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Bitcoin surges to new high
Bitcoin, the world’s biggest cryptocurrency, reached a record high of $110,000 on Thursday, backed by growing industry optimism. Trading denominated in Korean won neared its recent peak as well, hovering at around 150 million won ($108,700) as of press time. Regulatory developments in the US stoked industry optimism that the country will shortly agree on its first regulations for digital assets, boosting investor sentiment for the cryptocurrency. According to global price-tracking platform CoinM
May 22, 2025 -
Seoul shares gain nearly 1% on bio, heavy industry gains
South Korean stocks finished nearly 1 percent higher Wednesday to snap a two-day fall, as investors bolstered bio, heavy industry and other blue chips despite overnight losses on Wall Street. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.78 points, or 0.91 percent, to close at 2,625.58. Trade volume was moderate at 367 million shares worth 7.34 trillion won ($5.29 billion), with gainers outnumbering decliners 537 to 334. Foreign invest
May 21, 2025 -
Seoul shares open higher on chip, bio gains
South Korean stocks opened higher Wednesday, as investors scooped up semiconductor, bio and other blue chips despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index gained 22.41 points, or 0.86 percent, to 2,624.21 in the first 15 minutes of trading. Overnight, all major U.S. stock indices fell, taking a pause following recent Wall Street gains amid a lack of market-moving catalysts. The Dow Jones Industrial Average fell 0.27 percent, and the S&P 500 dropped 0.39
May 21, 2025 -
Seoul shares fall on US credit downgrade jitters
South Korean stocks closed markedly lower Monday as investors grew cautious over the impact of global credit rating agency Moody's downgrade of the United States' credit rating. The local currency weakened against the US dollar. The benchmark Korea Composite Stock Price Index lost 23.45 points, or 0.89 percent, to close at 2,603.42. Trade volume was thin at 309.7 million shares worth 6.69 trillion won ($4.79 billion), with losers beating winners 642 to 240. The index opened lower and extended it
May 19, 2025 -
Foreign investors return to Kospi on stronger won
Foreign investors, have taken a break from their massive selling spree this month, scooping up shares onthe South Korean benchmark Kospi worth roughly 1.5 trillion won ($1.07 billion) in trading up to Friday. According to data provided by the country's main bourse operator, Korea Exchange, offshore investors net bought shares amounting to 1.47 trillion won on the Kospi from May 2 to 16. Outside of May 2, when foreigners offloaded shares worth 167 billion won, they were net buyers on the market f
May 19, 2025 -
Seoul shares open lower following US sovereign rating downgrade
South Korean stocks opened lower Monday amid concerns over the impact of the United States' sovereign credit rating downgrade on the global market and the economy. The benchmark Korea Composite Stock Price Index fell 10.2 points, or 0.39 percent, to 2,616.67 in the first 15 minutes of trading. On Friday (US time), global credit ratings agency Moody's slashed the US' sovereign rating by one notch from Aaa to Aa1, citing concerns about the country's ballooning deficit and rising interest costs. In
May 19, 2025 -
Korean won rises to 6-month high over trade deal fears
The Korean won’s value against the dollar reached a six-month high Friday as traders price in the assumption that the country will be pressured to push for the gain of its currency to reach a trade deal with the US. The won stood at 1,389.6 won per dollar as of daytime trading closing Friday, appreciating by 4.9 won from the previous session. It was the strongest level of won per dollar as of daytime closing since hitting 1,386.4 won per dollar on Nov. 8. After opening at 1,397 won, pricing in t
May 16, 2025 -
S. Korea's ATS secures 20% market share
South Korea's first alternative stock exchange Nextrade has successfully settled down, taking up an average of 20 percent market share — double its initial target. According to the company on Friday, its daily trading volume stood at 6.05 trillion won ($4.34 billion) on Wednesday, reaching the highest since the service went live in March. Stocks worth 4.21 trillion won were traded during the main market hours, while transactions during the premarket and after-market hours amounted to 1.83 trilli
May 16, 2025 -
Foreigners’ stock exodus continues in April
Foreign investors offloaded stocks worth 13 trillion won ($9.3 billion) on the local stock market in April, surpassing the records set during the COVID-19 pandemic and the global financial crisis. According to the watchdog Financial Supervisory Service on Friday, offshore investors sold stocks amounting to a net 13.59 trillion won on the local stock market last month, continuing the nine-month-long sell-off move. The amount surpasses the 13.45 trillion won record set in March 2020 during the COV
May 16, 2025 -
Record-breaking W25b apartment deal reinforces Hannam-dong’s status as luxury enclave
An apartment unit in Nine One Hannam, one of Seoul’s most exclusive residential complexes in Seoul’s upscale Hannam-dong, has shattered South Korea’s real estate records this year with a jaw-dropping 25 billion won ($18.5 million) sale. According to the Ministry of Land, Infrastructure and Transport's transaction disclosure system, a 273-square-meter unit in the complex changed hands this past February in an all-private deal between individuals. This marks the highest apartment transaction price
May 16, 2025 -
Korean crypto CEO to join Trump's inner circle of 'meme coin' millionaires
A South Korean crypto firm CEO has landed an unexpected invitation to an upcoming private dinner with US President Donald Trump on May 22, after becoming one of the largest holders of the president’s own cryptocurrency, $TRUMP. The May 22 event at Trump National Golf Club in Washington is limited to just 25 people worldwide, a group chosen based on their weighted holdings of $TRUMP between the coin’s Jan. 17 launch and May 12. The only Korean on the list is Oh Sang-rok, CEO of Hyperithm, a Seoul
May 15, 2025 -
Seoul shares open lower after 3-day rise
South Korean stocks started lower Thursday as investors attempted to cash in recent gains amid eased tariff woes. The benchmark Korea Composite Stock Price Index lost 6.13 points, or 0.23 percent, to 2,634.44 in the first 15 minutes of trading. The index jumped 1.23 percent the previous day, extending its winning streak to a third day. On Wall Street overnight, US stocks finished mixed. The Dow Jones Industrial Average fell 0.21 percent, while the S&P 500 gained 0.10 percent and the Nasdaq Compo
May 15, 2025 -
Seoul shares open higher on chip gains amid eased tariff concerns
South Korean stocks opened higher Wednesday as investors shored up semiconductor and heavy industry shares amid eased tariff concerns following a recent trade agreement between the United States and China. The benchmark Korea Composite Stock Price Index rose 16.59 points, or 0.64 percent, to 2,625.01 in the first 15 minutes of trading. Chip giants Samsung Electronics and SK hynix jumped 0.97 percent and 3.02 percent, respectively, tracking overnight US tech share gains over news of Nvidia's plan
May 14, 2025 -
Seoul shares edge up after US-China trade deal; won sharply down
South Korean stocks edged up Tuesday following a trade agreement between the United States and China. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 1.09 points, or 0.04 percent, to close at 2,608.42, following a 1.17 percent jump on the previous day. Trade volume was moderate at 413.3 million shares worth 8.32 trillion won ($5.87 billion), with gainers closely beating decliners 450 to 418. Institutions and individuals led the daily d
May 13, 2025 -
Won falls as US-China tariff truce lifts dollar
The Korean won weakened Tuesday, hit by the strengthening of the US dollar as Washington and Beijing deescalated their trade war. The benchmark Kospi remained flat, unable to join the global stock rally. The won stood at 1,416 won per dollar as of the close of daytime trading Tuesday, down 13.6 won from the previous session. After opening at 1,415 won, it briefly strengthened to 1,408 won before slipping to 1,420.5 during the session. On the previous day, the won had weakened to 1,426 per dollar
May 13, 2025