Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
[Eye Plus] Letting go
After hours of strenuous waiting, standing against the wicked winter winds, those who have flocked to scenic viewpoints stare in awe at the sea’s horizon.On South Korea’s west coast, the gleaming yellow sun in the ruddy sky inches closer to the horizon. Hues spread along the horizon get overwhelmingly richer, creating more dazzling reflections off the waters of the Yellow Sea. Soon, the blinding glare gives way to red-tinged dusk, as the sun goes out of sight, down the horizon.It was worth the h
Travel Dec. 27, 2018
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Korean stocks to take biggest yearly slump since 2008 financial crisis
South Korea’s stock market indexes in 2018 are set to mark the largest yearly slump in a decade since the global financial crisis hit Asia’s fourth-largest economy in 2008.As of the Wednesday session’s close, the main bourse index Kospi fell 17.8 percent since Jan. 2 this year, while the second-tier market benchmark Kosdaq slid 16.6 percent, according to data from the Korea Exchange on Thursday. Both figures indicate the largest gap since 2008, when the Kospi plunged 40.7 perce
Market Dec. 27, 2018
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Korean stocks drift lower on Trump fears
South Korea’s stock market indexes drifted lower Wednesday on prevailing risk-averse investor sentiment due to uncertainties in the United States. The main bourse benchmark Kospi closed at 2,028.01, down 1.3 percent, while the second-tier benchmark Kosdaq slid 0.6 percent to close at 665.74. Both markets suffered strong net sales from retail investors. They net sold stocks worth 468.1 billion won ($415.8 million) on the main bourse and shares worth 348.7 billion won on the second-tie
Market Dec. 26, 2018
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Hyundai Engineering donates disaster-resistant modular houses
South Korean engineering and construction services provider Hyundai Engineering said Wednesday that it donated five units of modular homes to residents of aged buildings vulnerable to risks of natural disasters on Friday. Modular homes refer to prefab buildings for residential purposes. Such buildings involve a construction method in which sections of a house are manufactured away from a construction site, then delivered to the site and installed there.Representatives of Hyundai Engineering, Hop
Industry Dec. 26, 2018
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Dividends of Kospi-listed firms expected to rise for 6th straight year
The size of annual dividends of Kospi-listed firms is likely to jump for the sixth consecutive year this year, partly spurred by the companies’ efforts to enhance responsible shareholder engagement since 2017, data showed Tuesday. The volume of dividends from ordinary shares and preferred shares trading on the Kospi throughout 2018 will unprecedentedly top a combined 30 trillion won ($26.6 billion), unless the year-end dividend shrinks by over 4 percent to 20.9 trillion won compared to the
Market Dec. 25, 2018
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Korea to add two more internet-only banks
South Korea’s financial authorities announced Sunday plans to introduce at most two internet-only banks within the next two years, in an apparent move to ramp up competition in a market in the course of deregulation.Business entities with plans to operate new banks without brick-and-mortar branches will be granted preliminary regulatory approval by the Financial Services Commission by May 2019, according to the FSC’s plans. The application will be accepted by March. Considering times
Market Dec. 23, 2018
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Capital raised through IPO lowest in 5 years
The annual volume of capital raised through initial public offerings in the South Korean stock market this year is expected to mark the lowest in five years, amid volatile sessions throughout 2018 due to external uncertainties, data showed Sunday.Some 2.8 trillion won ($2.4 billion) in equity capital is expected to be raised through IPOs in Korea’s markets by the end of the year, according to data from the Korea Exchange, the sole market operator. The figure included the anticipated raise
Market Dec. 23, 2018
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Authorities vow closer watch on US rate hike repercussion
South Korea’s central bank has vowed closer monitoring in domestic financial markets to brace for potential volatile capital flows following a US rate hike Wednesday, while the financial watchdog reviewed a contingency plan of the national financial system. The Bank of Korea said Thursday it held an emergency meeting led by BOK Deputy Gov. Huh Jin-ho to keep close tabs on the possible consequences of the US Federal Reserve’s decision and its persisting hawkish stance in monetary poli
Market Dec. 20, 2018
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Rate differentials have minor impact on foreign bond capital outflow: BOK
The interest rate differentials between the United States and South Korea have had a negligible effect on the outflow of foreign capital from the domestic bond market, showed a study by Korea’s central bank on Wednesday. This finding stood in contrast to widespread views that foreign capital outflow from the Korean financial market would be accelerated if the base rate of the US Federal Reserve were higher than the Bank of Korea. The study, “Determinants of Capital Flows in the
Market Dec. 19, 2018
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BOK chief warns of risk, lack of driver of economic growth
The head of South Korea’s central bank on Tuesday warned of persisting internal and external risks in Asia’s fourth-largest economy and the lack of a driver for economic growth other than semiconductor businesses within the next five years. In a press conference Tuesday evening, Bank of Korea Gov. Lee Ju-yeol said Korea has yet to come up with an alternative in the face of the downturn of the semiconductor-making business, mainly led by market giants, such as Samsung Electronics and
Economy Dec. 19, 2018
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Short-term bond yield inches closer to base rate
South Korea’s short-term sovereign bond yield has hovered just above the base rate, due to lingering market impact from the government’s plan to repurchase bonds before maturity and market uncertainties at home and abroad.The three-year sovereign bond yield came to 1.795 percent at the Monday session’s close, showed data from the Korea Financial Investment Association. On Friday, the bond yield recorded its lowest figure since September 2017 at 1.781 percent.The bond yield move
Market Dec. 17, 2018
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Lotte to sell off private financing unit
Lotte Group is poised to sell its financing unit Lotte Capital and discuss the matter in the respective board of directors meetings of its shareholding Lotte subsidiaries this week, according to a news report Monday. Lotte Capital is a privately held finance service provider dedicated to installment financing and facility leasing. Nearly 90 percent of shares are owned by Lotte subsidiaries and affiliates. Hotel Lotte owns 39.37 percent of stocks, Lotte Corporation has 25.64 percent, Lotte Engine
Market Dec. 17, 2018
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Delisting of pharma firm sparks debate on market fairness
The South Korean market operator’s decision to delist a local pharmaceuticals company is raising questions about the fairness in authorities’ action against firms accused of accounting errors, with investors comparing the case to that of Samsung BioLogics. A panel led by the Korea Exchange, the nation’s sole market operator, suggested Friday the removal of Kyung Nam Pharm, a Seoul-headquartered pharmaceutical company, from the second-tier Kosdaq market, putting the fate of the
Market Dec. 16, 2018
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Korean stock market on bull run on signs of trade war thaw
South Korea’s stock market benchmark indexes were moderately higher Thursday on signs of abating trade strife between the United States and China. The top-tier benchmark Kospi inched up 0.6 percent higher than the previous trading day’s close, while the second-tier Kosdaq ticked up 0.8 percent. On the main bourse, foreign investors net purchased shares worth 484.4 billion won ($431.3 million). Domestic institutional investors net sold stocks worth 311.7 billion won, ending a net buyi
Market Dec. 13, 2018
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Korean golf course operator hits price ceiling on Jim Rogers nomination news
A listed South Korean golf course operator with a track record of doing business in North Korea hit the price ceiling Tuesday on anticipation that US business guru Jim Rogers had been nominated as the sole candidate to become the company’s outside director. Ananti, listed on second-tier bourse Kosdaq, rose 26.8 percent from Monday’s closing price. It touched the price ceiling at 12,800 won ($11.30), trading 29.8 percent higher, in late afternoon intraday trade. Ananti was the 26th-la
Market Dec. 11, 2018
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