Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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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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[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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Korea enters full election mode
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Stock market's daily turnover hits 22-month high
The daily turnover of South Korea's main stock market has reached a 22-month high in May on the back of strong foreign buying, data showed Monday.The daily value of shares traded on the main stock market has averaged 6.67 trillion won ($5.92 billion) through Friday this month, up 45 percent from the previous month and 32.4 percent from a year earlier, according to the data by the bourse operator Korea Exchange. In particular, the turnover reached a monthly peak of 9.38 trillion won on May 10, a
May 15, 2017
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Seoul shares open lower on foreign selling
South Korean stocks opened lower Monday as foreign investors continued to dump market heavyweights, such as Samsung Electronics amid lingering geopolitical uncertainties.The benchmark Korea Composite Stock Price Index lost 4.7 points, or 0.21 percent, to 2,281.32 in the first 15 minutes of trading.Earlier in the day, North Korea said that it has successfully tested-fired a new surface-to-surface intermediate-range ballistic missile, claiming that the US mainland is within its reach.Market bellwe
May 15, 2017
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Regulators recommence work to consolidate financial oversight
Financial regulators have restarted their postponed discussion to consolidate a financial supervision system, a measure aimed at better spotting potential financial risks. The move is part of the Moon Jae-in administration’s chaebol reform drive, by examining financial transfers between a group’s companies, including loans and investments such as cross-shareholding. The Financial Services Commission and Financial Supervisory Service have reportedly picked up talks on how to oversee
May 14, 2017
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4 out of 10 Kospi stocks left out of bullish trend
Despite the record-setting bull run on South Korea’s main bourse, 4 out of 10 stocks there fell, data from the Korea Exchange showed Sunday.The KRX said 302 stocks out of 750 listed on the benchmark Korea Composite Stock Price Index fell as of Thursday compared to Dec. 29, accounting for 40.3 percent. The Kospi rose 13.32 percent over the cited period, from 2,026.46 to 2,296.37. As for the listed firms of both the first-tier and second-tier stock markets, 890 stocks out of 1,973, accountin
May 14, 2017
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Seoul shares likely to test 2,300 points next week
South Korean shares are likely to remain in a tight range next week, while testing whether it can breach the 2,300 point mark amid hopes of an extra budget being pushed forward by President Moon Jae-in, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2.286.02 points on Friday, up 2 percent from a week ago. This week the local stock market was boosted by expectations of an economic stimulus by the new administration, although it t
May 13, 2017
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Seoul stocks down 0.45% on profit-taking
South Korean stocks ended slightly lower Friday on increased selling by foreigners and institutions.The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index shed 10.35 points, or 0.45 percent, to 2,286.02.Bae Sung-young, a market analyst at KB Securities Co., said foreigners and institutions offloaded stocks in apparent profit-taking, which are to blame for losses on the main bourse.Kim Ye-eun, an analyst at Cape Investment & Securities, also said foreign sel
May 12, 2017
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BOK names expert on foreign reserves as head of reserve management group
South Korea's central bank said Friday it has named an expert on foreign reserves as the new head of its Reserve Management Group.Suh Bong-gook, director general at the International Department of the Bank of Korea, will be in charge of planning, investment and risk management of the country's foreign reserves, according to the BOK. As of the end of April, the country's foreign exchange reserves came to $376.57 billion, up $1.27 billion from the previous month, according to the BOK.Suh worked at
May 12, 2017
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NPS earns W13tr from local equity investment this year
Earnings made by the National Pension Service through its investments in local stocks have amounted to 13 trillion won ($11.5 billion) this year, with the main bourse Kospi recently hitting highs above the 2,300 level, industry data showed Friday.The appraised value of local stocks held by the nation‘s largest institutional investor rose 13.5 percent from 93.6 trillion won at the end of last year to 106.2 trillion won as of Wednesday, according to financial data tracker FnGuide. The value
May 12, 2017
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Korean shares down 0.36% in late morning trade
South Korean stocks extended losses late Friday morning as foreign investors offloaded large-cap stocks.The benchmark Korea Composite Stock Price Index lost 8.25 points, or 0.36 percent, to 2,288.12 as of 11:15 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.11 percent, with the tech-heavy Nasdaq composite index declining 0.22 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign selling of large-cap stocks worth nearly
May 12, 2017
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Korean shares open lower on Wall Street losses
South Korean stocks opened lower Friday, tracking overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index lost 5.48 points, or 0.24 percent, to 2,290.89 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.11 percent, with the tech-heavy Nasdaq composite index declining 0.22 percent.Most large-cap stocks were mixed across the board.Market bellwether Samsung Electronics Co. gained 1.01 percent, and
May 12, 2017
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36 conglomerates to face debt assessment
The Financial Supervisory Service announced Thursday that 36 conglomerates will be put under a capital structure assessment by their respective commercial lenders in a pre-emptive move to relieve the financial risks of the groups. FSS data showed the 36 enterprise groups were indebted by six banks -- Woori Bank, Korea Development Bank, KEB Hana Bank, Shinhan Bank, Kookmin Bank and NongHyup Bank. Among them, Woori Bank was the creditor of 13 groups, including Samsung Group, LG Group and CJ Group
May 11, 2017
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Kospi bounces back to all-time high, momentum revives
South Korea’s stock indices set new all-time highs after bouncing back Thursday from Wednesday’s loss in the afternoon trade on robust institutional buying, raising expectations a return of momentum to the markets. The top-tier Korea Composite Stock Price Index closed at 2,296.37, up 26.25 points or 1.16 percent from Wednesday. It reached its intraday high of 2,297.67 at around 2:55 p.m.The Kospi ended its bullish ride Wednesday, when it closed at 2,270.12.This came days after the Ko
May 11, 2017
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Prospects mixed for Moon Jae-in’s extra budget
With President Moon Jae-in ordering the establishment of a presidential committee for jobs on his first day of office, the new government is soon to come up with a follow-up fiscal plan to boost employment.During his presidential campaign, Moon vowed to draw up a 10 trillion won ($8.8 billion) supplementary budget, immediately after taking office, as the first step to support 12,000 new jobs in the public sector starting from the second half of the year. The new jobs will mainly fill a shortage
May 11, 2017
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Korea imposes levy on financial firms over foreign borrowing
South Korea has imposed a levy on financial firms' non-deposit foreign borrowing to ease volatility in capital flows, the central banks said Thursday.The Bank of Korea said 66 financial companies, including 17 local banks and 34 branches of foreign lenders, are required to pay 0.1 percent of their outstanding non-deposit foreign debt maturing in less than one year. South Korea introduced the macroprudential stability levy in 2011 to reduce capital flow volatility.South Korea has been trying to c
May 11, 2017
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Korean shares up in late morning trading
South Korean shares traded higher late Thursday morning as hopes for an economic stimulus by the nation's new administration buoyed market sentiment. The benchmark Korea Composite Stock Price Index added 18.79 points, or 0.79 percent, to 2,288.01 as of 11:20 a.m.Large caps mostly traded higher with market kingpin Samsung Electronics adding 0.53 percent, and global chipmaker SK hynix up 0.72 percent.Top automaker Hyundai Motor rose 0.64 percent, and its smaller affiliate Kia Motors traded 1
May 11, 2017
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Seoul stocks start higher on Wall Street gains
South Korean shares opened higher Thursday, tracking gains on Wall Street amid a rebound in oil prices. The benchmark Korea Composite Stock Price Index climbed 5.52 points, or 0.24 percent, to 2,275.64 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 0.22 percent.Top automaker Hyundai Motor rose 0.32 percent, and top steelmaker Posco remained flat. The local currency was trading at 1,133.50 won against the US dollar, up 2.3 won from
May 11, 2017
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[Moon in Office] Financial authorities face overhaul
President Moon Jae-in is expected to implement a sweeping overhaul of the financial authorities to reassign their roles and enhance oversight. As a presidential candidate, Moon had pledged to divide the authorities‘ roles between policymaking and regulating, and protecting financial consumers. Moon’s team had pointed to the Financial Services Commission that has been serving as a policymaker and regulator, saying the FSC had been monopolizing the roles.Moon’s economic think tan
May 10, 2017
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Kospi takes loss after hitting 2,300 in morning trade
The main bourse took a loss Wednesday mainly on foreign selling of futures, after its index hit a height of above 2,300 points in early morning trade Wednesday.The benchmark Korea Composite Stock Price Index closed at 2,270.12, down 22.64 points, or 0.99 percent, from the previous session Monday. Markets did not open Tuesday for the presidential election, where Moon Jae-in of the Democratic Party of Korea clinched a landslide victory. Opening at 2,295.25 on Wednesday, the Kospi surged to an intr
May 10, 2017
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Korean stocks retreat from pre-election rally
South Korea's main stock index fell on Wednesday as a pre-election rally ran out of steam and investors try to digest the policies of new President Moon Jae-in. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index dipped 22.64 points, or 0.99 percent, to close at 2,270.12. Trade volume reached 418 million shares changing hands worth 9.2 trillion won ($8.1 billion). The Kospi index jumped more than 2 percent on Monday to set its highest-ever close
May 10, 2017
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Korean shares catch breath in late morning trading
South Korea's main stock index swung between gains and losses late Wednesday morning as investors try to digest the policies of new President Moon Jae-in. The benchmark Korea Composite Stock Price Index rose 2.98 points, or 0.13 percent, to 2,295.74 as of 11:20 a.m. It hit a new intra-day record of 2,323.32 points at one point, but backtracked to 2,290.08 at another point. Large caps traded mixed with market kingpin Samsung Electronics falling 1.15 percent, and global chipmaker SK hynix up
May 10, 2017