Most Popular
-
1
Acting minister, US defense chief reaffirm 'ironclad' alliance regardless of politics
-
2
Ruling, opposition parties butt heads over acting president's authority
-
3
Medical student sentenced to 26 yrs in prison for murdering his girlfriend
-
4
After Disney+ adaptation, 'Light Shop' webtoon sees explosive popularity
-
5
[Editorial] Bracing for Trump
-
6
Vincent van Gogh's exhibition in Seoul explores his decade-long career
-
7
National Assembly’s impeachment committee readies for 1st hearing next week
-
8
[Lee Byung-jong] The perils of political leadership
-
9
Actor Kim Tae-ri to showcase hanbok on Times Square billboard on Christmas Eve
-
10
Heavy snow, cold wave expected this weekend
-
KB Kookmin Bank sells $400m in bonds in Taiwan
South Korea's top lender KB Kookmin Bank said Friday that it has successfully issued $400 million worth of bonds in Taiwan, becoming the first local bank to do so.The Formosa bonds will mature in five years and carry a floating rate with the spread set at 0.95 percentage point plus the three-month London Interbank Offered Rate, a benchmark interest rate in the global financial market, the bank said. Formosa bonds refer to bonds issued in Taiwan but denominated in a currency other than the Taiwan
May 26, 2017
-
Foreign investors’ daily trading hits record
The average daily stock trading by foreign investors reached nearly 2 trillion won ($1.78 billion) this month, the highest ever in recorded history, according to the Korea Exchange on Friday. In the past 25 days, the average trading value by foreigners for Korean stocks has been 1.99 trillion won, marking the highest value recorded since the Korea Composite Stock Price Index started collecting foreign investors’ data from April 2005. The previous record was 1.9 trillion won in October 2007
May 26, 2017
-
Seoul shares up 0.42% in late-morning trade
South Korean stocks traded 0.42 percent higher late Friday morning, led by gains in logistics and tech firms, analysts said. The benchmark Korea Composite Stock Price Index rose 9.73 points, or 0.42 percent, to 2,352.66 as of 11:20 a.m.CJ Logistics climbed 1.3 percent, and market bellwether Samsung Electronics gained 0.6 percent. In contrast, autos trended lower. Top automaker Hyundai Motor was down 0.6 percent, with its smaller affiliate Kia Motors falling 0.4 percent. The local currency was ch
May 26, 2017
-
Seoul shares open tad higher after rally
South Korean stocks opened with a marginal gain on Friday, taking a breather from the previous session's rally that hit an all-time high, analysts said. The benchmark Korea Composite Stock Price Index was up 0.91 point, or 0.04 percent to trade at 2,343.84 in the first 15 minutes of trading.The main index closed at a record high on Thursday, fueled by the rate freeze of the central bank, which hinted at an upward adjustment of its growth outlook from the current forecast of 2.6 percent, citing r
May 26, 2017
-
Stock-related floating money rises steadily amid uncertainty
Money floating around the South Korean stock market has grown steadily this year as investors park funds in short-term equity-related vehicles amid financial uncertainty and a recent market rally, data showed Friday.The amount of money sitting idle around the local equity market came to 298 trillion won ($266 billion) as of Thursday, up 12.4 percent from the end of 2016, according to the data by the Korea Financial Investment Association. The figure includes 23.6 trillion won in investor deposit
May 26, 2017
-
NPS to expand stock investment to 45% by 2022
South Korea’s pension behemoth the National Pension Service said it has decided to allocate more funds in stock investment, up to 45 percent of the total fund, by 2022.Currently managing about 563 trillion won ($503 billion) fund, the NPS’ fund management committee decided on the five-year investment portfolio during 2018-2022 in a meeting at a hotel in Seoul, Thursday. According to the latest decision, the nation’s largest institutional investor will expand stock investment fr
May 25, 2017
-
Kospi carries on record run on world rally
The benchmark index of South Korea‘s main bourse continued its run into an unprecedented high for the fourth straight trading day Thursday, riding on the US market rallies after the release of the US Federal Reserve’s meeting minutes. The Korea Composite Stock Price Index closed at record-high at 2,342.93, rising 1.1 percent compared to Wednesday. The top-tier stock market opened a tad higher at 2,325.49 compared to record closing Wednesday at 2,317.34. The index began to hover at ar
May 25, 2017
-
Moon’s transition team urges FSC to find new ways to control debt
The head of President Moon Jae-in’s de facto transition team Thursday urged the Financial Services Commission to adopt a new way to curb household debt and speed up liquidation of debt-ridden firms. Kim Jin-pyo, chairman of the State Affairs Planning Advisory Committee, raised the question of the viability of the current measure to tackle what he called “persisting economic woes in the perspectives of pundits and offshore ratings agencies” in a session with the financial regul
May 25, 2017
-
SC Bank runs promotion for first-time asset management customers
Standard Chartered Bank Korea is holding an appreciation event until the end of May offering Shinsegae mobile gift certificates to all customers who sign up for its asset management services. The bank said that a first-time customer will be given a mobile gift card worth up to 30,000 won ($27) on all asset services that exceed 1 million won. To qualify for the gift card event, accounts and balances must be maintained until the end of the event date. Money market funds and savings accounts
May 25, 2017
-
Korean shares up in late morning trade
South Korean shares traded higher late Thursday morning and are poised to close at a fresh record high, as foreign and institutional buyers scooped up market heavyweights amid upward momentum, analysts said.The benchmark Korea Composite Stock Price Index sharply gained 21.88 points, or 0.94 percent, to 2,339.22 as of 11:20 a.m.Large caps on the Seoul bourse were mostly bullish, with telecom and steel shares leading the gains.Market behemoth Samsung Electronics increased 1.07 percent, and major c
May 25, 2017
-
Dividend payouts to foreign investors up 18.9% in 2016
Dividend payouts by South Korean listed firms to foreign investors rose 18.9 percent on year last year, data showed Thursday, in a move that could help offshore investors regain confidence in the nation's stock market. Companies whose fiscal year ends on Dec. 31 made a total of 8.79 trillion won ($7.78 billion) in dividend payments to foreign investors, according to the data by the Korea Securities Depository. The Kospi market paid 8.64 trillion won in dividends to foreign investors, while
May 25, 2017
-
Seoul shares open higher on Wall Street gains
South Korean stocks opened higher Thursday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 6.71 points, or 0.29 percent, to 2,324.05 in the first 15 minutes of trading.On Wednesday, US stocks rose to post a five-day winning streak on tech gains. The Dow Jones industrial average was up 0.4 percent to 21,012.42, and the Nasdaq Composite Index gained 0.4 percent to 6,163.02. Large caps on the Seoul bourse were mostly bullish, with teleco
May 25, 2017
-
Woori Bank introduces robo advisers
Woori Bank has launched an artificial intelligence-based financial adviser, or “robo adviser,” as well as robots built for customer assistance at local branches. The nation’s fourth-largest commercial bank announced Wednesday the AI-based program “Woori Robo-Alpha” will reach out to customers to offer asset management portfolios “tailored to their investment propensity,” starting Wednesday. Woori Robo-Alpha also suggests users balance investment portfoli
May 24, 2017
-
Kospi ceilingless for 3 consecutive days
The first-tier stock market in South Korea remained ceilingless for three consecutive days Wednesday. The benchmark Korea Composite Stock Price Index closed at 2,317.34, up 0.24 percent compared to Tuesday closing at a record-high 2,311.74, despite losses in gains from early morning trade.Opening at 2,318.86, the Kospi peaked at 2,322.54 in about 10 minutes -- the highest in history. The index hovered at around 2,315 since late morning trade. The second-tier Korean Securities Dealers Automated Q
May 24, 2017
-
Seoul stocks hit fresh record high on Wall Street rally
South Korean shares extended their winning streak to a fourth day to end at a fresh record high Wednesday, taking a cue from overnight gains on Wall Street, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index added 5.66 points, or 0.24 percent, to reach an all-time high of 2,317.34. Trade volume was slim at 380.45 million shares worth 5.35 trillion won ($4.8 billion), with advancers outnumbering losers 483 to 323.Institutions bought a net 75.1
May 24, 2017
-
Finance Ministry poised to propose W10tr supplementary budget next month
The Finance Ministry said Wednesday that the government will release a road map by the end of June on how to create jobs in the public sector, alluding to a 10 trillion won ($8.89 billion) supplementary budget proposal by President Moon Jae-in.In a report to the State Affairs Planning Advisory Committee, Moon’s de facto transition team, the ministry said that the government would speed up the preparation for the extra budget plan to be presented to the National Assembly by next month. 
May 24, 2017
-
14 offenders fined W2.4b for illegal trading of Hanmi Pharm stocks
The South Korean financial regulator has fined 14 individuals a combined 2.4 billion won ($2.1 million) for using undisclosed information to avoid losses through stock trading of Hanmi Pharmaceutical, a leading local drug firm, in September last year. The Financial Services Commission said its securities and futures commission made the decision Wednesday to impose massive fines on individuals for disrupting market order. This included the largest fine to be imposed on an individual, reaching as
May 24, 2017
-
Korean shares up in late morning trade
South Korean shares traded higher late Wednesday morning, set to close at a fresh record high, as individual buyers scooped up market heavyweights amid upward momentum, analysts said.The benchmark Korea Composite Stock Price Index gained 4.52 points, or 0.2 percent, to 2,316.26 as of 11:20 a.m.Large caps on the Seoul bourse were largely mixed.Market behemoth Samsung Electronics remained unchanged after opening higher as investors tried to cash in recent gains. Its smaller rival LG Electronics, m
May 24, 2017
-
Seoul shares open higher on Wall Street gains
South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 9.28 points, or 0.4 percent, to 2,321.02 in the first 15 minutes of trading.On Tuesday, US stocks rose to post a four-day winning streak.The Dow Jones industrial average was up 0.21 percent, to 20,937.91 and the Nasdaq Composite Index gained 0.08 percent, to 6,138.71. Large caps on the Seoul bourse were mostly bullish, with tech and medical sha
May 24, 2017
-
Koreans' overseas stock investment jumps 40% this year
South Koreans' overseas stock investment has jumped nearly 40 percent in 2017 from a year ago, data showed Wednesday, as retail investors apparently turn to foreign markets amid a domestic rally dominated by large caps.According to the data by the Korea Securities Depository, local investors' direct transactions of stocks traded overseas came to $6.32 billion as of Friday, up 39.9 percent from the same period a year earlier.The balance of foreign-traded stocks deposited at the clearing agency th
May 24, 2017