Most Popular
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Koreans, Americans differ on prestigious jobs: lawmakers vs. firefighters
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Only half of S. Koreans willing to marry: data
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Disgraced ex-minister rises as major threat to ruling party
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Yoon calls for dialogue, trust from medical community
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Summit for Democracy opens in Seoul in mega-election year
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Dyson founder visits Seoul for global debut of new hair dryer
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Med professors to resign starting March 25
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Leaders call for action against threats to democracy posed by AI
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NK leader guides firing drills involving super-large multiple rocket launchers
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Ryu Joon-yeol, Han So-hee confirm dating since early 2024
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Number of KakaoPay Securities subscribers reaches 2 million
KakaoPay Securities, the stock brokerage arm of mobile messenger giant Kakao, said Monday that it saw its number of subscribers exceed 2 million some six months after the firm’s official launch on Feb. 27. The number of stock trading accounts has been on an upward trend ever since -- 600,000 in March, 800,000 in April, 1.2 million in May, 1.4 million in June, and 1.7 million in July. The number of new accounts grew by 27.8 percent monthly. Monthly fund investments made via the brokerag
Sept. 7, 2020
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[Herald Interview] TBT aims to link innovation-seeking conglomerates with startups
The coronavirus pandemic is pressing Korean conglomerates to seek innovation for growth. At the same time, a recent change in the nation’s law, allowing a chaebol with a holding company structure to own a venture capital house, is expected to add vigor to the startup ecosystem here. Before the revision, corporations turned to venture capital houses to indirectly invest in startups. The revision, however, still highlights the existing role for local venture capital houses -- to intervene
Sept. 7, 2020
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Bio sector benefits most from K-New Deal Indexes
In line with the “Korean New Deal” economic stimulus package proposed by the administration of President Moon Jae-in, the nation’s sole bourse operator launched indexes on Monday that will be tracked by a 20 trillion won ($16.85 billion) “New Deal Fund.” On its first day, the bio index enjoyed a rally. The Korea Exchange announced the five stock indexes -- for secondary batteries, bio, internet and games, as well as a comprehensive index encompassing all four secto
Sept. 7, 2020
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Seoul stocks rebound on Samsung, bio gains
South Korean shares rebounded Monday, led by an advance in top cap Samsung Electronics and some bio stocks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.97 points, or 0.67 percent, to close at 2,384.22. Trading volume was moderate at about 1.2 billion shares worth some 16.9 trillion won ($14.2 billion), with gainers outnumbering losers 641 to 224. Foreigners sold a net 247 billion won, while retail investors purchased a net 543 bil
Sept. 7, 2020
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BOK to hold monetary policy meetings online if distancing hits Level 3
In continued efforts to combat the prolonged coronavirus outbreak, the Bank of Korea will reportedly operate its own video conferencing platform in mid-September and hold its monetary policy board meetings online if the current anti-virus steps are raised to the highest Level 3, officials said Monday. “The BOK has decided to implement its own video conferencing system in all regional headquarters as early as in the middle of this month after completing system optimization process
Sept. 7, 2020
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Seoul stocks open tad lower over new coronavirus concerns
South Korean shares opened slightly lower Monday on weak investor sentiment as the country's new coronavirus cases continue to stay at a three-digit figure. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.36 points, or 0.06 percent, to 2,366.89 in the first 15 minutes of trading. The index got off to a weak start, as investors take a wait-and-see mode over COVID-19 cases in the country. Late last week, South Korean authorities extended the enhanced social distancing scheme
Sept. 7, 2020
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Localization, dividends to remain hurdles for Standard Chartered Korea CEO’s 3rd term
Standard Chartered Bank Korea’s incumbent CEO Park Jong-bok was recently reappointed for a third term, but the weight on his shoulders is likely to remain heavy over the lender’s localization and dividends. For Park, who will begin his third term Jan. 8, one major task is to find a balance between the lender’s identity as a foreign bank operating in South Korea amid rivalry with local banking groups. Though it is still officially called Standard Chartered Bank Korea, Park ch
Sept. 6, 2020
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[Herald Interview] From organizing portfolios to educating heirs: Total wealth management for the superrich
Private banking and wealth management functions have long been deemed exclusive services for a limited range of customers, such as the owners of big corporations. But responding to the increasing population of high-net-worth asset holders -- such as entertainers, startup founders and people who inherit substantial sums -- local banks and brokerages have diversified their premium asset management functions. Samsung Securities, the brokerage arm of the Samsung conglomerate, was one of the leadi
Sept. 6, 2020
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[Newsmaker] Big Hit CEO Bang Si-hyuk likely to hit jack pot with IPO
The scheduled initial offering of Big Hit Entertainment, the label behind K-pop boy band BTS, is likely to make its CEO Bang Si-hyuk one of the wealthiest people in South Korea The Big Hit CEO is currently holding 12,377,337 shares, or 43.44 percent, of the company, according to the recent regulatory filing for the IPO. The entertainment agency plans to offer 7.13 million shares at a price between 105,000 won ($88) and 135,000 won. Should the offering price be set at 135,000 won, Bang&rsq
Sept. 6, 2020
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Some 40,000 retail traders come out empty-handed in Kakao Games IPO preorder
Although mobile game publisher Kakao Games’ initial public offering subscription last week was the talk of the town in South Korea, some retail investors who took part in the preorder session did not even receive a single share due to heated competition, according to news reports on Sunday. The gaming firm attracted a total of some 58.5 trillion won ($49.3 billion) from 417,000 people during its IPO subscription for retail investors, which took place Tuesday and Wednesday. The subscrip
Sept. 6, 2020
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Hypermarkets sell, shut stores amid COVID-19 fallout
South Korea‘s hypermarket chain operators are working quickly to sell their discount stores to improve their balance sheet, as fallout from the coronavirus deepens and the domestic retail industry’s makes a shift to online. As of Friday, Homeplus has agreed to sell three discount stores to undisclosed real estate developers since July, with the proceeds of the sales also under wraps. One is located in Ansan, Gyeonggi Province and the other two are in Daejeon. At least one more dis
Sept. 4, 2020
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Seoul stocks dip more than 1% on Wall Street plunge
The South Korean stock market dipped by more than 1 percent to snap a three-day winning streak on Friday as market heavyweights came under heavy selling pressure in line with a plunge on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 27.65 points, or 1.15 percent, to close at 2,368.25, after falling by 2.6 percent at one point. Trading volume was high at about 1.33 billion shares worth some 19.4 trillion won ($16.3 billion
Sept. 4, 2020
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Sign of an exit? Hahn & Co. moves to reduce Ssangyong Cement capital
Ssangyong Cement Industry has proposed reducing its equity capital to pursue higher dividend and enhance shareholder value. Market watchers say the move makes the case for a possible exit of South Korea‘s second-largest private equity house Hahn & Co. from the nation’s No. 1 cement maker by market share. Ssangyong Cement on Tuesday proposed to reduce equity capital to one-tenth to 50.4 billion won ($42.4 million) by November. As a result, the remainder, 455 billion won, will t
Sept. 4, 2020
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Seoul stocks open sharply lower on Wall Street plunge
South Korean shares opened sharply lower Friday, taking a cue from an overnight plunge on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 39.52 points, or 1.65 percent, to 2,356.38 in the first 15 minutes of trading. On Thursday (New York time), Wall Street was roiled by panic selling as investors dumped tech stocks. The tech-laden Nasdaq 500 plummeted 598.34 points, or 4.96 percent, to 11,458.1, marking the steepest fall since June. The Dow Jones Industrial Ave
Sept. 4, 2020
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How to become a shareholder in BTS label Big Hit
The recent news that the music label behind K-pop sensation BTS was going public thrilled not only market watchers and investors but also the boy band’s fans around the globe, collectively known as “Army.” While Big Hit Entertainment is anticipated to be listed on South Korea’s main bourse, Kospi, in October, there are two ways that potential retail investors can acquire the entertainment management agency’s stocks -- putting in preorder deposits for a public subs
Sept. 3, 2020
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[Herald Interview] QuantaMatrix seeks October IPO for overseas entry
Amid growing investor interest in the bio and health care industries, a local microbial diagnostic test developer is planning an initial public offering next month. QuantaMatrix, a spin-off of Seoul National University’s biophotonics and nanoengineering lab, is anticipated to list on the nation’s tech-heavy Kosdaq market. Its market debut is meant to take the lead in global clinical microbiology diagnostics, said Kwon Sung-hoon, chief executive officer of QuantaMatrix, in an interv
Sept. 3, 2020
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BTS impact spills over into Korean stock market
With Big Hit Entertainment, the label behind K-pop sensation BTS, pursuing an initial public offering next month, investors appear to be increasingly drawn to South Korea’s entertainment stocks. Some market analysts also painted a rosy picture of the scheduled IPO, forecasting that Big Hit will continue the momentum created in the market thanks to offerings of pharmaceutical firm SK Biopharmaceuticals and game publisher Kakao Games. The news of Big Hit filing an application for its mar
Sept. 3, 2020
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Kyobo chief to chair 2024 Youth Olympic committee
Shin Chang-jae, chairman of Kyobo Life Insurance, has been named the organizing chief for the Youth Olympic Games, a quadrennial global sports event that is to be held here in 2024, the company said Thursday in a release. In a joint inaugural meeting held at the Seoul Press Center, the Ministry of Culture, Sports and Tourism and Gangwon Province agreed to appoint Shin as president of the organizing committee for the 2024 Gangwon Winter Youth Olympic Games. “Based on the Olympic spiri
Sept. 3, 2020
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Seoul stocks extend winning streak to 3rd day on chip rally, vaccine hopes
South Korean shares extended gains to a third session Thursday, as major chipmakers rallied amid hopes for a recovery. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 31.53 points, or 1.33 percent, to close at 2,395.9. Trading volume was high at about 966 million shares worth some 17.2 trillion won ($14.5 billion), with gainers outnumbering losers 456 to 367. Foreigners bought a net 194 billion won, ending a five-day selling streak. Reta
Sept. 3, 2020
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COVID-19 to boost warehouse investment in Korea: CBRE
The novel coronavirus has accelerated demand for investment in South Korea’s grade-A logistics assets, beyond demand for prime offices and other safe assets, top officials from CBRE Korea said Thursday. Logistics centers, including fulfillment centers and cold storage warehouses, have been more resilient in Korea than any other commercial real estate in the wake of the COVID-19 pandemic in the first half of 2020, Claire Choi, head of research at CBRE Korea, said in a teleconference with
Sept. 3, 2020