Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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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
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Seoul stocks start higher after presidential election
South Korean shares opened higher Wednesday as political uncertainties eased with liberal former human rights lawyer Moon Jae-in beginning his five-year term as president. The benchmark Korea Composite Stock Price Index gained 16.71 points, or 0.73 percent, to set a new intra-day high of 2,309.47 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 1.36 percent.Top automaker Hyundai Motor remained flat, and top steelmaker Posco rose 1.86
May 10, 2017
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Korean stocks seen extending rally after presidential election
If history is any guide, South Korea's stock market is likely to extend its rally after voters cast their ballots to choose the country's next president. Based on market data on the bourse's performance during the first year of office of the last six presidents, market watchers expect solid gains for the benchmark Korea Composite Stock Price Index going forward.On average local stock prices gained 23.18 percent after a new chief executive was sworn into office, although in some instances the mar
May 9, 2017
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[News Focus] Speculative buying of politician-related stocks mirrors presidential race
A week ahead of Tuesday’s Election Day on May 2, conservative Hong Joon-pyo of the Liberty Korea Party climbed to the No. 2 spot in a poll for the first time ever.His spike in popularity did not go over well for the long-time first runner-up Ahn Cheol-soo of the People’s Party in terms of his winning chances, and the stocks were fast to react. The poll was conducted by news channel YTN and was one of the last polls to be released.The so-called “Ahn-themed” stocks, or stoc
May 9, 2017
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‘Kospi to set record highs under new president’
South Korea’s major stock index is likely to continue setting record highs under the new president, due to strong anticipation toward the new government, robust local corporate earnings and the improving global economy, analysts said Tuesday.The benchmark Korea Composite Stock Price Index shot up to a historic high of 2,292.76 on Monday, a day before the Tuesday presidential election, mainly buttressed by the strong buying of foreign investors.Analysts expect a further rise, saying Kospi i
May 9, 2017
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Private equity deals in Korea dip 30.4% last year
Transactions by South Korea's private equity firms slipped 30.4 percent on year in 2016 amid a lack of mega buyout deals, government data showed Tuesday. Local private equity groups invested a total of 8.9 trillion won ($7.8 billion) last year, compared with deals worth 12.8 trillion won in 2016, according to the data by the Financial Supervisory Service. In a statement, the financial regulator attributed the sharp decline to a lack of big merger deals last year. In 2015, local private equ
May 9, 2017
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Kospi extends winning streak
South Korea‘s main bourse-based index reached another all-time high Monday, following abated global uncertainties after French centrist Emmanuel Macron was elected president, as well as rising expectations of the presidential transition in South Korea. The benchmark Korea Composite Stock Price Index closed at 2,292.76, up 2.3 percent, or 51.52 points, Monday, breaking the record high set in the previous trading day of Thursday at 2,241.24. The Kospi hovered around 2,254 points from late mo
May 8, 2017
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[Monitor] Proportion of direct taxes surpasses 55%
Revenue from direct taxes accounted for a record 55.3 percent of all dues collected last year, the Finance Ministry said Sunday.Upon the government’s reform of its tax credit rules on income and transfer taxes, the percentage of direct taxes to overall revenue earnings continued to rise for the past three years.The ministry said the tax earnings reached 230 trillion won ($202.3 billion), excluding taxes on education and rural development.
May 8, 2017