Most Popular
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[Grace Kao] American racism against Stray Kids
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Controversy brews over shakeup of prosecutors amid probe of first lady
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OpenAI gives ChatGPT new powers to see, hear
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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S. Korea to inject $70m into AI-powered public education
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[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
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Korean industries gauge impact of Biden's steep tariffs on China
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[#WeFace] ‘Embrace ESG principle as incentive’
The government should not set legal requirements for companies adopting environmental, social and corporate governance, or ESG, principles, but should instead provide incentives for those accepting green and ethical management practices voluntarily, a top lawyer said. Lim Sung-taek, a managing partner at law firm Jipyong, said in an interview that excessive state-imposed restrictions regarding ESG commitments could lead to market backlash because ESG is about paradigm shifts created by ma
April 12, 2021
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Seoul stocks inch up amid valuation pressure, KOSDAQ closes at 21-year high
South Korean stocks inched up on Monday, as investors took to the sidelines amid increased valuation pressure and uncertainties from the Sino-American political friction. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 3.71 points, or 0.12 percent, to close at 3,135.59. Trading volume was moderate at about 1 billion shares worth around 13.1 trillion won ($11.6 billion), with gainers outnumbering losers 493 to 350. F
April 12, 2021
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Macquarie IM Korea rebranded after local PEF assumes control
Macquarie Investment Management Korea has been rebranded as Feynman Asset Management upon an acquisition deal proposed by a South Korean private equity firm, the company said Monday. The asset management company, which oversees some 1.3 trillion won ($1.2 billion) worth of assets, has named Kim Eun-soo to lead the company. Kim is the former head of the Korean unit of Hong Kong-based Mason Group Holdings. Feynman Invest, a fledgling private equity firm, gained regulatory approval from the Fin
April 12, 2021
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Foreigners to return net buyers after extending sell-offs
Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a fourth consecutive month, but some market experts have a positive outlook on their return. “Foreigners’ net purchase has lately occurred to Kospi since the index is still relatively undervalued (compared to other key indexes) amid growing recovery hopes for global economy and business profits,” Daishin Securities analyst Lee Kyung-min wrote in a report Monday. Accord
April 12, 2021
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S. Korea's stock market cap gains 3.6% in Q1
South Korea's stock market value grew nearly 4 percent in the first quarter of the year on increased share prices of chemical firms, builders, transportation companies and game makers, a corporate tracker said Monday. The combined market capitalization of 2,385 listed companies in Asia's fourth-largest economy came to 2,411 trillion ($2.15 trillion) as of end-March, up 3.6 percent, or 84 trillion won, from the start of the year, according to CXO Institute. Of the total listed companies, 60 per
April 12, 2021
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Seoul stocks open nearly flat on virus woes
South Korean stocks were little changed Monday amid lingering concerns over virus outbreaks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.24 point, or 0.01 percent, to 3,132.12 points in the first 15 minutes of trading. Stocks came to a muted start after the KOSPI snapped its six-day gaining steak the previous session as valuation pressure increased ahead of the earnings report season. Over the weekend, South Korea's daily new coronavirus cases stayed in the 600s for the thi
April 12, 2021
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BNP Paribas, Shin & Kim holds ESG financing webinar
BNP Paribas South Korea said Sunday it had recently hosted a webinar to offer insight into green finance at home and abroad, as well as on law firms’ key roles in supporting companies’ environmental, social and governance management. Co-hosted by local law firm Shin & Kim, the virtual event featured Kwon Yong-kwon, head of debt capital markets division at BNP Paribas Securities Korea, Song Soo-Young, a partner lawyer at Shin & Kim, and Lee Ji-sun, leader of Posco&rsq
April 11, 2021
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[Herald Interview] Putting Korea's legal services on global map
Behind the growing number of cross-border business deals both small and large in South Korea is not only the nation’s technological competitiveness, but also its legal certainty, top lawyers here said. “As law firms and attorneys take themselves to the next level, Korea’s legal system is increasingly becoming predictable,” said Sky Yang, a managing partner and chief financial officer of Bae, Kim & Lee. That’s not to mention Korea’s civil codes influence
April 11, 2021
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Regulator to probe Hyundai Motor execs for alleged insider trading
Financial authorities will launch an investigation into executives of Hyundai Motor on allegations that they used undisclosed information regarding Apple’s electric vehicle project to profit from share trading, industry sources said Sunday. The Korea Exchange has passed on the case to the Financial Services Commission to begin its own probe as early as this month and decide whether to refer the case to prosecutors, industry insiders said. The KRX investigation, launched during the last
April 11, 2021
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More hot IPOs on deck as fundraising returns to pre-pandemic level
More initial public offerings of South Korean companies are on deck, as the IPO landscape here is increasingly becoming a heated battleground for investors searching for an immediate return after their listing on the stock market. Korea’s IPO market appears to have returned to the pre-pandemic level, as liquidity-driven investors are rushing to opportunities and regulators are shaping out rules to give IPO stock investors a fairer chance of allocation. In the first quarter, 14 companies
April 11, 2021
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More Koreans grow ‘superrich,’ with stock assets exceeding W10b
Despite the ravages of the coronavirus pandemic, the number of South Koreans who hold stocks worth 10 billion won ($8.92 million) or more increased last year, data showed Sunday. Data compiled by the state-run Korea Securities Depository showed that the number of these “superrich” Koreans came in at 2,800 -- up 600, or 27 percent on-year, as of the end of December. Their combined stocks reached 241.5 trillion won in value, up 59.9 trillion won or 33 percent. Of all 2,800 people w
April 11, 2021
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Seoul stocks expected to gain ground next week on foreign buying
South Korean stocks are likely to continue upward movement next week as expected solid earnings reports for the first quarter are anticipated to boost foreign buying, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,131.88 points Friday, up 0.61 percent from 3,112.8 points a week ago. The index fluctuated in the narrow 3,100-3,260-point band during the week. The KOSPI rose for the sixth consecutive session Thursday, backed by strong foreign buying, bu
April 10, 2021
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Industry experts urge legal embrace of digital assets
South Korea should create a legal framework to embrace up-and-rising digital assets, protect customers and support the growth of the industry, a group of experts said Friday. Gathering for a seminar on the legalization of digital assets including cryptocurrencies, experts including lawyers, a lawmaker and businessmen voiced concerns over the government’s cautious approach that could hinder the development and soaring activities of digital assets. During the seminar, Park Jong-baek, a l
April 9, 2021
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Riiid enters 100 most innovative AI Startups by CB Insights
Riiid, a South Korean artificial intelligence-based education tech startup, was added to a lits of the most innovative AI startups by a global market intelligence platform, the company said on Friday. Riiid, which develops AI technology that analyzes student data and content to help them learn, was included in the CB Insights’ AI 100 list, which is in its fifth year. CB Insights has chosen 100 out of 6,000 companies based on several factors including patent activity, investor quality,
April 9, 2021
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Woori chief faces another penalty for misselling
South Korea’s financial watchdog on Friday imposed a penalty on Woori Financial Group Chairman Sohn Tae-seung, holding him responsible for its commercial banking unit’s misselling of funds tied to the 1.7 trillion-won ($1.52 billion) Lime Asset Management scandal. The penalty puts further pressure on Sohn, who is already in a legal fight against the Financial Supervisory Service over its sanction slapped on him for another misselling issue. Sohn was reprimanded with the third-str
April 9, 2021
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Kakao to suspend trading due to 5-for-1 stock split next week
Trading in shares of Kakao, South Korea’s top mobile messenger operator, is set to be suspended for three days from Monday, following its decision to carry out its first-ever stock split. By lowering the face value of its stocks by 80 percent, the split makes it easier for small investors to purchase shares. It will increase the number of issued shares to 443,523,100 from 88,704,620 shares -- each shareholder will get five new shares for each one they currently hold. The newly split shar
April 9, 2021
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Seoul stocks snap weeklong gains on valuation concerns
South Korean stocks snapped their weeklong winning streak Friday as foreigners and institutions took a breather amid increased valuation pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.38 points, or 0.36 percent, to close at 3,131.88 points. Trading volume was moderate at about 1.8 billion shares worth some 14.6 trillion won ($13 billion), with gainers outnumbering losers 537 to 305. Foreigners sold a net 325 billion won, whi
April 9, 2021
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State deposit insurer KDIC sells 2% stake in Woori Financial
The state-run Korea Depository Insurance Corp. (KDIC) said Friday it sold a 2 percent stake in Woori Financial Holdings Co. as part of efforts to recoup taxpayer money injected into the company. The stake, or 14.5 million shares, was offloaded through a block sale in pre-market trading for 149.3 billion won ($134 million), the KDIC said. The stake sale comes in line with a government road map to dispose of its interest in the major financial holding company, whose flagship is Woori Bank. It a
April 9, 2021
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Seoul stocks open tad higher on hopes for global economic recovery
South Korean stocks opened higher Friday, tracking overnight Wall Street gains amid growing hopes for a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.25 points, or 0.1 percent, to 3,146.51 points in the first 15 minutes of trading. Overnight, the S&P 500 gained 0.42 percent to a new record closing, with the tech-heavy Nasdaq Composite adding 1.03 percent. In Seoul, market kingpin Samsung Electronics retreated 0.35 percent, and No. 2 chipmaker SK
April 9, 2021
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Bitcoin on rollercoaster ride amid government warnings
Bitcoin prices remained unstable Thursday after falling more than 10 percent late Wednesday in a roller-coaster movement that coincided with the government’s warning and a widening price gap with overseas exchanges. The price for a bitcoin stood at about 71 million won ($63,600) as of 3 p.m. on Thursday, falling from 79 million won a day ago. The price of the largest cryptocurrency climbed sharply in recent days especially in domestic markets, showing a widening “Kimchi premium,&rd
April 8, 2021