South Korea’s benchmark Kospi closed at 2,533.99 on Friday, making a dramatic growth from 280 on June 16, 1998. For nearly two decades, the Korean stock market fluctuated with major political and economic events. The 1997-98 Asian Financial Crisis hit the nation‘s economy hard, dragging the Kospi to 280 points. The stock market again took subsequent hits when the dot com bubble bust in the earl...

The cost to purchase a home in South Korea’s capital of Seoul surpasses that of Tokyo and is quickly catching up to New York, according to a report by the National Assembly Research Service on Sunday. The report showed that the price of a Seoul home cost an average of 100 million won ($91,500) more than that of a house in Japan’s capital. The median price for a Seoul home stood at 434.85 millio...

South Korea's secondary bourse has posted sharp growth on hope for government policies rather than listed firms' financial health, raising concerns about a possible bubble, analysts said Saturday. On Friday, the KOSDAQ market closed 0.56 percent higher at 775.85, mainly led by pharmaceutical companies. The figure marks a whopping 22.7 percent growth from the 632.04 posted in the first session of...

Seoul shares are expected to move in a tight range next week as investors remain guarded amid the rising odds of Federal Reserve's interest rate hike and uncertainties over the U.S. tax reform plan, analysts said Saturday. The benchmark Korea composite Stock Price Index (KOSPI) closed at 2,533.99 points on Friday, down 0.35 percent from a week ago. The index retreated four sessions on uncertain...

Donning white coats in a lab-like atmosphere, officials at the counterfeit countermeasures center at Seoul‘s KEB Hana Bank headquarters are armed with state-of-the-art digital forensics technology that are able to detect even the most precise, fine-grained currency replications. The number of foreign currency counterfeiters is rapidly increasing as more foreign tourists travel to Korea. Photogr...

Woori Bank, South Korea's No. 3 retail lender, said Friday it will announce candidates for the bank's new chief executive job next week, without publicly taking applications for the post. The decision to skip receiving applications, which was made at the bank's chief executive nomination committee earlier in the day, is aimed at swiftly appointing a new chief executive, sources said. Next week,...

South Korean stocks closed slightly lower Friday as institutions and retail investors dumped local stocks offsetting a buying spree by foreign traders. The South Korean won extended its rally against the US dollar. The benchmark Korea Composite Stock Price Index slipped 0.8 point, or 0.03 percent, to close at 2,533.99. Trade volume was moderate as 355.21 million shares worth 6.46 trillion won ($...

South Korea's top conglomerate Samsung and two other major business groups took the lion's share of listed firms' earnings this year as their subsidiaries posted stellar performances, data showed Thursday. According to the data from the Korea Exchange, 29 listed companies belonging to Samsung, LG and SK groups registered a combined net profit of 56.2 trillion won ($50.7 billion) in the first nin...

South Korea and Canada clinched a standing bilateral currency swap deal that will help expand financial exchanges between the two countries, Seoul's central bank said Thursday. Bank of Korea Governor Lee Ju-yeol and his Canadian counterpart Stephen S. Poloz signed the agreement at a ceremony at the Bank of Canada's head office in Ottawa, on Wednesday, according to the BOK. The liquidity swap ar...

Global ratings agency Moody’s on Wednesday forecast that South Korea’s economic growth and its companies’ credit conditions will remain stable in 2018 on the back of synchronized growth throughout the globe. “For the first time since the global financial crisis, we expect growth in all major areas next year,” Christian de Guzman, vice president and senior credit officer of Moody’s sovereign risk...

South Korean stocks extended a fifth-day losing streak Wednesday as upward momentum faded after enjoying a sharp rally and investors grew cautious over economic uncertainties at home and abroad. The Korean won rose against the greenback. The benchmark Korea Composite Stock Price Index dropped 8.38 points, or 0.33 percent, to close at 2,518.26. Trade volume was moderate as 394.23 million shares w...

South Korean credit card companies saw their third-quarter earnings plunge due mainly to a cut in their fee rates on member stores, data showed Wednesday. The combined net income of eight stand-alone card firms stood at 419.6 billion won ($375 million) in the July-September period, down 20 percent from a year earlier, according to the data by the Financial Supervisory Service and industry source...

South Korean stocks finished lower Tuesday as investors took to the sidelines over weak Chinese economic data and uncertainties over US tax policy. The Korean won strengthened against the greenback. The benchmark Korea Composite Stock Price Index lost 3.71 points, or 0.15 percent, to close at 2,526.64. Trade volume was relatively light, as 283.65 million shares worth 5.67 trillion won ($5.07 bil...

South Korea's main stock market is expected to gain further ground next year on a stronger economy with the key index breaching the 2,900-point level, local brokerages said Tuesday. Driven by brisk foreign buying stemming from resilient corporate earnings, the benchmark Korea Composite Stock Price Index had been renewing all-time highs before going south in recent sessions. The KOSPI hit an all-...

The nation’s financial regulator on Monday gave approval to five brokerage companies on starting investment banking businesses, as part of the government’s economic blueprint to boost the global competitiveness of local financial players. The five securities firms are Mirae Asset Daewoo Securities, NH Investment & Securities, Korea Investment & Securities, KB Securities and Samsung Securities, a...