South Korean shares advanced Friday as investors scooped up oversold stocks and pinned hopes for expanded business ties between South Korea and the United States. The Korean won steeply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.95 points, or 1.81 percent, to close at 2,639.29 points. After a volatile week from high inflation, the key stock index gained 1.35 percent from a week ago. Friday's trading volume was moderate at about 743 million s

South Korean shares opened higher Friday, buoyed by strong advances by tech and auto heavyweights, despite overnight falls on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) had added 25.64 points, or 0.99 percent, to trade at 2,617.98 points as of 9:15 a.m. On Thursday, the index dipped 1.28 percent. Overnight, the Dow Jones Industrial Average and the tech-heavy Nasdaq composite declined, largely on continued pressure on inflation hikes. KOSPI's top cap Samsung Electro

Seoul shares dropped by over 1 percent to snap their two-day winning streak, as investors' appetite for risky assets fell amid fears about high-flying inflation pressure that sparked a massive sell-off on Wall Street. The Korean won steeply fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) retreated 33.64 points, or 1.28 percent, to close at 2,592.34 points. Trading volume was moderate at about 663 million shares worth some 9.7 trillion won ($7.6 billion), with loser

Five Koreans who invested in terraUSD and luna sue co-founders of Terraform Labs, the company behind the troubled cryptocurrencies

Seoul shares opened steeply lower Thursday, tracking an overnight plunge on Wall Street that stemmed from fears about high-flying inflation pressure. The Korea Composite Stock Price Index (KOSPI) fell 47.02 points, or 1.79 percent, to 2,578.96 points in the first 15 minutes of trading. The S&P 500 sank 4.04 percent Thursday, the sharpest drop since June 2020, as high inflation and lackluster earnings by giant retailers stoked concerns about a possible recession. The Dow Jones Industrial Average

The Seoul Southern District Prosecutors Office said Wednesday that it has reinstated the joint team on financial and securities fraud that was disbanded by the previous Moon government, a day after the new justice minister called for it at his inauguration. The joint team, which was set up in 2013 but dissolved in 2020 amid criticisms that prosecutors abused their authority, epitomized the power and influence wielded by the prosecution. The team, dubbed the market’s “angel of death,

South Korean shares opened higher Wednesday, tracking overnight rallies on Wall Street amid lingering uncertainty over higher inflation and combative monetary tightening in major economies. The Korea Composite Stock Price Index (KOSPI) rose 23.55 points, or 0.90 percent, to 2,643.99 in the first 15 minutes of trading. Overnight, US stocks closed higher, boosted by a rally in tech stocks, in the face of Federal Reserve Chair Jerome Powell's hawkish comments. Powell said the Fed was ready to act a

South Korean shares rose nearly 1 percent Tuesday as investors picked up recently downbeat issues, including Samsung Electronics, amid worries over inflation and aggressive monetary tightening in major economies. The Korean won gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 23.86 points, or 0.92 percent, to close at 2,620.44 points. Trading volume was moderate at about 859 million shares worth some 9.3 trillion won ($7.3 billion), with gainers

South Korean shares opened higher Tuesday on institutional buying despite persistent worries over inflation and aggressive monetary tightening in major economies. The Korea Composite Stock Price Index (KOSPI) rose 16.51 points, or 0.64 percent, to 2,613.09 in the first 15 minutes of trading. Overnight, US stocks ended mixed over the latest disappointing economic data from the US and China. Adding to investor anxiety is the Federal Reserve's monetary tightening to tackle inflation and the war in

Financial authorities closely monitoring the issue, but lacking legal grounds to take action

Chief of US ETF issuer believes growing K-pop movement in the US will attract investors, expresses hope to expand partnership with Korean businesses

South Korea's main stock market saw its trading volume shrink more than 16 percent this month from a year earlier, data showed Monday, as investors remained on the sidelines amid inflation worries and other negatives. The daily trading volume of the country's main bourse averaged 940 million shares during 10 sessions between May 2 and Friday, down 16.4 percent from a year ago, according to the data from the Korea Exchange. In particular, the average daily trading volume of the top 10 caps, exclu

Seoul shares opened higher Monday amid woes over high inflation, rake hikes and an economic slowdown. The Korea Composite Stock Price Index (KOSPI) rose 13.52 points, or 0.52 percent, to 2,617.76 in the first 15 minutes of trading. On Friday, Seoul shares bounced back to snap an eight-session losing streak, as investors scooped up large-cap stocks on bargain hunting. US stocks also closed higher after Federal Reserve Chair Jerome Powell reiterated the Fed was not "actively considering"

A Seoul court said Friday that it picked chemical conglomerate KG Group as the preferred bidder to acquire SsangYong Motor, a debt-ridden carmaker whose recent takeover by a local electric automaker fell apart. “We’ve looked at whether the bidder could really deliver the cash promised, given the fiasco months ago when the deal fell apart because of that,” SsangYong Motor said. The KG Group-led consortium, which includes Pavilion Private Equity, has enough cash to make the pur

Seoul shares bounced back to end higher on Friday, snapping an eight-session losing streak, as investors scooped up large-cap stocks on bargain hunting amid inflation concerns. The South Korean won rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 54.16 points, or 2.12 percent, to 2,604.24. The main index shed 5.4 percent over the past eight sessions through Thursday. The KOSPI had continued to fall as investors expect the Federal Reserve to deliver a series of big-s