Markets in South Korea were moderately mixed Thursday, while analysts here noted that dovish decisions in the United States would leave the market free of immediate impacts, citing the unlikelihood of a rate hike by the Korean central bank at least until the end of this year.The top-tier stock market index took a breather Thursday. The Kospi closed at 2,546.36, down 0.4 percent from Wednesday’s close. This marked an end to the record run that lasted for the four previous days, which lifted

Market Nov. 2, 2017

Korea Investment & Securities, Korea‘s fifth-largest securities firm by net worth, moved a step closer in obtaining the rights to lend to local corporations, and is now awaiting the approval of the country’s top regulator, expected next week. On Wednesday, the Securities and Futures Commission sent approval of the short-term debt instrument license of Korea Investment & Securities to its umbrella body and Korea’s top financial watchdog, the Financial Services Commission

Market Nov. 2, 2017

Kookmin Bank celebrated its 16th anniversary on Wednesday, amid anticipations that it would become the nation’s largest commercial bank this year.Yoon Jong-kyoo, chief executive officer of KB Financial Group and its flagship Kookmin Bank, said 2017 is “(the bank’s) first year as a leading bank” in a speech at the anniversary event. This came days after KB Financial Group and Kookmin Bank were found to have both outperformed Shinhan Financial Group and its commercial Shinh

Market Nov. 1, 2017

South Korean consumers’ card transactions in the third quarter this year jumped 14.5 percent on-year, while consumer card payments soared 11.9 percent, partly on the back of a 10-day holiday early in September and the rise in car purchases on the domestic market, data showed Wednesday.Consumers made nearly 4.5 billion card transactions, accounting for over 90 percent of all debit and credit card transactions in the third quarter, according to an estimate from the Credit Finance Association

Market Nov. 1, 2017

South Korea’s sole market operator, the Korea Exchange, announced Tuesday that Jung Ji-won, chief executive officer of Korea Securities Finance Corp., will take the helm of the firm starting Thursday. The KRX also announced Won Jong-seok, chief executive officer and director of Shinyoung Securities, will become a non-executive director starting Thursday.Jung and Won will serve for three years.The KRX experienced a monthlong leadership vacuum, after former chairman Jeong Chan-woo left the K

Market Oct. 31, 2017

Brokerages in South Korea have commercialized blockchain technology to build a more secured infrastructure to benefit both users and the firms, according to the Korea Financial Investment Association Tuesday.This marked the first time in the world that financial investment firms have offered customers a decentralized platform for authentication, Kofia Chairman Hwang Young-key said in an opening speech. Through the service dubbed “Chain ID,” based on the Kofia-led consortium’s o

Market Oct. 31, 2017

Since its inception, the state-run Korea Forest Service has been striving to turn wasteland into forests in the 1970s and to cultivate forestry resources since late 1980s.The decadeslong state-led efforts appears to be paying off. The copious volume of forests now provides not just environmental benefits but also act as commercial assets and public goods, according to the KFS.(Yonhap)South Korea has 6.3 million hectares of forest, covering 63.2 percent of its land, as of 2015, the fourth-highest

Industry Oct. 31, 2017

South Korea’s main stock market index Kospi closed above 2,500 on Monday for the first time in history.The Kospi finished the day at 2,501.93 Monday, up 0.21 percent from Friday, extending the record run for the second straight day. The index recorded an all-time intraday high of 2,513.87 in early morning trade. Samsung Electronics and chipmaker SK hynix, both market bellwethers, jumped 1.8 percent.Both individual investors and foreign investors net purchased stocks worth over 250 billion

Market Oct. 30, 2017

Hyundai Steel, South Korea‘s second-largest steelmaker by market cap, has “sought coexistence” through a tech expo held Oct. 24-26 to promote local small and medium-sized enterprises in the steel industry. Participants view a component at a tech expo held at the Hyundai Steel Dangjin steel mill on Oct. 24. (Hyundai Steel)The three-day event presented promotion booths of some 60 partnering SMEs at home and abroad. The annual event took place at the Dangjin steel mill owned by the steelmaking arm

Industry Oct. 30, 2017

This is the 44th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdIn its seven years of operation, Pearl Abyss has produced just one game -- “Black Desert Online” – but after a weak debut last month its shares have risen 30 percent. Debuting on Sept. 14 on the second-tier Kosdaq, the game developer, based in Anyang, Gyeonggi Province, has been on a tear in the market for the last two weeks. Pearl Abyss shares gained 28.7 percent the

Market Oct. 29, 2017

The Korea Herald is publishing a series of interviews on promising startups in the fintech industry. This is the 3rd installment. -- Ed. The culture of crowdfunding is belatedly, yet significantly permeating through venture startups in South Korea, as the number of patient investors begin to increase, looking for a sense of accomplishment beyond immediate profits. Behind the trend is Korea’s longest-standing crowdfunding platform Wadiz, whose chief executive says the link that had been missing -

Technology Oct. 29, 2017

The South Korean government on Thursday expressed its intention to join a bid to build nuclear power plants in Saudi Arabia, the world’s top oil exporter, which is seeking to adopt its first such commercial reactors. The country is reportedly reaching out to potential bidders in France, China, Russia, Japan and Korea.Paik Un-gyu, Korea’s minister of trade, industry and energy, expressed the intent to bid in the tender to Adel bin Muhammad Fakeih, the Saudi Arabian minister of economy and plannin

Industry Oct. 26, 2017

The latest set of measures to strengthen South Korean mortgage borrowers’ debt repayment obligations was within market expectation and has defused uncertainties on the stock market, analysts said Wednesday. The toughened mortgage rules, unveiled Tuesday to curb snowballing national household debt, would help local banks and builders on the stock market benefit from abated uncertainties, the stock analysts said. “The Tuesday measure indicated the government’s moves have been and

Market Oct. 25, 2017

Newly designed walls have been created in an underground tunnel that connects a subway station and a shopping mall in Seoul, according to Daewoo Engineering & Construction on Tuesday.The underpass, which connects Hapjeong Station on Subway Lines No. 2 and No. 6 and the shopping center Delight Square, features shelves filled with replicas of books. Daewoo E&C, which built Delight Square, has dubbed it a “book tunnel.”  An interior view of an underground tunnel between Delight Square and Hapjeong

Industry Oct. 24, 2017

Jung Ji-won, chief executive officer of Korea Securities Finance Corp., was named Tuesday as the single candidate for the new chairman of the Korea Exchange, the operator of the Kospi and Kosdaq.  The Busan-based KRX announced Jung had become the sole candidate after interviewing Jung and his contender Choi Bang-gil, former chief executive at Shinhan BNP Paribas Asset Management.The announcement came about two months after former Chairman Jeong Chan-woo offered to step down from the post on

Market Oct. 24, 2017