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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Market value of top 10 group firms soars 22% on stock rally
Listed firms of South Korea's top 10 business groups saw their market capitalization jump nearly 22 percent this year amid a strong stock market rally, data showed Wednesday. The combined market value of those 102 listed firms came to 1,069.5 trillion won ($960 billion) as of Monday, up 22.3 percent from the end of last year, according to the data from financial information provider FnGuide. Four groups -- Samsung, SK, LG and Hyundai Motor -- had a market value of more than 100 trillion won. T
Nov. 25, 2020
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Seoul stocks close at all-time high on extended foreign buying
South Korean stocks extended their winning streak to a fifth day, finishing at an all-time high Tuesday on hopes of an economic recovery and new coronavirus vaccine development. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.17 points, or 0.58 percent, to close at 2,617.76. Trading volume was high at about 1.3 billion shares worth some 16.6 trillion won ($14.9 billion), with gainers outnumbering losers 528 to 299. Foreigne
Nov. 24, 2020
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Kospi’s record-high rally continues on COVID-19 vaccine, recovery hopes
South Korea’s main bourse extended record-setting rallies for the second consecutive session Tuesday, setting a fresh high on hopes of an economic recovery and new coronavirus vaccine developments. The Kospi closed at 2,617.76, up 15.17 points, or 0.58 percent, from the previous session’s close, which itself was an all-time closing number. It even surpassed the intraday record of 2,607.10 marked on Jan. 29, 2018 in morning trading. The index started off at 2,616.28 and gained thro
Nov. 24, 2020
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NH Financial chief set to resign to lead federation of Korean banks
NH Financial Group Chairman Kim Kwang-soo is likely to offer resignation soon as he was named the sole candidate to represent the nation’s largest bankers’ club, according to reports quoting insiders said Tuesday. On Monday, board members of the Korea Federation of Bank unanimously nominated Kim, among six other candidates. The federation is set to hold a general meeting on Friday to put Kim’s nomination to vote. If elected, Kim will officially start his term on Dec. 1, rep
Nov. 24, 2020
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Seoul stocks open higher on recovery hopes
South Korean stocks opened higher Tuesday after hitting an all-time high the previous session on hopes of an economic recovery and new coronavirus vaccine development. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.01 points, or 0.27 percent, to 2,609.6 in the first 15 minutes of trading. Investor sentiment ran high in the global financial markets, as progress in COVID-19 vaccine development fueled optimism that the economy and trade would normalize down the road. Overnight,
Nov. 24, 2020
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Seoul stocks near all-time high on foreigners' buying spree
South Korean stocks rose for a fourth consecutive day to near an all-time high Monday on massive foreign buying, backed by hopes for a quick economic recovery, shrugging off concerns over a resurgence of the new coronavirus. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 49.09 points, or 1.92 percent, to close at 2,602.59 points, after reaching as high as 2,605.58 points at one point. Monday's closing price is just shy of the index's a
Nov. 23, 2020
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ESR-controlled industrial REIT gears up for W357.3b IPO
South Korea’s real estate investment trust, indirectly controlled by Hong Kong-listed real estate platform ESR, said Monday that it is gearing up for an initial public offering that will raise 357.3 billion won ($321.3 million) before a listing on the main stock bourse, Kospi, to attract retail investors to its industrial portfolio. The new REIT, dubbed ESR Kendall Square REIT, will become the first listed REIT dedicated to logistics properties in Korea if the IPO goes ahead as planned l
Nov. 23, 2020
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Lotte Card issues ESG bonds for those affected by COVID-19
South Korean credit card issuer Lotte Card has issued social bonds worth 150 billion won ($135 million), the company said Monday. The newly issued bonds, a type of environment, social and governance investment, are aimed at supporting the socioeconomically vulnerable population and creating jobs. Funds raised from the bond issuance will be used to pay settlement costs in advance for mom-and-pop stores and small businesses, which have been bearing the brunt of the ongoing coronavirus crisis.
Nov. 23, 2020
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Late Samsung chairman’s stocks rise further in value
Since the passing of the late Samsung Group Chairman Lee Kun-hee on Oct. 25, stocks of the conglomerate’s seven affiliates, including Samsung Electronics and Samsung C&T, rose 13.8 percent on average, according to data released Monday. The increase is thought to be driven by expectations of an economic recovery as well as increased dividend payouts to help late Samsung chairman’s heirs pay inheritance taxes. Samsung Electronics, the crown jewel of the nation’s largest co
Nov. 23, 2020
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Driven by foreign buying, Kospi hits all-time closing high
Buoyed by a foreign investors’ buying spree that continued into a 13th consecutive session, South Korea’s benchmark Kospi reached a fresh all-time closing high on Monday, amid growing expectations by local brokerage houses that the main bourse could rise further next year. The main bourse rose 49.09 points, or 1.92 percent, to end at 2,602.59, eclipsing the 2,598.19-point mark reached Jan. 29, 2018. The index is now also only 4.51 points off an intraday high of 2,607.10 seen Jan. 29
Nov. 23, 2020
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S. Korea's financial markets to open 1 hour later on college entrance exam
South Korea's financial markets will start trading an hour later than usual on Dec. 3 due to the nationwide college entrance exam, the bourse operator said Monday. Trading of stocks, as well as the exchange traded fund (ETF) and bond markets, will begin at 10 a.m. and close at 4:30 p.m., the Korea Exchange (KRX) said in a statement. Trading of derivatives will run from 10 a.m. to 16:45 p.m. Among commodities, trading of gold will begin an hour late at 10 a.m. and close at the usual 3:30 p.m
Nov. 23, 2020
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Seoul stocks open higher on tech, bio gains
South Korean stocks opened higher Monday, backed by strong advances by tech and bio heavyweights amid the resurgent coronavirus outbreaks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.42 points, or 0.41 percent, to 2,563.92 in the first 15 minutes of trading. The KOSPI got off to a mild gain on foreign buying as large caps traded higher amid signs of economic recovery, including an 11.1 percent on-year jump in South Korean export in the first 20 days of November. Bio share
Nov. 23, 2020
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Shares of major Samsung units surge following chief's death
Shares in major units of South Korea's top conglomerate, Samsung Group, have risen at double-digit rates since the death of its chief a month ago on hopes for an economic recovery and more dividends from them, data showed Monday. Share prices of Samsung Electronics and six other major subsidiaries jumped an average 13.8 percent between Oct. 25, when Lee Kun-hee died after being bedridden following a heart attack in 2014, and Friday, according to the data from the Korea Exchange. Shares in Sams
Nov. 23, 2020
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S. Korea should improve fintech regulations for sustainable growth: BCCK
In order to drive the sustainable growth of the fintech industry in the post-coronavirus era, South Korea needs to improve its regulatory frame, the British Chamber of Commerce in Korea has said. The BCCK’s fintech committee, which kicked off in December last year, has released its first white paper to highlight how the current COVID-19 pandemic is accelerating the digital transition across the world, officials said Sunday. Outlining the best practices and policy suggestions on the lates
Nov. 23, 2020
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Bumpy road ahead of KAL-Asiana tie-up
Controversy escalated Sunday over the proposed business integration plan of South Korea’s two flag carriers -- Korean Air Lines and Asiana Airlines -- as to whether the fundraising plan of Korean Air’s parent company Hanjin KAL to achieve the tie-up is legally viable. State-run lender and creditor Korea Development Bank has addressed concerns over the possibility of an injunction court order that might kill its plan of providing 800 billion won ($716 million) to Hanjin KAL in retur
Nov. 22, 2020
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Funds managed by robo-adviser startups surge more than W1tr
Robo-adviser startups in South Korea saw their funds increase by more than 1 trillion won ($896.7 million) in a year, driven by stock trading fever amid the prolonged COVID-19 pandemic, industry data showed Sunday. According to data from the Korea Financial Investment Association, the amount of funds entrusted to the country’s four major robo-adviser firms -- Fount, Aim, December & Company and Doomoolmori -- stood at 1.29 trillion won in the third quarter, up some 1.03 trillio
Nov. 22, 2020
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Korea’s sovereign wealth fund joins climate change coalition
South Korea’s sovereign wealth fund Korea Investment Corp. said Sunday that it was now a member of the One Planet Sovereign Wealth Fund, the world’s largest multilateral working group convened by sovereign wealth funds across the globe to promote cooperation on climate change. Established Dec. 12, 2017, at the “One Planet Summit” -- a global coalition launched by the French government and the UN to work together on climate change -- the fund exists to develop a f
Nov. 22, 2020
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KB Financial union’s attempt to hire outside director falls through yet another year
KB Financial Group labor union’s attempt to convince shareholders to appoint two outside directors recommended by them fell through Friday, deflating the union’s yearslong efforts to enter the boardroom. Following a shareholders meeting held in the morning, KB Financial Group said that the appointment of outside director candidates Sustinvest CEO Ryu Young-jae and Seoul National University environmental studies professor Yun Sun-jin was “rejected” based on the votes cas
Nov. 20, 2020
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Kospi anticipated to hit all-time high within year on foreign buying
As South Korea’s main bourse hit its yearly high for a third consecutive session on Friday, investors’ expectations have mounted for a fresh yearly high as early as within the year. The Kospi closed at 2,553.50, up 6.08 points or 0.24 percent, from the previous session’s close. It began trading lower at 2,544.06 and experienced a roller-coaster trading session but ended strongly. Retail investors and foreign investors net purchased 123.9 billion won ($111.21 million) and 102
Nov. 20, 2020
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S. Korean banks adopt stricter lending rules for overdraft accounts
South Korean banking groups are set to tighten lending rules for overdraft accounts, lowering borrowing limits amid government efforts to put a brake on the nation’s fast-growing household debt, industry data showed Friday. The five major commercial banks here -- KB Kookmin, Shinhan, Woori, Hana and NH NongHyup -- have started lowering limits for their key overdraft account products designed for “high-income individuals and professionals” from an average 200 million won ($179,
Nov. 20, 2020