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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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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Korea enters full election mode
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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 hit new record on solid earnings hopes
South Korean stocks ended up at a fresh record high Wednesday backed by institutional buying amid hopes for sound corporate earnings. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 3.90 points, or 0.16 percent, to close at a record high of 2,429.94. Trade volume was moderate at 266.82 million shares worth 5 trillion won ($4.5 billion), with gainers outnumbering decliners 521 to 289. Institutional investors bought a net 140 billion won worth of stoc
July 19, 2017
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Seoul shares turn lower Wednesday morning on foreign selling
South Korean stocks turned lower Wednesday morning as foreigners and individuals offloaded their holdings. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index that started the day in positive territory surrendered 2.36 points, or 0.10 percent, to 2,423.68 as of 11:20 a.m.Foreigners and individuals sold a combined 133 billion won ($118 million) worth of stocks. Institutions bought a net 126 billion won that kept the main index from falling further. Tech
July 19, 2017
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Seoul stocks open higher despite US losses
South Korean stocks opened higher Wednesday despite losses on Wall Street, with institutions buying stocks on bargain hunting. The benchmark Korea Composite Stock Price Index rose 1.26 points, or 0.05 percent, to 2,427.30 in the first 15 minutes of trading. The main index hit a record high of 2,425.10 in the previous session. Institutional investors bought a net 29 billion won ($26 million) worth of stocks. Foreigners and individuals offloaded a combined 27 billion won in shares. On
July 19, 2017
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National pension fund raises holdings of Samsung, SK hynix stocks
South Korea's national pension fund has raised its holdings of stocks in Samsung Electronics Co. and SK hynix Inc. apparently to capitalize on the global semiconductor industry boom, market data showed Wednesday. The National Pension Fund held 85.4 trillion won ($75.8 billion) worth of stocks in 100 companies in South Korea at the end of last month, according to the data by corporate tracker CEO Score. The fund's holdings of Samsung Electronics stocks stood at 30.8 trillion won, accounting for 3
July 19, 2017
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‘Trader protection priority in bitcoin bill’
Panelists in a public hearing held Tuesday to build a legal ground for cryptocurrency in South Korea called for regulators to take swift action to strengthen consumer protection from its transactions.The panel also encouraged the state-led protection to guarantee the stability of the cryptocurrency‘s value and soundness of the related business. Rep. Park Yong-jin, lawmaker of ruling Democratic Party of Korea, presided over the public hearing, about two weeks after he unveiled a plan to pro
July 18, 2017
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Seoul stocks hit record high on expectations of strong Q2 earnings
South Korean stocks turned higher to reach a fresh record high Tuesday backed by institutional buying. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.94 point, or 0.04 percent, to close at a record high of 2,426.04.Trade volume was moderate at 255.64 million shares worth 4.6 trillion won ($4 billion), with losers outnumbering winners 414 to 387. Institutional investors bought a net 122.04 billion won worth of stocks amid expectations that ma
July 18, 2017
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Seoul shares trim earlier losses Tuesday morning
South Korean stocks trimmed earlier losses Tuesday morning as institutions and individuals bought stocks on bargain hunting. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Indexa backtracked 1.75 points, or 0.07 percent, from the previous day's close to stand at 2,423.35 as of 11:20 a.m.Institutions and individuals bought a combined 85 billion won ($75 million) worth of stocks. Foreigners sold a net 93 billion won, pulling down the main index. Market be
July 18, 2017
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FSC nominee defends approval of K bank
Financial Services Commission Chairman nominee Choi Jong-ku on Monday denied allegations that the regulator gave a preliminary endorsement for the license of K bank, the nation’s first internet-only bank, despite it not meeting the requirements.“I do not believe that FSC officials would have jumped to conclusions with certain intentions and given favors,” Choi said during a confirmation hearing at the National Assembly. But Choi added he would take due measures, if the approval
July 17, 2017
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Seoul stocks at another historic high, Samsung affiliates lead gains
South Korean stocks ended at a fresh record high Monday taking a cue from gains on Wall Street last week. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.47 points, or 0.43 percent, to close at a record high of 2,425.10. Trade volume was moderate at 252.17 million shares worth 4.82 trillion won ($4.27 billion), with gainers outnumbering losers 526 to 279.Institutional investors bought a net 110.77 billion won worth of stocks on expectations that
July 17, 2017
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Seoul stocks open higher on US gains
South Korean stocks opened higher Monday tracking gains on Wall Street, with investors waiting for second-quarter earnings results from big companies due out later this month.The benchmark Korea Composite Stock Price Index added 11.89 points, or 0.49 percent, to a high of 2,426.52 in the first 15 minutes of trading.On Friday, the Dow Jones Industrial Average ended up 0.39 percent at 21,637.74 and the tech-heavy NASDAQ was up 0.61 percent to 6,312.47. Companies such as Samsung Electronics Co. and
July 17, 2017
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Stock trading via smartphones sees sharp rise
Stock trading via smartphones accounted for an average 34.48 percent of daily trading on the secondary KOSDAQ market during the first half of this year, the nation's bourse operator said Monday. In 2010, stock trading via smartphones took up just 3.8 percent of the KOSDAQ market, according to the Korea Exchange. Mobile stock trading in South Korea has jumped over the past seven years, mainly due to brokerages' stepped-up marketing efforts for smartphone users. Last year, stock trading via
July 17, 2017
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FSC nominee talks easing online banking ownership laws
A nominee for the nation’s financial watchdog on Sunday addressed the need to ease ownership regulations on non-financial entities in the banking sector to promote additional launches of internet-only banks. Choi Jong-ku, the nominee for chairman of the Financial Services Commission, said a pending bill on easing up Korea‘s existing banking laws to accommodate non-financial industries owning bank stakes, should be decided considering the nature of internet-only banks designed to cove
July 16, 2017
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Value of overseas investment funds soars over past year
The value of South Korea's overseas investment funds has jumped more than 40 percent over the past year as big-time investors look overseas for high returns despite the recent bull of the domestic stock market, data showed Sunday. According to the data by the Korea Financial Investment Association, the combined net worth of overseas investment funds came to 110.75 trillion won ($97.7 billion) as of Wednesday, up 40.4 percent from a year earlier.Funds investing in special overseas assets, excludi
July 16, 2017
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IPO market forecast to lose steam in H2
South Korea's initial public offering market is expected to lose ground sharply in the second half of the year as several large candidates have scrapped or postponed their plans, sources said Sunday. The country's IPO market was white-hot in the first six months of the year thanks to share sales by South Korea's largest mobile games maker Netmarble Games Corp. and three other companies that were listed on the main stock market.The four companies raised 3.9 trillion won ($3.44 billion) by selling
July 16, 2017
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Analysts focus on shifting sands in bullish Kospi
South Korea’s main bourse index continued its relentless record run Friday, closing at 2,414.63 points, up 0.21 percent from the previous day’s close at 2,409.49.Making the historic jump past the 2,400 closing mark Thursday, the benchmark Korea Composite Stock Market Index has risen 18.9 percent from Jan. 2 to Thursday, the highest in seven years, according to data by the market operator, the Korea Exchange.Analysts, meanwhile, focused on the shifting sands amid the bull run, with fo
July 14, 2017
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[Photo News] Woori Bank reaches out to foreigners
July 14, 2017
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Banks' foreign currency deposits falls in June
Foreign currency deposits held by banks operating in South Korea dropped in June as exporters decreased their deposits of dollar-denominated earnings, central bank data showed Friday.Outstanding foreign currency deposits held by local lenders, domestic and foreign, reached US$63.61 billion in June, down $6.33 billion from a month earlier, the Bank of Korea said in a statement.Broken down, foreign currency deposits held by domestic banks came to $54.44 billion in June, down from 59.87 billion in
July 14, 2017
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Citibank Korea, union agree to close 90 branches, freeze layoffs
Citibank Korea, the South Korean unit of Citigroup Inc., and its labor union on Friday signed an agreement under which the bank will slightly reduce the number of branches it plans to shut down and not lay off employees without justifiable cause.Citibank Korea, which had operated a total of 126 retail banking branches in South Korea, had originally planned to shut down 101 branches. But the move has been criticized by the union and some politicians for leaving customers without easy access to ke
July 14, 2017
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[Monitor] Foreign ownership of stocks hit record high
Driven by high corporate earnings and expectations of a global economic recovery, foreign ownership of Korean stocks reached over 602 trillion won as of Tuesday, hitting a record high, according to Koscom, the systems manager of Korea Exchange.It accounts for 34.04 percent of the total market cap of listed stocks, marking the first time for the figure to surpass 34 percent since June 20 of 2007.
July 13, 2017
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Kospi leaps past 2,400 mark
The main bourse of South Korea leaped to another record-high Thursday, surpassing the 2,400 closing mark for the first time in history. The benchmark Korea Composite Stock Price Index rose 0.74 percent to close at 2,409.49 Thursday from Wednesday’s closing at 2,391.77.The top-tier stock market continued its record run, a day after it retreated 0.18 percent from the previous record high at 2,396.00 Tuesday.Foreign investors showed a strong buying trend, recording net purchase of 372.9 billi
July 13, 2017