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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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Shinhan BNP Paribas draws W520b to support domestic solar projects
Shinhan BNP Paribas said Sunday it has clinched a combined 520 billion won ($430.1 million) commitment to create a fund to support small firms dedicated to 280-megawatt solar energy projects across South Korea. The Seoul-based asset management firm’s deal comes amid growing new and renewable energy momentum buttressed by the nation’s recent environment initiative, called “green new deal,” aimed at investing in environmentally-friendly energy businesses and creating jobs
June 7, 2020
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IGIS Asset Management to list 1st REIT on Kospi
South Korea’s biggest real estate asset management firm IGIS Asset Management said Friday that it is eyeing its first real estate investment trust to list on the nation’s main bourse Kospi in mid-July. IGIS Value Plus REIT is designed to indirectly invest in the commercial Taepyeongno Building. Located in central Seoul next to the Korea Chamber of Commerce and Industry, the 23-story office building was valued at 302.5 billion won ($250.6 million) as of July 1 last year, IGIS Asset
June 5, 2020
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Seoul stocks up for 6th straight session; won jumps against dollar
South Korean shares closed sharply higher Friday, extending their winning streak to a sixth session on global stimulus hopes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) surged 30.69 points, or 1.43 percent, to close at 2,181.87, reaching the highest point since Feb. 20. Trading volume was moderate at about 840.1 million shares worth some 12.6 trillion won ($10.4 billion), with gainers outnumbering losers 586 to 249. Institutions boug
June 5, 2020
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Credit loan balance for stock investment exceeds W11tr
The balance of credit loans taken out for stock investments by individuals has reached over 11 trillion won ($9.1 billion), data showed Friday. According to data from the Korea Financial Investment Association, the balance for credit financing marked nearly 11.47 trillion won as of Wednesday, the highest figure since Oct. 11, 2018, when it marked 11.57 trillion won. As stock markets around the globe were hit hard by the coronavirus pandemic, the balance dipped to 6.41 trillion won on March 25
June 5, 2020
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Seoul stocks open higher on economic recovery hopes
South Korean shares opened higher Friday, tracking overnight gains on Wall Street helped by hopes of an economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.64 points, or 0.31 percent, to 2,157.82 in the first 15 minutes of trading. The gain was mainly attributed to hopes for an economic recovery, fueled by the European Central Bank's announcement to additionally purchase assets to fight the economic fallout from the new coronavirus. The Dow Jones Industrial Ave
June 5, 2020
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Social Solidarity Bank, JPMorgan to support micro-businesses
JPMorgan will provide 480 million won ($394,000) worth of immediate support, relief and inclusive recovery fund to small and micro-businesses hit hard by the unexpected coronavirus pandemic in South Korea, according to the local micro-credit institution Social Solidarity Bank on Thursday. As part of the relief efforts, the local unit of the US-based brokerage firm will collaborate with the nongovernmental organization to help SMEs run by female owners digitalize their operations and make online
June 4, 2020
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Seoul stocks hit over 100-day high amid recovery hopes
South Korean shares extended their winning streak to a fifth consecutive session Thursday, reaching the highest in over 100 days on economic recovery hopes. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 4.18 points, or 0.19 percent, to close at 2,151.18, the highest since Feb. 21. Trading volume was high at about 1.4 billion shares worth 15.8 trillion won ($13 billion), with losers outnumbering gainers 441 to 391. The index got off to
June 4, 2020
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Global X launches actively-managed emerging markets bond ETF
New York-based provider of exchange-traded funds Global X ETFs has launched an emerging markets bond ETF in its first actively managed strategy, its parent Mirae Asset Global Investments said Thursday. The product, dubbed Global X Emerging Markets Bond ETF, is listed on the New York Stock Exchange. It will target US dollar-denominated securities including fixed-rate and floating-rate debt instruments issued by sovereign, quasi-sovereign, and corporate entities from emerging market countries. T
June 4, 2020
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Seoul stocks open higher on economic recovery hopes
South Korean stocks opened higher Thursday on hopes of an economic recovery, led by chipmakers. The benchmark Korea Composite Stock Price Index (KOSPI) rose 32.02 points, or 1.49 percent, to 2,179.02 in the first 15 minutes of trading. The gain is largely attributed to rising hope for an economic rebound. The country's largest-ever extra budget proposal to fight the fallout of the new coronavirus also fueled the optimism. Large caps mostly traded higher with chipmakers, financials and shipb
June 4, 2020
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Kospi hits 3-month high in hopes of economic recovery
South Korea’s main bourse Kospi on Wednesday rose 2.87 percent to 2,147 points, the highest in more than three months, with foreign and institutional investors scooping up local shares anticipating an economic recovery. It was the first time that the index moved above the 2,100-point mark since Feb. 25, when it closed at 2,105.49. Kospi also saw a 47 percent increase since it hit rock bottom at 1,430 during a trading day in March under market pressure over COVID-19. A record high of 16.8
June 3, 2020
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Ardian vows more Asian investments as historic secondary fund closes
France-based international private investment house Ardian said Wednesday it seeks to accelerate its push for more secondary investments in Asia, as the company has reached a historic-high $19 billion commitments to its new secondary fund from global investors. Secondary investment refers to a purchase of existing private assets and is considered a source of liquidity for institutional investors. The latest fundraising is expected to underpin Ardian’s position as a lead secondary investo
June 3, 2020
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Mirae Asset Global Investments seeks 1st REITs IPO in Q3
South Korea’s investment firm Mirae Asset Global Investments said Wednesday it is eyeing its first initial public offering for its real estate investment trust followed by a listing on the nation’s main bourse Kospi. The REIT is designed to invest in a commercial space of the commercial-residential complex dubbed Gwanggyo Central Prugio City. The real estate asset is located in a planned city of Gwanggyo in Gyeonggi Province, located some 25 kilometers south of Seoul. The REIT is e
June 3, 2020
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Seoul stocks spike to over 3-month high amid recovery hopes, Korean won sharply up
South Korean shares extended their winning streak to a fourth consecutive session on Wednesday, hitting a more than three-month high amid economic recovery hopes. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 59.81 points, or 2.87 percent, to close at 2,147.00, the highest since Feb. 25. Trading volume was high at about 1.1 billion shares worth a record high of 16.8 trillion won ($13.8 billion), with gainers outnumbering loser
June 3, 2020
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Social casino gaming firm DoubleDown Interactive eyes $100m US IPO
South Korean social casino game developer and publisher DoubleDown Interactive is seeking to get listed on the tech-heavy Nasdaq bourse in the United States, according to its prospectus Wednesday. For its initial public offering, the Seoul-based company plans to issue 400,000 new common shares. Also up for subscriptions will be 360,000 existing shares, or 19.4 percent stake as of current, owned by STIC Investment. DoubleDown Interactive said the book building process to confirm the offered pri
June 3, 2020
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Seoul stocks open higher on Wall Street gains
South Korean shares opened sharply higher Wednesday, taking a cue from overnight Wall Street gains amid hopes of economic reopening and eased Sino-American political turmoil. The benchmark Korea Composite Stock Price Index (KOSPI) rose 32.86 points, or 1.57 percent, to 2,120.05 in the first 15 minutes of trading. The Dow Jones Industrial Average advanced 267.63 points, or 1.05 percent, to close at 25,742.65 on Tuesday (New York time). Such an advance followed reports of a reduction of frict
June 3, 2020
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Shinhan BNP Paribas manages alternative portfolio for NHIS
Seoul-based Shinhan BNP Paribas Asset Management said Tuesday it has started to work as a fund manager for the National Health Insurance Service’s 1.4 trillion won ($1.14 billion) alternative investment for four years. Shinhan BNP Paribas is one of the two lead fund managers, along with fellow Seoul-based investment house KB Asset Management. The two partners, selected in late April, will manage 700 billion won of assets each and choose more external partners to join their funds of
June 2, 2020
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WeWork names real estate expert as Asia-Pacific director
Real estate expert Samit Chopra was named managing director of WeWork Pacific, it announced Tuesday. Chopra is tasked with overseeing markets of the space-as-a-service platform, including Australia, Indonesia, Malaysia, South Korea, the Philippines, Singapore, Thailand and Vietnam. Based in Singapore, Chopra will be responsible for WeWork Pacific’s profit and loss management, go-to-market strategy, sales leadership, growth and innovation and talent development, according to WeWork.
June 2, 2020
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Seoul stocks up for 3rd day on recovery hopes
South Korean stocks rose by more than 1 percent Tuesday, extending a winning streak to a third consecutive session on hopes for economic reopening, despite uncertainties from the spreading protests against police violence in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.11 points, or 1.07 percent, to close at 2,087.19. Trading volume was heavy at about 985.1 million shares worth some 10.1 trillion won ($8.2 billion
June 2, 2020
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Hanwha Asset bets on e-commerce, data, health care stocks amid coronavirus
Seoul-based Hanwha Asset Management said Tuesday it is betting on new growth opportunities of companies dedicated to e-commerce, data infrastructure and health care by creating a fund investing in such stocks at home and abroad. The strategy comes amid consumer concerns about face-to-face contact amid the worldwide coronavirus outbreak, which rather translates into higher demand for companies in such sectors, company officials said. The demand stems from changes in people’s lifestyle,
June 2, 2020
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Laundry service startup Laundrygo snaps up W17b
South Korea’s same-day laundry service startup Laundrygo said Tuesday it had raised a 17 billion won ($13.9 million) series B round funding from multiple venture capital houses, amid growing demand for daily life services offered without physical contact in the pandemic era. New investors in the latest round include Korea Investment Partners, Aju IB Investment, KT Investment, Samsung Venture Investment, DS Asset Management. Existing investors Altos Ventures and Hana Ventures also joined
June 2, 2020