Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Seoul stocks open higher on tech, auto gains
South Korean stocks opened higher Wednesday as auto and tech stocks continued to rebound. The benchmark Korea Composite Stock Price Index rose 33.11 points, or 1.07 percent, to 3,125.77 in the first 15 minutes of trading. The KOSPI traded bullish after the key index rallied 2.61 percent the previous session. Investor sentiment also lifted on overnight comments by US Treasury Secretary nominee Janet Yellen backing a large-scale fiscal relief package to reinvigorate the world's largest economy
Jan. 20, 2021
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S. Korea wins top ESG rating by Moody’s
South Korea received a top rating in an environment, social and governance assessment conducted by US credit rating agency Moody’s Investors Service, according to the Ministry of Economy and Finance on Tuesday. Moody’s has recently announced a list of 144 countries assessing their capabilities in handling ESG issues, with five classifications, including “positive” at the top and “very highly negative” at the bottom. Korea was one of 11 nations who rated &ldq
Jan. 19, 2021
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Ruane, Cunniff & Goldfarb unloads stake in Shinyoung Securities
US-based investment adviser Ruane, Cunniff & Goldfarb has unloaded a 5.5 percent stake in Korea‘s brokerage house Shinyoung Securities, a regulatory filing showed Tuesday. The New York-based firm’s sales proceeds came to 30.4 billion won ($27.6 million) following decades of transactions involving its mutual funds, according to the filing. Ruane, Cunniff & Goldfarb’s ownership was reduced to 2.11 percent as of December 2020, making it no longer obliged to disclose itse
Jan. 19, 2021
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Dunamu introduces digital asset fear-greed index
Dunamu, a South Korean blockchain and fintech company, said Tuesday that it has developed an indicator that measures volatility of digital asset market to help investors make decisions. The digital asset fear-and-greed index reflects market sentiment in five different levels, from ”extreme fear“ to ”extreme greed.” The index gauges market volatility with trading price and transaction volume every five minutes. “As many domestic digital asset investors use gl
Jan. 19, 2021
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Seoul stocks rebound over 2% on auto gains
South Korean stocks jumped more than 2 percent Tuesday on stellar advances by auto-related shares, backed by expectations of improved earnings. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 78.73 points, or 2.61 percent, to close at 3,092.66 points. Trading volume was high at about 1.3 billion shares worth some 23.8 trillion won ($21.6 billion), with gainers outnumbering losers 737 to 124. Foreigners bought a net 412 billion won, while
Jan. 19, 2021
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Korean lenders to muster up $3b for SK hynix’s global investment
A group of South Korean lenders pledged on Tuesday to earmark a combined $3 billion over the next five years to spur global investment into local semiconductor maker SK hynix as part of the nation’s bid to shore up growth of futuristic technology. South Korea’s top financial regulator, the Financial Services Commission, said the lenders’ agreement with the country’s second-largest semiconductor chip manufacturer will pave the way for future economic development as the c
Jan. 19, 2021
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S. Korea to monitor market volatility amid widening bond yield spreads
South Korea will closely monitor a potential increase in volatility of the financial markets as the yield spread between short and long-term state bonds is increasing, the vice finance minister said Tuesday. First Vice Finance Minister Kim Yong-beom also said rising US Treasury yields are serving as the main factor that has recently driven the dollar higher against major currencies. Yields on 10-year government bonds recently jumped on anticipation for an economic recovery and expected bond sa
Jan. 19, 2021
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Seoul stocks open higher on auto gains
South Korean stocks opened higher Tuesday on strong advances by auto-related shares. The benchmark Korea Composite Stock Price Index rose 10.02 points, or 0.33 percent, to 3,023.95 in the first 15 minutes of trading. The KOSPI rebounded on foreign and institutional buying. The key index slumped over 4 percent in total in the previous two sessions. Top automaker Hyundai Motor jumped 4.56 percent, with its smaller affiliates Kia Motors and Hyundai Mobis hiking 4.9 percent and 4.95 percent, resp
Jan. 19, 2021
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Court ruling on Samsung heir adds to stock woes
South Korea’s stock market was dealt a further blow following a conviction of Samsung group heir apparent Lee Jae-yong on Monday, with large-cap stocks posting bigger losses. This comes as a recent rally, largely driven by massive retail investor participation since late 2020, has been followed by a stock market correction in the last two trading days. The Korea Exchange’s main board Kospi closed at 3,013.93 points, down 2.3 percent from Friday, despite retail investors’ c
Jan. 18, 2021
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Hyundai Motor chairman sees March stock buy triple in value
Stocks in carmaker Hyundai Motor and its auto parts-making affiliate Hyundai Mobis that Hyundai Motor Group Chairman Chung Euisun bought during the peak of the coronavirus crisis last year have tripled in value, according to data on Monday. When Hyundai Motor Group stocks hit the rock bottom in March last year, Chung purchased stocks valued more than 80 billion won. The purchase price of a Hyundai Motor share was 69,793 won and 135,294 won for a share in Hyundai Mobis. Based on the closing pri
Jan. 18, 2021
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[Feature] Fear of missing out: Psychology behind Kospi rally
The nickname “ants” has been used to describe South Korean retail investors, as a diligent but minor group seeking profit from the market with little in the way of knowledge or funds. The recent stock craze that pushed up the nation‘s main bourse Kospi, however, shows how those minor players are transforming. Armed with abundant funds and wider access to limited information thanks to advanced technology, the ants are marching toward the territory of the institutional and for
Jan. 18, 2021
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Seoul stocks dip over 2% on Samsung, bio stocks
South Korean stocks tumbled more than 2 percent Monday amid strong profit-taking sell-offs and a plunge in Samsung affiliates. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dipped 71.97 points, or 2.33 percent, to close at 3,013.93 points. Trading volume was high at about 1.5 billion shares worth around 22.8 trillion won ($20.7 billion), with losers outnumbering gainers 715 to 164. Foreigners sold a net 220 billion won, while retail investo
Jan. 18, 2021
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Singapore’s Prestige Biopharma eyes Feb. IPO on Kospi
Prestige Biopharma, a Singapore biopharmaceutical firm dedicated to biosimilars and new antibody therapeutic developments, said Monday it is looking to raise as much as 490.9 billion won ($444.5 million) in an initial public offering on the Korean main bourse early next month. It plans to issue some 15.34 million depository receipts in a price band of 25,000-32,000 won. The exact share price will be set through the two-day book building that is set to wrap up Wednesday. Retail investors’
Jan. 18, 2021
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Seoul stocks open sharply lower on profit-taking
South Korean stocks opened steeply lower Monday as foreign and retail investors sold local stocks to take profits. The benchmark Korea Composite Stock Price Index lost 42.26 points, or 1.37 percent, to 3,043.64 points in the first 15 minutes of trading. Samsung Electronics shed 1.93 percent, and No. 2 chipmaker SK hynix retreated 1.18 percent. Leading chemical firm LG Chem dipped 2.25 percent, and rechargeable battery maker Samsung SDI slumped 2.99 percent. Internet portal operator Naver fel
Jan. 18, 2021
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Robo-advisers thrust in spotlight amid coronavirus pandemic
The amount of funds entrusted to South Korea’s three leading robo-adviser firms exceeded 1 trillion won ($906 million), highlighting the fast growth of non-face-to-face investment services during the coronavirus crisis, according to market data on Sunday. Robo-adviser or automated asset management companies Fount, AIM and December & Company currently manage a total of 1.25 trillion won, up 402.9 percent from 247.9 billion won a year ago. Robo-advisers offer highly tailored asset mana
Jan. 17, 2021
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Industrial shift to heat up Korea’s M&A market: experts
Brisk merger and acquisition activity is expected this year in an ongoing industrial shift that is being accelerated by the pandemic, according to outlooks from investment banks Sunday. While the aviation industry has taken the hardest blow from the pandemic, Korean Air is speeding up the process of taking over Asiana Airlines. On Thursday it submitted stock acquisition documents to antitrust authorities in nine regions where the carrier flies for a merger review. The countries include South Ko
Jan. 17, 2021
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Woori Financial chief pledges to innovate like Amazon, Google
Woori Financial Group Chairman Sohn Tae-seung has urged the group‘s subsidiaries to gear up for business innovation this year by benchmarking global tech giants Amazon and Google, officials said Sunday. “Just as the innovative tech behemoths Amazon and Google did, let’s seek innovation with a mindset like it’s always day one, to get back to the basics and start work with a renewed mind and to surprise the market by achieving a groundbreaking performance,” s
Jan. 17, 2021
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Retail investors emerge as big players in stock markets
South Korean retail investors have emerged as deep pockets in the stock market, pouring in more than 100 trillion won ($90.6 billion) since early last year, data showed Sunday. Individual investors net bought a combined 102.2 trillion won in local and overseas stocks from Jan. 2, 2019, to Friday, according to data from the Korea Securities Depository (KSD). During the cited period, individuals bought a net 77.8 trillion won worth of local stocks. They bought 59 trillion won worth of stocks tra
Jan. 17, 2021
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KKR's Asia fund underscores hope for real asset recovery
The announcement of two fund closures by US investment firm KKR this week highlighted its anticipation for real asset recovery in the Asia-Pacific region, including South Korea. KKR on Wednesday closed the $1.7 billion fund KKR Asia Real Estate Partners, which is focused on real estate investments in the Asia-Pacific region to meet demand for modernized properties and developments. A few days earlier, its KKR Asia Pacific Infrastructure Investors on Sunday closed a $3.9 billion vehicle for inf
Jan. 15, 2021
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Seoul stocks tumble on profit-taking
South Korean stocks dipped more than 2 percent Friday as investors booked profits from a recent rally. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 64.03 points, or 2.03 percent, to close at 3,085.9 points. Trading volume was high at about 1.3 billion shares worth around 22.8 trillion won ($20.7 billion), with losers outnumbering gainers 626 to 240. The KOSPI opened higher, buoyed by a massive stimulus proposal by US President-elec
Jan. 15, 2021