Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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Pianist Lim Yunchan double winner at Gramophone Awards
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Slew of top K-pop stars ready to return from military
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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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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
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Korean shares extend rally ahead of presidential election
South Korean shares extended a rally late Monday morning amid hopes for economic stimulus a day before voters go to the polls to choose their president. The benchmark Korea Composite Stock Price Index gained 13.85 points, or 0.62 percent, to a record intra-day high of 2,255.09 as of 11:20 a.m.The Kospi index touched its highest-ever close of 2,241.24 points last week, helped by foreign buying and healthy corporate earnings. Large caps traded mixed with market kingpin Samsung Electronics remainin
May 8, 2017
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Credit card delinquencies rise 4.7% in Q1
Delinquencies at South Korea's five credit card companies rose 4.7 percent on-quarter in the first three months of this year as low interest rates pushed them to make more card loans, industry data showed Monday. Overall card loans overdue by more than 30 days rose to 955.2 billion won ($842.1 million) at the end of March, up 42.5 billion won from the end of last year. The five credit card companies are Shinhan, KB, Woori, Hana and Samsung. Excluding Shinhan, the other four companies saw t
May 8, 2017
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US direct investment in Korea falls for 1st time in 8 years
US direct investment in South Korea fell last year for the first time since the 2008 financial crisis, central bank data showed Monday.The US direct investment in South Korea totaled $33.9 billion last year, down 1 percent from $34.2 billion a year ago, according to the data compiled by the Bank of Korea. It marked the first time that the US direct investment here decreased since 2008, when it plunged 8.1 percent.In comparison, outstanding foreign investments in Asia's fourth-biggest economy cam
May 8, 2017
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Seoul stocks extend rally ahead of presidential election
South Korean shares extended a rally Monday morning after touching an all-time high last week, amid hopes for an economic stimulus a day before voters go to the polls to choose their president. The benchmark Korea Composite Stock Price Index added 4.15 points, or 0.19 percent, to 2,245.39 in the first 15 minutes of trading. Most large caps traded mixed with market kingpin Samsung Electronics gaining 0.53 percent.Top automaker Hyundai Motor fell 0.66 percent, and No. 1 steelmaker Posco declined 1
May 8, 2017
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Korea-US trade surplus down 25%, most among major trading partners
South Korea’s trade surplus with the United States dropped nearly 25 percent in the first quarter of this year, with its US trading partner ranking falling from No. 6 to No. 8, according to data from the US Department of Commerce on Sunday. Compared to last year’s first quarter, the country’s trade surplus with the US decreased by roughly $1.9 billion or 24.6 percent this year -- the largest drop recorded among America’s 10 major trading partners. India’s trad
May 7, 2017
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Listed manufacturers retire tiny portion of treasury shares: report
Most listed manufacturing firms in South Korea tend to hold or resell treasury shares instead of canceling them in order to help controlling shareholders strengthen their managerial control, a report said Sunday.According to the report by professor Kim Woo-jin of Seoul National University, treasury share cancellations by listed manufacturing companies came to 174 cases between 2004 and 2015.The figure accounted for only 2.3 percent of stock buybacks, resales and retirement conducted by all 7,428
May 7, 2017
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Foreign ownership of Korean stocks hits 10-year high: data
Foreign ownership of South Korean stocks hit a 10-year high on large-scale net buying of shares by overseas investors, market data showed Sunday.According to the Korea Exchange, overseas investors bought 6.7 trillion won ($5.9 billion) worth of shares more than they sold coming into this year. On Friday when the benchmark Kospi hit a record high, foreigners controlled over 534.1 trillion won worth of local stocks, equivalent to 36.72 percent of the aggregate value of all listed shares, the bours
May 7, 2017