Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Top accounting firms dominating corporate clientele
Accounting firms are in sharp contrast in the scale and number of their corporate clients, with the top four in the field sweeping up half of the listed companies, a state portal said Wednesday.According to securities information portal SEIBro, operated by the Korea Securities Depository, 108 accounting companies are handling 1,898 companies, averaging 17.6 corporate clients per firm. The industry's top four, however, were dominant with 50.1 percent of the clients. Samil PricewaterhouseCoopers w
April 19, 2017
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Chief of financial holding firm arrested over stock price manipulation
The head of a bank holding firm based in the country's second largest city of Busan has been arrested over allegations of stock price manipulation, court officials said Wednesday.The Busan District Court issued a warrant on Tuesday night to detain Sung Se-whan, chairman of BNK Financial Group, citing the possibility of him destroying evidence. The investigation began after the Financial Supervisory Service (FSS) asked the prosecution to look into allegations the financial group rigged its stock
April 19, 2017
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Korean shares open lower on foreign selling
South Korean stocks opened lower Wednesday on foreign selling and losses on Wall Street. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 4.42 points, or 0.21 percent, to 2,144.04 in the first 15 minutes of trading.Two major factors weighed on the main index. Foreign investors offloaded local stocks and the Dow Jones industrial average lost 0.55 percent. Tech and automobile stocks led losses, with market behemoth Samsung Electronics falling 0.58 pe
April 19, 2017
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Seoul stocks end higher on institutional buying
South Korean stocks closed higher Tuesday as institutions and foreigners became net buyers amid eased uncertainties following the United States' decision not to designate South Korea as a currency manipulator. The won fell against the dollar. The benchmark Korea Composite Stock Price Index rose 2.70 points, or 0.13 percent, to close at 2,148.46. Trade volume was moderate at 285.83 million shares worth 3.83 trillion won ($3.2 billion), with advancers outnumbering decliners 478 to 298.Earlier in t
April 18, 2017
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K bank wins 200,000 customers, W230b deposits in 15 days
K bank, South Korea’s first internet-only bank and seventh commercial bank, had drawn more than 200,000 new customers and 230 billion won ($203 million) in deposits as of Tuesday morning, data from the bank showed.Nearly half of the deposits of K bank, which officially opened for business on April 3, had come from low-cost current and savings accounts, the bank said. K bank’s current and savings account ratio marked nearly 50 percent, 1.6 times higher than the average figure of 12 co
April 18, 2017
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[News Focus] Timely or premature? Citibank’s bold move draws mixed reaction
Amid Citibank Korea’s recent decision to close down 80 percent of its physical branches nationwide, industry insiders are waiting to see how this bold push for non-face-to-face banking will stir the domestic banking industry. Citibank said slashing 101 branches is part of the company’s next generation of consumer banking strategy that emphasizes enhanced digital channels. In lieu of physical bank branches, the local unit of the US corporation will be introducing its new Cli
April 18, 2017
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Korean shares lose steam in late morning trade
South Korean stocks lost steam in late Tuesday trading as institutions turned net sellers after scooping up shares amid eased uncertainties. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index dropped 5.63 points, or 0.26 percent, to 2,140.13 as of 11:20 a.m.Institutional investors offloaded 25.01 billion won worth of stocks on profit-taking. Foreigners continued to sell stocks valued at 30.75 billion won. Investor sentiment has improved after the Unite
April 18, 2017
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Foreigners snap up S. Korean bonds despite NK jitters
Foreign investors have boosted their won-denominated bond holdings so far this year, industry data showed Tuesday, despite growing tensions on the Korean Peninsula over North Korea's nuclear and missile programs. Foreign inflows to the South Korean bond market also came in spite of the US Federal Reserve's decision to raise interest rates this year. Offshore investors have purchased a net 16.5 trillion won ($14.5 billion) worth of won-denominated bonds as of last Friday, raising their hold
April 18, 2017
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Korean shares open higher on US gains
South Korean stocks opened higher Tuesday, tracking gains on Wall Street, amid eased market uncertainties. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 5.12 points, or 0.24 percent, to 2,150.88 in the first 15 minutes of trading.Analysts expected the main index to get a boost from the United States' decision not to designate South Korea as a currency manipulator in Tuesday's session. The Dow Jones industrial average gained 0.90 percent, a
April 18, 2017
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PyeongChang 2018 signs KEB Hana Bank as main banking partner
Organizers of the 2018 PyeongChang Winter Games on Tuesday signed KEB Hana Bank as their main banking partner.The two sides recently wrapped up their negotiations that began in February and announced their deal in a ceremony at KEB Hana Bank's headquarters in central Seoul.The bank will reportedly offer 11 billion won ($9.7 million) in sponsorships, though PyeongChang had earlier said it sought 15 billion won from its top banking partner.KEB Hana Bank was picked as the preferred negotiating part
April 18, 2017
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Corporate debt sales dip 25.4% in March over uncertainty
Debt sales by South Korean companies dipped 25.4 percent on-month in March, as economic uncertainties limited corporate borrowing, data showed Tuesday.Although South Korea's exports have been showing signs of a moderate recovery, the nation's economy is confronting the prospects of protectionism by the Donald Trump administration and China's apparent economic retaliation over the deployment of an advanced US missile system in South Korea.South Korean firms issued bonds worth 10.3 trillion won ($
April 18, 2017
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Seoul stocks rise 0.51% on institutional buying
South Korean stocks closed higher Monday as institutional buying offset foreign selling amid eased uncertainties following the United States' decision not to designate South Korea as a currency manipulator. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.88 points, or 0.51 percent, to close at 2,145.76. Trade volume was moderate at 255.70 million shares worth 3.63 trillion won ($3.2 billion), with advancers outnumbering decliners 627 to 169.Anal
April 17, 2017
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Korean shares extend gains in late morning trade
South Korean stocks extended gains late Monday morning as institutions increased their stock purchases on eased market uncertainties. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.44 points, or 0.40 percent, to 2,143.32 as of 11:20 a.m."Investor sentiment has improved after the United States has not designated South Korea as a currency manipulator. It seems to be factored in the main index," Daishin Securities analyst Lee Kyoung-min sa
April 17, 2017
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Korean shares open higher on defensive stocks
South Korean stocks opened higher Monday as defensive stocks gained ground. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 6.51 points, or 0.30 percent, to 2,141.39 in the first 15 minutes of trading.Defensive stocks, that are less prone to external changes and provide constant earnings, mostly gained, with South Korea's No. 1 cosmetics company AmorePacific rising 3.0 percent and KB Financial Group jumping 5.08 percent. Keeping the main index in
April 17, 2017
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Main creditor expects ‘good result’ in DSME shipyard talks
The main creditor bank of Daewoo Shipbuilding & Marine Engineering on Sunday expected a “good result” in talks with a major bondholder that will help the shipyard stay afloat.The state-run Korea Development Bank and the National Pension Service have engaged in talks since late March to find common ground on debt rescheduling measures for the troubled shipbuilder. “We have reached a consensus on many disputed points and expect a good outcome (from the talks) at the ear
April 16, 2017
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Korea's tax burden remains one of the lowest in OECD: data
South Korea's tax burden, which has steadily risen over the years, still remains among the lowest among the group of developed market economies with high income, data showed Sunday.Data by the Paris-based Organization for Economic Cooperation and Development (OECD) showed that the tax burden ratio of Asia's fourth-largest economy stood at 18.5 percent in 2015, which is on par with Slovakia. The ratio takes into account both taxes paid to local and central governments. Corresponding numbers for J
April 16, 2017
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Seoul stocks end lower on rising geopolitical tension
South Korean stocks closed lower on Friday as investors sought safer assets amid the tension surrounding the Korean Peninsula, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 13.73 points, or 0.64 percent, to close at 2,134.88. Trade volume was slim at 343 million shares worth 3.31 trillion won ($2.9 billion), with losers outnumbering gainers 592 to 207.Despite the eased concerns, the South Korean market has been dogged by speculat
April 14, 2017
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Banks' foreign currency deposits hit record high in March
Foreign currency deposits held by banks operating in South Korea hit a record high in March as exporters deposited their dollar-denominated earnings, central bank data showed Wednesday.Outstanding foreign currency deposits held by local banks, domestic and foreign, reached $70.54 billion in March, up 3.8 percent from $67.94 billion a month earlier, the Bank of Korea said in a statement.Broken down, foreign currency deposits held by domestic lenders came to $60.33 billion in March, up from $56.45
April 14, 2017
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Govt. to release fisheries stock during fishing prohibition period
The government said Friday it will release 6,700 tons of its fisheries stock starting next week to keep prices under control during the fishing prohibition period.The prohibition period began April 1 and will continue to Aug. 11, depending on different types of net fishing. Violators are subject to legal punishment.The Ministry of Oceans and Fisheries said the government will put its fish stock on the market from April 17 to May 26, including4,500 tons of Alaska pollacks, 1,314 tons of mackerels
April 14, 2017
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Seoul shares trade lower in late morning trade
South Korean shares traded lower Friday morning as key blue chips continued to lose ground amid geopolitical concerns.The benchmark Korea Composite Stock Price Index dropped 11.35 points, or 0.53 percent, to 2,137.26 as of 11:20 a.m.Top market cap Samsung Electronics decreased 0.94 percent, and LG Electronics plunged 1.44 percent. LG Display shed 0.97 percent.Chemical firms were also among the losers, with industry leader LG Chem decreasing 0.18 and No. 1 cosmetics maker AmorePacific falling 0.3
April 14, 2017