Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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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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Over 9,000 hotline calls made by stalking victims in 2023
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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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Korean institutional investment into foreign stocks, bonds hits new high
Investment by South Korean institutional investors into foreign bonds and stocks hit a record high at the end of March this year, official data showed Wednesday. The data suggested that appetite by South Korean insurers, brokerages and asset management firms for riskier assets in foreign countries improved amid record-low interest rates at home. The total holdings of foreign bonds and stocks by South Korean institutional investors stood at $192.9 billion at the end of March, the Bank of Ko
May 31, 2017
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Seoul shares up in late morning trading
South Korean shares traded higher late Wednesday morning as foreign and institutional buyers scooped up big cap stocks amid a massive selling spree by individuals.The benchmark Korea Composite Stock Price Index added 9.42 points, or 0.4 percent, to 2,353.10 as of 11:20 a.m.The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.Top cap Samsung Electronics adva
May 31, 2017
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Seoul shares open tad lower on large-cap losses
South Korean stocks started marginally lower Wednesday mainly on the back of losses in top-listed firms, analysts said. The benchmark Korea Composite Stock Price Index inched down 3.55 points, or 0.15 percent, to trade at 2,340.13 in the first 15 minutes of trading.Top-cap Samsung Electronics edged down 0.09 percent, with chipmaker SK hynix sliding 1.22 percent.Medical and insurance shares, however, started in positive terrain, with Samsung BioLogics, a biopharmaceutical affiliate of Samsung Gro
May 31, 2017
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Samsung Asset Management launches RIF to meet Korean needs
Samsung Asset Management and Capital Group teamed up to launch Tuesday a set of retirement income funds, which they said are expected to “meet Korean retirement needs.” The RIFs mark the first pension funds in South Korea that allow retirees to withdraw money from the funds. The four types of pension schemes by the asset management arm under Korea’s largest conglomerate were based on the US financial services firm’s diversified investment portfolio. Income fund subs
May 30, 2017
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Seoul stocks down 0.39% on profit-taking
South Korean stocks ended slightly lower Tuesday as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 9.29 points, or 0.39 percent, to 2,343.68.Bae Sung-young, a market analyst at KB Securities Co., said institutions and foreign investors sold Samsung Electronics and other major technology stocks in an apparent profit-taking move.This, he said caused
May 30, 2017
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Non-performing loans decline as shipbuilding restructuring nears end
The volume of non-performing loans have fallen to pre-global financial crisis levels following the completion of the government’s large-scale restructuring of Korea’s ailing shipbuilding and shipping industries, according to the Financial Supervisory Service on Tuesday. The FSS announced that non-performing loans held by local banks reached 23.7 trillion won ($21.1 billion), or 1.38 percent, at the end of the first quarter, a 0.04 percentage point improvement compared to the end of l
May 30, 2017
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‘Kospi’s rally solely led by Samsung'
A significant surge by the nation’s major market index was entirely driven by Samsung Electronics, and without the tech giant’s contribution, the benchmark index could have fallen, a study showed Tuesday.According to the report by Korea Capital Market Institute, a private research center on the nation’s stock market, the Korea Composite Stock Price Index saw an increase of 211 points over a year solely led by Samsung Electronics’ stock price growth, which added 231 points
May 30, 2017
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Tighter rules for home loans to apply to all mutual savings institutions
The financial regulator said Tuesday it will apply tighter rules for mortgage loans to all mutual savings institutions starting next month, in the latest step to control fast-growing household debt. The tighter rules, which already have been applied to retail banks and other depository institutions, require borrowers to repay both interest and a part of principal until maturity. A total of 1,925 mutual savings institutions and credit units with assets below 100 billion won ($89 million) each wil
May 30, 2017
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Rates for household loans inch down in April
Bank lending rates on new household loans inched down in April and interest rates paid by banks on new deposits also fell, central bank data showed Tuesday.The average interest rates on fresh household loans extended by local banks came to 3.41 percent in April, down 0.02 percentage point from the previous month, according to the Bank of Korea. The BOK data came amid South Korea's efforts to tackle rising household debt. South Korea's household debt reached a record high of 1,359.7 trillion won
May 30, 2017
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Korean shares down 0.72% in late morning trade on profit-taking
South Korean stocks traded lower late Tuesday morning as foreign investors and institutions offloaded large-cap stocks in apparent move to lock in profits.The benchmark Korea Composite Stock Price Index lost 16.85 points, or 0.72 percent, to 2,336.12 as of 11:15 a.m.Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign investors and institutions sold large-cap stocks in apparent profit-taking, which are to blame for losses on the main bourse. Bae Sung-y
May 30, 2017
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Korean shares open higher on foreign, institution buying
South Korean stocks opened higher Tuesday on increased buying by foreigners and institutions.The benchmark Korea Composite Stock Price Index gained 1.03 points, or 0.04 percent, to 2,354.00 in the first 20 minutes of trading.Bae Sung-young, a market analyst at KB Securities Co., said the index moved in a tight range due to a lack of upside momentum.Large-cap stocks were mixed across the board.Top automaker Hyundai Motor gained 0.62 percent, and auto parts maker Hyundai Mobis Co. was up 0.18 perc
May 30, 2017
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Internet banking users up in Q1
South Korea's Internet banking service rose at a fast clip in the first quarter with both the number of users and daily transactions reaching record highs, central bank data showed Tuesday.In the three months that ended on March 31, the number of Internet and smartphone banking service users came to 125.32 million, up 2.3 percent from the previous quarter, according to the data from the Bank of Korea. The number is the sum of all registered users of 16 Internet and smartphone banking service pro
May 30, 2017
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Bank federation calls for fintech deregulation
The Korea Federation of Banks on Monday called on the incoming policymakers to steer clear of a set of regulations that it said have deterred local banks from dealing with the environment shift in financial circles.The banking federation suggested the new Moon Jae-in administration publicize fingerprints and ease regulation on servers for cloud computing and blockchain technology, based on which the federation said the banks would be able to pursue innovation. “Privacy is important,&r
May 29, 2017
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Seoul stocks down 0.10% on profit-taking
South Korean stocks ended slightly lower Monday on increased selling by institutions. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 2.33 points, or 0.10 percent, to 2,352.97.Bae Sung-young, a market analyst at KB Securities Co., said institutions offloaded stocks in apparent profit-taking, which is to blame for losses on the main bourse.Kim Ye-eun, an analyst at Cape Investment & Securities, also said Samsung Electronics and other major large-
May 29, 2017
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Korea set to take immediate action against any turbulence in market
The South Korean government said Monday that it will take immediate action against any turbulence in the local financial market and the national economy sparked by North Korea's latest missile launch.Around 5:39 a.m., North Korea fired a short-range ballistic missile, presumed to be a Scud type, from its eastern coast. It marked the communist nation's ninth missile test this year and the third since the new Moon Jae-in administration took office May 10.The liberal government had been seeking to
May 29, 2017
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Mirae Asset expands clout in global ETF market
Mirae Asset Global Investment’s exchange-traded fund business has been increasing its dominance in the global financial market, the company said Monday.The ETF business, currently managing over 15 trillion won ($13.4 billion), can be divided into three brands: Horizons (US, Canada, Hong Kong, and Columbia), Tiger (Korea), and BetaShares (Australia). Both the firm’s net assets and number of listed ETFs have doubled over the past six years since Mirae Asset has extended the busin
May 29, 2017
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Citibank Korea launches ATMs for US dollar withdrawals
Citibank Korea said Monday it has introduced automated teller machines enabling bank account holders with local currency to withdraw money in US dollars.The ATMs for foreign exchange transaction were installed in two branches in southern Seoul -- Banpo and Cheongdam -- on Thursday.The Korean unit of the New York-based banking giant added it plans to set up the machines in three more branches in Seoul and the metropolitan area. Using the ATMs, the won account holders can enjoy higher benefi
May 29, 2017
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Corporate loans rise slightly in Q1
Loans extended to local businesses rose slightly in the first quarter from a quarter earlier on increased operating expenses and facility investments, central bank data showed Monday.Outstanding corporate loans came to 1,001.7 trillion won ($894 billion) in the January-March period, up 1.6 percent from a quarter earlier, according to data from the Bank of Korea. Compared to a year earlier, the first quarter figure marked a 4.4 percent gain.In terms of where the money was spent, loans extended to
May 29, 2017
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Seoul shares up 0.45% in late morning trade
South Korean stocks extended gains late Monday on increased foreign buying.The benchmark Korea Composite Stock Price Index gained 10.49 points, or 0.45 percent, to 2,365.79 as of 11:15 a.m.The broad index didn't track Friday's losses on Wall Street.The Dow Jones industrial average fell 0.01 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign investors bought large-cap stocks, giving a boost to the main index.Bae Sung-young, a market analyst at KB Securities Co., also
May 29, 2017
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Korean shares open higher on foreign buying
South Korean stocks opened higher Monday on increased foreign buying.The benchmark Korea Composite Stock Price Index gained 8.11 points, or 0.34 percent, to 2,363.41 in the first 15 minutes of trading. The broad index didn't track Friday's losses on Wall Street.The Dow Jones industrial average dropped 0.01 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign investors bought large-cap stocks, giving a boost to the main index.Large-cap stocks were mixed across the boar
May 29, 2017