Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Regulator seeks to lower interest rates for margin trading
South Korea's financial regulator said Thursday it will seek to lower interest rates for margin trading and enable more people to pay their insurance fees with credit cards.The plan is a part of the government's aim to enhance the protection of consumers for financial products as the Financial Supervisory Service launched an advisory body on the rights of financial consumers. Interest rates for margin trading vary considerably. Kiwoom Securities Co.'s rate for 15-day margin lending is 11.75 perc
Sept. 21, 2017
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KB Kookmin Card eyes Myanmar market
KB Kookmin Card Co. said Thursday it is pushing to tap into Myanmar's credit card market after getting the nod to set up an office in the Southeast Asian country.KB Kookmin Card, a unit of South Korea's banking giant KB Financial Group Inc., said it won approval from Myanmar's central bank the previous day to establish a representative office there.The card issuer said it plans to take a step-by-step approach since Myanmar has yet to open its credit card and payment market to foreign companies.&
Sept. 21, 2017
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Seoul shares down late Thursday morning
South Korean shares traded lower late Thursday morning driven by losses in auto and steel shares.The benchmark Korea Composite Stock Price Index shed 5.58 points, or 0.23 percent, to 2,406.62 as of 11:20 a.m.Automakers traded bearish with industry leader Hyundai Motor losing 1.41 percent and its sister affiliate Kia Motors declining 1.28 percent. No. 1 steelmaker POSCO surrendered 2.62 percent and Hyundai Steel was down 1.3 percent.Market kingpin Samsung Electronics, meanwhile, gained 0.38
Sept. 21, 2017
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Financial regulator vows flexible rules to help fintech industry growth
The head of the Financial Supervisory Service said Thursday the regulator seeks to build an innovation-friendly financial environment to help the growth of the financial technology industry. Choe Heung-sik, governor of the FSS, made the remarks during a conference in Seoul to debate how best the financial industry can cope with challenges in uncertain times."Fundamental change is under way in financial platforms as the industry is connected with fintech," Choe said. As more custo
Sept. 21, 2017
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Pharmaceuticals, biotechs soar on US rally
South Korean pharmaceuticals and biotech stocks have gone on a tear this year on the back of a biotech rally on the US NASDAQ market, data showed Thursday.The main stock market's subindex for the pharmaceutical sector had spiked 44 percent as of Wednesday from the start of this year, according to the data from the Korea Exchange and market tracker FnGuide.The figure is more than double the 19 percent increase in the benchmark Korea Composite Stock Price Index over the cited period.On the seconda
Sept. 21, 2017
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Seoul shares open lower after Fed meeting
South Korean stocks opened slightly lower Thursday, as the US Federal Reserve hinted at the chance of a December interest rate hike.The benchmark Korea Composite Stock Price Index shed 1.87 points, or 0.08 percent, to 2,140.33 in the first 15 minutes of trading.After holding a two-day policy meeting, the Fed left interest rates unchanged and said it would begin reducing its bond portfolio starting next month.Most large caps on the Seoul bourse traded mixed, with market kingpin Samsung Electronic
Sept. 21, 2017
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Seoul stocks down ahead of US Fed policy statement
South Korean stocks ended lower Wednesday as investors took a wait-and-see stance before the results of the US Federal Reserve's policy meeting, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index lost 3.85 points, or 0.16 percent, to close at 2,412.2. Trade volume was moderate at 262 million shares worth 5.2 trillion won ($4.6 billion), with losers outnumbering gainers 593 to 216.The local stock market opened a tad higher tracking overnight g
Sept. 20, 2017
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Seoul shares down late Wednesday morning
South Korean stocks traded slightly lower late Wednesday morning as investors took to the sidelines awaiting the results of the US Federal Reserve meeting. The benchmark Korea Composite Stock Price Index shed 1.24 points, or 0.05 percent, to 2,414.81 as of 11:20 a.m.The two-day Federal Open Market Committee meeting is slated to finish Wednesday (local time) probably providing clues on US monetary policy. Most large caps on the Seoul bourse traded mixed, with market kingpin Samsung Electroni
Sept. 20, 2017
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Seoul shares open slightly higher on Wall Street gains
South Korean stocks opened slightly higher Wednesday, following overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 1.9 points, or 0.08 percent, to 2,417.95 in the first 15 minutes of trading.On Tuesday (local time), US stocks closed at fresh record highs, with the S&P 500 inching up 0.11 percent and the Dow gaining 0.18 percent. Most large caps on the Seoul bourse traded mixed, with marking kingpin Samsung Electronics shedding 0.04 percent.SK hynix, a
Sept. 20, 2017
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Samsung BioLogics tops Swiss drug giant Lonza in market cap
South Korean biopharmaceutical maker Samsung BioLogics Co. has overhauled Swiss drug behemoth Lonza in terms of market value though its sales remain dwarfed by the latter's top line, industry sources said Wednesday.The market capitalization of Samsung BioLogics, a unit of South Korea's top conglomerate Samsung Group, came to 22.4 trillion won ($19.8 billion) as of Tuesday, compared with 22.1 trillion won for Lonza.Established in 1897, Lonza is a global pharmaceutical company that engages in both
Sept. 20, 2017
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Seoul stocks end almost flat amid profit-taking
South Korean stocks finished almost flat Tuesday as investors attempted to lock in recent gains, analysts said. The Korean won lost ground against the US dollar.The benchmark Korea Composite Stock Price Index inched down 2.16 points, or 0.09 percent, to close at 2,416.05. Trade volume was slim at 248.4 million shares worth 5.2 trillion won ($4.3 billion), with losers outnumbering gainers 409 to 366.Foreigners and institutions offloaded a net 143.6 billion won and 50.5 billion won worth of local
Sept. 19, 2017
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S. Korea to assure credibility of economy during NY summit
Finance Minister Kim Dong-yeon is scheduled to meet with foreign investors in New York on Wednesday (local time) and intends to reassure the international financial community that the South Korean economy remains solid despite heightened tensions over North Korea’s nuclear and missile programs. Kim has joined President Moon Jae-in on his visit to New York for the annual UN General Assembly this week. Amid continuing provocations by North Korea, including the ballistic missile fired over
Sept. 19, 2017
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Seoul shares down in late morning on tech losses
South Korean stocks traded lower late Tuesday morning as institutions and foreigners offloaded large-cap tech stocks in an apparent move to lock in profits, analysts said.The benchmark Korea Composite Stock Price Index lost 4.09 points, or 0.17 percent, to 2,414.12 as of 11:20 a.m.Most large caps traded mixed, with tech shares in negative terrain.Market kingpin Samsung Electronics lost 0.57 percent, and SK hynix, a major chipmaker, was down 0.5 percent.The local currency was trading at 1,130.5 w
Sept. 19, 2017
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Seoul shares open tad lower despite Wall Street rally
South Korean stocks opened slightly lower Tuesday despite an overnight Wall Street rally as investors sought to lock in recent gains, analysts said.The benchmark Korea Composite Stock Price Index inched down 1.8 points, or 0.07 percent, to 2,416.41 in the first 15 minutes of trading. On Monday (local time), the major US indexes hit record highs as investors were awaiting a Federal Reserve meeting scheduled for later this week. The Dow added 0.28 percent, and the S&P 500 was up 0.15 perc
Sept. 19, 2017
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Seoul stocks hit over 6-week high, Samsung at new record high
South Korean stocks rallied more than 1 percent Monday, finishing at their highest level in more than six weeks, as Samsung Electronics, the country's top market cap, surged on the back of an upbeat earnings forecast. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 32.14 points, or 1.35 percent, to close at 2,418.21, after soaring to as high as 2,418.24 at one point. Trade volume was moderate at 231.8 million shares worth 5.1 trillion won ($4.52 b
Sept. 18, 2017
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Hyundai Life Insurance cuts one-third of staff
Hyundai Life Insurance, an insurance unit of South Korea's Hyundai Motor Group, has recently cut a third of its employees due to mounting debt, an industry source said Monday.The insurance firm has let 120 out of 450 employees go under a voluntary retirement program, according to the source.Cumulative losses at the insurer stood at 220 billion won ($195 million) at the end of June. Still, the financial health of Hyundai Life Insurance has improved, with its risk-based capital ratio standing
Sept. 18, 2017
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Seoul stocks up late Monday morning on Wall Street gains
South Korean stocks traded higher late Monday morning, hitting their highest level in more than a month, as they tracked gains on Wall Street.The benchmark Korea Composite Stock Price Index increased 23.61 points, or 0.99 percent, to 2,409.68 as of 11:20 a.m., after soaring to as high as 2,410.58 at one point. On Friday, US stocks closed at fresh record highs, with the S&P 500 inching up to surpass the 2,500-point mark for the first time. Most large caps improved, with market kingpin Sa
Sept. 18, 2017
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Institutions scoop up techs during market correction
South Korean institutional investors have loaded up on tech stocks during a recent correction period in the local stock market, in contrast to foreigners' massive selling, data showed Monday.Local institutions' top pick was largest-cap Samsung Electronics Co. between July 24 and Friday, with their net buying of the tech giant reaching 1.35 trillion won ($1.19 billion), according to the data from the Korea Exchange. Institutions also purchased a net 551.5 billion won worth of chip giant SK hynix
Sept. 18, 2017
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Stocks open higher on tech gains
South Korean stocks opened higher Monday, as investors scooped up large-cap tech shares. The benchmark Korea Composite Stock Price Index rose 9.39 points, or 0.39 percent, to 2,395.46 in the first 15 minutes of trading.Market kingpin Samsung Electronics gained 1.03 percent, and SK hynix was 2.85 percent up.LG Chem, South Korea's top chemicals firm, advanced 0.37 percent, and AmorePacific, the country's No. 1 cosmetics firm, rose 1.4 percent. Hyundai Motor, No. 1 automaker, meanwhile, s
Sept. 18, 2017
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Possible FOMC tightening to ease uncertainties: analysts
The United States Federal Open Market Committee’s decision this week to take another step back from yearslong quantitative easing is likely to ease uncertainties for the financial markets in South Korea, according to multiple analysts. The FOMC’s highly-anticipated decision to shrink the balance sheet, backed by signs of pick-up in US consumer inflation, will “lift some uncertainties out of the market,” wrote Kim Yu-kyum, an analyst at Cape Investment & Securitie
Sept. 17, 2017