Korean shares down in late morning trading

South Korean shares traded lower late Friday morning, as investors opted to cash in part of their recent gains.The benchmark Korea Composite Stock Price Index shed 10.34 points, or 0.43 percent, to 2,385.32 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 1.34 percent, and global chipmaker SK hynix down 1.75 percent.Top automaker Hyundai Motor fell 0.93 percent, and its smaller affiliate Kia Motors traded 0.66 percent lower.POSCO, the No. 1 steelmaker, adva

June 30, 2017

Seoul stocks open lower on Wall Street drop

South Korea's main stock index retreated from an all-time high Friday, tracking declines on Wall Street overnight. The benchmark Korea Composite Stock Price Index fell 12.5 points, or 0.52 percent, to 2,383.16 in the first 15 minutes of trading. Most large caps traded mixed with market kingpin Samsung Electronics falling 1.67 percent.Top automaker Hyundai Motor remained flat, and top steelmaker POSCO slipped 0.53 percent.The local currency was trading at 1,146.75 won against the U.S. 

June 30, 2017

Kospi touches historic 2,400 mark

South Korea’s main bourse index touched 2,400 for the first time in its history in early morning trade Thursday, before closing at record-high.Opening at 2,396.81, up 0.6 percent from Wednesday’s close, the benchmark Korea Composite Stock Price Index surpassed 2,400 at around 9:50 a.m. Thursday.Following the historic touch, the Kospi closed at 2,395.66, up 0.55 percent from the day before. It marked the third this week that the Kospi hit an all-time high. Foreign and institutional in

June 29, 2017

Korea to impose higher taxes on wealthy: advisory panel

South Korea’s presidential policy advisory panel made it official Thursday that the liberal Moon Jae-in government will impose higher taxes on high-income earners and conglomerates in the long term, while continuing tax incentives for low-income households.The State Affairs Planning Advisory Committee, in charge of setting up long-term five-year policy plans, said it will seek to establish a tentatively-named “Special Committee on Taxation and Fiscal Reform” in the second half.

June 29, 2017

Seoul stocks finish at new record high on large-cap gains

South Korea's main stock index finished at a fresh record high Thursday, helped by gains in large-cap stocks amid optimism on global economic growth. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 13.1 points, or 0.55 percent, to close at 2,395.66. Trade volume was moderate at 433 million shares worth 5.38 trillion won ($4.71 billion). The local stock market opened higher, tracking overnight gains on Wall Street. On the back of a buying spree

June 29, 2017

Korean shares extend gains, KOSPI breaks 2,400 points for 1st time

South Korean shares extended their rally late Thursday morning, with the main stock index breaking through the 2,400-point level for the first time. The benchmark Korea Composite Stock Price Index rose 17.01 points, or 0.71 percent, to 2,399.57 as of 11:20 a.m. The index touched 2,402.80 at one point earlier in the day, marking its all-time intra-day high, on the back of net purchases by foreign and institutional investors. Large caps traded mixed with market kingpin Samsung Electronics adding 0

June 29, 2017

Samsung Electronics, SK hynix lead stock price hikes: data

Electronics and semiconductors have led the latest stock market boom in Asia's fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery.Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the beginning of this year, more than double the increase rate of 18.05 percent for the benchmark Korea Composite Stock Price Index, according to data

June 29, 2017

Seoul stocks start higher tracking Wall Street

South Korean shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.14 points, or 0.51 percent, to 2,394.70 in the first 15 minutes of trading. The index hit a fresh intra-day record high of 2,397.95 at one point. Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.26 percent.Top automaker Hyundai Motor fell 0.62 percent, while top steelmaker POSCO rose 0.53 percent.The local currency was tra

June 29, 2017

Seoul stocks retreat from all-time high on foreign sell-offs

South Korean stocks slumped on Wednesday, retreating from the previous session's all-time high, as foreign investors remained net sellers. The Korean won declined against the US dollar. The benchmark Korea Composite Stock Price Index declined 9.39 points, or 0.39 percent, to close at 2,382.56. Trade volume was moderate at 340 million shares worth 5.79 trillion won ($5.06 billion). The local stock market opened lower with subdued sentiment after a key vote on US President Donald Trump's heal

June 28, 2017

30% of senior citizens received pensions in 2016: report

The percentage of elderly South Koreans receiving public or private pensions stood at 30 percent in 2016, a government report showed Wednesday.The report by the Board of Audit and Inspection, which analyzed data by the NPS and private insurance companies, showed many people remaining unprotected by the country's social security net, although measures are being taken to correct the situation. The government expects the coverage will likely rise to 37 percent in 2020, 42.3 percent in 2030 and 55.5

June 28, 2017

Korean shares down in late morning trading

South Korean shares traded lower late Wednesday morning as sentiment subdued after a key vote on US President Donald Trump's healthcare reform was delayed. The benchmark Korea Composite Stock Price Index fell 6.17 points, or 0.26 percent, to 2,385.78 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 1.37 percent and global chipmaker SK hynix down 1.59 percent.Top automaker Hyundai Motor rose 0.31 percent, and its smaller affiliate Kia Motors traded

June 28, 2017

Chipmaking, petrochemical sectors to benefit from bullish market: report

South Korea's chipmaking and petrochemical sectors are positioned to benefit the most from the ongoing global economic recovery, with the sectors' exports expected to remain bullish moving forward, a report showed on Wednesday.IBK Economic Research Institute, a research arm of Industrial Bank of Korea, said in the report that small and mid-sized firms in the sectors are poised to gain from the upward business cycle.The country's exports of computer chips reached $20.2 billion in the first quarte

June 28, 2017

[Advertorial] KDB Foundation begins 2017 art education for marginalized kids

The state-run Korea Development Bank said Tuesday its KDB Foundation has begun its annual art education project for elementary school children in low-income households, as part of its long-term social corporate responsibility activities.Initiated in 2014, the annual program invites scores of elementary school students in the third to sixth grades in low-income households and offers them 18 rounds of integrated art education in cooperation with Dongdeok Women’s University’s art educat

June 27, 2017

Seoul stocks close at all-time high for 2nd session

South Korean stocks closed at an all-time high Tuesday for a second straight session, helped by a net purchase by retail investors. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index climbed 3.29 points, or 0.14 percent, to close at 2,391.95. Trade volume was moderate at 289 million shares worth 5.2 trillion won ($4.5 billion). The local stock market opened lower on profit-taking but turned positive on the back of retail investors' buying. Individual invest

June 27, 2017

Banks urged to mitigate risks from household lending

Financial authorities have urged banks to take measures to mitigate risks from household lending, before tightening rules on home lending early next month, an official said Tuesday. At a meeting with heads of some 20 retail banks on Monday, Financial Supervisory Service Governor Zhin Woong-seob called for them to improve their risk and compliance management, according to an FSS official who attended the meeting.Effective next Monday, the lending ceiling for homes located in areas designated by t

June 27, 2017

Korean shares hit fresh intraday high on retail buying

South Korean shares hit a fresh intra-day high late Tuesday morning, thanks to a retail investor buying spree. The benchmark Korea Composite Stock Price Index gained 1.51 points, or 0.06 percent, to 2,390.17 as of 11:20 a.m. The index rose to as high as 2,391.86 at one point in morning trading.  Large caps traded mixed with market kingpin Samsung Electronics falling 0.25 percent, while global chipmaker SK hynix surged 1.48 percent.Top automaker Hyundai Motor fell 1.52 percent and its smalle

June 27, 2017

Oil-focused funds lose big on falling crude prices

South Korea's three oil commodity exchange traded funds have posted abysmal returns over the past month due to falling international crude prices, a fund evaluation firm said Tuesday.With crude prices on the skids for five weeks running, the oil ETFs chalked up an average return of over minus 16 percent in the month to Friday, according to Zeroin. Oil ETFs consist of either crude firm stocks or futures and derivative contracts to track the price and performance of oil, or in some cases oil-relat

June 27, 2017