Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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FSC chief says too early to discuss expanding access to short-selling
South Korea’s top financial regulator said Monday it is premature to discuss plans on opening individual investors‘ access to short-selling activities of Korean shares, stressing the danger of small investors taking potentially massive risks. “Considering potential financial damage from short-selling, I personally hope ordinary retail investors don’t participate in it,” said the FSC Chairman Eun Sung-soo during a press conference held online due to the COVID-19 r
Dec. 14, 2020
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UK becomes biggest net buyer in S. Korean stock market in Nov.
Investors from the UK became the biggest net buyers in the South Korean stock market, as they bought shares worth 2.2 trillion won ($2.02 billion) in November, which accounted for nearly 36 percent of stocks purchased by foreign investors in the month, according to data Monday. The data from the nation’s watchdog Financial Supervisory Service showed that foreign investors net purchased shares worth some 6.1 trillion won in November, the highest monthly purchase since September 2013, whe
Dec. 14, 2020
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Seoul stocks slump amid spiking COVID-19 cases
South Korean stocks finished lower Monday as investors remained wary of the country's spiking new coronavirus outbreaks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.86 points, or 0.28 percent, to close at 2,762.2 points. Trading volume was moderate at about 1.1 billion shares worth some 16.8 trillion won ($15.4 billion), with losers outnumbering gainers 577 to 276. Foreigners sold a net 360 billion won, while retail investors
Dec. 14, 2020
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Retail investors rush to buy soaring Samsung Electronics shares
South Korean retail investors last week injected over 1.2 trillion won ($1.1 billion) to buy Samsung Electronics shares that touched the 70,000 won mark for the first time earlier this month, data showed Monday. During the five trading sessions, small domestic investors scooped up nearly 1.26 trillion won of the blue chip shares, while foreign and institutional investors offloaded a net 1.07 trillion won and 286.4 billion won worth of the shares, respectively, according to the Korea Exchange da
Dec. 14, 2020
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NH-Amundi's ESG-oriented equity fund raises W100b
NH-Amundi Asset Management said Monday that its equity fund dedicated to environmental, social and governance factors in investment decisions has surpassed 100 billion won ($91.7 million) by the size of assets it was managing, indicating South Korean retail investors’ appetite for the green theme. The product, dubbed NH-Amundi Century Enterprise Green Korea Equity Fund, was launched on Sept. 3. It has attracted 60 billion won worth of retail investment, while 40 billion won stemmed from
Dec. 14, 2020
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'Decentralization to unfold in Seoul office market'
South Korea is expected to witness a decentralization of the office market in its capital city Seoul over the next few years as major tenants are planning to relocate and new submarkets emerge, a report showed Monday. Chaebol tenants such as Samsung, Doosan, Hyundai Heavy, LG are planning relocations within the Greater Seoul area, while banking group Hana Financial Group and public institutions are considering moving out of Seoul, leading to a “great reshuffling” of the Seoul offic
Dec. 14, 2020
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Woori Bank ditches postal notification service to go paperless
Major South Korean lender Woori Bank said Monday it is set to launch a mobile-based notification service on Tuesday to replace its current postal delivery of documents regarding customer banking activities. After completing a personal identification process in the bank’s mobile application, its users will receive e-notifications of 21 pieces of banking information on deposits or loans, including repayment due dates, which previously have been mailed to their home address. Marking
Dec. 14, 2020
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Seoul stocks open tad higher on tech gains amid COVID-19 concerns
South Korean stocks opened slightly higher Monday on the back of strong tech and pharmaceutical gains, but investors remain wary of the country's spiking new coronavirus outbreaks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.96 points, or 0.14 percent, to 2,774.02 in the first 15 minutes of trading. Contact-free shares, such as giant chipmakers, drugmakers and online platform operators, advanced as South Korea's daily new COVID-19 cases broke the 1,000 mark for the first tim
Dec. 14, 2020
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Retail investors swoop on Samsung Electronics amid price surge
South Korean retail investors loaded up on shares of top-cap Samsung Electronics Co. last week amid a surge in its share price, data showed Monday. Individual investors bought a net 1.26 trillion won ($1.15 billion) worth of Samsung from Monday to Friday, their top pick among local companies, according to the data from the Korea Exchange. In contrast, foreign investors and local institutions sold a net 1.29 trillion won worth of Samsung shares during the five-session period. Individuals' stro
Dec. 14, 2020
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Foreigners' net buying of Korean stocks hits nearly 7-year high in Nov.
Foreign investors' net purchase of South Korean stocks reached a near seven-year high in November, with Britons emerging as the biggest buyers, data showed Monday. Foreigners bought a net 6.1 trillion won ($5.6 billion) worth of local stocks in November, the largest monthly net tally since September 2013, according to the data from the Financial Supervisory Service (FSS). Britons were the biggest net buyers of South Korean equities with 2.2 trillion won last month, which accounted for 36 perce
Dec. 14, 2020
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[Women in Finance 3] Women who broke the glass ceiling
The Korea Herald is publishing a series of special reports on the glass ceiling in the financial industry, focusing on South Korea’s market compared with other major economies. Funded by The Korea Press Foundation, the series will evaluate where Asia’s fourth-largest economy stands in terms of gender equality, will reflect on changes being made and will explore ways to boost inclusion in the sector. -- Ed. Looking back at her 41-year career in South Korea’s finance sector, Soh
Dec. 13, 2020
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Seoul shares likely to further advance next week; vaccinations in focus
South Korean stocks are likely to further rise next week despite some correction, as investors pin high hopes on a quick economic recovery from the pandemic's fallout. Despite a surge in new daily COVID-19 cases, the Korea Composite Stock Price Index closed at an all-time high of 2,770.06 points Friday, up 1.41 percent from a week ago. The KOSPI moved like roller coaster on vaccination reports, rising more than 2 percent Wednesday on the world's first mass COVID-19 vaccination in Britain. The
Dec. 12, 2020
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Mirae Asset's Korean New Deal-themed ETFs top W700b in NAV
Mirae Asset Global Investments said Friday its five exchange-traded funds investing in stocks dedicated to batteries, biotechnology, internet and gaming sectors have topped 700 billion won ($642 million) in their combined net asset value as of Thursday, two months after their listing. The ETFs are its signature Tiger suite of products -- Tiger KRX BBIG K-New Deal ETF, Tiger KRX Bio K-New Deal ETF, Tiger KRX Secondary Battery K-New Deal ETF, Tiger KRX Internet K-New Deal ETF and Tiger KRX Game
Dec. 11, 2020
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Fidelity unloads W111b Hyundai Marine & Fire stocks since Oct.
US-based investor Fidelity Management & Research has offloaded common shares of Hyundai Marine & Fire Insurance worth 111.6 billion won ($102.2 million) on the local stock exchange since October, filings showed Friday. Before the transactions, Fidelity was the third-largest shareholder of Hyundai Marine & Fire, listed on South Korea‘s main stock bourse Kospi, holding 11 percent of its voting rights. That followed Chairman Chung Mong-yoon’s 24.65 percent and the National
Dec. 11, 2020
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Seoul stocks jump almost 1% to another record high on vaccine hopes
South Korean stocks gained nearly 1 percent to a fresh all-time high Friday, as hopes for new coronavirus vaccinations boosted investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.6 points, or 0.86 percent, to close at 2,770.06. Trading volume was high at about 1.1 billion shares worth some 18 trillion won ($16.5 billion), with gainers outnumbering losers 659 to 192. Foreigners bought a net 163 billion won, while retail
Dec. 11, 2020
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ICT Ministry to commit W16b to digital media startups
The Ministry of Science and ICT said Friday it plans to commit 16 billion won ($14.7 million) to Seoul-based venture capital house K & Investment Partners as part of the government-led initiative to foster the domestic digital media ecosystem. The commitment from its fund-of-funds, managed by Korea Venture Investment Corp., will be used to create a 26 billion-won fund by March next year. K & has been selected as the ICT Ministry’s only external partner to manage the fund out of 1
Dec. 11, 2020
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Woori Financial chief buys back group shares to show confidence in future business
Woori Financial Group said Friday its Chairman Sohn Tae-seung recently bought back 5,000 company shares to show his confidence in the banking group’s future growth. Sohn’s stock buyback marks the fifth time this year, following his earlier buying in January, March, April and August. He now holds 88,127 shares in Woori Financial. “By purchasing the firm’s shares in the wake of the COVID-19 crisis, he aimed to build market confidence in the group’s corporate f
Dec. 11, 2020
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Seoul stocks open sharply higher on vaccine hopes
South Korea's benchmark stock index opened sharply higher Friday, as optimism over new coronavirus vaccinations gained ground in the financial markets. The Korea Composite Stock Price Index rose 25.87 points, or 0.94 percent, to 2,772.33 in the first 15 minutes of trading. Local stocks traded bullish, as vaccine hopes offset concerns over increasing COVID-19 cases at home and disappointing jobless data in the United States. Investor sentiment was boosted following a US government advisory p
Dec. 11, 2020
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[Women in Finance 2] Coffee errands, parenting, golf: How Korean women are kept from climbing the ladder
The Korea Herald is publishing a series of special reports on the glass ceiling in the financial industry, focusing on South Korea’s market compared to other major economies. Funded by The Korea Press Foundation, the series will evaluate where Asia’s fourth-largest economy stands in terms of gender equality, will reflect on changes being made and will explore ways to boost inclusion in the sector. -- Ed. Kim Ji-youn was filled with her own expectations of building a
Dec. 10, 2020
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Seoul stocks close lower on foreign selling spree amid volatility
South Korean stocks closed lower Thursday, roiled by an overnight Wall Street tech plunge and vaccine concerns amid uncertainties over the quadruple expiration of key stock derivatives. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 9.01 points, or 0.33 percent, to close at 2,746.46. Trading volume was high at about 1.2 billion shares worth some 20.3 trillion won ($18.6 billion), with gainers outnumbering losers 65
Dec. 10, 2020