South Korean stocks snapped a two-session losing streak on Friday, helped by strong foreign buying that offset individuals' profit-taking rush. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.23 points, or 0.26 percent, to close at 2,412.40. Trading volume was moderate at about 744 million shares worth some 13.7 trillion won ($11.8 billion), with losers outnumbering gainers 433 to 416. After a 1.22 percent drop in the previous session

The Military Mutual Aid Association, which provides pension services for military personnel, has been the most profitable mutual aid association in South Korea for the past three years, business data tracker CEO Score Daily said Friday. Currently, the nation has seven large mutual aid associations, including the Public Officials Benefit Association, the Korea Local Finance Association, the Police Mutual Aid Association and the Korean Teachers’ Credit Union. The MMAA’s return on

South Korean stocks opened higher Friday, led by a rebound in battery and bio heavyweights.  The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.25 percent, to 2,412.2 in the first 15 minutes of trading.  The KOSPI rebounded after the index lost 1.22 percent in the previous session.  Battery and biopharmaceutical large caps fared strong, while auto-related shares dipped.Leading chemical company LG Chem jumped 2.33 percent, a day after it announced its decisi

The International Olympic Committee has sent a congratulatory letter to life insurance firm Kyobo Life Chairman Shin Chang-jae, who has been appointed as the organizing chief for the Gangwon 2024 Winter Youth Olympic Games. While congratulating Shin’s appointment, Thomas Bach, the IOC president, expressed expectations for the quadrennial global sports event, which is scheduled to be held in Gangwon Province. “Considering the chairman’s contributions to youth sports and cult

The amount of money local retail investors have poured in the local and overseas stock markets has reached more than 100 trillion won ($85.2 billion), according to data released by the nation’s sole securities operator Korean Exchange on Thursday. Individual traders bought a total of 55.9 trillion won in the local market this year as of Wednesday. Of the total, 43.5 trillion won went to the main bourse Kospi, and the rest, or 12.4 trillion won, to the tech-heavy Kosdaq. Investor deposit

South Korean stocks decreased more than 1 percent Thursday, as more investors turned to profit-taking that stemmed from tech valuation concerns. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 29.75 points, or 1.22 percent, to close at 2,406.17. Trading volume was moderate at about 834 million shares worth some 13.9 trillion won ($11.8 billion), with losers outnumbering gainers 655 to 200. Foreigners sold a net 126 billion won, whil

To facilitate remote working amid the prolonged COVID-19 pandemic, the nation’s financial watchdog will ease restrictions on external access to network systems at local financial companies.  The Financial Supervisory Service said Thursday it would allow employees to stay connected to the company’s internal communication software throughout the day by revising the regulations on the supervision of electronic finance, which stipulate the so-called “network separation syst

South Korean stocks opened lower Thursday, taking a cue from overnight losses on Wall Street that stemmed from tech valuation concerns. The benchmark Korea Composite Stock Price Index fell 11.69 points, or 0.58 percent, to 2,424.23 in the first 15 minutes of trading. Despite the US Federal Reserve's signal to keep the near-zero rate till 2023, the local stock market remained bearish. The Nasdaq Composite retreated 1.25 percent to 11,050.47 points on Wednesday (New York time). The S&P 50

South Korean stocks ended their four-session winning streak on Wednesday, as investors rushed to reap profits from the recent stock rally. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 7.66 points, or 0.31 percent, to close at 2,435.92. Trading volume was moderate at about 755 million shares worth some 11.6 trillion won ($9.9 billion), with losers outnumbering gainers 543 to 308.' Institutions dumped a net 328 b

Top internet-only bank’s value exceeds four major financial groups’ total market cap

Uzbek-based Korean cotton pulp manufacturer secures global market presence after 10 years, officials say

South Korean stocks opened a tad lower Wednesday as investors attempted to cash in recent gains. The benchmark Korea Composite Stock Price Index fell 3.55 points, or 0.15 percent, to 2,440.03 in the first 15 minutes of trading. The index came to a muted start after a 0.65 percent gain in the previous session hitting an over two-year high. In Seoul, most large caps traded lower. Market bellwether Samsung Electronics lost 0.49 percent, with No. 2 chipmaker SK hynix shedding 1.59 percent. In

South Korean shares extended their winning streak to a fourth session on Tuesday to close at a more than two-year high, helped by advances in tech heavyweights and progress in coronavirus vaccine development. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.67 points, or 0.65 percent, to close at 2,443.58. Tuesday's closing marks the highest since June 12, 2018, when the index closed at 2,468.83 points. Trading volume was moderate at

Amid the snowballing volume of personal credit loans taken out for stock investments, Korea’s securities firms are increasingly suspending their credit financing services, local industry sources said Tuesday. Samsung Securities, the brokerage arm of the Samsung conglomerate, announced a day earlier that it would temporarily stop the purchase of credit loans as the firm had reached its limit on credit offerings. This marked the second time since July 22 that Samsung put the brakes on its

The number of consumer complaints brought against local financial companies jumped 15 percent on-year in the first-half of 2020, mainly related to the mis-selling of private equity funds and a surge in requests for loans to counter the coronavirus impact, data showed Tuesday.  According to data from the Financial Supervisory Service, the financial watchdog received a total of 45,922 consumer complaints against securities firms, commercial banks, insurance companies and credit card operat