Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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First-ever meeting of president, opposition chief set to finally happen
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Doctor gets suspended term for administering propofol to Yoo Ah-in
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Seoul shares extend gains in late morning trading
South Korean stocks extended gains late Thursday morning as foreigners and institutions scooped up market heavyweights. The won rose against the dollar. The benchmark Korea Composite Stock Price Index was up 13.36 points, or 0.56 percent, to 2,379.76 as of 11:20 a.m.Institutions and foreigners bought a combined 140 billion won ($124 million), offsetting net selling worth 156 billion won by individuals. A tight range is widely expected this week ahead of the US Federal Reserve's annual econ
Aug. 24, 2017
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LG Chem trades at 52-week high on earnings, battery biz
LG Chem Ltd., South Korea's top chemical firm, soared to a 52-week high on Thursday on solid earnings and hopes for its burgeoning battery business, industry sources said.LG Chem traded at 377,500 won ($345) on the Seoul bourse as of 10:05 a.m., up 3.14 percent from the previous session's close and becoming the seventh most valued firm on the local stock market, and bypassing Internet portal operator Naver and Samsung C&T, the de facto holding firm of Samsung Group.Over the past two months,
Aug. 24, 2017
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Korean stocks open higher on foreign buying
South Korean stocks opened higher Thursday helped by foreign buying. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 5.52 points, or 0.23 percent, to 2,371.92 in the first 15 minutes of trading.Analysts expected the Seoul stock market to move in a tight range this week ahead of the US Federal Reserve's annual economic policy symposium in Jackson Hole, Wyoming. Large-cap stocks traded mixed across the board, with leading steelmaker POSCO rising
Aug. 24, 2017
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Gold funds shine on flight to safety
Gold-related funds in South Korea have posted stellar returns over the past month, data showed Thursday, as geopolitical risks chilled the stock market and stoked investors' flight to safety.Those funds posted an average return of 3.49 percent in the month to Wednesday, the top performer among local investment funds worth 1 billion won ($880,000) or more, according to the data from financial information provider FnGuide.Comparable yields were 2.31 percent for exchange traded funds focused on ove
Aug. 24, 2017
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Korea to tighten grip on short-selling
South Korea’s top financial regulators and sole market operator on Wednesday unveiled plans to tighten their control on short-selling in stock markets, a practice widely vilified here.Starting September, Korea will be able to put a brake on short-selling of a certain stock for a day, if short-selling of stocks that have fallen more than 5 percent take up 18 percent -- tighter by 2 percentage points -- of the daily trade volume, while the volume of short-selling on that stock rose sixfold c
Aug. 23, 2017
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Seoul stocks end higher on foreign buying
South Korean stocks ended higher Wednesday as foreigners increased their stock purchases that offset sell-offs by institutions. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 1.07 points, or 0.05 percent, to close at 2,366.40. Trade volume was moderate at 225.09 million shares worth 3.918 trillion won ($3.3 billion), with losers outnumbering winners 479 to 306.Foreigners and individuals bought a combined 183 billion won ($162 million) worth of stoc
Aug. 23, 2017
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Naver founder cuts stock holdings to 4.31%
The billionaire founder of Naver Corp., Lee Hae-jin, has cut his stock holdings in South Korea's dominant Internet portal operator by selling 110,000 shares, a regulatory filing showed Wednesday. Lee sold his 0.33 percent stake in a block deal worth 81.8 billion won ($72.3 million), or 743,990 won per share, on Tuesday, according to the filing.Lee's stock holding in Naver was lowered to 4.31 percent from 4.64 percent. It remains unclear why Lee sold the stock, but the transaction came as Naver i
Aug. 23, 2017
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Seoul shares shed earlier gains in late morning trading
The South Korean bourse shed some earlier gains late Wednesday morning as institutions sold off stocks. The won rose against the dollar. The benchmark Korea Composite Stock Price Index was up 2.71 points, or 0.11 percent, to 2,368.04 as of 11:20 a.m.Institutions sold a net 74 billion won ($65 million), outweighing net buying worth 72 billion won by foreigners and individuals. Analysts didn't expect any strong rally in the KOSPI index as investors await cues from the US Federal Reserve's ann
Aug. 23, 2017
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Stock funds log net inflows for 2nd month
South Korea's stock funds have chalked up net inflows for the second straight month, data showed Wednesday, as the local stock market is undergoing a period of correction.After touching a record high in late July, the Korea Composite Stock Price Index has been on the skids on foreign investors' massive profit-taking before regaining some ground in recent sessions. KOSPI closed up 0.44 percent at 2,365.33 on Tuesday.According to the data by fund researcher Zeroin, domestic stock funds, excluding
Aug. 23, 2017
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Korean stocks open higher on US gains
South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 12.22 points, or 0.52 percent, to 2,367.22 in the first 15 minutes of trading.On Tuesday (US time) The Dow Jones industrial average rose 0.90 percent to 21,899.89 and the tech-heavy NASDAQ climbed 1.36 percent to 6,297.48. Analysts expected the Seoul stock market to move in a tight range as investors find
Aug. 23, 2017
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Listings of financial firms, chipmakers soar over decade
South Korea's main stock market has seen a surge in the number of listed financial companies over the past decade, with the minor bourse posting a sharp rise in listings of chipmakers and pharmaceutical firms, data showed Wednesday.According to the data by the Korea Exchange, financial companies listed on the country's major bourse numbered 116 as of the end of July, up 59 from 10 years earlier and the largest among all industrial sectors. The number of companies traded on the major KOSPI
Aug. 23, 2017
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Finance Minister vows to keep nation’s debt under W700tr
South Korea’s top fiscal policymaker said in parliament on Tuesday that the government would keep the national debt under 700 trillion won ($616.7 billion) in 2017, amid concerns over rising government expenditure.In a meeting of the National Assembly’s Special Committee on Budget & Accounts, Deputy Prime Minister for Economic Affairs and Finance Minister Kim Dong-yeon said the volume of government debt is “manageable,” while adding the rise in debt is “ine
Aug. 22, 2017
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Banks sway between recruitment and downsizing
Major banks are holding off their second-half employment notice, pressed between their financial need for downsizing and the Moon Jae-in administration‘s drive for job creation.While the central bank and a partially state-controlled bank vowed to expand recruitment, most commercial banks prolonged their ambiguous silence, apparently reluctant to make pre-emptive moves.The Bank of Korea said Tuesday that it will hire 70 new employees in the latter half of the year, increasing its recruitmen
Aug. 22, 2017
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Stock data supports case for Celltrion relisting
As Celltrion, the top-valued stock in market cap on the second-tier Kosdaq market, is set to discuss moving to the main bourse, recent analyses by market watchers have made the case for Kosdaq-listed powerhouses’ recent attempts to move into the top-tier market. The biologic drugmaker on Monday said in a regulatory filing it would hold a shareholders’ meeting on Sept. 29 at its headquarters in port city Incheon. Last Wednesday, the firm announced on its website that petitions were co
Aug. 22, 2017
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Seoul stocks end higher on institutional buying
South Korean stocks closed higher Tuesday as institutions helped offset net selling by foreigners and individuals. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 10.33 points, or 0.44 percent, to close at 2,365.33. Trade volume was moderate at 245.76 million shares worth 3.827 trillion won ($3.3 billion), with winners outnumbering losers 437 to 364.Institutions scooped up a net 90 billion won worth of stocks. But foreigners and individuals dumped a
Aug. 22, 2017
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[Monitor] Heavy debtors on the rise
The number of South Koreans in debt beyond their means surged nearly 48 percent in the past three years amid low interest rates and relaxed real estate regulations, data by the office of National Assembly Speaker Chung Sey-kyun showed Tuesday.As of the end of June, 1.18 million people in the country had a debt service ratio of 100 percent or higher, up 47.5 percent from the end of 2014. The number has continued to rise since 2013, reaching 800,000 at the end of 2014.The report is based on data f
Aug. 22, 2017
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Korea to map out plan for financial deregulation by year-end
South Korea's state regulator said Tuesday it will map out a plan by the end of this year to ease regulations on the financial industry, aimed at reinvigorating the sector suffering from slow growth.The main goal is to ease restrictions and cut red tape that has discouraged companies from making inroads into the financial sector, the Financial Services Commission said in a statement.Another goal is to encourage banks and other financial institutions to lend money to start-ups and other promising
Aug. 22, 2017
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Seoul shares trim earlier gains in late morning trading
South Korean shares trimmed earlier gains late Monday morning as foreigners sold off more shares. The won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 7.10 points, or 0.30 percent, to 2,362.10 as of 11:20 a.m.Foreigners and individuals sold a combined 40 billion won ($37 million) worth of stocks, weighing down the main index. Institutions bought 29 billion won worth of shares. A strong rally in the KOSPI index is not expected this week as investors remain c
Aug. 22, 2017
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Stocks open higher on US gains
South Korean stocks opened higher Tuesday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.22 points, or 0.52 percent, to 2,367.22 in the first 15 minutes of trading.On Monday (local time), the Dow Jones industrial average rose 0.13 percent to 21,703.75. Institutions bought 15.19 billion won ($14 million) worth of stocks, after dumping a combined 464.7 billion won stocks in the past four sessions. Most large-cap stocks advanced across t
Aug. 22, 2017
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Insurers' financial status shows polarization in H1
The financial health of life insurers in South Korea showed a marked polarization in the first half of the year as foreign players fared far better than local rivals thanks to stepped-up preparations for a new accounting rule, data showed Tuesday.Four foreign-controlled insurance companies made the list of the top five players with the best financial soundness in the January-June period, with smaller domestic firms languishing at the bottom of the standings.As of end-June, ING Life Insurance rep
Aug. 22, 2017