Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[Music in drama] An ode to childhood trauma
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Korea’s mortgage-backed lending rate hits three-year high, raising household debt burden
South Korea’s mortgage-backed lending rates have hit a three-year high, affected by the central bank’s latest key interest rate hike. As local banks mark up their loans accordingly, the country’s household debt burden is expected to face new pressures.The Korea Federation of Banks said Tuesday that the Cost of Funds Index -- a benchmark lending rate for mortgage loans also known as Cofix -- for new loans was set at 2.04 percent for December, up 0.08 percenta
Jan. 15, 2019
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KB Kookmin Bank management-labor union conflict deepens
Conflict over salaries between the management and labor union of KB Kookmin Bank, South Korea’s biggest commercial bank by profits, is being prolonged, raising concerns that labor-management disputes could dampen the company’s growth momentum and operations. After the bank’s labor union staged a nationwide strike last week -- the first in 19 years -- the management and the union appeared to have made some headway in negotiations by striking an agreement on the conditions for ea
Jan. 15, 2019
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Yooshin stocks rise on possible role in inter-Korean railway project
Shares of a South Korean engineering firm skyrocketed on Tuesday on recent reports that it could handle engineering design for projects to reconnect and modernize inter-Korean railways.Shares of Yooshin Engineering, which specializes in railway design and construction, soared 29.92 percent from the previous trading in the morning, hitting a 52-week high. It was being traded at 25,400 won ($22.67) per share on the country’s tech-heavy Kosdaq bourse as of midday. Among several engineeri
Jan. 15, 2019
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Korea vows efforts to adopt global rules on bank capital in 2022
South Korea's financial watchdog said Tuesday it will step up efforts to help local banks adopt new global rules on bank capital standards in 2022. Global financial regulators agreed on the new banking regulations, known as Basel III, in 2017 but finally endorsed a revision of some rules earlier this week at a meeting of the Basel's oversight body attended by governors and heads of supervisory bodies, the Financial Supervisory Service said. Basel said the revision will "result in a weighted
Jan. 15, 2019
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Samsung Securities installs desk on dollar-denominated bonds
Samsung Securities has set up a special desk devoted to dollar-denominated bonds, reflecting South Korea’s growing interest in dollar assets over the US Federal Reserve’s continuing rate hike, the firm said Monday. It aims to provide better guidance to its customers by providing relevant information on the price and currency, the company said. It added that it will help investors to determine the “right timing” to purchase bonds at the market price. The brokerage ho
Jan. 14, 2019
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Nonbank lending raises volatility in real estate market: Think tank
Amid a low interest rate trend and real estate market boom, an increasing number of property purchasers here have turned to nonbank lending over recent years to dodge regulations, increasing volatility in the market, according to the latest report by the Korea Institute of Finance.“About 80 trillion won ($71.3 billion) of the domestic shadow banking market is highly subject to volatility, likely to face insolvency depending on the real estate market situation,” Shin Yong-sang, senior
Jan. 14, 2019
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Fine dust pollution boost home appliance, personal cares stocks
Public concerns over heavy fine dust concentration in recent days have lifted stock prices of local personal care product manufacturers and home appliance makers Monday. Personal care products company Monalisa, which manufactures and distributes face masks for fine dust, jumped 11.39 percent from the previous trading day. It was traded at an opening price of 4,060 won ($3.61) per share.Firms listed on the tech-heavy Kosdaq such as Welcron and Okong, also manufacturers of protective masks al
Jan. 14, 2019
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New Woori Financial Holdings to expand nonbanking segment with M&As
Woori Bank, South Korea’s third-largest commercial lender, officially adopted a financial holding company structure on Monday, pledging to actively pursue strategic mergers and acquisitions to expand its nonbanking business under its new status. “Woori has held a strong banking business, but its nonbanking segment has remained weak until now,” said Sohn Tae-seung, chairman of Woori Financial Holdings and Woori Bank, during a press conference at Woori Bank’s headquarters i
Jan. 14, 2019
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[Stock Preview] Prolonged US government shutdown, Brexit loom over Kospi
Trading of South Korean shares is projected to take place within a narrow range this week amid growing concerns about a prolonged US government shutdown and the impending Brexit vote in the UK, which are dampening investor sentiment. The two political risks, combined with lackluster fourth-quarter earnings projected for US and Korean firms, will likely push the main Kospi bourse into a “boxpi” situation, according to analysts. “Boxpi,” a combination of the words “Ko
Jan. 13, 2019
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‘Baby Shark’-related stocks soar on Billboard debut
After the recent Billboard debut of megahit South Korean version of children’s song “Baby Shark,” shares rose Thursday in anticipation of further success in related merchandise. Share prices of Samsung Publishing, the second-largest shareholder of SmartStudy, the local education startup behind the “Baby Shark” phenomenon, rose by more than 20 percent from the previous trading day. Shares of the publishing company, which holds 25.03 percent of SmartStudy, closed at 1
Jan. 10, 2019
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Despite slowing growth, global recession unlikely in 2019: AB Asset Management
Despite the widespread anxiety due to slowing growth momentum, the global economy is unlikely to face a recession this year, and high yield opportunities continue to exist in the US equity market and emerging markets, according to a US-based asset management company on Wednesday. “Growth momentum is certainly slowing down but when it comes to the question (of) whether such slowdown means a possible recession, our answer is no,” said David Wong, a senior investment strategist at Allia
Jan. 10, 2019
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Riding on Netflix bandwagon, drama production firms to shine this year
Drama production firms and content providers are projected to stand out among stocks this year, security firms said, citing the hefty number of shows to be produced in 2019, coupled with Korean companies’ growing partnership with dominant streaming service Netflix.“It would be recommendable to invest in firms that hold a ‘captive’ or their own broadcasting platform, and have already inked a distribution deal with Netflix,” Kim Hyun-yong, an analyst at eBest Investme
Jan. 9, 2019
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Financial authorities reverse decision to delist Kyung Nam Pharm
South Korea’s Kosdaq Market Committee on Tuesday scrapped Korea Exchange’s plan to delist local pharmaceuticals company Kyung Nam Pharm from the second-tier Kosdaq market, instead giving the company a one-year grace period to improve transparency. A panel led by the Korea Exchange, the nation’s sole market operator, last week suggested Kyung Nam Pharm be pulled from the Kosdaq market over accounting errors that occurred between financial years 2008 and 2013.Due to the erro
Jan. 8, 2019
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Korea's current account hits seven-month low in Nov.
South Korea's current account surplus narrowed to a seven-month low in November from a year earlier due to a decrease in the goods account, central bank data showed Tuesday.The country's current account surplus came to $5.06 billion in November, down from $7.43 billion a year earlier, according to the preliminary data from the Bank of Korea. The tally marks the 81st consecutive month of the balance being in the baclk, but it represents the smallest surplus since April when it hit a six-year low
Jan. 8, 2019
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[News Focus] KB Kookmin Bank’s fate this year to depend on strike scenario
Tension prevailed at KB Kookmin Bank on Monday in the face of an imminent general strike that may dampen the company’s growth momentum and possibly menace its recently recovered position as the nation’s leading commercial bank.The bank’s labor union set out to stage a nationwide strike on Tuesday, as last-minute negotiations fell through on Monday afternoon amid prolonged conflict over the wage system. The walkout -- the first one in 19 years -- is expected to cripple operation
Jan. 7, 2019
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2019 to witness rebound in IPO market
South Korea’s initial public offering market is expected to rebound this year on the back of large companies’ plans to debut shares, after its size sank to a five-year low in 2018, industry watchers said Monday.Among those expected to issue IPOs this year are major firms in their respective fields, Hyundai Oilbank and Kyobo Life Insurance, both of which are likely to make big waves in the market. With the two, the market is forecast to gain up to about 4 trillion won ($3.6 bill
Jan. 7, 2019
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Finance minister holds meeting over ex-govt. official's whistleblowing claim
South Korea's finance minister held a meeting with senior officials Sunday to discuss pending issues, including a former ministry official who claimed to be a public-interest whistleblower.The country's finance ministry has filed a complaint against Shin Jae-min, a former official who claimed that the presidential office Cheong Wa Dae abused its power over the country's leading tobacco maker and the finance ministry.At a weekly meeting, Minister Hong Nam-ki and ministry officials discussed the r
Jan. 6, 2019
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Seoul shares likely to show volatility next week
South Korean stocks are expected to show high volatility next week as pessimism over a global slowdown will dominate investors' sentiment here, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,010.25 points on Friday, down 30.79 points, or 1.5 percent, from a week earlier. On Wednesday, the first day of trading of 2019, the stock market experienced a more than 30-point plunge as China-originated growth concerns swept the world.Next day, KOSPI surrendered th
Jan. 5, 2019
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Kospi closes below 2,000 at 25-month low
South Korea’s top-tier stock market Kospi closed below the 2,000 mark on Thursday, marking a two-year low, pulled down by foreign investors’ stock dumping and heightened fears of an economic slowdown, illustrated by Apple’s pessimistic revenue outlook. The main bourse index closed at 1,993.7, down 16.3 points, or 0.81 percent, from the previous session’s close. It had fluctuated above and below the 2,000 mark throughout the day, after its first dip under at 9:59 a.m. 
Jan. 3, 2019
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With new momentum, Korea’s top 5 banks to compete for increased profitability in 2019
South Korea’s top five banks have set out to compete for increased profitability in 2019 as they gain new momentum with group-wide reforms, executive reshuffles, structural realignment as well as strategic mergers and acquisitions. KB Financial Group, which has been Korea’s most profitable bank since 2017, will concentrate on defending its leading status in the industry by continuing to post stable profits and boosting its share value.This was evident in KB Financial Group Chairman Y
Jan. 3, 2019