Most Popular
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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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[KH Explains] No more 'Michael' at Kakao Games
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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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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Seoul stocks open lower on US tech plunge
South Korean stocks opened lower Wednesday, tracking an overnight plunge on Wall Street amid heightened expectations of a rate hike by the Federal Reserve. The benchmark Korea Composite Stock Price Index (KOSPI) declined 19.22 points, or 0.67 percent, to 2,845.02 points in the first 15 minutes of trading. On Tuesday (local time), the Dow Jones industrial average fell 1.51 percent, the S&P 500 went down 1.84 percent and the Nasdaq, which is heavily weighted with technology stocks, de
Jan. 19, 2022
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State pension fund cuts exposure to domestic shares in 2021
South Korea's state pension fund lowered its exposure to large cap and other domestic shares in 2021 in an apparent bid to boost returns and diversify its portfolio, a corporate tracker said Wednesday. The National Pension Service (NPS) held stakes of 5 percent or more in 265 companies listed on the country's major and secondary bourses as of end-2021, down 10 from a year earlier, according to CEO Score. Compared with two years earlier, the number was down as many as 49. Last year, the state
Jan. 19, 2022
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Korea Exchange decides to delist SillaJen
The Korea Exchange on Tuesday announced its decision to delist biotech company SillaJen, 20 months after the biotech company’s market transactions were stopped due to breach of trust and embezzlement charges. The stock market operator will hold a Kosdaq market committee within the next 20 business days to finalize whether it will push ahead with the delisting decision or give SillaJen a second chance at revival. Although the company can raise an objection to the market committee if it o
Jan. 18, 2022
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Seoul stocks open slightly lower amid inflation uncertainties
South Korean stocks opened a tad lower Tuesday, weighed down by persistent inflation woes at home and in the United States. The benchmark Korea Composite Stock Price Index (Kospi) edged up 1.08 points, or 0.04 percent, to 2,973.56 points in the first 15 minutes of trading. Stocks came off to a lackluster start after the key stock index retreated for the previous three straight sessions amid jitters over the US Federal Reserve's faster-than-anticipated tapering and rate hikes to tame inflation.
Jan. 18, 2022
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Seoul stocks hit 7-week low on inflation risk
South Korean stocks dropped to their lowest in almost seven weeks on Monday as investors dumped holdings on concerns about mounting inflationary pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 31.82 points, or 1.09 percent, to close at 2,890.1 points. The reading marked the lowest closing since Nov. 30. Trading volume was moderate at about 571 million shares worth some 9.8 trillion won ($8.2 billion), with losers outnumbering g
Jan. 17, 2022
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Banks turn to richest clients for 2022
With government restrictions on loans getting tighter and financial technology firms expanding their presence, South Korean banks are turning to their wealthiest clients and their asset management as a survival tactic this year. NongHyup Bank CEO Kwon Joon-hak pledged Monday to adopt a new model that connects customers with wealth managers through its own digital channel. He said he plans to provide professional and quality services to customers using its digital wealth management channel, in
Jan. 17, 2022
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Retail subscriptions open for LG Energy Solution IPO
LG Energy Solution is offering retail investors the opportunity to submit bids for its shares ahead of what could potentially be South Korea’s biggest-ever initial public offering next week, having already attracted vastly oversubscribed institutional bids to the tune of some 15,000 trillion won ($12.6 trillion). The world’s second-largest battery maker for electric vehicles is offering a little over 10 million shares -- nearly a quarter of the 42.5 million shares in total -- to ret
Jan. 17, 2022
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Seoul stocks open lower on auto, financial losses
South Korean stocks opened lower Monday, weighed by losses of auto and financial heavyweights. The benchmark Korea Composite Stock Price Index (KOSPI) declined 13.39 points, or 0.46 percent, to 2,908.53 points in the first 15 minutes of trading. The key stock index got off to a weak start, following a two-day losing streak amid concerns about the rising inflationary pressure at home and in the United States. In Seoul, leading carmaker Hyundai Motor lost 1.67 percent, with its smaller affili
Jan. 17, 2022
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LG Energy Solution IPO may be behind stock market retreat
The benchmark Kospi and junior Kosdaq have retreated for the past month as investors offloaded a combined 9.4 trillion won ($7.8 billion) in shares in what many see as stepping up preparations for a battery maker listing, which is expected to set a record later this month. LG Energy Solution, the world’s second-largest battery maker after China’s CATL, is expected to raise 12.7 trillion won in its initial public offering set for Jan. 27, with shares priced 300,000 won each, at the t
Jan. 16, 2022
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LG Energy Solution to raise W12.75tr in nation’s largest-ever IPO
LG Energy Solution said Friday that heated institutional demand has set its initial public offering price at the top end of its target range at 300,000 won ($252.80). In a regulatory filing, the firm said as many as 1,988 institutions have subscribed to its offering of 41.5 million initial issues. The shares were oversubscribed by more than 2,023 times, with all of the investors proposing to buy at the highest price range. “LG Energy Solution attracted 15.2 quadrillion won in demand
Jan. 14, 2022
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Seoul stocks dip for 2nd day on rate hike concerns
South Korean stocks extended their losing streak to a second session Friday amid concerns about fast rate hikes at home and in the United States. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) declined 40.17 points, or 1.36 percent, to close at 2,921.92 points. Trading volume was moderate at about 523 million shares worth some 10.6 trillion won ($8.9 billion), with losers outnumbering gainers 663 to 209. Institutions sold a net 600 billion w
Jan. 14, 2022
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Seoul stocks open lower on US tech fall
South Korean stocks opened steeply lower Friday, tracking an overnight stock plunge on Wall Street as US Federal Reserve officials signaled aggressive policies to rein in the rising inflation pressure. The benchmark Korea Composite Stock Price Index (Kospi) declined 26.43 points, or 0.89 percent, to 2,935.66 points in the first 15 minutes of trading. The retreat was led by losses in tech stocks, usually more sensitive to rate hikes compared with other sectors. The tech-heavy Nasdaq composite
Jan. 14, 2022
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Seoul stocks snap 2-day winning streak on US inflation woes
South Korean stocks retreated after a two-day increase Thursday, as investors worry rising inflation in the United States could hasten the Federal Reserve's tapering move. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.39 points, or 0.35 percent, to close at 2,962.09 points. Trading volume was moderate at about 597 million shares worth some 11.3 trillion won ($9.5 billion), with losers outnumbering gainers 449 to 412. Institutions so
Jan. 13, 2022
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Seoul stocks open nearly flat on US inflation data
South Korean stocks opened nearly flat Thursday as investors digest high-flying inflation data in the United States, a factor that could hasten the Federal Reserve's tapering. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 1.08 points, or 0.04 percent, to 2,973.56 points in the first 15 minutes of trading. Stocks got off to a muted start as the US consumer price index showed a 7 percent increase in December, the highest on-year jump in almost four decades. Overnight, the t
Jan. 13, 2022
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Naver, Kakao share dip shocks young investors
For Lim Ji-soo, a 30-year-old retail investor living in Seoul, Kakao and Naver shares account for 80 percent of her spare money and most of her stock portfolio. “I wish I’d found a more appropriate timing to purchase the stocks – I didn’t know they’d fall like this,” she said Wednesday. Lim is one of the growing number of “young Korean investors” in their 20s and 30s who believe that saving monthly wages is no longer the answer to their personal
Jan. 12, 2022
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Seoul stocks jump 1.5% after Fed chief's inflation comments
South Korean stocks closed sharply higher Wednesday, as the US Fed chief's comments about inflation were largely within market expectations. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) gained 4.51 points, or 1.54 percent, to close at 2,972.48 points. Trading volume was moderate at about 506 million shares worth some 10.8 trillion won ($9.1 billion), with gainers outnumbering losers 730 to 140. Institutions bought a net 607 billion won and
Jan. 12, 2022
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Market cap of top 100 firms gains 10.8% over past year
South Korea's top 100 companies have seen their total market capitalization swell nearly 11 percent over the past one-year period, a corporate tracker said Wednesday. The combined market value of those leading firms came to 2,128 trillion won ($1.78 trillion) as of Jan. 3 this year, up 10.8 percent from a year earlier, according to Korea CXO Institute. The number of listed firms with a market cap of 1 trillion won or more stood at 288, up 54 from a year earlier. Global tech behemoth Samsung E
Jan. 12, 2022
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Money supply up 1.1% in Nov. amid increased savings
South Korea's money supply expanded in November as savings increased due in part to rising interest rates, central bank data showed Wednesday. The country's M2, a key gauge of the money supply, stood at 3,589.1 trillion won ($3.01 trillion) on average in November, up 1.1 percent, or 39.4 trillion won, from a month earlier, according to the preliminary data from the Bank of Korea (BOK). The growth rate was the same as what was reported in October. Compared with a year earlier, the money supply
Jan. 12, 2022
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Seoul stocks open higher after Fed chief's inflation comments
South Korean stocks opened steeply higher Wednesday as the US Fed chief's comments about inflation were largely within market expectations. The benchmark Korea Composite Stock Price Index (Kospi) rose 27.86 points, or 0.95 percent, to 2,955.24 in the first 15 minutes of trading. Stocks got off to a strong start, taking a cue from overnight rallies on Wall Street. Overnight, the tech-heavy Nasdaq Composite added 1.41 percent, and the Dow Jones Industrial Average advanced 0.51 percent. Federal
Jan. 12, 2022
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Big firms' disposal of treasury shares jumps over 3 years
Major listed companies in South Korea have sharply increased their disposal of treasury shares over the past three years due mainly to efforts to boost their stock prices, a corporate tracker said Wednesday. A total of 129 listed firms retired or distributed to executives treasury shares worth 4.51 trillion won ($3.78 billion) last year, slightly up from 4.08 trillion won from 2020, according to CEO Score. The value was more than three times the 1.36 trillion won recorded two years earlier. T
Jan. 12, 2022