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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Shinhan wins CDP Leadership A for 7th year
Shinhan Financial Group has won the top grade recognition in climate change leadership from Carbon Disclosure Project, becoming the first South Korean financial institute to maintain the honor for seven years straight. The Korean banking group has received Leadership A, the top notch prize in the CDP Climate Change criteria this year, marking the seventh consecutive year of such achievement, officials said in a release Thursday. Also, based on the CDP report issued in April, the CDP’s
Dec. 10, 2020
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Korean GDP to grow 3.6%, Kospi to hit 2,850 in 2021: Nomura
Driven by the development of COVID-19 vaccines and their eventual distribution, South Korea’s economy will steadily recover in 2021, growing at 3.6 percent followed by a 0.8 percent contraction this year, according to Japan’s Nomura Securities on Thursday. “Amid the global capex (capital expenditures) recovery, current IT export products and new export products such as electric vehicles and biohealth will play a leading role in driving South Korea’s economic recovery ne
Dec. 10, 2020
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[Herald Interview] Procurement system revamp to spur growth of innovative SMEs
South Korea‘s central government procurement agency has been putting efforts into bridging innovation-oriented small and medium-sized enterprises and aspiring buyers of their prototypes and goods, its chief said in a recent interview with The Korea Herald. As the state-run Public Procurement Service is looking to strengthen a separate web-based procurement platform created in February, in addition to its flagship Korea Online E-Procurement System, the agency will stay committed to the ro
Dec. 10, 2020
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Foreigners remain net buyers of S. Korean stocks in November
Foreign investors extended a net purchase of South Korean equities for the second consecutive month in November, supported by hopes of a global economic recovery from the coronavirus pandemic, the central bank said Thursday. Foreigners bought a net $5.52 billion worth of local stocks last month, compared with a net purchase of $1.38 billion in October, according to the Bank of Korea (BOK). Offshore investors became net sellers of Korean bonds worth $450 million last month, the BOK said. Meanw
Dec. 10, 2020
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Seoul stocks open lower on Facebook lawsuit, allergy cases in British vaccination
South Korea's benchmark stock index opened sharply lower Thursday on overnight Wall Street tech losses and reports of allergy cases related to the vaccinations in Britain. The Korea Composite Stock Price Index fell 26.77 points, or 0.97 percent, to 2,728.7 in the first 15 minutes of trading. The fall was led by shares of tech giants, tracking a 1.94 percent overnight plunge on the Nasdaq composite. The US Federal Trade Commission's antitrust lawsuit against Facebook dropped investor appetite f
Dec. 10, 2020
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Why Kospi could be headed for 3,000
Stock analysts are setting bullish targets on South Korea‘s main stock market index Kospi, as optimism for strong earnings growth next year abound, while investors backed by ample market liquidity are zeroing in on equities as their choices are increasingly limited. The views came as the Kospi on Wednesday resumed its record run by closing at 2,755.47. The index rebounded 2 percent from a day prior when Kospi retreated from the five-trading-day rally since the start of December. Kospi, w
Dec. 9, 2020
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Seoul stocks close at record high on vaccine hopes, US stimulus talks
South Korean stocks closed at an all-time high Wednesday, driven by progress of COVID-19 vaccines amid optimism over US stimulus talks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 54.54 points, or 2.02 percent, to close at 2,755.47. Trading volume was high at about 1.2 billion shares worth some 16.8 trillion won ($15.5 billion), with gainers outnumbering losers 658 to 192. Foreigners bought a net 162 billion won, while retail investo
Dec. 9, 2020
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Shinhan Financial to gain full ownership of Neoplux
South Korea’s financial behemoth Shinhan Financial Group is slated to gain full ownership of its newly-acquired subsidiary Neoplux -- a former venture capital arm under Doosan Group -- as soon as the two sides complete a small-scale stock exchange at the end of this month, a filing showed Wednesday. According to DART, the Financial Supervisory Service’s electronic disclosure board, the banking giant will carry out the small-scale stock exchange with Neoplux on Dec. 30. Starti
Dec. 9, 2020
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Mirae Asset’s ETF listed on Vietnamese stock market
An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said Wednesday. The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30 blue-chip Vietnamese companies, including Vingroup Joint Stock Company, Vietcombank and Vinamilk. Its shares account 76 percent of the total market capitalization of the nation’s public
Dec. 9, 2020
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Govt. warns of possible excessive overheating in asset markets
South Korea's vice finance minister warned Wednesday against potential excessive overheating in stock and property markets, saying that asset prices could spike amid ample liquidity and the economic recovery. First Vice Finance Minister Kim Yong-beom made the remarks as the country's stock prices hit a fresh record high in recent sessions and housing prices have not stabilized despite a series of the government's measures. "We need to be wary of the possibility that market volatility coul
Dec. 9, 2020
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Seoul stocks open higher on vaccine hopes
South Korean stocks opened higher Wednesday, tracking overnight Wall Street gains, as Britain started mass-vaccinations against COVID-19 amid optimism over US stimulus talks. The benchmark Korea Composite Stock Price Index rose 23.39 points, or 0.87 percent, to 2,724.32 in the first 15 minutes of trading. Local stocks traded bullish with reignited stimulus hopes in the United States, following Senate Majority Leader Mitch McConnell's offer to set aside some deadlock factors from the relief pa
Dec. 9, 2020
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Korea’s secondary bourse approaches 18-year high
South Korea’s secondary bourse has continued to rally over the past few weeks, touching the 930-point mark during early trading on Tuesday and marking an 18-year high. The tech-heavy bourse reached 2,834.40 on March 10, 2000, the result of so-called “dotcom fever.” Since that bubble burst, it has never again surpassed the 943 points posted March 22, 2002. Considering the recent record-breaking rallies in the nation’s main bourse, Kospi, expectations are also high for K
Dec. 8, 2020
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Seoul stocks dip over 1.5% on virus concerns
South Korean stocks dipped more than 1.5 percent Tuesday, snapping a five-session winning streak on concerns over the new coronavirus resurgence around the globe. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 44.51 points, or 1.62 percent, to close at 2,700.93. Trading volume was high at about 1.4 billion shares worth some 16.9 trillion won ($15.6 billion), with losers outnumbering gainers 567 to 277. Foreigners sold a net 846 bi
Dec. 8, 2020
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KB Securities, Jefferies sign co-brand alliance
South Korea’s brokerage house KB Securities said Tuesday it has teamed up with New York-based multinational investment bank Jefferies Group to establish a co-brand alliance for equity research, sales and trading. Under the term, Jefferies will distribute equity research on listed companies in Korea produced by KB Securities on a co-branded basis to Jefferies’ global institutional client base. KB Securities will also offer Korean equity brokerage services to Jefferies and its interna
Dec. 8, 2020
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Seoul stocks open lower on Wall Street losses
South Korean stocks opened lower Tuesday, taking a cue from overnight losses on Wall Street amid concerns over the new coronavirus resurgence in global markets. The benchmark Korea Composite Stock Price Index fell 8.83 points, or 0.32 percent, to 2,736.61 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.49 percent to 30,069.79 points on rising COVID-19 cases and disappointing jobless data. The Nasdaq composite gained 0.45 percent, but the S&P 500
Dec. 8, 2020
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Brokerages up target prices for Samsung Electronics on chip rebound
South Korean brokerage houses have raised their target prices of Samsung Electronics Co. on signs of a recovery in global chip demand, sources said Tuesday. Some analysts predict the share price of Samsung Electronics, the world's top memory chip maker, to rise as high as 90,000 won ($83) after reaching the 70,000 won range on hopes of a rebound in its semiconductor business. Samsung Electronics, also the No. 1 smartphone manufacturer in the world, finished at an all-time high of 72,900 won on
Dec. 8, 2020
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Korea Exchange delays delisting decision for scandal-ridden Kolon TissueGene
South Korea's main bourse on Monday postponed its decision on whether to delist the scandal-ridden drugmaker Kolon TissueGene, Inc. as it needs more time to make a final decision on the company's delisting. The postponment is expected to provide tech-heavy KOSDAQ-listed Kolon TissueGene a chance to present another turnaround program to the KOSDAQ market committee under the main Korea Exchange (KRX). The main stock exchange said it will reopen the review meeting, without giving the timeframe.
Dec. 7, 2020
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POBA to commit $100m to foreign listed REITs
The Public Officials Benefit Association said Monday it plans to commit $100 million indirectly to foreign real estate investment trusts listed on stock markets of developed countries. The South Korean institutional investor, overseeing 15.2 trillion won ($14 billion) worth of assets, added that it would select a new external partner based outside of Korea by January 2021. POBA‘s open-ended investment will be made in a separately managed account established by the partnering fund manag
Dec. 7, 2020
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Seoul stocks up for 5th session on chip, pharmaceutical gains
The South Korean stock market extended its all-time high for a fifth consecutive session Monday, backed by chip and pharmaceutical gains amid the government's strengthened social distancing measures. The Korean won closed unchanged at a nearly 30-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 13.99 points, or 0.51 percent, to close at 2,745.44. Trading volume was high at about 1.5 billion shares worth some 17.7 trillion won ($16.4 billion), with
Dec. 7, 2020
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Mr. Pizza operator’s shares plunge after market return in 40 months
Shares of MP Group, the South Korean company that controls pizza restaurant franchise Mr. Pizza and coffee chain Manoffin, plunged over 21 percent at the close, after it resumed trading on the nation’s secondary bourse after some three years and four months. Shares of MP Group began trading at 1,920 won ($1.80), down 210 won or 9.86 percent, from the previous session’s close on July 25, 2017. The firm’s stock continued to fall sharply to close at 1,670 won. Its subsidiary MP
Dec. 7, 2020