Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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Will China's self-sufficient dream in HBM come true?
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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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
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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