Most Popular
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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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Lee Jong-sup resigns as envoy to Australia
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Official campaigning kicks off for April 10 elections
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Seoul shares snap 3-day losing streak amid eased default risks
South Korean stocks advanced Monday to end their three-day losing streak. with construction and tech companies leading the rally, as the government's 50 trillion-won ($35 billion) liquidity support plan eased worries about growing credit crunch risks. The local currency ended nearly flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 23.04 points, or 1.04 percent, to close at 2,236.16. Trading volume was moderate at 434 million shares worth 6.76 trillion won wit
Oct. 24, 2022
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Seoul shares open higher on Fed hopes
South Korean stocks got off to a strong start Monday, as US Federal Reserve officials' remarks raised hopes that the central bank may dial down the pace of interest rate increases. The benchmark Korea Composite Stock Price Index gained 35.60 points, or 1.61 percent, to 2,248.72 in the first 15 minutes of trading. While the market still widely predicts another 0.75 percentage point rate hike by the Fed in December, Mary Daly, president of the San Francisco Federal Reserve Bank, suggested pla
Oct. 24, 2022
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After soaring past W75tr, can ETF market keep growing?
South Korea's exchange-traded funds combined market cap amounted to 75.5 trillion won ($52.6 billion) as of September, some 220 times larger than 344.4 billion won in October 2002, the latest data from the Korea Exchange showed. ETFs -- a type of pooled investment security that tracks a particular index, sector, commodity, or other assets, which can be traded on a stock exchange -- have managed to capture the attention of Korean investors in recent years. Twenty years ago, ETFs first landed in
Oct. 23, 2022
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Seoul shares off to slow start on weak exports
South Korean stocks opened slightly lower Friday as weak export data fanned concerns about an economic slowdown. The benchmark Korea Composite Stock Price Index had slipped 0.85 points, or 0.04 percent, to 2,217.24 points as of 9:15 a.m. South Korea's exports in the first 20 days of October contracted 5.5 percent from the previous year, indicating that monthly outbound shipments could decrease on-year for the first time in two years. Market bellwether Samsung Electronics inched up 0.18 perc
Oct. 21, 2022
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Banks' foreign currency liquidity stable but precaution needed: finance ministry
SEJONG -- Financial policymakers on Thursday said banks' foreign currency liquidity conditions remain stable, but raised concerns that the weak won against the US dollar could undermine the asset soundness of financial firms. The remarks were made at a meeting with senior officials from the Finance Ministry, the Bank of Korea, the Financial Services Commission and the Financial Supervisory Service, which was held at the Korea Center for International Finance in Seoul. At the meeting, First Vic
Oct. 20, 2022
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Seoul shares down for 2nd day on rate hike woes
South Korean stocks retreated for a second straight session Thursday, as investor sentiment worsened on concerns about aggressive rate hikes. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 19.35 points, or 0.86 percent, to close at 2,218.09 points. Trading volume was moderate at about 1.1 billion shares worth some 8.1 trillion won (US$5.7 billion), with gainers outnumbering losers 607 to 273. Institutions offloaded a net 409 billion wo
Oct. 20, 2022
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Seoul shares open lower on rate hike woes
South Korean stocks opened lower Thursday, taking a cue from overnight losses on Wall Street that stemmed from concerns about aggressive rate hikes. The benchmark Korea Composite Stock Price Index (KOSPI) had slipped 9.74 points, or 0.44 percent, to 2,227.7 points as of 9:16 a.m. Stocks got off to a weak start as investors expected further hikes in the policy interest rates at home and in major economies. Overnight, the Dow Jones Industrial Average lost 0.33 percent and the tech-heavy Nasdaq Com
Oct. 20, 2022
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[KH Biz Forum] SoftBank-backed Qraft highlights AI's role in stock investing
SoftBank-backed South Korean financial technology startup Qraft Technologies highlighted the role of artificial intelligence in equity asset allocation, as AI plays a complementary role to boost productivity and efficiency of human's tasks. An AI engine can pursue above-average returns with the capability to analyze massive amounts of financial data and discover relationships that humans hardly find, according to Qraft Technologies Chief Product Officer Alan Jo at The Korea Herald Biz Forum
Oct. 19, 2022
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Seoul shares open nearly flat amid earnings season
South Korean stocks opened nearly flat Wednesday as investors took to the sidelines amid earnings reports and woes over aggressive rate hikes. The benchmark Korea Composite Stock Price Index (KOSPI) had inched up 0.49 points, or 0.02 percent, to 2,250.44 points as of 9:20 a.m. Auto and steel companies advanced, while chemical and financial shares declined. Market bellwether Samsung Electronics traded flat, and chip giant SK hynix lost 1.67 percent. Top automaker Hyundai Motor added 0.3 percent,
Oct. 19, 2022
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Seoul shares up 1.36% ahead of corporate earnings
South Korean stocks ended sharply higher on Tuesday as institutions and foreigners picked up issues ahead of corporate earnings of major companies this week. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.24 points, or 1.36 percent, to close at 2,249.95 points. Trading volume was moderate at about 572.65 million shares worth some 7.13 trillion won ($5 billion), with gainers outnumbering losers 800 to 88. Overnight, the Dow Jones Industr
Oct. 18, 2022
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Seoul shares open higher on US gains
South Korean shares opened higher Tuesday, tracking rallies on Wall Street that jumped ahead of corporate earnings announcements by major firms this week. The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.84 points, or 1.16 percent, to 2,245.55 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 1.86 percent and the tech-heavy Nasdaq Composite jumped 3.43 percent as investors geared up for third-quarter corporate earnings of such big-name firms as N
Oct. 18, 2022
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Seoul shares advance for 2nd day on dip-buying
South Korea's stock market advanced for a second consecutive session on Monday as investors went on the hunt for undervalued stocks. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) added 7.16 points, or 0.32 percent, to close at 2,219.71 points. Trading volume was moderate at about 487 million shares worth some 6.4 trillion won ($4.5 billion), with gainers outnumbering losers 538 to 322. Foreigners bought a net 264 bil
Oct. 17, 2022
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Seoul shares open sharply lower after US stock plunge
South Korean stocks opened steeply lower Monday as the recent plunge on Wall Street spooked local investors. The benchmark Korea Composite Stock Price Index (KOSPI) had dropped 29.1 points, or 1.32 percent, to 2,183.45 as of 9:17 a.m. On Friday, the Nasdaq Composite tumbled 3.08 percent and the Dow Jones Industrial Average fell 1.34 percent amid woes over higher inflation. The S&P 500 retreated 2.37 percent. In Seoul, market bellwether Samsung Electronics shed 0.53 percent, and chip giant SK
Oct. 17, 2022
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[Breaking] Fire at Kakao data center causes servers to go down
A fire Saturday at a Kakao data center in Pangyo, south of Seoul, has led to a server outage affecting the KakaoTalk messenger app, along with other apps such as Kakao T, Kakao Map, Kakao Metro, Kakao Webtoon, Kakao Bank, Kakao-owned portal Daum and music streaming service Melon. The internet connection for the apps has been unavailable since 3:30 p.m. "There has been a fire at SK C&C data center since 3:30 p.m. Work has begun to put down the fire, but we are uncertain when the fir
Oct. 15, 2022
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Seoul shares soar 2.3% on Wall Street rally
South Korean stocks rebounded sharply Friday, as investors shook off hotter-than-expected US inflation data and bet price increases would soon peak. The local currency gained ground against the greenback. The benchmark Korea Composite Stock Price Index (KOSPI) added 49.68 points, or 2.3 percent, to end at 2,212.55. The index lost 20.29 points, or 0.9 percent, from last week's closing of 2,232.84. Trading volume was moderate at 501 million shares worth 7.01 trillion won ($4.89 billion), with
Oct. 14, 2022
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Seoul shares open higher on overnight Wall Street gains
South Korean stocks opened higher Friday, tracking an overnight surge on Wall Street as investors shook off hotter-than-expected inflation data and bet price increases would soon peak. The benchmark Korea Composite Stock Price Index (KOSPI) added 34.03 points, or 1.57 percent, to 2,196.90 in the first 15 minutes of trading. Overnight, Wall Street made a remarkable turnaround to close higher, after plunging significantly earlier in the session, as investors shrugged off persistently higher-than-e
Oct. 14, 2022
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Samsung Electronics top stock held by Yoon officials
Samsung Electronics stocks were the most popular among senior officials serving as vice ministers or in higher positions for the Yoon Suk-yeol administration, according to a local data firm report released Thursday. According to Leaders Index, 67 out of 118 officials revealed in their financial disclosures that they were holding shares of either public or private companies, including stocks held by such immediate family members as spouse and children, as of Friday last week. Samsung Electronics,
Oct. 13, 2022
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Seoul shares end lower on recession woes
South Korean stocks finished down Thursday amid persistent concerns that combative monetary tightening policies in major economies could drag the global economy into a recession. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 39.60 points, or 1.8 percent, to end at 2,162.87. Trading volume was moderate at 781 million shares worth 6.96 trillion won ($4.86 billion), with losers far outpacing gainers 842 to 73. Institutions offload
Oct. 13, 2022
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Scandal-ridden SillaJen’s shares surge following trade resumption
Scandal-ridden biotechnology firm SillaJen’s shares surged by nearly 30 percent on Thursday a day after South Korea’s sole bourse operator decided to resume its trading on the secondary index. The firm's shares jumped nearly 30 percent from the previous closing to 10,850 won ($7.58), effectively ending its 29 months of suspension and quickly picking up speed from its opening price of 8,380 won. Though the closing price on the last trading day before its suspension -- May 4, 2020 --
Oct. 13, 2022
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S. Korea's fiscal deficit widens by W15.1tr
SEJONG -- South Korea's fiscal deficit increased 15.1 trillion won ($10.5 billion) in the first eight months of 2022 from a year earlier due to spending on vulnerable groups amid the prolonged pandemic, data showed Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of 85.3 trillion won in the January-August period, larger than a shortfall of 70.2 trillion won a year earlier, according to the Monthly Public Finance report releas
Oct. 13, 2022