 13, 2017
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Seoul shares open tad lower despite Wall Street gains
South Korean stocks opened slightly lower Wednesday despite overnight Wall Street gains as both institutional and foreign investors offloaded local large caps, analysts said.The benchmark Korea Composite Stock Price Index inched down 2.56 points, or 0.11 percent, to 2,362.91 in the first 15 minutes of trading.On Tuesday (local time), the major Wall Street indexes hit record highs, with the S&P 500 Index adding 0.2 percent and the tech-heavy Nasdaq composite index gaining 0.12 percent.Large-c
Sept. 13, 2017
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Investment advisory firms see combined profit jump in fiscal Q1
The combined net profit of 165 investment advisory firms in South Korea more than tripled on-quarter in the fiscal first quarter of this year, thanks to a rise in commission fees as the stock market rallied, data showed Wednesday.The investment advisory firms reported a combined net profit of 28.4 billion won ($25.1 million) during the fiscal first quarter, which ended in June, compared to a profit of 8.6 billion won in the previous quarter, according to the data from the Financial Supervisory S
Sept. 13, 2017
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Savings banks‘ household loans soar 21% over past year
South Korean savings banks' household loans have spiked 21 percent over the past year to hit a record high despite their high interest, data showed Wednesday.Savings banks' outstanding household lending came to 20.2 trillion won ($17.9 billion) as of end-July, up 20.9 percent from a year earlier, according to the data from the Bank of Korea.It has surpassed the 20 trillion-won mark for the first time and represents the highest level since December 2007, when the central bank started to compile r
Sept. 13, 2017
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Seoul stocks end higher on institutional buying
South Korean stocks closed higher Tuesday as institutional buyers scooped up shares, taking a cue from overnight Wall Street gains, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index advanced 6.39 points, or 0.27 percent, to close at 2,365.47. Trade volume was moderate at 328 million shares worth 4.9 trillion won ($4.3 billion), with gainers outnumbering losers 455 to 334.The local stock market opened higher as market sentiment was boosted by
Sept. 12, 2017