Most Popular
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Seoul vows strong action against NK trash balloons
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Controversy ignites over regulation of online entertainment shows
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Korea bets big on gas, oil prospects in East Sea
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Yoon OKs exploratory drilling for 'massive' oil, gas reserve in East Sea
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S. Korea to fully suspend inter-Korean military pact after NK balloon barrage
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Girls starting school early could boost fertility rate: state-backed agency report
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BTS set to return in Hybe's hour of need
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[Graphic news] S. Korea's children get taller
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[KH Explains] Hyundai eyes IPO to leverage presence in India
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Korea, US, Japan to kick off 1st trilateral exercises this year
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Samsung Electronics’ record run continues over optimism for foundry biz
The share price of Samsung Electronics on South Korea’s stock market has reached an unprecedented high yet again, surpassing 80,000 won ($73) during intraday trading Monday. Hitting 80,100 won per share in the early morning trade, Samsung Electronics rose 1.2 percent to close at 78,700 won -- the highest closing price since a 50-to-1 stock split in 2018 -- bringing its market cap to a new high of 469.8 trillion won. This accounted for over 24 percent of all 906 constituents of the Kospi,
Dec. 28, 2020
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Seoul stocks hit new high on US stimulus deal, eased Brexit uncertainties
South Korean stocks set a new record high Monday, backed by a fresh US stimulus deal and eased uncertainties from Brexit. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.74 points, or 0.06 percent, to close at 2,808.6. Trading volume was high at about 978 million shares worth some 23.6 trillion won ($21.5 billion), with losers outnumbering gainers 530 to 315. The index extended its all-time high for a second straight session on strong
Dec. 28, 2020
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[Photo News] BTS stars in KB Kookmin's ad for Indonesia
K-pop boy band BTS stars in KB Kookmin Bank’s advertisement for Indonesia, with its megahit song “Dynamite” playing in the background, in this screen capture of the commercial released by the lender on Monday. BTS has been KB Kookmin's global ambassador since 2018. KB Kookmin has been expanding its presence in Indonesia in recent years and has so far acquired a 67 percent stake in Bank Bukopin, making it the largest shareholder. By Jung Min-kyung (mkjung@heraldcorp.com)
Dec. 28, 2020
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Asian shares, credit bonds to outperform in 2021: SC Bank
Asian stocks and credit bonds are forecast to remain bullish next year amid a recovering global economy due to the COVID-19 vaccine progress, according to a Standard Chartered Bank Korea report Monday. “Global economic activity, which has been halted by the COVID-19 pandemic, will normalize next year thanks to the vaccine distribution,” the bank‘s report said in regards to 2021 financial market prospects. “As the global economy is expected to rebound, risky
Dec. 28, 2020
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Investment advisory firms swing to profit in H1 on stock rally
Investment advisory firms in South Korea swung to a profit in the first half of fiscal 2020 as the local stock market remained bullish, data showed Monday. The 215 investment advisers reported a combined net profit of 128.3 billion won ($117 million) in the April-September period, according to the data from the Financial Supervisory Service (FSS). It marks a sharp turnaround from a total net loss of 22.7 billion won recorded during the previous six months. The financial watchdog attributed th
Dec. 28, 2020
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Seoul stocks open higher on chip gains
South Korean stocks opened higher Monday, backed by strong advances by major tech firms. The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.87 points, or 0.6 percent, to 2,823.73 in the first 15 minutes of trading. Stocks traded bullish after finishing at an all-time high the previous session, led by chip and bio advances. The gain came amid investors' optimism over whether the United States, one of South Korea's largest trading partners, would finalize a coronavirus stimulus pac
Dec. 28, 2020
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S. Korea needs to brace for spread of China’s digital currency: experts
As China accelerates the development of its sovereign digital currency, South Korea should prepare for looming changes that the new form of money may bring about to its largest trading partner, experts had said as of Sunday. China has been intensifying its efforts to introduce the digital yuan, known officially as the Digital Currency Electronic Payment, with the second round of its pilot program launched earlier this month for testing on major e-commerce platforms like JD.com, the country&rsq
Dec. 27, 2020
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Samsung Group market capitalization rises above W700tr for first time
Boosted by the surge in stock prices of key affiliates, the combined market capitalization of Samsung Group’s listed firms exceeded 700 trillion won ($636 billion) for the first time, data from the Korea Exchange showed Sunday. As of Thursday, the market cap of 23 listed stocks of the nation’s telecom-to-chemicals conglomerate came to 719.13 trillion won, soaring over 200 trillion won within the year. It is also the first time that a local group’s total market valuation has to
Dec. 27, 2020
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Chicken franchises entered 2020 on a high on strong demand for delivery
Fried chicken franchises marked the largest on-year sales increase last year on growing demand for takeout and delivery, data showed Thursday. According to Statistics Korea, fried chicken franchises saw their sales jumping 21.7 percent in 2019, with each branch selling about 200 million won of products and services on average. “Increased chicken prices, along with the inclusion of delivery fees in chicken prices, have boosted the overall revenue in the segment,” said Lee Jin-seok
Dec. 27, 2020
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Kospi crosses 2,800 mark on chip rally
South Korea‘s stock market hit a new all-time high Thursday as the Korea Exchange’s main board Kospi crossed the 2,800 mark on massive institutional buying of chip shares. The Kospi rose 1.7 percent to 2,806.86 on Thursday, pushing its total market cap to reach 1,936.5 trillion won ($1.8 trillion). Kospi crossing the 2,800 mark came three weeks after it passed the previous threshold of 2,700 on Dec. 4, which was then a fresh high. Institutions net purchased 628.2 billion won worth
Dec. 24, 2020
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S. Korean stocks break 2,800 ceiling to fresh high on vaccine deals
South Korean stocks broke the 2,800 mark for the first time Thursday to close at an all-time high, as the country's additional deals to purchase COVID-19 vaccines boosted hopes for a faster-than-expected economic recovery. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 47.04 points, or 1.7 percent, to close at 2,806.86. Trading volume was moderate at about 1 billion shares worth some 20 trillion won ($18.1 billion), with gainers outnumbe
Dec. 24, 2020
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Shinhan Life OKs merger with ex-ING's Korean arm
Shinhan Financial Group has approved a merger of its two wholly-owned life insurer subsidiaries -- Shinhan Life Insurance and Orange Life Insurance -- into a single entity next year, filings showed Thursday. As a result of the move, Orange Life, formerly the Korean arm of Amsterdam-based ING Group, will be merged into Shinhan Life. The two firms’ combined valuation exceeded 4 trillion won ($3.6 billion), according to the filings. Orange Life‘s 82 million shares will be converted i
Dec. 24, 2020
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S. Korean stocks open higher on deals on COVID-19 vaccines
South Korean stocks opened higher Thursday as South Korea's deals to buy COVID-19 vaccines boosted investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.49 points, or 0.81 percent, to 2,782.31 in the first 15 minutes of trading. Prime Minister Chung Sye-kyun said the country has signed deals to purchase COVID-19 vaccines from US pharmaceutical giant Pfizer and Johnson & Johnson's Janssen. The government plans to offer shots of Janssen's vaccine in the second
Dec. 24, 2020
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Seoul stocks rebound nearly 1% on tech gains
South Korean stocks rebounded by almost 1 percent Wednesday after the previous session's plunge, backed by strong advances by tech giants. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.14 points, or 0.96 percent, to 2,759.82. Trading volume was high at about 1.1 billion shares worth some 19.9 trillion won ($18 billion), with losers outnumbering gainers 491 to 360. Foreigners bought a net 83 billion won, snapping a four-session
Dec. 23, 2020
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IBK partners with Naver’s cloud platform for fintech innovation
The Industrial Bank of Korea joined hands with a platform operated by Naver’s cloud affiliate for digital innovation and development of fintech services, the state-run bank said Wednesday. The new partnership will enable them to bolster their cloud and artificial intelligence capabilities, IBK said. To keep pace with each other, both plan to establish a solid communication channel to review Naver’s technologies capable of upgrading banking business. Discovering and recommending
Dec. 23, 2020
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Korea to launch 1st tranche of New Deal policy fund by March
The South Korean government is poised to launch the first batch of its 20 trillion-won ($18 billion) government policy fund aimed at supporting Korean New Deal projects by March, the Finance Minister said Wednesday. With the first batch to start in March, the government is looking to raise 4 trillion-won commitments in the first year of the five-year scheme, Finance Minister Hong Nam-ki, who doubles as deputy prime minister, said in a pangovernmental meeting held at Seoul Government Complex.
Dec. 23, 2020
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'Changes in spending trend to affect commercial property market next year' report
The growing number of small businesses, including restaurants and mom-and-pop stores closing down their operations amid the lingering coronavirus crisis, has seriously affected commercial real estate markets as well, a report said Wednesday. The report published by KB Financial Group suggested that commercial property markets will continue to suffer next year, along with hotel, commercial space rental, and retail businesses, among others, facing serious challenges. The number of vacant commer
Dec. 23, 2020
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Korean millennials say buying a house is difficult using only income
Amid soaring house prices, seven out of 10 South Koreans born in 1980s and 1990s believe having their own house is necessary but were pessimistic about purchasing residential property only with their income, a survey showed Wednesday. According to the survey, conducted by Mirae Asset Investment and Pension Center and Hankook Research in May, 70.6 percent of respondents said buying a house is necessary, while 73 percent said they think it is difficult for the young generation to do so with their
Dec. 23, 2020
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Seoul stocks open higher on tech advances
South Korean stocks opened higher Wednesday, backed by strong advances by giant tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.59 points, or 0.53 percent, to 2,748.27 in the first 15 minutes of trading. The index rebounded after a 1.6 percent plunge the previous session, as optimism for a better corporate environment next year pushed up tech stocks. On Wall Street, the tech-heavy Nasdaq composite advanced 0.51 percent, while the Dow Jones Industrial Average close
Dec. 23, 2020
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Samsung scions to be liable for record-high inheritance tax
Samsung shares came under the market spotlight as the amount of inheritance tax was set at a record 11.03 trillion won ($9.96 billion) based on closing prices of the stocks on Tuesday. Among shares held by late Samsung chairman Lee Kun-hee are those of tech giant Samsung Electronics, IT solutions developer Samsung SDS, construction firm Samsung C&T, and insurer Samsung Life Insurance. According to the nation’s sole securities exchange operator Korea Exchange, the value of Lee&rsquo
Dec. 22, 2020