Most Popular
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Raising bookworms or robots? Why private reading academies thrive
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Yoon struggles amid lowest approval rating
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LG Display unveils world's most stretchable display
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Korean shipbuilders upbeat on Trump’s call for collaboration
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Fire at Posco plant in Pohang extinguished, but raises safety concerns
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Student backlash erupts as Dongduk Women's University weighs coed future
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BTS’ Jin to spread happiness with 1st solo album ‘Happy’
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What is South Korea’s 4B movement?
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Fire erupts at POSCO Pohang plant; 1 worker injured
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[Herald Interview] JobKorea’s Klik brings jobs, community to growing foreign workforce in Korea
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Korea set to take market-stabilizing actions following US rate hike
South Korea will take market-stabilizing actions if the expected US rate hike stirs up volatility in the local market, the finance ministry here said Tuesday.The US Federal Reserve will have its two-day monetary meeting that starts later in the day, with many expecting the central bank to raise interest rates.The rate increase will likely impact the South Korean economy, which has been suffering from mounting household debt worth more than 1,300 trillion won ($1.13 trillion)."If the Fed raises r
March 14, 2017
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Korean stocks trade at 2-year high in late morning trade
South Korean stocks traded sharply higher late Tuesday morning as political chaos in the country eased after the Constitutional Court ruled to oust President Park Geun-hye and investors increased risky bets.The benchmark Korea Composite Stock Price Index rose 9.37 points, or 0.44 percent, to 2,126.96 as of 11:20 a.m., an almost 2-year high.Top market cap Samsung Electronics advanced 0.54 percent to a record high, while SK hynix, a major chipmaker, shed 0.98 percent.AmorePacific, the country's to
March 14, 2017
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Market cap of foreign-owned stocks tops W511tr
The combined market capitalization of South Korean stocks held by foreigners has exceeded 511 trillion won ($445 billion), hitting an all-time high, data showed Tuesday.Foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 points Monday, according to the Korea Exchange.The KOSPI and KOSDAQ boards at the South Korean stock market in a photo provided by Yonhap News TV (Yonhap)The total market cap swelled to 1,
March 14, 2017
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Stocks open higher on tech, automakers
South Korean stocks opened higher Tuesday, with most market heavyweights remaining in positive terrain. The benchmark Korea Composite Stock Price Index rose 8.71 points, or 0.41 percent, to 2,125.30 in the first 15 minutes of trading.On Monday, the KOSPI closed at an almost two-year high on the back of continued foreign buying.Most large caps traded higher, with market kingpin Samsung Electronics rising 0.05 percent.POSCO, the country's leading steelmaker, rose 0.89 percent, and Hyundai Motor, t
March 14, 2017
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Foreign banks' net income falls 32 % in Korea
The local branches of foreign banks in South Korea suffered a sharp drop in their net profits last year on decreased interest income, the financial watchdog said Tuesday.They posted 764.9 billion won ($668 million) in combined net profits during the year, down 31.8 percent from 2015, according to the Financial Supervisory Service, which cited preliminary data.In particular, the net interest income of the 37 foreign bank branches plunged 26.2 percent on-year to 1.1 trillion won."It means unfavora
March 14, 2017
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Small-cap stocks fluctuate despite political irrelevance
South Korean small-cap stocks, previously rumored to have connections to presidential hopefuls, showed severe fluctuations Monday, even after they publicly disclosed that they were not actually linked to politics at all.While the main bourse Kospi inched up only 0.97 percent, stocks related to dark horse South Chungcheong Province Gov. An Hee-jung rallied on the news that a new opinion poll showed he has narrowed the gap with leading presidential hopeful Moon Jae-in, former chairman of the main
March 13, 2017
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Individual savings account fever subsides
The popularity of individual savings accounts has apparently withered here on lower-than-expected rates of return, a year after the much-hyped debut of the investment vehicle, data showed Monday.The number of ISAs in South Korea peaked at 2.4 million in November last year and declined to 2.39 million in the following month and 2.36 million in January of this year, according to the Financial Services Commission. An ad for an individual savings account in a file photo (Yonhap)It also decreased by
March 13, 2017
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Seoul stocks vault to an almost 2-year high on eased uncertainties
South Korean stocks rose to the highest level in almost two years on Monday on increased risky appetites following eased political chaos in Asia's fourth-largest economy and sound economic data in the US The Korean won sharply rose against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.24 points, or 0.97 percent, to close at 2,117.59. Trade volume was moderate at 378 million shares worth 4.57 trillion won ($3.99 billion), with gainers outnumbering losers 458 to 366. M
March 13, 2017
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Korean stocks up more than 1% in late morning trade
South Korean stocks traded sharply higher late Monday morning as political chaos in the country eased after the Constitutional Court ruled to oust President Park Geun-hye and investors increased risky bets.The benchmark Korea Composite Stock Price Index rose 22.95 points, or 1.09 percent, to 2,120.30 as of 11:20 a.m. An image depicting the stock market (123RF)Top market cap Samsung Electronics advanced 1.79 percent to a record high, major chipmaker SK hynix jumped 3.05 percent, and top automaker
March 13, 2017
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Regulator warns of new-type cyber threats to financial networks
A top South Korean regulator called Monday for more efforts to protect the country's financial networks amid concern about possible cyber attacks especially by North Korea.The military has already bolstered its defense posture since the nation's president was ousted last week by a court verdict over an influence-peddling scandal, with a new leader to be elected in two months. The financial authorities are closely monitoring any sign of market instability. Jeong Eun-bo (left), vice chairman of th
March 13, 2017
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Majority of Korean firms expect worse conditions, plan to cut investment in US
A majority of South Korean businesses in the United States expect additional difficulties down the road due to what many view as protectionist trade policies of the new US administration, a survey showed Monday.More than 7 out of every 10 respondents said they were already facing difficulties in setting up new plans for their businesses and investments in the US, according to the Korea International Trade Association. An image depicting the KORUS FTA (Yonhap)In the recent survey, jointly conduct
March 13, 2017
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Korean shares open higher on eased political uncertainties
South Korean stocks opened higher Monday on eased political uncertainties following the ouster of President Park Geun-hye over a corruption scandal.The benchmark Korea Composite Stock Price Index rose 10.88 points, or 0.52 percent, to 2,108.23 as of 9:15 a.m. An image depicting the stock market (123RF)South Korea's Constitutional Court upheld the ouster of Park on Friday, acknowledging she abused her power to help her confidante Choi Soon-sil pursue personal gains."The decision removed political
March 13, 2017
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Korea's stock market volatility at lowest level
South Korea's stock market posted the lowest level of price swings in the first two months of the year, data showed Monday.It indicates that the stock trade here was relatively lackluster with the benchmark index KOSPI stuck in a tight range. An image of South Korea's financial and industrial markets (Yonhap)The number is also indicative of the stability and resilience of the country's stock market despite a series of financial and business troubles at home and abroad.According to the Korea Exch
March 13, 2017
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Seoul remains steadfast in ensuring post-impeachment market stability
South Korea's financial authorities reaffirmed on Sunday that they will remain vigilant to ensure market stability and stave off any fallout from the ouster of President Park Geun-hye.The Constitutional Court delivered a verdict on Friday to dismiss Park over a high-profile corruption scandal involving her friend, after months-long political chaos. But the ruling is also the start of another turbulent period for Asia's fourth-largest economy as the country is still deeply divided over the ouster
March 12, 2017
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Stock market gains less than 4% under Park's term
South Korea's stock market advanced by less than 4 percent under former President Park Geun-hye's truncated administration period, far lagging behind other foreign rivals' performances, hit by a slump in economic growth and weak corporate earnings, data showed Sunday.According to the data compiled by the country's bourse operator, the Korea Exchange, the country's broader stock market index, the KOSPI, closed at 2,097.35 points Friday when the Constitutional Court delivered a verdict to oust the
March 12, 2017
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Korea to expand financing of int'l infrastructure projects
South Korea will expand participation in overseas infrastructure projects co-financed by international development banks to help its businesses tap more deeply into developing countries, the finance ministry said Sunday.The Ministry of Strategy and Finance said the state-run Economic Development Cooperation Fund will extend its reach further through cooperative agreements with five major international banks. (Yonhap)The EDCF was launched in 1987 aimed at helping developing and less-developed cou
March 12, 2017
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Regulators tighten monitoring of market risks
South Korea's financial authorities agreed Saturday to tighten real-time monitoring of banks' foreign exchange liquidity and other market risks, as the country earnestly prepares for a presidential election far earlier than originally scheduled.The decision was made at an emergency meeting of senior officials at the Financial Services Commission, the Financial Supervisory Service, the Korea Exchange and the Financial Security Institute, a day after the Constitutional Court ruled in favor of impe
March 11, 2017
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Korea's currency value not to be swayed by US blacklist
Even if the US designates South Korea a currency manipulator, it won't lead to a significant appreciation of the won's value, a private think tank here said Saturday.The Woori Finance Research Institute questioned the effectiveness of the possible measure by the Donald Trump administration eager to reduce the US trade deficit.The Treasury Department included South Korea, a key US ally and trade partner, on the currency watch list last year, along with China, Japan, Germany, Taiwan and Switzerlan
March 11, 2017
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Seoul shares forecast to face increased volatility next week
South Korean shares are expected to face increased volatility next week as the US Federal Reserve is set to decide interest rates and a set of other major events are in store, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,097.35 points on Friday, up 0.89 percent from a week ago.This week, the local stock market started a tad higher on continued foreign investors' buying binge, and top market cap Samsung Electronics extended gains on a rosy outlook for its ear
March 11, 2017
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Bond funds suffer massive outflows amid rate hike concerns
Funds that have invested in domestic bonds have suffered massive cash outflows as investors pulled part of their money out of the funds amid concerns over a rate hike in the US, industry data showed Saturday.According to the data compiled by industry tracker FNGuide, domestic funds have logged an outflow of some 1.1 trillion won ($945 million) so far this year through Thursday, as concerns over rate hikes in the US have emerged.Bond yields have been on a steady rise since the second half of last
March 11, 2017