Most Popular
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Lime green plates deepen slump in Korea’s luxury car sales
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Yoon's approval rating hits new low: poll
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[AtoZ into Korean mind] Koreans do things quickly. Is it efficiency or lack of patience?
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Calories that stalk the Chuseok table
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North Korea sends top envoy to Russia as it girds for friction with Seoul
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'Keep IU off the grass': Soccer fans oppose K-pop concerts at World Cup Stadium
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Seoul-bound traffic clogged on 4th day of Chuseok holiday
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While webtoons gain momentum overseas, in Korea demand wanes
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3 dead after fishing vessel capsizes near Gunsan
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Kia makes breakthrough in China sales
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[Graphic News] S. Korean cosmetics exports hit record high in H1
Korean cosmetics exports surpassed $4.8 billion in the first half of 2024, setting a new record for beauty product exports within the first six months of a year. The figure is an 18.1 percent increase from the same period last year, according to the Korea Customs Service. This milestone surpasses the previous semiannual record of $4.63 billion set in the first half of 2021. During the first half of this year, cosmetics imports amounted to $850 million (1.2 trillion won), resulting in a trade s
July 30, 2024
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Seoul shares end up for 2nd day ahead of Fed's rate decision
Seoul shares ended higher for a second straight session Monday amid hopes that the US Federal Reserve will hint at a potential rate cut in September. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 33.63 points, or 1.23 percent, to close at 2,765.53. Trading volume was moderate at 449.64 million shares worth 10.78 trillion won ($7.8 billion), with gainers outnumbering losers 634 to 244. Institutions and foreigners bought a combined 522 billion won
July 29, 2024
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Seoul shares open higher on hope for US rate cut
Seoul shares opened higher Monday on hope for the US Federal Reserve's rate cut and earnings releases of major tech firms this week. The benchmark Korea Composite Stock Price Index rose 27.62 points, or 1.01 percent, to 2,759.52 in the first 15 minutes of trading. All eyes are on the US central bank's policy decision and earnings results by Apple Inc., Amazon.com Inc. and Samsung Electronics Co. The Fed is expected to cut rates as early as in September. In Seoul, tech and auto stocks l
July 29, 2024
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Retail investors pay huge chunk of stock transaction tax in 2023
Retail investors paid 4.57 trillion won ($3.29 billion) in stock transaction tax last year, accounting for 75 percent of the total, industry data showed Saturday. The government collected around 6.06 trillion won in stock transaction tax last year, and foreign investors paid nearly 1 trillion won in the tax last year, according to the Korea Securities Depository on Saturday. The data came as the government is seeking to scrap a capital gains tax on financial investments while cutting the tax o
July 27, 2024
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Seoul shares snap 2-day fall on large cap gains
South Korean shares closed sharply higher Friday, ending a two-day losing streak on large cap gains led by financial firms and shipbuilding companies. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 21.25 points, or 0.78 percent, to close at 2,731.90. Trading volume was moderate at 504.7 million shares worth 12.8 trillion won ($9.24 billion), with gainers outnumbering losers 594 to 288. Institutions purchased a net 394 billion won wor
July 26, 2024
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Seoul shares open higher on Wall Street gains
South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 17.01 points, or 0.63 percent, to 2,727.66 in the first 15 minutes of trading. The KOSPI had dropped for two consecutive sessions following reports of poorer-than-expected second-quarter performances by major US tech firms. The Dow Jones Industrial Average advanced 0.2 percent Thursday, ending a two-day losing streak on reports that the US economy grew at a fas
July 26, 2024
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Korean stocks dip nearly 2% on tech, auto losses
South Korean shares dipped by nearly 2 percent Thursday as tech and auto stocks crashed following an overnight drop on Wall Street. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index lost 48.06 points, or 1.74 percent, to close at 2,710.65. Trading volume was heavy at 433 million shares worth 13.4 trillion won ($9.67 billion) with losers outnumbering gainers 728 to 160. Foreigners remained net sellers for a second straight session, dumping a n
July 25, 2024
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Seoul shares open sharply lower on Wall Street losses
Seoul shares opened sharply lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 35.99 points, or 1.30 percent, to 2,722.72 in the first 15 minutes of trading. The Dow Jones Industrial Average dipped 1.25 percent, while the tech-heavy Nasdaq plunged 3.64 percent Wednesday on worse-than-expected Q2 performances by major tech companies, including Tesla. In Seoul, most large caps were in negative terrain. Market kingpin and tech giant Samsun
July 25, 2024
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Shareholder activism in Korea ‘partial success’: SquareWell
While shareholder activism is yet to take full hold in South Korea with only a handful of initiatives making it past the vote, activist investors seem to have gained traction here in recent years. According to London-based shareholder advisory SquareWell Partners' recent report, Korean firms are increasingly being targeted by activist investors, with the number soaring from nine in 2020 to 71 in 2023. Still, many of the recent activist campaigns have failed to win a majority of shareholder
July 24, 2024
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Seoul shares close lower on tech, auto losses
Seoul shares closed lower Wednesday as most tech stocks and autos finished in negative terrain. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 15.58 points, or 0.56 percent, to close at 2,758.71. Trade volume was moderate at 458.6 million shares worth 10.9 trillion won ($7.87 billion) with losers outnumbering gainer 489 to 368. Foreigners offloaded a net 271.7 billion won worth of local shares, while institutions and retail investors n
July 24, 2024
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Seoul shares open lower on Wall Street losses
South Korean shares opened lower Wednesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) shed 12.28 points, or 0.44 percent, to 2,762.01 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average lost 57.35 points, or 0.14 percent, to close at 40,358.09, with the Nasdaq slipping 10.22 points, or 0.06 percent, to 17,997.35. In Seoul, large caps traded mixed. Market bellwether Samsung Electronics lost 1.67 percent, with No.
July 24, 2024
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[Graphic News] S. Korea’s food exports up 5.2% in H1
South Korea’s exports of food and related goods rose 5.2 percent on-year in the first half of 2024, data showed, led by the popularity of instant noodles and processed rice products. Outbound shipments of the food segment known as “K-Food Plus” reached $6.21 billion, compared with $5.9 billion posted a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. K-Food Plus encompasses a diverse range of food products and related items, from fresh and proce
July 24, 2024
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Seoul shares snap 4-day losing streak, tracking US gains
Seoul shares closed higher Tuesday to snap a four-day losing streak, tracking an overnight rebound in US tech stocks. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 10.78 points, or 0.39 percent, to close at 2,774.29. Trade volume was moderate at 416 million shares worth 11.3 trillion won ($8.15 billion), with losers outnumbering winners 494 to 365. Foreign investors purchased 241.2 billion won worth of local shares, while retail investors an
July 23, 2024
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Hanwha Asset Management unveils new ETF brand Plus
Hanwha Asset Management, the sixth largest player in terms of net assets in the local exchange-traded fund market, introduced its new ETF lineup brand Plus, on Tuesday. The asset manager has changed its ETF brand name from Arirang to Plus. It was the first time for the asset manager to change its brand name since it launched its ETF product here in 2009. “Through Plus, Hanwha Asset Management will focus on supporting new technologies that enrich the future of humanity for a sustainable tom
July 23, 2024
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Seoul shares open higher on Wall Street rebound
Seoul shares started higher Tuesday, led by gains in chipmakers and autos, tracking overnight gains on Wall Street. Following a fourth straight session of decline, the benchmark Korea Composite Stock Price Index added 32.30 points, or 1.17 percent, to 2,795.81 in the first 15 minutes of trading. Overnight, major US indexes gained ground as big-cap tech shares, including Nvidia, ASML, Microsoft and Alphabet, rebounded after their slump last week. In Seoul, market bellwether Samsung Electronics ro
July 23, 2024
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Seoul shares fall over 1 pct as chip stocks slip
Seoul shares fell more than 1 percent Monday, hit by declines in semiconductor stocks. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) tumbled 31.95 points, or 1.14 percent, to close at 2,763.51. Trade volume was slightly moderate at 456.1 million shares worth 10.3 trillion won ($7.42 billion), with losers outnumbering winners 673 to 211. Institutions and foreign investors dumped local shares worth a combined 105.3 billion won, while retail
July 22, 2024
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Seoul shares open lower on battery, energy stock losses
Seoul shares started lower Monday as most blue chips across the board retreated, led by battery and energy-related stock losses. The benchmark Korea Composite Stock Price Index dipped 5.57 points, or 0.2 percent, to 2,789.89 in the first 15 minutes of trading. Leading battery firm LG Energy Solution dropped 2.75 percent following news that it has recently suspended construction of its joint US plant with General Motors amid stagnation in growth of the electric vehicle market. Smaller rival Samsu
July 22, 2024
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Mirae Asset to introduce Asia’s first equal-weight ETF tracking S&P-500
Mirae Asset Global Investments, a leading asset manager here, is to launch an equal-weight exchange-traded fund, suggesting a well-balanced investment strategy to its investors. Mirae Asset’s Tiger US S&P-500 Equal Weight ETF is to be listed on the Korea Exchange, the country’s sole bourse operator, Tuesday. As its name suggests, the ETF product equally tracks the stocks of 500 leading companies listed on the S&P-500 index. While most ETF products have their constituent stock
July 19, 2024
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Seoul shares dip for 3rd straight session on Wall Street losses
Seoul shares fell for the third straight session Friday in line with overnight losses on Wall Street. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) tumbled 28.89 points, or 1.02 percent, to close at 2,795.46. Trade volume was slightly moderate at 417.9 million shares worth 9.4 trillion won (US$6.78 billion), with losers outnumbering winners 574 to 302. Institutions and foreign investors dumped local shares worth a combined 781.2 billion
July 19, 2024
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Crypto investor protection law takes effect in Korea
South Korea’s first law specifically designed to protect cryptocurrency investors took effect on Friday, bringing the virtual asset industry within legal boundaries. The Virtual Asset User Protection Act aims to prevent unfair trading practices in the volatile crypto market, in response to how it was shaken by such incidents as the Terra-Luna crash and bankruptcy of crypto exchange FTX. The new law defines virtual assets as electronic tokens with economic value that can be traded or transf
July 19, 2024