Most Popular
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[Behind the K-pop Scene] 'K-pop is all about money'
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Seoul to mull more Ukraine support based on Pyongyang’s level of involvement: official
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[Oddities] What's in a name? How Koreans faked their way to Kim, Lee and Park
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Seoul unveils plan to move 68km of railways underground
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Russian, N. Korean flags displayed together on Ukraine battlefield
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Kakao’s AI service Kanana aims for ‘next KakaoTalk’
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[ASEAN Plus Korea] 'Restrictive immigration may dampen Southeast Asian interest in Korea'
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[Today’s K-pop] Blackpink’s Jennie, Rose set career-highs
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[Hello India] Hyundai Motor makes landmark stock debut in India
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No. of foreign nationals on old-age pension crosses 10,000
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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
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Korea tensions keep a lid on global markets
LONDON (AP) -- Global stock markets traded in narrow ranges Monday as investors awaited a key meeting of central bankers later this week and continued to monitor developments on the Korean peninsula.In Europe, the FTSE 100 index of leading British shares was steady at 7,326 while Germany's DAX fell 0.3 percent to 12,132. France's CAC 40 was 0.3 percent lower at 5,100. U.S. stocks were poised for a similarly tepid opening with Dow futures and the broader S&P 500 futures unchanged.On Mond
Aug. 21, 2017
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K bank absorbs borrowers with mid-credit scores: data
In operation for nearly five months, South Korea’s first online-only bank K Bank has proved its capability to absorb borrowers holding mid-credit scores by bringing the delinquency rate of loans under control, data showed Monday. Over half of K bank’s 64,251 loans went to mid-credit rate borrowers as of Aug. 14, according to data from the Financial Supervisory Service. The 35,754 loans to mid-credit rate borrowers accounted for a fifth of the monetary value of all K bank loans,
Aug. 21, 2017
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FSS chief to tighten scrutiny of personal loans
South Korea’s top financial supervisor vowed Monday to keep close tabs on non-mortgage loans extended to households, amid rising speculation of borrowers skirting tougher regulations on mortgages by using personal loans to buy homes -- an illegal practice here.Zhin Woong-seob, governor of the Financial Supervisory Service, stressed in an undisclosed meeting the need for “thorough scrutiny” on the rising level of household credit. Financial authorities believe general household
Aug. 21, 2017
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Seoul stocks end lower on profit taking
South Korean stocks closed lower Monday as foreigners and institutions scaled back on their stockholding on profit taking. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index fell 3.37 points, or 0.14 percent, to close at 2,355.00. Trade volume was moderate at 204.5 million shares worth 3.753 trillion won ($3.3 billion), with decliners outnumbering advancers 478 to 308.Institutions dumped a net 103.98 billion won worth of stocks and foreigners also sold a ne
Aug. 21, 2017
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Global stock funds log 1st net outflow from Korea in 32 weeks
Global equity funds have posted a net outflow from South Korea for the first time in 32 weeks amid foreign investors' massive profit-taking, industry data showed Monday. Four international funds investing in South Korea withdrew a net 55 billion won ($48.3 million) from the local stock market in the week to Wednesday, according to the data by Mirae Asset Daewoo Securities Co. and global fund tracker Emerging Portfolio Fund Research.The equity funds, including US investment fund Global Emerging M
Aug. 21, 2017
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Samsung, LG, SK take big share of listed firms' H1 net
Samsung and two other leading family-controlled conglomerates in South Korea accounted for a big chunk of listed firms' first-half earnings, data showed Monday, pointing to a growing concentration of corporate income in a few titans.According to the data by the Korea Exchange, 29 listed units of Samsung, LG and SK groups posted a combined net income of 35.61 trillion won ($31.2 billion) in the January-June period, up a whopping 90.3 percent from the same period a year earlier.The amount took up
Aug. 21, 2017
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Korean shares extend losses in late morning trading
South Korean shares extended losses late Monday morning as foreigners dumped more local stocks on profit-taking. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index fell 4.02 points, or 0.17 percent, to 2,354.35 as of 11:20 a.m.Foreigners sold a net 42 billion won ($37 million) worth of stocks. Institutions also offloaded 26 billion won worth of shares, to weigh down the main index. A strong rally in the KOSPI index is not expected this week as investor
Aug. 21, 2017
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Stocks open lower on US losses
South Korean stocks opened lower Monday tracking with foreigners turning net sellers on profit taking. The won rose against the dollar. The benchmark Korea Composite Stock Price Index fell 2.40 points, or 0.10 percent, to 2,355.97 in the first 15 minutes of trading.This week, investors are expected to take a wait-and-see attitude ahead of two major events that could affect the markets. They are the annual economic policy symposium in Jackson Hole, Wyoming, and the Ulchi-Freedom Guardi
Aug. 21, 2017
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Market watchers forecast geopolitical tension to persist
Questions persisted on whether South Korea‘s stock markets fully escaped from the geopolitical risks that had weighed on the monthslong record run until late July, despite the rebound seen last week. Over the past week, the Kospi rose 1.8 percent to close at 2,358.37 Friday, including 0.14 percent retreat on Friday. The main bourse index gained for three consecutive trading days until Thursday. The stock markets did not open on Tuesday for a national holiday.The recovery was mainly led by
Aug. 20, 2017
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Egg scare eases off in stock markets
While the contaminated egg scare continues to grip South Korea, the stocks related to eggs have bounced back. Those that had briefly benefited from the crisis, such as vaccine makers, stopped short of its rally last week.Stocks related to eggs had seen their prices dragged down by the insecticide-contaminated eggs found on farms across the country for days, but started regaining towards the end of the week. SPC Samlip, the nation’s largest breadmaker listed on the top-tier Kospi,
Aug. 20, 2017