Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Leadership reshuffles to sweep across banking industry
The Korean financial circle is expected to undergo extensive reshuffling in the upcoming months as the chief executive officers of major banking groups will finish their terms early next year. Among them are Shinhan Financial Group Chairman Cho Yong-byoung, whose term will last until the general shareholders meeting slated for March next year. While a candidate recommendation committee will kick off in January, Cho’s bid for reappointment will largely depend on the result of an ongoin
Aug. 13, 2019
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KRX to launch Kospi 200 weekly options
South Korea’s bourse operator Korea Exchange (KRX) said Tuesday it will introduce weekly options contracts based on the Kospi 200 index on Sept. 23, in a bid to boost the local derivatives market. The Kospi 200 options will be introduced every Thursday and expire a week later. The new product will contribute to the diversity of options contracts on Kospi 200, comprised of the largest listed common stocks traded on the nation’s main bourse and widely used as a benchmark, according to
Aug. 13, 2019
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Daily stock turnover dips in July amid market turmoil
Daily stock turnover in South Korea dropped to the lowest level of the year in July, data showed Sunday, apparently reflecting investor sentiments spooked by escalating trade disputes between the United States and China, as well as South Korea's own trade haggling with Japan.The daily trading volume of local stocks came to some 8.6 trillion won ($7.1 billion) last month, according to the Korea Exchange (KRX), the operator of the Seoul bourse. The reading marks a drop of 4 percent from the same m
Aug. 11, 2019
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Seoul shares may face volatile sessions next week amid trade woes
Seoul stocks may face increased volatility next week, largely depending on the development of an ongoing US-China trade row, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 0.9 percent at 1,937.75 points on Friday helped by strong export data in China and expectations that the United States and China will resume their negotiations in September.This week, the main index shed 3 percent as investors remained jittery over the escalating trade feud between Was
Aug. 10, 2019
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Investors eye leveraged, inverse ETFs amid high market volatility
Investors are flocking to high-risk leveraged and inverse exchange-traded funds in South Korea, resulting in an increase in the daily average trading volume.According to the stock market operator Korea Exchange, the combined daily average trading volume of leveraged and inverse ETFs from July 26 to Thursday amounted to nearly 1.3 trillion won ($1.1 billion). It is 81.3 percent higher compared to the corresponding figure of 701.7 billion won in June. A leveraged ETF uses financial derivativ
Aug. 9, 2019
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BOK report hints at possible rate cut in near future
South Korea's central bank again hinted at a possible rate reduction in the near future Thursday, saying the escalating trade dispute between the United States and China, as well as the country's own trade conflict with Japan, may put additional downward pressure on Asia's fourth-largest economy.The Bank of Korea "plans to maintain the easing stance of its monetary policy as upward pressure on price increases is expected to remain weak, while the growth of the local economy remains slow,&qu
Aug. 8, 2019
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Seoul stocks extend gains, won advances late Thursday morning
Seoul stocks extended gains late Thursday morning although investors remain wary over the worsening US-China trade war and Japan's export curbs. The won gained against the US dollar.The benchmark Korea Composite Stock Price Index rose 20.57 points, or 1.1 percent, to 1,930.28 as of 11:20 a.m. The main index shed 6.3 percent in the past six sessions. Japan's trade ministry on Wednesday officially announced the exclusion of South Korea from its "whitelist" of trusted trading partners tha
Aug. 8, 2019
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Seoul stocks dip for 6th straight session, Korean won slightly up amid US-China trade war woes
South Korean shares fell for the sixth consecutive session on Wednesday as market sentiment still remained fragile over escalating trade tensions between Washington and Beijing, despite some signs of calm after China moved to stabilize its currency. The Korean won held steady against the US dollar.The benchmark Korea Composite Stock Price Index declined 7.79 points, or 0.41 percent, to 1,909.71, marking the lowest level since Feb. 18, 2016, when the index stood at 1,908.84.It was the first time
Aug. 7, 2019
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S. Korea to launch M&A consultative body in response to Japan’s export curbs
South Korea’s financial authorities said Wednesday they plan to launch a consultative body by the end of the month to help local firms seeking mergers and acquisitions that could reduce the country’s dependency on imported materials from Japan. The plan is in line with the government’s contingency plans -- announced a few days ago in response to Japan’s decision to remove Korea from its list of trusted trade partners -- including financial support for firms eyeing a foray
Aug. 7, 2019
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CarrieSoft to be listed on Kosdaq this month
CarrieSoft announced Tuesday that it plans to get listed on South Korea’s secondary bourse Kosdaq on Aug. 23.The firm first began with the YouTube channel “Carrie and Toys” in 2014 and exclusively produces kids’ contents. It is home to the iconic character “Carrie,” who reviews popular toys and goods. The character has evolved and now has own branded products. Last year, CarrieSoft’s sales reached 10 billion won ($8.25 million) with an operating lo
Aug. 6, 2019
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Kospi dips under 1,900 for first time in 3 years
South Korea’s benchmark Kospi dipped below the 1,900 mark for the first time in three years Tuesday, with risks stemming from the ongoing trade row between Seoul and Tokyo, the intensifying trade war between Washington and Beijing, and Pyongyang’s latest missile launches pushing the market down. The Kospi fell 1.51 percent from the previous trading to close at 1,917.5. It rebounded slightly after falling to 1,891.81 in the early trading hours. The 1,891.81 point marked the lowes
Aug. 6, 2019
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Korean won dips further amid looming currency war
The South Korean won continued to sink to new lows against the US dollar Tuesday amid escalating trade tensions between the world's two largest economies that now appear to be set to include a currency war.After opening at 1,220.00 won, the local currency was changing hands at 1,217.45 won with the US dollar as of 9:37 a.m., down 2.15 won from the previous session's close.On Monday, the won closed at 1,215.30 to the dollar, the lowest in over three years.The won's continued decline came after Be
Aug. 6, 2019
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Korea's current account surplus surges to 8-month high in June
South Korea's current account surplus reached an eight-month high in June on a goods account surplus and record high returns from foreign investment, central bank data showed Tuesday.The country's current account surplus came to $6.38 billion in the month, the highest since October when the country posted a $9.35 billion surplus, according to the preliminary data from the Bank of Korea. The reading also marks the second consecutive month of surplus after the country posted its first current acco
Aug. 6, 2019
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KRX halts trading on Kosdaq as it breaches 600 points
South Korea’s secondary bourse Kosdaq sank below the psychologically important 600-point threshold for the first time in 17 months on Monday, triggering the stock exchange to temporarily halt trading as investor sentiment plummeted due to the escalating trade spat between Seoul and Tokyo. The Korean won also traded at a three-year low against the US dollar, breaking its own significant 1,200-won mark. It closed at 1,215.30 won after hitting 1218.30 won at 10:40 a.m., marking its lowest lev
Aug. 5, 2019
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Bourse operator halts program trading as Kosdaq plunges
Program trading of shares listed on South Korea's secondary Kosdaq market was briefly halted Monday as the market's index plunged over global trade disputes, the bourse's operator said. Program trading was halted for five minutes starting at 2:09 p.m. after the Kosdaq index slipped more than 6 percent, the Korea Exchange said in a statement. It was the first time since June 24, 2016, that the "sidecar" was activated according to exchange rules.South Korea's currency and stocks lo
Aug. 5, 2019
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S. Korea to expand state budget to cope with Japan’s trade curbs
The ruling party, government and presidential office on Sunday vowed to add at least 1 trillion won ($833 million) to next year’s state budget, in an effort to expand fiscal space amid escalated trade tension with Japan.They also agreed to kick off a task force to promote the manufacturing competitiveness of local parts, components and equipment, to make up for the loss of Japanese imports. “The government should swiftly execute the corresponding amount from the (recently appro
Aug. 4, 2019
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Seoul stocks dip to 7-month low, Korean won sinks amid escalating trade tensions
South Korean stocks sank to finish below the psychologically important 2,000-point threshold Friday, by falling 1 percent, in the face of escalating trade tension between its two largest trading partners, and its own with Japan.The Korean won fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index shed 19.21 points, or 0.95 percent, to 1,998.13, the lowest in seven months. Trading volume was low at 427 million shares worth 5.21 trillion won ($4.34 billion), with losers
Aug. 2, 2019
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BOK vows market stabilization efforts amid escalating trade tensions
The Bank of Korea said Friday that it will remain vigilant against any potential volatility in local financial markets caused by escalating trade tension with Japan. "(The BOK) believes there is a possibility that the volatility in the local financial and foreign exchange markets may rise depending on how Japan's export restrictions are actually implemented," the central bank said in a statement after an emergency meeting to review possible fallout from Japan's expanded export restrict
Aug. 2, 2019
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Seoul stocks open lower on trade tensions
Seoul stocks opened sharply lower Friday as Japan is set to remove South Korea from its list of trusted trading partners later in the day and a trade row between the United States and China is escalating.The benchmark Korea Composite Stock Price Index crashed 23.10 points, or 1.15 percent, to reach 1,994.24 in the first 15 minutes of trading.It marked the first time in seven months that the index was below the 2,000-mark during a trading session. Tokyo, which began implementing tougher restricti
Aug. 2, 2019
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Kospi to plunge below 2,000 on prolonged Korea-Japan trade spat
South Korea’s benchmark Kospi is projected to dip below the psychologically important 2,000 mark, if escalating trade tensions with Japan are prolonged, a report released by a local brokerage firm said Tuesday.Amid a lackluster stock market performance, Tokyo is expected to implement the decision to exclude South Korea from its whitelist of trusted export nations on Friday, which would bar Korea from receiving preferential treatment via simplified export procedures. “The local s
July 30, 2019