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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KT launches new mobile plans for foreign residents
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Banking chiefs say digital transformation key to survival
Heads of South Korea’s top five traditional banking groups on Monday pointed to swift digital transformation and bolstering competitiveness of diverse business units as the main requirements for their survival in the new year. KB Financial Group, the nation’s No. 1 banking group in terms of total assets, must become the nation’s top financial platform and provide customers with the best digital services, its Chairman Yoon Jong-kyoo said in his New Year’s speech. Yoon h
Jan. 3, 2022
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Seoul shares kick off 2022 with investor optimism
The key benchmark Kospi and junior Kosdaq opened higher on Monday after their last trading session on Thursday, amid strong retail demand and foreign buying betting on a pandemic recovery. The Kospi, which ended at 2,977.65 for its final trading session in 2021, closed at 2,988.77, while the Kosdaq ended at 1,037.83, slightly up from 1,033.98 from the previous session. The rebound was backed by retail investors and foreigners, who snatched up a net 519 billion won ($435 million) and 266 billi
Jan. 3, 2022
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Seoul shares expected to rebound next week on optimism for 2022
South Korean stocks are expected to gather ground next week as an optimistic mood from solid US consumer spending during the end-of-the-year holiday season and other factors will likely whet investor appetite for risky assets. The Korea Composite Stock Price Index closed at 2,977.65 on Thursday, the last trading day for this year, down 0.68 percent from last Friday. The stocks moved in a tight range amid a lack of fresh leads as investors took to the sidelines on the final
Jan. 1, 2022
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Seoul stocks end lower in final trading session of 2021
The South Korean stock market finished the final session of the year with lackluster trading Thursday as investors took to the sidelines amid a lack of market-moving events. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.64 points, or 0.52 percent, to finish at 2,977.65. Trading volume was a bit slim at about 454.04 million shares worth 8.59 trillion won ($7.23 billion), with decliners outnumbering gainers 485 to 377. T
Dec. 30, 2021
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Kospi wraps up best year on strong earnings, retail demand
Upbeat corporate earnings and robust retail demand set the key benchmark Kospi and junior Kosdaq on track for their best year since trading began on the exchange decades ago. The stock market, which will open Monday after a three-day break, saw the Kospi hitting a record high of 3,305 on July 6, while the Kosdaq soared to trading around 1,000, a first in 20 years. The Kospi closed at 2977.65 on its final trading session in 2021, while the Kosdaq ended at 1033.98. Kospi-listed companies r
Dec. 30, 2021
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Seoul shares open higher on bargain hunting
South Korean shares opened a tad higher Thursday as investors snapped up tech blue-chip bargains following a drop in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.31 points, or 0.14 percent, to 2,997.60 in the first 15 minutes of trading. Tech and bio shares led the overall gains. Market bellwether Samsung Electronics rose 0.63 percent, and No. 2 chipmaker SK hynix spiked 3.15 percent. But auto, steel and chemicals were in negative terrain to keep the r
Dec. 30, 2021
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Seoul shares end lower on ex-dividend date, profit-taking
Seoul shares closed lower Wednesday on ex-dividend date and profit-taking amid lingering concerns over the economic implications of the omicron strain. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 26.95 points, or 0.89 percent, to 2,993.29 points. Trading volume was moderate at about 536.6 million shares worth some 10.8 trillion won (about $9 billion), with decliners outnumbering gainers 439 to 438. Institutions and foreigners sol
Dec. 29, 2021
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Seoul shares open lower on ex-dividend date
South Korean shares opened lower Wednesday as institutional and foreign investors dumped shares on the ex-dividend date. The benchmark Korea Composite Stock Price Index (Kospi) fell 17.81 points, or 0.59 percent, to 3,002.43 in the first 15 minutes of trading. Overnight, Wall Street showed mixed results amid persistent concerns over the COVID-19 pandemic. The Dow Jones Industrial Average rose 0.26 percent to 36,398.21, but the tech-focused Nasdaq composite index fell 0.56 percent to 15,781.72
Dec. 29, 2021
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[Best Brand] Samsung C&T wins undersea power network order in UAE
Samsung C&T said it has signed a deal to build an undersea high-voltage direct current network that connects the United Arab Emirates’ offshore oil production facilities and Abu Dhabi’s land power network. Samsung C&T said it would form a consortium with Belgian construction company Jan De Nul for the engineering, procurement and construction project worth 3.5 trillion won ($3 billion). Samsung C&T’s portion of the project amounts to 2.7 trillion won. This brin
Dec. 28, 2021
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Experts on market 2022: Stocks to rebound, home price rise to slow
South Korean shares could recede early next year but will gradually pick up speed in robust rebound on upbeat corporate earnings and consumer sentiment, while the home price rise will slow but with room for a moderate hike, market experts here said. The benchmark Kospi -- which hit a record high on July 6 this year at 3,305 amid ample liquidity and pandemic recovery hopes -- could reach as high as 3,480 next year, though it could also dive down as low as 2,710, according to analysts citi
Dec. 28, 2021
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Seoul shares end higher on foreign, institutional buying
Seoul shares closed higher on Tuesday as foreign and institutional investors scooped up market heavyweights following overnight US gains. The local currency fell against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index (Kospi) went up 20.69 points, or 0.69 percent, to 3,020.24 points. Trading volume was moderate at about 593 million shares worth some 11.9 trillion won ($10.1 billion), with gainers outnumbering losers 524 to 333. Individuals sold a net 1.9
Dec. 28, 2021
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[Best Brand] Lotte Card offers best payback deals for millennials, Gen Z
Lotte Card recently launched a new credit card series that aims to offer best deals for shopping, dining out and more for millennials and Gen Z customers. The four cards under its so-called Loca Likit series – Loca Likit 1.2, Loca Likit Eat, Loca Likit Play and Loka Likit Shop – offers its users different discounts and cost-effective options for the shops they want. Loca Likit 1.2 pays 1.2 percent cash back on dining, cafe and food delivery apps and 1.5 percent back discount on o
Dec. 28, 2021
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Seoul shares open lower despite US gains
South Korean shares opened lower Tuesday, bucking the overnight advance on Wall Street amid concerns over the spread of the omicron variant. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.20 points, or 0.17 percent, to 2,994.35 points in the first 15 minutes of trading. US shares advanced on optimism that the global economy can ride out the COVID-19 pandemic and tightening monetary policy. Overnight, the Dow Jones Industrial Average rose 0.98 percent to 36,302.38 and the tech
Dec. 28, 2021
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Online-only banks not accessible for non-Koreans
For Hiram Piskitel, a 49-year-old American IT project manager at an international company in Seoul, the launch of South Korea’s third internet-only lender Toss Bank in October signaled a change in his personal finance routine. The online bank, operated by Viva Republica, had vowed to offer non-face-to-face banking services to foreign residents. If realized, it would be the first accessible online bank for the roughly 2 million non-Koreans residing in Korea. Hiram’s hopes, h
Dec. 27, 2021
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Seoul shares end lower amid omicron woes
Seoul shares closed lower Monday on profit taking amid lingering concerns over the spread of the omicron variant. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.88 points, or 0.43 percent, to 2,999.55 points. Trading volume was moderate at about 462.9 million shares worth some 8.13 trillion won ($6.8 billion), with gainers outnumbering losers 446 to 405. Individuals sold a net 523 billion won worth of stocks, exceeding instituti
Dec. 27, 2021
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Seoul shares open lower on profit taking
Seoul shares opened lower Monday on profit taking amid lingering concerns over the impact of the omicron variant. The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.62 points, or 0.12 percent, to 3,008.81 points in the first 15 minutes of trading. Individuals and foreigners' stock selling worth a combined 48 billion won ($40 million) exceeded institutions' stock purchases valued at 43 billion won. Tech and airline stocks were lead decliners. Market bellwether Samsun
Dec. 27, 2021
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More women promoted, but hurdles remain in S. Korea's finance
The public and private financial sectors have recently appointed more women for leadership amid their drive to adopt environmental, social and governance values, but the field remains overwhelmingly male. The watchdog Financial Supervisory Service on Wednesday appointed its first “inside” female executive, a turn from its previous moves to hire women for the position from outside institutions including universities. This marked the first of such move in the FSS’ 22-year histo
Dec. 26, 2021
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BOK signals rate hike as inflation fight drags on
The Bank of Korea said Friday that it would adjust its monetary policy next year in an announcement seen as preparing for a rate hike to dampen inflation. The BOK, which raised the rate to 1 percent after two rate hikes in August and November this year to prop up the pandemic-hit economy, is expected to lift the rate in January when the bank’s seven-member board meets. BOK Gov. Lee Ju-yeol said he would not rule out a hike in the first quarter. “The financial imbalances -- manifes
Dec. 24, 2021
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Seoul stocks up for 4th session amid eased omicron concerns
The South Korean stock market continued its winning streak to a fourth session Friday amid eased concerns over the impact of the omicron variant on the global economy. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 14.26 points, or 0.48 percent, to 3,012.43 points. Trading volume was moderate at about 530 million shares worth some 8.4 trillion won ($7.7 billion), with gainers outnumbering losers 602 to 228. Foreigners bough
Dec. 24, 2021
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Seoul shares open higher on US gains
Seoul shares opened higher Friday, tracking overnight gains on Wall Street amid eased concerns over global economic growth next year despite the outbreak of omicron virus strain. The benchmark Korea Composite Stock Price Index (Kospi) rose 26.46 points, or 0.88 percent, to 3,024.63 points in the first 15 minutes of trading. Investor sentiment was buoyed as the omicron variant is highly infectious but less likely to lead to hospitalization. Most stocks advanced across the board. Market bellwe
Dec. 24, 2021