Most Popular
-
1
Korea’s homegrown nanosatellite successfully launches into space
-
2
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
3
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
4
Nicaragua shuts down Seoul embassy
-
5
Hybe's multilabel system tested amid conflict with Ador
-
6
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SNU profs to suspend treatment for one day
-
8
SK hynix pledges W20tr to ramp up DRAM production at home
-
9
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
10
Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
-
NH Prime REIT to invest in NY’s 195 Broadway, Paris’ Tour Eqho
NH Prime REIT said Sunday it has decided to invest in landmark buildings in New York, Paris and Helsinki to expand its portfolio. South Korean banking group NH Financial’s real estate investment trust affiliate plans to purchase beneficiary certificates of 195 Broadway, a 29-story building in New York City with luxury brand Gucci as a key tenant and Tour Eqho in Paris that has global accounting firm KPMG taking most of the floors. It will invest in securities of Finland-based OP Finan
June 28, 2020
-
IPO stocks fly high, appetite for newcomers set to grow further
Newly listed stocks enjoyed substantial gains in the first half this year, fueling an investor rush amid volatile market trends, data showed Sunday. A total of 12 companies made debuts on the main KOSPI and the tech-laden KOSDAQ markets, nine of which far exceeded their IPO prices, according to the data from the bourse operator Korea Exchange (KRX). As of Friday, these firms' stock price hikes averaged as high as 52.4 percent. Among them, Leading Edge Technology Co. Ltd. closed Friday at 20,
June 28, 2020
-
US drug firm backed by GC LabCell attracts $78m in Series A funding
GC LabCell, a manufacturer of cell therapy products, said on Friday that its US strategic partner Artiva Biotherapeutics has raised $78 million in Series A funding round. Launched in March last year jointly by South Korean drugmaker GC Pharma and GC LabCell, Artiva focuses on research and development of cell therapy drugs and commercialization of GC LabCell’s anti-cancer drugs based on natural killer cells, a type of immune cell in the human body. Among the investors of the funding ro
June 26, 2020
-
Seoul stocks up 1% on tech gains
South Korean stocks closed 1.05 percent higher Friday as large-cap tech shares rallied. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) went up 22.28 points to close at 2,134.65. Trading volume was moderate at 728 million shares worth 9.4 trillion won ($7.8 billion), with gainers outpacing losers 432 to 395. Foreigners and individuals scooped up a net 61.5 billion won and 106.2 billion won, respectively, while institutions offloaded a net 163
June 26, 2020
-
Seoul stocks open higher on Wall Street gains
South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) added 15.3 points, or 0.72 percent, to 2,127.67 in the first 15 minutes of trading. On Thursday (local time), US stocks finished higher on the back of a rally in bank shares. The Dow Jones Industrial Average rose 1.18 percent, the tech-laden Nasdaq gained 1.09 percent and the S&P 500 rose 1.1 percent. In Seoul, most large caps got off to a strong s
June 26, 2020
-
Retail investors angry over new stock tax scheme
Market concerns grew over a new tax plan on any financial investment, Thursday, with some criticizing that the scheme imposes a heavy burden on retail investors seeking small profits. The government unveiled a set of capital gains taxation of up to 25 percent on annual capital gains worth over 20 million won ($16,600) starting from 2023, while lowering the stock transaction tax. With individuals expressing concerns online, a petition demanding the withdrawal of the new tax scheme on
June 25, 2020
-
[Herald Interview] ‘Stock investing should be fun, not a battle’
What surprised John Lee, a former Wall Street fund manager who returned home six years ago, was the widespread perception among South Korean retail investors that real estate is a much safer option for investments than stocks, which they considered too risky. Six years on, things have changed, particularly in recent months with a massive inflow of retail investors to the local stock market, said Lee, now CEO of Seoul-based Meritz Asset Management. “They have learned lessons,” he sai
June 25, 2020
-
Seoul stocks sink 2.27% on renewed virus woes
South Korean stocks tumbled more than 2 percent Thursday as the new cases of the novel coronavirus surged, dimming investors' hopes for a quick global economic recovery, analysts said. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 49.14 points, or 2.27 percent, to close at 2,112.37. Trading volume was heavy at 1 billion shares worth 10.6 trillion won ($8.8 billion), with losers far outnumbering winners 732 to 145. Foreigners and insti
June 25, 2020
-
[News Focus] Tough apartment, stock rules frustrate ordinary Koreans
SEJONG -- A number of salaried people and ordinary households in South Korea have been resorting to stocks and real estate as their two main investment. But their investments according to market principles have been restricted under the Moon Jae-in administration, which has dumped a variety of regulations on the market. Following a series of regulations to the real estate market over the past three years to 2017, the Moon government is poised to tackle the stock market in terms of enhanced ta
June 25, 2020
-
Stocks open sharply lower on Wall Street tumble
South Korean stocks opened sharply lower Thursday, tracking overnight losses on Wall Street amid concerns over a second wave of the novel coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.13 points, or 24.47 percent, to 2,137.04 in the first 15 minutes of trading. On Wednesday (local time), US stocks closed lower as investors were concerned over rising new coronavirus infections in major countries. The Dow Jones industrial average fell 2.7 percent, the S&am
June 25, 2020
-
[Banks of Future] S. Korean banks transforming for ‘untact’ era
South Korean banks are going through their biggest transformation since the postwar era in the face of rising online banks and the fast-changing consumer trend favoring non-contact services. With the growing preference for “untact” -- non-face-to-face contact -- the lenders have been closing many brick-and-mortar branches, while giving more authority to chief digital officers who were hired from outside. The combined number of physical branches of all commercial banks here stood
June 24, 2020
-
Optimus fund freeze spooks investors as scrutiny intensifies
South Korea’s investment house Optimus Asset Management froze two more feeder funds worth a combined 29.7 billion won ($24.75 million) Wednesday, as prosecutors started to look into fraud allegations against the troubled asset manager. At the same time, Korea’s top financial regulator vowed to carry out a thorough inspection of all privately pooled funds here in a preemptive move to protect fund investors. Optimus on Wednesday notified NH Investment & Securities that the fund
June 24, 2020
-
Seoul stocks close 1.42% higher on economic recovery hope, N. Korean relief
South Korean stocks closed 1.42 percent higher Wednesday on the back of upbeat economic data from the United States and Europe and eased tensions with North Korea, analysts said. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 30.27 points to close at 2,161.51. Trading volume was heavy at 895 million shares worth 12.7 trillion won ($10.6 billion), with gainers outpacing losers 518 to 319. Institutions scooped up a net 118.2 billion won
June 24, 2020
-
Seoul stocks open higher on Wall Street gains
South Korean shares opened higher Wednesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) added 19.76 points, or 0.93 percent, to 2,151.00 in the first 15 minutes of trading. Major indexes in the United States closed higher Tuesday on recovery hopes, led by a jump in tech shares. The Dow Jones Industrial Average rose 0.58 percent to end at 26,156.1, while the tech-laden Nasdaq gained 0.74 percent to close at a fresh record high of 10,131.
June 24, 2020
-
Social contributions by financial groups hit record high in 2019
The combined spending by Korean financial institutions on social contributions hit a record high in 2019, data showed Tuesday. A total of 22 financial institutions in Korea, including five major local lenders and Korea Credit Guarantee Fund as well as Korea Housing Finance Corp., spent 1.3 trillion won ($935 million) on social contribution activities last year, the highest figure since 2006 when the Korea Federation of Banks started compiling relevant data. The figure jumped 15 percent
June 23, 2020
-
After choppy session, Seoul stocks end higher on eased Sino-American trade woes
South Korean shares traded higher Tuesday on eased concerns related to the US-China trade dispute. The Korean won rose against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index (KOSPI) added 4.51 points, or 0.21 percent, to close at 2,131.24. Trading volume was high at about 906 million shares worth some 13.3 trillion won ($11 billion), with losers outnumbering gainers 586 to 262. Foreigners sold a net 55.6 billion won, while retail investors purchased a n
June 23, 2020
-
Korea Investment & Securities teams with KT to build AI platform for financial services
Korea Investment & Securities has joined a local alliance to build an artificial intelligence platform for the digital transformation of the financial sector, according to the brokerage firm on Tuesday. The network operator and stock brokerage firm signed a memorandum of understanding to jointly develop AI systems, a project led by Korean telecommunications giant KT. Launched in February this year, the alliance, dubbed AI One Team, consists of tech giants, universities and state-run res
June 23, 2020
-
Celltrion chief says coronavirus vaccine to be marketable by H1 next year
Celltrion co-founder and Chairman Seo Jung-jin said Tuesday the biosimilar firm’s novel coronavirus vaccine development is on its way as scheduled, expressing confidence that the treatment will become marketable once clinical trials are complete. As one of some 200 drug developers in the world in the race to develop a treatment for COVID-19, Celltrion is poised to go through a human clinical trial with its drug candidate on July 16, following tests on lab animals such as hamsters and monk
June 23, 2020
-
US was largest destination for S. Korean investment in 2019: BOK
The United States continued to remain the largest destination for South Korea's overseas financial investment last year, accounting for nearly one-third of the country's financial investment overseas, central bank data showed Tuesday. As of end-2019, the country's financial investment in the United States came to $413.1 billion, up $63.1 billion from a year earlier, according to preliminary data from the Bank of Korea (BOK). The increase marks the sharpest rise among all countries and regions
June 23, 2020
-
Seoul stocks open higher on Wall Street tech gains
South Korean shares opened higher Tuesday, taking a cue from stellar US tech gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) added 29.24 points, or 1.37 percent, to 2,155.97 in the first 15 minutes of trading. The increase was largely attributed to the gains on Wall Street, led by tech giants Apple and Microsoft. The tech-laden Nasdaq gained 110.35 points, or 1.11 percent, to close at a fresh record high of 10,056.47 Monday (US time). Apple CEO Tim Cook annou
June 23, 2020