Most Popular
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Probe of first lady on Dior bag allegations set to begin
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Investors eye leveraged, inverse ETFs amid high market volatility
Investors are flocking to high-risk leveraged and inverse exchange-traded funds in South Korea, resulting in an increase in the daily average trading volume.According to the stock market operator Korea Exchange, the combined daily average trading volume of leveraged and inverse ETFs from July 26 to Thursday amounted to nearly 1.3 trillion won ($1.1 billion). It is 81.3 percent higher compared to the corresponding figure of 701.7 billion won in June. A leveraged ETF uses financial derivativ
Aug. 9, 2019
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BOK report hints at possible rate cut in near future
South Korea's central bank again hinted at a possible rate reduction in the near future Thursday, saying the escalating trade dispute between the United States and China, as well as the country's own trade conflict with Japan, may put additional downward pressure on Asia's fourth-largest economy.The Bank of Korea "plans to maintain the easing stance of its monetary policy as upward pressure on price increases is expected to remain weak, while the growth of the local economy remains slow,&qu
Aug. 8, 2019
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Seoul stocks extend gains, won advances late Thursday morning
Seoul stocks extended gains late Thursday morning although investors remain wary over the worsening US-China trade war and Japan's export curbs. The won gained against the US dollar.The benchmark Korea Composite Stock Price Index rose 20.57 points, or 1.1 percent, to 1,930.28 as of 11:20 a.m. The main index shed 6.3 percent in the past six sessions. Japan's trade ministry on Wednesday officially announced the exclusion of South Korea from its "whitelist" of trusted trading partners tha
Aug. 8, 2019
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Seoul stocks dip for 6th straight session, Korean won slightly up amid US-China trade war woes
South Korean shares fell for the sixth consecutive session on Wednesday as market sentiment still remained fragile over escalating trade tensions between Washington and Beijing, despite some signs of calm after China moved to stabilize its currency. The Korean won held steady against the US dollar.The benchmark Korea Composite Stock Price Index declined 7.79 points, or 0.41 percent, to 1,909.71, marking the lowest level since Feb. 18, 2016, when the index stood at 1,908.84.It was the first time
Aug. 7, 2019
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S. Korea to launch M&A consultative body in response to Japan’s export curbs
South Korea’s financial authorities said Wednesday they plan to launch a consultative body by the end of the month to help local firms seeking mergers and acquisitions that could reduce the country’s dependency on imported materials from Japan. The plan is in line with the government’s contingency plans -- announced a few days ago in response to Japan’s decision to remove Korea from its list of trusted trade partners -- including financial support for firms eyeing a foray
Aug. 7, 2019
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CarrieSoft to be listed on Kosdaq this month
CarrieSoft announced Tuesday that it plans to get listed on South Korea’s secondary bourse Kosdaq on Aug. 23.The firm first began with the YouTube channel “Carrie and Toys” in 2014 and exclusively produces kids’ contents. It is home to the iconic character “Carrie,” who reviews popular toys and goods. The character has evolved and now has own branded products. Last year, CarrieSoft’s sales reached 10 billion won ($8.25 million) with an operating lo
Aug. 6, 2019
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Kospi dips under 1,900 for first time in 3 years
South Korea’s benchmark Kospi dipped below the 1,900 mark for the first time in three years Tuesday, with risks stemming from the ongoing trade row between Seoul and Tokyo, the intensifying trade war between Washington and Beijing, and Pyongyang’s latest missile launches pushing the market down. The Kospi fell 1.51 percent from the previous trading to close at 1,917.5. It rebounded slightly after falling to 1,891.81 in the early trading hours. The 1,891.81 point marked the lowes
Aug. 6, 2019
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Korean won dips further amid looming currency war
The South Korean won continued to sink to new lows against the US dollar Tuesday amid escalating trade tensions between the world's two largest economies that now appear to be set to include a currency war.After opening at 1,220.00 won, the local currency was changing hands at 1,217.45 won with the US dollar as of 9:37 a.m., down 2.15 won from the previous session's close.On Monday, the won closed at 1,215.30 to the dollar, the lowest in over three years.The won's continued decline came after Be
Aug. 6, 2019
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Korea's current account surplus surges to 8-month high in June
South Korea's current account surplus reached an eight-month high in June on a goods account surplus and record high returns from foreign investment, central bank data showed Tuesday.The country's current account surplus came to $6.38 billion in the month, the highest since October when the country posted a $9.35 billion surplus, according to the preliminary data from the Bank of Korea. The reading also marks the second consecutive month of surplus after the country posted its first current acco
Aug. 6, 2019
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KRX halts trading on Kosdaq as it breaches 600 points
South Korea’s secondary bourse Kosdaq sank below the psychologically important 600-point threshold for the first time in 17 months on Monday, triggering the stock exchange to temporarily halt trading as investor sentiment plummeted due to the escalating trade spat between Seoul and Tokyo. The Korean won also traded at a three-year low against the US dollar, breaking its own significant 1,200-won mark. It closed at 1,215.30 won after hitting 1218.30 won at 10:40 a.m., marking its lowest lev
Aug. 5, 2019
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Bourse operator halts program trading as Kosdaq plunges
Program trading of shares listed on South Korea's secondary Kosdaq market was briefly halted Monday as the market's index plunged over global trade disputes, the bourse's operator said. Program trading was halted for five minutes starting at 2:09 p.m. after the Kosdaq index slipped more than 6 percent, the Korea Exchange said in a statement. It was the first time since June 24, 2016, that the "sidecar" was activated according to exchange rules.South Korea's currency and stocks lo
Aug. 5, 2019
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S. Korea to expand state budget to cope with Japan’s trade curbs
The ruling party, government and presidential office on Sunday vowed to add at least 1 trillion won ($833 million) to next year’s state budget, in an effort to expand fiscal space amid escalated trade tension with Japan.They also agreed to kick off a task force to promote the manufacturing competitiveness of local parts, components and equipment, to make up for the loss of Japanese imports. “The government should swiftly execute the corresponding amount from the (recently appro
Aug. 4, 2019
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Seoul stocks dip to 7-month low, Korean won sinks amid escalating trade tensions
South Korean stocks sank to finish below the psychologically important 2,000-point threshold Friday, by falling 1 percent, in the face of escalating trade tension between its two largest trading partners, and its own with Japan.The Korean won fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index shed 19.21 points, or 0.95 percent, to 1,998.13, the lowest in seven months. Trading volume was low at 427 million shares worth 5.21 trillion won ($4.34 billion), with losers
Aug. 2, 2019
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BOK vows market stabilization efforts amid escalating trade tensions
The Bank of Korea said Friday that it will remain vigilant against any potential volatility in local financial markets caused by escalating trade tension with Japan. "(The BOK) believes there is a possibility that the volatility in the local financial and foreign exchange markets may rise depending on how Japan's export restrictions are actually implemented," the central bank said in a statement after an emergency meeting to review possible fallout from Japan's expanded export restrict
Aug. 2, 2019
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Seoul stocks open lower on trade tensions
Seoul stocks opened sharply lower Friday as Japan is set to remove South Korea from its list of trusted trading partners later in the day and a trade row between the United States and China is escalating.The benchmark Korea Composite Stock Price Index crashed 23.10 points, or 1.15 percent, to reach 1,994.24 in the first 15 minutes of trading.It marked the first time in seven months that the index was below the 2,000-mark during a trading session. Tokyo, which began implementing tougher restricti
Aug. 2, 2019
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Kospi to plunge below 2,000 on prolonged Korea-Japan trade spat
South Korea’s benchmark Kospi is projected to dip below the psychologically important 2,000 mark, if escalating trade tensions with Japan are prolonged, a report released by a local brokerage firm said Tuesday.Amid a lackluster stock market performance, Tokyo is expected to implement the decision to exclude South Korea from its whitelist of trusted export nations on Friday, which would bar Korea from receiving preferential treatment via simplified export procedures. “The local s
July 30, 2019
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Shinhan Financial raises $500m via debt sale
Shinhan Financial Group Co., a major financial holding firm in South Korea, said Tuesday it has raised $500 million by selling sustainability bonds. Sustainability bonds are floated to exclusively finance a combination of green and social projects.The US dollar-denominated bonds carry an yield of 3.34 percent, Shinhan Financial said in a statement. Proceeds from the sale will be used to help Shinhan Financial fund for a range of environmental, social and governance projects, the company said. (Y
July 30, 2019
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Financial groups see earnings boost in H1 despite sluggish market
South Korea’s major financial groups posted record-breaking earnings during the first half of the year, notwithstanding external challenges that have weighed down the overall market, industry data showed Sunday. Shinhan Financial Group and KB Financial Group, the nation’s top two banking groups in terms of assets, logged 1.91 trillion won ($1.6 billion) and 1.84 trillion won in net profit, respectively, according to their recent earnings announcements.Runners-up Hana Financial Group
July 28, 2019
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Woori acquires Kukje Asset Trust to beef up nonbanking sector
Woori Financial Group said Friday it has acquired Kukje Asset Trust, a local real estate trust company, in an effort to boost its nonbanking portfolio.The financial holding firm signed a stock purchase agreement to acquire a combined controlling stake of 65.7 percent from Kukje Asset Trust Chairman Yoo Jae-eun and his partners. Woori said it has acquired the first batch of stock traded -- 44.5 percent -- and the remaining 21.27 percent will be acquired three years later, with Chairman Yoo
July 26, 2019
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Eximbank to be more inclusive in financing new exporters
South Korea’s official export credit agency Export-Import Bank of Korea said Thursday it will expand its credit policy to be more inclusive in financing new exporters with low credit ratings. According to Eximbank, it has allocated a total of 20 billion won ($17 million), with individual raw material exporters funded up to 3 billion won.Also, firms in the innovative growth industry -- such as the energy, information and communications technology, and future transportation and materials sec
July 25, 2019