Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
3
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
4
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
5
DP leader says he will meet Yoon without conditions
-
6
Seoul to promote luxurious side of the city
-
7
First-ever meeting of president, opposition chief set to finally happen
-
8
NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
-
9
Experts raise concerns about Japan putting pressure on Naver over Line
-
10
Samsung mobile chief, Google device head meet in Seoul
-
BOK likely to cut interest rate amid virus pandemic
Amid the prolonged economic fallout from the COVID-19 pandemic, the Bank of Korea may slash its policy rate at the next monetary policy board meeting, according to local brokerages Sunday. The yield of three-year treasury bonds on Friday closed at 0.87 percent, down 0.13 percentage point from end-April, while that of 10-year bonds fell to 1.38 percent, down 0.14 percentage point during the same period. Bond prices, which move inversely to yields, have been on a sharp decline since market expe
May 17, 2020
-
Nexon's market cap tops W20tr on soaring demand amid virus pandemic
Nexon Co. became the first South Korean game developer to log a market capitalization of more than 20 trillion won ($16 billion), data showed Sunday, on the back of soaring demand for home entertainment contents during the virus pandemic. The gaming giant saw its market value reach 1.9 trillion yen (21 trillion won) on the Tokyo Stock Exchange as of Friday, with its shares closing at 2,152 yen, up 3.86 percent from a session earlier, industry data showed. Shares in Nexon jumped a whopping 14
May 17, 2020
-
Seoul shares set to trade in tight range next week on pandemic, US-China tension
South Korean stocks are expected to trade in a tight range next week due to the growing tension between the United States and China, coupled with a rise in new virus cases here, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 1,927.28 points Friday, down 0.95 percent from a week earlier. On Monday, the stock market lost ground on growing concerns over new cluster infections of COVID-19 in the capital city. South Korea had added fewer than 15 cases of COVID-1
May 16, 2020
-
Coupang, KB Kookmin to start early payout for virus-hit SMEs
E-commerce giant Coupang said Friday it has partnered with KB Kookmin Bank to launch early payout services for merchants, through which small and medium-sized business owners will receive payment for their sales in advance of the regular payday. Through the early payout on Coupang’s Marketplace, the nation’s biggest online platform for merchants, the e-commerce firm aims to financially support the coronavirus-hit SMEs, who are in need of cash either to pay their employees’ sa
May 15, 2020
-
Seoul stocks nearly flat after choppy session
South Korean stocks closed slightly higher Friday after a choppy session as investors sat on the sidelines over the growing concerns over the diplomatic and economic tension between the United States and China. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index moved up 2.32 points, or 0.12 percent, to finish at 1,927.28. Trading volume was moderate at 850 million shares worth 9.55 trillion won ($7.75 billion), with gainers outpacing losers 485 to 360.
May 15, 2020
-
Seoul stocks open higher on Wall Street gains
Seoul stocks opened higher Friday, tracking the overnight gains from Wall Street as investors welcomed the gradual reopening of businesses across the globe, including the United States. The benchmark Korea Composite Stock Price Index added 7.64 points, or 0.4 percent, to 1,932.60 in the first 15 minutes of trading. After trading in negative terrain earlier in the sessions, the Dow Jones Industrial Average eventually advanced 1.62 percent overnight, while the Nasdaq Composite gained 0.91 perc
May 15, 2020
-
Yuanta Korea offers access to US stock reports
Yuanta Securities Korea said Thursday it has partnered with multinational financial market data provider Refinitiv to mount a new stock search engine function on its trading system for investors in US stocks. The service, dubbed “Reuters tRadar,” will allow users to access Refinitiv’s stock reports related to US stocks and their forecasts on the company performance based on its Institutional Brokers’ Estimate System database, which comprise the combined estimates of som
May 14, 2020
-
Seoul stocks end lower on grim economic outlook
South Korean stocks closed lower Thursday as investor sentiment was dented by a grim forecast for global economic recovery amid the novel coronavirus pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.46 points, or 0.80 percent, to close at 1,924.96 Trading volume was high at 744 million shares worth 9.3 trillion won ($7.5 billion), with losers outnumbering gainers 638 to 229. The index never moved above the flatline through
May 14, 2020
-
Foreign investors expected to return to stock market from H2
Foreign investors will return to the Korean stock market starting from the second half of the year if the US job market hits rock bottom in June, according to a local brokerage Thursday. “If figures on the US labor market hit a low point in June, offshore investors are highly likely to inject their capital into the local stock market from July,” said Lee Eun-taek, an analyst at KB Securities. “They will eye large-cap stocks first.” The US’ monthly employment repo
May 14, 2020
-
Seoul stocks open lower on Wall Street losses
Seoul stocks opened lower Thursday, tracking losses on Wall Street amid the new coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) fell 24.37 points, or 1.26 percent, to 1,916.05 in the first 15 minutes of trading. US stocks plunged Wednesday (local time) after Federal Reserve Chair Jerome Powell expected a slow economic recovery from the novel coronavirus fallout. Investor sentiment was also hit by growing concerns over tensions between the United States and Chin
May 14, 2020
-
Credit card use posts smaller dip in April amid virus slowdown
Credit card spending by Koreans dipped at a slower rate in April than the previous month amid the COVID-19 infection slowdown, industry data showed Wednesday. Combined credit card spending last month decreased by 2.9 percent from a year earlier to reach some 54.5 trillion won ($44.5 billion), marking a smaller dip compared to 6.7 percent in March, said Rep. Park Kwang-on of the ruling Democratic Party of Korea, quoting data compiled by eight credit card issuers: Shinhan, Samsung, KB Koo
May 14, 2020
-
[Herald Interview] ‘Private investor engagement key to climate-resilient world’
In the climate finance world, money goes not only to the countries most vulnerable to the impacts of climate change, but also to innovative, eco-friendly infrastructure projects that help the world reduce greenhouse gas emissions. Striking the balance between the two themes -- adaptation and mitigation -- is one of the primary missions of the Green Climate Fund, the world’s largest fund dedicated to helping developing countries take climate actions. The fund serving the Paris Agreement on
May 13, 2020
-
Seoul office market to face pandemic impact in Q2: report
Seoul’s prime office building market will face flagging demand due to the coronavirus coupled with new supply in the second quarter, which will create more empty space within the properties and reduce their cash flow, Savills Korea said in a report Wednesday. According to the real estate services firm, real estate investors in South Korea are expected to take a cautious stance as uncertainties in the leasing market are likely to erupt in terms of the proposed buyers’ financing cond
May 13, 2020
-
Banks' Q1 net profit dips 18% on loan-loss provisions
South Korean banks saw their first-quarter earnings decline 17.8 percent from a year earlier due to increased loan-loss provisions, data showed Wednesday. The combined net profit stood at 3.2 trillion won ($2.6 billion) for the January-March period, compared with a profit of 4 trillion won a year earlier, the Financial Supervisory Service said in a statement. Preliminary interest income for the first quarter stood at 10.1 trillion won, down 0.2 percent from a year earlier.
May 13, 2020
-
Seoul stocks rebound on bargain hunting
South Korean stocks closed higher Wednesday as investors scooped up bargains amid renewed concerns over the trade row between the United States and China. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) moved up 18.25 points, or 0.95 percent, to finish at 1,940.42. Trading volume was moderate at 608 million shares worth 8.79 trillion won ($7.18 billion), with gainers outpacing losers 426 to 403. The local stock market got off toward a weak
May 13, 2020
-
Douzone Bizon, Celltrion Pharm join MSCI index, but Hanjin KAL omitted
Morgan Stanley Capital International has added two large and mid-cap South Korean stocks -- Douzone Bizon and Celltrion Pharm -- to its global and regional equity index, as part of rebalancing in May, according to industry sources Wednesday. The US company added information and communications technology solutions and services provider Douzone Bizon and Celltrion Pharm, a pharmaceutical firm under Celltrion, to the MSCI Korea Index. In the meantime, some firms such as biopharma firm Meditox, O
May 13, 2020
-
Shinhan’s investment in HK’s K-pop fund faces redemption delay
Shinhan Investment has received a request to delay K-pop-related private equity fund redemption from a Hong Kong-based asset management firm due to underperforming entertainment business, according to industry sources Wednesday. The brokerage unit of the Shinhan Financial Group invested 20 million euros ($21.7 million) in Royal China International Asset Management’s K-pop Showbiz Asia II Fund in April last year. It was structured to earn profits from ticket sales by IME International,
May 13, 2020
-
Kakao joins S. Korea's top-10 market cap heavyweights
Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, has entered the top ten stocks by market capitalization on a stellar quarterly performance, data showed Wednesday. The homegrown tech giant's market cap rose to 18.63 trillion won ($15.19 billion) as of 10:31 a.m., making it the 10th largest on the main bourse. The company is close behind South Korea’s top automaker Hyundai Motor Co., which is 9th with a market cap of 19.7 trillion won. Samsung C&T
May 13, 2020
-
Seoul stocks open lower on escalating US-China tension
South Korean stocks opened lower Wednesday tracking overnight losses on Wall Street after US President Donald Trump continued to excoriate Beijing amid their prolonged trade row. The benchmark Korea Composite Stock Price Index (KOSPI) fell 15.74 points, or 0.82 percent, to 1,906.43 in the first 15 minutes of trading. The Dow Jones Industrial Average lost 1.89 percent overnight, and the tech-heavy Nasdaq Composite slid 2.06 percent on renewed concerns over the Sino-American trade tension. Tru
May 13, 2020
-
Relief fund donation errors a headache for card issuers
On the first day South Korea started to receive applications for COVID-19 relief cash, local card issuers assigned to handle payment processes were met with a flood of unexpected inquiries -- to cancel subsidies donated by beneficiaries mistakenly. According to credit card companies, calls from recipients surged demanding to withdraw their donation to the state, saying they mistakenly clicked the button. Fund applicants can donate part or all of their subsidies to the state when filling out t
May 13, 2020