Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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Investors watchful after Biden victory
With the election of Democrat Joe Biden as the next US president, investors here and abroad are paying keen attention to the impact of the outcome on the financial market. What was widely perceived as a worst-case scenario in the eyes of market watchers -- a Biden presidency combined with Republican control of the US Senate -- has so far instead given a boost to the market. The results defied predictions of a bearish gridlock that might derail stock markets, primarily centering on the Democrat
Nov. 8, 2020
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Shinhan Bank joins forces with LS Electric for green energy push
South Korea’s leading commercial bank Shinhan Bank announced Sunday that it has signed an agreement to carry out green energy projects with electric parts producer LS Electric. Through the partnership, the two companies will work together to support alternative energy projects involving solar power, energy storage systems and fuel cells. The banking firm and manufacturing firm will build a platform to offer financing services for small and medium-sized companies working with conglomerates
Nov. 8, 2020
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Strong won expected with Biden victory: analysts
Joe Biden's election as US president is likely to keep the South Korean currency strong against the US greenback for a while, which will work to trigger foreign capital inflow to the local stock markets, Yonhap quoted analysts as saying Sunday. The local currency closed at 1,120.4 won against the US dollar Monday, up 7.8 won from the previous session's close and the strongest in 21 months. Analysts said Biden's election victory could further push up the Korean won down the road, as the presid
Nov. 8, 2020
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Shinhan Financial CSO named as Korea’s first member of UNEP FI Global Steering Committee
Park Sung-hyun, the incumbent chief strategy and sustainability officer of Shinhan Financial Group has been appointed as a new member to the prestigious Global Steering Committee under the United Nations Environment Programme Finance Initiative, the banking group said Sunday. Launched in 1992, UNEP FI is a strategic public-private association set up by the UNEP and the global financial sector with the purpose of sustainable management. It is working with more than 300
Nov. 8, 2020
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SmartStudy denies rumors of Nasdaq listing
SmartStudy, best known for its super viral “Baby Shark” song, said Friday that it is not yet considering listing itself on the US tech-heavy Nasdaq market, refuting rumors by some local media reports. “We have not yet decided whether to go public. Discussion on which market to be listed was not even in progress,” the educational entertainment company said. “We’ll look into the initial public offering scenario from various angles based on our firm’s con
Nov. 6, 2020
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Seoul stocks up for 5th day on easing US election uncertainties
South Korean stocks extended their winning streak to a fifth day Friday, helped by massive foreign buying amid eased uncertainties over US election results. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.71 points, or 0.11 percent, to close at 2,416.5. Trading volume was moderate at about 812 million shares worth around 12.4 trillion won ($11.1 billion), with losers outnumbering gainers 533 to 294. The KOSPI traded choppy amid profit
Nov. 6, 2020
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KRX chief to take post as insurers’ association chief within year
Korea Exchange Chairman Jung Ji-won is set to take the helm at the General Insurance Association of Korea next month, according to the industry sources Friday. GIAK, an organization that represents local general insurance firms, is slated to hold a general meeting on Nov. 13 to discuss the agenda of appointing Jung. The incumbent chief of the bourse operator was recommended Monday as the sole candidate of the association’s next chief. The decision will be made by representatives from the
Nov. 6, 2020
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Seoul stocks open higher on another Wall Street rally
South Korean shares opened higher Friday, as investor sentiment was boosted by an overnight rally on Wall Street caused by eased uncertainties over the US presidential election. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.34 points, or 0.59 percent, to 2,428.13 in the first 15 minutes of trading. Stocks continued to fare strong after a four-session winning streak, as investors pinned hopes that stocks will advance after the US election. Overnight, the tech-heavy Nasdaq com
Nov. 6, 2020
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Kakao Bank records highest net profit in Q3
Ahead of its initial public offering, South Korea’s leading internet-only bank Kakao Bank said it logged its highest net profit in the third quarter this year, mainly due to a turnaround in noninterest business. Net profit came to 40.6 billion won ($35.96 million) in the July-September period, up by 600 percent from a year earlier, when it marked 5.6 billion won. The third quarter‘s figure grew by 1.5 times from the second quarter’s result of 26.8 billion won. The company a
Nov. 5, 2020
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Local stocks up with US election still undecided
The US stock market rally with the presidential election still up in the air gave a boost to the South Korean stock market Thursday, particularly for tech shares. Extending gains that began earlier in the week, South Korea’s main bourse Kospi rose 2.4 percent, or 56.47 points, to close at 2,413.79 while the tech-heavy Kosdaq added 2.16 percent, or 17.83 points, to reach 844.8. Electric battery makers and biotechnology firms saw their stocks jump on the day. Battery producer SK Innovati
Nov. 5, 2020
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KRX to delist original developer of disputed drug Invossa
South Korea’s sole bourse operator Korea Exchange has concluded that it will delist Kolon TissueGene, the original developer of an invalidated joint inflammation treatment named Invossa, it announced via public filing Thursday. The KRX’s Kosdaq Market Committee held a meeting Wednesday and decided to delist the scandal-ridden drugmaker, saying it had not shown sufficient efforts to improve management. Along with failing to achieve the proposed goals that were submitted last year, t
Nov. 5, 2020
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Shinhan BNP Paribas draws W52b commitment to finance wind turbines
South Korea’s asset management company Shinhan BNP Paribas Asset Management said Thursday it has snapped up a combined 52 billion-won ($46 million) commitment to a new private fund to finance a wind turbine project in South Jeolla Province. The new fund, dubbed SH BNPP Green New Deal Fund No. 1, will target 17.325-megawatt wind turbines in Wando County, South Jeolla Province. Shinhan BNP Paribas said it managed to reduce the price volatility by entering into a 20-year supply contract wit
Nov. 5, 2020
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Seoul stocks open sharply higher despite US election limbo
The South Korean benchmark stock index opened sharply higher Thursday despite the US presidential election being in limbo, taking a cue from the overnight Wall Street rally. The benchmark Korea Composite Stock Price Index (KOSPI) rose 31.13 points, or 1.32 percent, to 2,388.45 in the first 15 minutes of trading. Stocks traded bullish after a 0.6 percent hike the previous session, as investors rush for giant tech and bio stocks as US election uncertainties continue. Investor sentiment
Nov. 5, 2020
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[KH Finance Forum] S. Korea to level playing field for financial companies, tech rivals
South Korea is slated to unveil policy packages to promote fair competition between traditional financial giants and emerging tech players as the pandemic accelerates the digital transformation in the local finance industry, a senior official said Wednesday. Responding to the rise of tech giants in the sector, the Financial Services Commission will construct a legal framework to supervise those firms’ presence in the finance market and ease regulatory imbalances between convention
Nov. 4, 2020
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Seoul shares close higher amid US election vote count
South Korean shares closed higher Wednesday as investors kept a watchful eye on the ongoing vote count of the US presidential election. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.01 points, or 0.6 percent, to close at 2,357.32. Trading volume was high at about 972.9 million shares worth some 14.7 trillion won ($12.9 billion), with gainers outnumbering losers 441 to 377. Foreigners offloaded a net 218.3 billion won of local stocks
Nov. 4, 2020
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Seoul shares open higher ahead of US election result
South Korean shares opened higher Wednesday, tracking overnight gains on Wall Street as investors awaited the results of the US presidential election. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.98 points, or 0.9 percent, to 2,364.29 in the first 15 minutes of trading. The local market followed gains on Wall Street as preelection polls favored Democratic nominee Joe Biden over President Donald Trump, raising investor hopes for reduced uncertainties surrounding
Nov. 4, 2020
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Korean office workers warm to stock investment: survey
The proportion of South Korean office workers taking a keen interest in stock investment has surged in recent months as retail investors began a buying boom, betting on gains from market volatility, a survey showed Tuesday. According to job portals Job Korea and Albamon, half of the 593 wage-earning respondents said they invested in stocks. The figure was 22.8 percentage points higher than two years ago, when the same survey was conducted. The survey also showed that 76.7 percent were investi
Nov. 3, 2020
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Seoul stocks rally amid US presidential election uncertainty
South Korean stocks rallied Tuesday on hopes the shares will advance after an apparently imminent US presidential election result. The local currency closed at 1,134.1 won against the US dollar, down 0.5 won from the previous session’s close. The nation’s benchmark Kospi closed at 2,343.31, up 43.15 points, or 1.88 percent, from the previous session. The index prolonged its uptrend since marking 2,315.81 earlier in the day. Foreign and institutional investors scooped up 208.1 bill
Nov. 3, 2020
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Woori Financial to hold digital training for employees
Woori Financial Group said Tuesday it would implement an employee training program starting this month, to enhance its digital capabilities. For the program, the group will publish storyboards online about how to create digital financial services, make a good use of e-marketing methods and study consumer trends, officials said. Employees from digital finance units across the banking group’s affiliates -- Woori Bank, Woori Card, Woori Finance Research Institute and Woori FIS, a fina
Nov. 3, 2020
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SC Bank launches online sales channel to support social ventures
Standard Chartered Bank Korea said Tuesday it had launched an online sales channel on Naver, South Korea’s biggest search portal, to support social ventures operated by young entrepreneurs. The lender has partnered with Naver’s donation platform, called “Happybean,” and opened up an online market there, which will be run until Nov. 30. As of Tuesday, six social enterprises were selling a wide variety of products ranging from food to clothing, while introdu
Nov. 3, 2020