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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Stocks open higher on tech, steel
South Korean stocks opened higher Friday on the back of strong gains in technology firms and steelmakers.The benchmark Korea Composite Stock Price Index advanced 8.65 points, or 0.37 percent, to 2,372.22 in the first 15 minutes of trading.Tech shares kicked off bullish, with Samsung Electronics rising 1.51 percent and SK hynix jumping 1.06 percent. LG Electronics moved up 2.07 percent.Steelmakers also opened higher, with No. 1 Posco increasing 2.04 percent and Hyundai Steel climbing 1.02 p
June 9, 2017
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Seoul stocks edge up amid series of events
South Korean stocks closed slightly higher Thursday after trading nearly flat throughout the session as investors took to the sidelines amid a series of global events, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index inched up 3.43 points, or 0.15 percent, to 2,363.57. Trade volume was moderate at 402 million shares worth 8.1 trillion won ($7.21 billion), with losers outnumbering gainers 441 to 366.Analysts said Seoul shares traded nearly f
June 8, 2017
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Korean shares trade lower in late morning trade
South Korean stocks traded lower late Thursday morning with builders and retailers being major losers.The benchmark Korea Composite Stock Price Index fell 9.68 points, or 0.41 percent, to 2,350.46 as of 11:20 a.m.Construction shares continued to lose ground, with Hyundai Engineering & Construction falling 1.83 percent and Daewoo Engineering & Construction moving down 2.15 percent. Daelim Industrial shed 1.54 percent.Retailers also traded bearish, with top player E-Mart stepping down 2.59
June 8, 2017
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Stocks open nearly flat on global uncertainties
South Korean stocks opened nearly flat Thursday as investors took a wait-and-see stance on global events, including the upcoming policy meeting of the European Central Bank.The benchmark Korea Composite Stock Price Index shed 1.18 points, or 0.05 percent, to 2,358.96 in the first 15 minutes of trading.Tech shares were among the winners, with Samsung Electronics rising 0.31 percent and LG Electronics advancing 0.94 percent. LG Display moved up 2.68 percent.Builders traded lower, with Hyundai Engi
June 8, 2017
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Banks' loan delinquency rate edges up in April
The delinquency rate of South Korean banks' won-denominated loans edged up in April from a month earlier due to a slight rise in new non-performing loans, government data showed Thursday. The rate for bank loans more than 30 days overdue stood at 0.54 percent at the end of April, up from 0.51 percent at the end of March, according to the data by the Financial Supervisory Service. Compared with a year ago, however, the rate was down 0.1 percentage point, it said. "In April, newly delinquent
June 8, 2017
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Seoul stocks close lower on global uncertainties
South Korean stocks closed lower Wednesday as investors were taking a wait-and-see approach over global events, including the general election in Britain, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 8.48 points, or 0.36 percent, to 2,360.14. Trade volume was moderate at 370 million shares worth 6 trillion won ($5.33 billion), with losers slightly outnumbering gainers 406 to 405.Analysts said the sluggish trading came as investors
June 7, 2017
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Asset managers‘ operating profit falls 14.8% in Q1
South Korean asset management firms saw their combined operating profit fall 14.8 percent in the first quarter on decreased commission fee income, data showed Wednesday. The combined operating profits of 175 local fund management firms came to 142.8 billion won ($127.2 million) by the end of March, down 24.9 billion won from the last quarter of 2016, according to data compiled by the Financial Supervisory Service.The number of management firms suffering deficits also rose to 73, from 67 in the p
June 7, 2017
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Jonggak Station earns new name: Standard Chartered Bank Korea Station
Jonggak Station on Seoul’s Subway Line No. 1 got a second name Friday -- Standard Chartered Bank Korea Station -- the bank said Wednesday.Seoul Metro, an operator of eight subway lines in the Seoul metropolitan area, signed a three-year contract with the Seoul-based unit of the international banking giant on May 29, after the bank won a bid on May 19, according to the bank. Platform signs and subway maps will state both names for the station. Train announcements of the stat
June 7, 2017
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Net purchase of Kosdaq shares by offshore investors biggest in 13 yrs: data
Foreign investors purchased a net 530 billion won ($474 million) worth of stocks on South Korea's tech-heavy Kosdaq market in May, the most in 13 years, local data showed Wednesday.The amount is the third-largest monthly net buying by offshore investors in the secondary Kosdaq market after 1.01 trillion won tallied in February 2000 and 723.4 billion won in April 2004, the Korea Exchange said. Foreign investors concentrated on buying IT and semiconductor shares. Foreign investors bought 1.0
June 7, 2017
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Korean shares nearly flat in late morning trade
South Korean stocks traded nearly flat late Wednesday morning as major blue chip shares traded mixed amid profit-taking.The benchmark Korea Composite Stock Price Index fell 1.93 points, or 0.08 percent, to 2,366.69 as of 11:20 a.m.Tech giants traded mixed, with top cap Samsung Electronics falling 0.9 percent, while flat panel maker LG Display shot up 2.36 percent.Logistics shares gained ground, with Hyundai Glovis moving up 0.97 percent and flag carrier Korean Air advancing 3.05 percent.The loca
June 7, 2017
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Stocks open lower on profit-taking
South Korean stocks opened lower Wednesday as investors continued to take a breather amid the latest growth rally on the main bourse.The benchmark Korea Composite Stock Price Index dipped 8.24 points, or 0.35 percent, to 2,360.38 in the first 15 minutes of trading.Carmakers traded bearish, with Hyundai Motor falling 1.55 percent and its auto parts affiliate Hyundai Mobis decreasing 3.45 percent. Kia Motors shed 0.39 percent.Chemical shares were also among losers, with Amore Pacific decreasing 1.
June 7, 2017
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118-year-old Woori Bank is oldest listed firm in S. Korea
Woori Bank is the oldest firm listed on South Korea’s stock market, data showed Tuesday.Woori Bank, the fourth-largest commercial bank in South Korea in terms of market cap, is 118 years old, according to data from the Financial Supervisory Service and the Korea Securities Depository.The bank was founded in 1899 through financing by a Joseon-era emperor. It was called Daehan Cheon-il Bank then, but later renamed itself Commercial Bank of Korea. It was one of the five major banks here until
June 6, 2017
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More Kospi stocks notch up yearly highs
More major stocks on South Korea’s top bourse jumped into the 52-week high parade Monday, following the historic rally that led nearly one-fourth of its stocks to hit a peak in May.LG Electronics hit 88,900 won ($79.5), while panel maker LG Display reached 34,300 won and automatic teller machine maker Hyosung tapped 172,000 won at the highest during the Monday trade. The previous yearly high was 86,900 won, 33,500 won and 170,500 won, respectively.They were not the only powerhouses listed
June 5, 2017
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Seoul stocks close slightly lower amid mixed blue chip trade
South Korean stocks traded nearly flat throughout the session to close slightly lower Monday as major blue chips traded in mixed terrain, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index fell 3.1 points, or 0.13 percent, to 2,368.62. Trade volume was moderate at 322 million shares worth 5.1 trillion won ($4.56 billion), with losers outnumbering gainers 469 to 358.Despite the overall sluggish trade, the KOSPI reached 2,376.83 at one point, s
June 5, 2017
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Citibank Korea chief says no pullout from Korea
Citigroup Inc., a New York-based global investment banking and financial services company, won't withdraw its operations from South Korea, Citibank Korea's chief said.Citibank Korea "is here to stay and continue investments as necessary to achieve sustainable growth in Korea," Chief Executive Park Jin-hei said Friday in a message to Citibank Korea employees.There has been market speculation that Citigroup was taking steps to exit from the country when Citibank Korea reduced the number
June 5, 2017
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Seoul shares lose ground on techs, chemicals
South Korean stocks lost ground late Monday morning following losses from technology and chemical shares.The benchmark Korea Composite Stock Price Index fell 4.39 points, or 0.19 percent, to 2,367.33 as of 11:20 a.m.Market behemoth Samsung Electronics inched down 0.04 percent, and top chipmaker SK hynix also slid 1.75 percent. Chemical shares were also losers, with LG Chem decreasing 1.19 percent and AmorePacific falling 0.15 percent.The local currency was trading at 1,119.00 won against the US
June 5, 2017
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Stocks open higher, set new record
South Korean stocks opened higher Monday to reach a new record during the trading session.The benchmark Korea Composite Stock Price Index edged up 3.13 points, or 0.13 percent, to 2,374.85 in the first 15 minutes of trading.The KOSPI reached 2,376.83 at one point, setting a new record in terms of during-session figures.Tech shares traded mixed, with Samsung Electronics advancing 0.22 percent and SK hynix losing 0.53 percent. Top carmaker Hyundai Motors rose 0.92 percent, while its sister Kia Mot
June 5, 2017
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Seoul stocks set to rise next week
South Korean stocks are expected to rise further next week on improved investor sentiments and solid fundamentals, local analysts said Saturday.Market watchers predicted the country's benchmark Korea Composite Stock Price Index (KOSPI) to maintain its upward momentum in the coming days as there are no negative factors that could weigh on the bourse.The broader index closed at 2,371.72 points Friday, up 0.7 percent from a week ago.KB Securities analyst Bae Sung-young said the main index has furth
June 3, 2017
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Kospi chalks up fresh historic high
South Korea’s main stock market chalked up a fresh historic high Friday, a week after it hit 2,355.3 the previous Friday, on strong foreign buying riding on world rallies.The benchmark Korea Composite Stock Price Index closed at 2,371.72 Friday, up 1.16 percent from previous trading day.Opening strong at 2,353.77, up 0.39 percent from Thursday’s closing at 2,344.61, the Kospi topped 2,370 for the first time at around 2:20 p.m. The index hit intraday high at 2,372.65 at around 3 p.m.
June 2, 2017
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FSS vows measures for savings banks
The Financial Supervisory Service said Friday it would seek pre-emptive measures to protect savings banks against side effects from the government’s anticipated move to lower the limit on their maximum interest rates.The FSS said in a press release that a lower ceiling for lending rates may dent savings banks’ financial health. The regulator said the stricter lending rate ceiling would pull down the profitability of the banks, which had shown sound financial health in the first quart
June 2, 2017