South Korean stocks are likely to move in a tight range next week after a continued rally this week as investors take a breather.     Despite a surge in new daily COVID-19 cases, the Korea Composite Stock Price Index (KOSPI) closed at an all-time high of 2,633.45 points Friday, up 3.72 percent from a week ago.     The KOSPI exceed the 2,700-point mark for the first time Friday on extended foreign buying, buoyed by vaccine hopes and expectations

South Korean credit card issuer Hyundai Card announced Friday that Dive, Hyundai Card’s culture app, had won a high-profile app award two years in a row. Hosted by the Korea Internet Professionals Association, a nonprofit body that supports the local internet industry, the Smart App Award is one of the most prestigious contests for apps developed by local companies and government agencies. Its annual awards go to the best smartphone apps in six categories -- visual design, user interfa

Korean won expected to remain strong against greenback

South Korea's currency rose to a fresh 30-month high against the US dollar on Friday, propelled by signs of progress in US stimulus talks and the development of coronavirus vaccines. The won closed at 1,082.10 won per US dollar, sharply up 14.9 won from the previous session's close. It marked the strongest level since June 14, 2018, when the won closed at 1,083.10 won per US dollar. The won's rally was encouraged by prospects over a big US economic stimulus measure and breakthroughs in COVID-

South Korean stocks opened higher Friday on a continued rally by giant chipmakers, after the benchmark index closed at an all-time high the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.61 points, or 0.91 percent, to 2,720.83 in the first 15 minutes of trading. Tech, financial and steel related shares performed strongly, backed by expectations that early COVID-19 vaccine development may quicken the export-intensive economy. Overnight, the Dow Jones Indust

South Korean stocks set another all-time high Thursday despite a resurgence in new coronavirus cases, led by strong advances by chip and auto heavyweights. The Korean won sharply rose to an almost 30-month high against the US greenback. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.32 points, or 0.76 percent, to close at 2,696.22. Stock trading hours were pushed back by 1 hour due to the nationwide college entrance exam. Trading volume was moderate at about 810 million shar

Finance Minister Hong Nam-ki on Thursday reiterated his call to foster the non-memory semiconductor, fuel cell vehicle, and bio-health industries to create new growth in the post-coronavirus era. Presiding over a meeting with ministers for economic affairs in Seoul, Hong discussed strategies to nurture the so-called “big three” sectors and lead the global digitalization, among others. “The government and private sector should join forces to revitalize the coronavirus-hit econ

Reports say foreigners’ net purchase likely to reduce in Dec.

South Korea‘s first mobile-only lender K bank has secured some 650,000 new users over the past five months as it showed signs of business normalization after it resumed its lending business in July, the company said Thursday. The news brought K bank’s accumulated number of bank accounts to over 2 million as of Wednesday, according to the company, which was founded in 2017. From July to November, K bank is estimated to have attracted an average of 130,000 new users each month,

South Korea's won currency surged to a 30-month high against the US dollar Thursday and broke a key psychological level, buoyed by optimism over US stimulus talks and developments of coronavirus vaccines. The won was quoted at 1,097.00 won per US dollar at Thursday's closing, up 3.8 won from the previous session's close. It was the strongest level since June 14, 2018, when the risk-sensitive currency closed at 1,083.10 won against the US dollar. The won also broke the key psychological leve

South Korean stocks opened nearly flat Thursday on valuation pressure, after the benchmark index closed at an all-time high the previous session despite the new coronavirus concerns. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.45 point, or 0.02 percent, to 2,676.35 in the first 15 minutes of trading. Stocks traded choppy, with strong advances by chipmakers offset by institutional and foreign selling. Overnight, the Dow Jones Industrial Average edged up 0.2 percent to 29,8

South Korean stocks hit another all-time high Wednesday for the second consecutive session on the back of optimism surrounding COVID-19 vaccines and US stimulus. The Korean won sharply rose to an over 29-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 41.65 points, or 1.58 percent, to close at 2,675.9. Trading volume was high at 1.05 billion shares worth around 16.9 trillion won ($15.3 billion), with gainers outnumbering losers 475 to 353. Forei

Buoyed by foreign investors’ buying, Kospi again hits all-time closing high of 2,675.90

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street amid optimism surrounding the possible availability of COVID-19 vaccines. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.16 points, or 0.92 percent, to 2,658.41 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.63 percent higher, while the tech-heavy Nasdaq composite rose 1.28 percent, boosted by vaccine hopes. Pfizer with BioNTech and Moderna applied fo

South Korea's stock prices rose at the 10th-fastest pace among the Group of 20 (G-20) nations with major economies posting double-digit surges, data showed Wednesday. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.30 percent in November from the prior month, outpacing the previous record monthly increase of 13.52 percent recorded in April 2009. It was the 10th highest hike among the G-20 economies and outperformed their average 14.1 percent expansion. All G-20 members saw