Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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[News Focus] Trump, FOMC decisions unlikely to jolt market
Markets in South Korea were moderately mixed Thursday, while analysts here noted that dovish decisions in the United States would leave the market free of immediate impacts, citing the unlikelihood of a rate hike by the Korean central bank at least until the end of this year.The top-tier stock market index took a breather Thursday. The Kospi closed at 2,546.36, down 0.4 percent from Wednesday’s close. This marked an end to the record run that lasted for the four previous days, which lifted
Nov. 2, 2017
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Korea's 100 richest people own stocks worth more than one third of national budget
South Korea's 100 richest people own stocks worth more than one third of the country's national budget amid a recent stock rally, industry data showed Thursday.The value of stocks held by the 100 richest people reached 123.2 trillion won ($110.5 billion) as of the end of Wednesday, up 35.6 percent from early January, according to industry tracker Chaebul.com.Last year, parliament approved a 400.5 trillion won budget bill for 2017. A recent stock rally has further boosted the value of stocks held
Nov. 2, 2017
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KIS one step closer to lending rights
Korea Investment & Securities, Korea‘s fifth-largest securities firm by net worth, moved a step closer in obtaining the rights to lend to local corporations, and is now awaiting the approval of the country’s top regulator, expected next week. On Wednesday, the Securities and Futures Commission sent approval of the short-term debt instrument license of Korea Investment & Securities to its umbrella body and Korea’s top financial watchdog, the Financial Services Commission
Nov. 2, 2017
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Individuals' credit loans up in October
Credit loans extended by South Korea's five major banks rose slightly in October from a month earlier, data showed Thursday, as the government tightened mortgage lending rules.The outstanding balance of credit loans by the five retail banks, including KB Kookmin Bank and Shinhan Bank, stood at 95.62 trillion won ($85.8 billion) at the end of October, up 1.77 trillion won from the end of September, according to the data from the financial industry.The increase is the highest since 2016, according
Nov. 2, 2017
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Samsung Group affiliates make up third of market cap on main bourse
Samsung Group shares account for roughly one-third of market capitalization on South Korea's main bourse as they continue to gain ground, data showed Thursday.Finance market analyzer FN Guide put the total market cap of 15 Samsung Group affiliates at 529.36 trillion won ($476.25 billion) as of Wednesday's closing. It marks a 9.04 percent increase since Oct. 10, when the main KOSPI market reopened after the 10 day Chuseok, or autumn harvest, holiday.The KOSPI's market cap rose 4.95 percent during
Nov. 2, 2017
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Stocks open nearly flat as investors take breather
South Korean stocks opened nearly flat Thursday as the market took a breather after the main bourse renewed its record highs for the fourth consecutive session.The benchmark Korea Composite Stock Price Index edged down 2.2 points, or 0.09 percent, to 2,554.27 in the first 15 minutes of trading. Market kingpin Samsung Electronics inched up 0.07 percent, with its smaller rival LG Electronics increasing 1.95 percent. LG Display also added 1.86 percent.No. 1 carmaker Hyundai Motor, in contrast, shed
Nov. 2, 2017
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Seoul stocks hit another record on tech shares
South Korean stocks closed at another record high Wednesday, led mainly by technology shares, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 33.04 points, or 1.31 percent, to close at 2,556.47. The gain marks the fourth consecutive session that the main bourse has moved up. Trade volume was moderate at 357.9 million shares worth 7.44 trillion won ($6.79 billion), with gainers outnumbering losers 449 to 354.Analysts said the growth wa
Nov. 1, 2017
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KB eyes No. 1 ranking ahead of 16th anniversary
Kookmin Bank celebrated its 16th anniversary on Wednesday, amid anticipations that it would become the nation’s largest commercial bank this year.Yoon Jong-kyoo, chief executive officer of KB Financial Group and its flagship Kookmin Bank, said 2017 is “(the bank’s) first year as a leading bank” in a speech at the anniversary event. This came days after KB Financial Group and Kookmin Bank were found to have both outperformed Shinhan Financial Group and its commercial Shinh
Nov. 1, 2017
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Consumer card transaction in Q3 jumps 15%
South Korean consumers’ card transactions in the third quarter this year jumped 14.5 percent on-year, while consumer card payments soared 11.9 percent, partly on the back of a 10-day holiday early in September and the rise in car purchases on the domestic market, data showed Wednesday.Consumers made nearly 4.5 billion card transactions, accounting for over 90 percent of all debit and credit card transactions in the third quarter, according to an estimate from the Credit Finance Association
Nov. 1, 2017
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Chaebol rankings seesaw over 2 decades
Nearly two-thirds of South Korea's top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday.According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining their status or being split up.Out of the 19 chaebol, 11 business groups -- including Daewoo, Ssangyong, Dongah, Kohap -- were dissolved in the wake of th
Nov. 1, 2017
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Korea's biz environment ranking climbs to 4th place: World Bank
South Korea moved up to fourth place in this year's business environment survey, thanks to high scores in legal settlements and electricity supply, a report by the World Bank showed Tuesday.According to the organization's "Doing Business 2018" report, which is based on an annual survey, the country's ranking represents a one-notch gain from its standing a year earlier.For this year, the World Bank analyzed 190 countries' business environments by breaking them down into 10 broad categor
Nov. 1, 2017
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Stock market's daily turnover soars 33% in Oct.
The daily turnover of South Korea's stock market spiked more than 33 percent on-year in October thanks mainly to the market's recent bull run, the bourse operator said Wednesday.The combined shares traded on the main Korea Composite Stock Price Index and tech-heavy KOSDAQ markets averaged slightly over 10 trillion won ($8.93 billion) last month, up 33.4 percent from a year earlier, according to the Korea Exchange.The amount was also up 14.1 percent from the previous month. It marks the first tim
Nov. 1, 2017
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KSFC head Jung Ji-won to helm sole market operator
South Korea’s sole market operator, the Korea Exchange, announced Tuesday that Jung Ji-won, chief executive officer of Korea Securities Finance Corp., will take the helm of the firm starting Thursday. The KRX also announced Won Jong-seok, chief executive officer and director of Shinyoung Securities, will become a non-executive director starting Thursday.Jung and Won will serve for three years.The KRX experienced a monthlong leadership vacuum, after former chairman Jeong Chan-woo left the K
Oct. 31, 2017
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Blockchain commercialized for security of Korean brokerages
Brokerages in South Korea have commercialized blockchain technology to build a more secured infrastructure to benefit both users and the firms, according to the Korea Financial Investment Association Tuesday.This marked the first time in the world that financial investment firms have offered customers a decentralized platform for authentication, Kofia Chairman Hwang Young-key said in an opening speech. Through the service dubbed “Chain ID,” based on the Kofia-led consortium’s o
Oct. 31, 2017
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Seoul stocks hit fresh record high on Samsung, automakers
South Korean stocks extended their gains to a third day to finish at a fresh all-time high Tuesday, as investors scooped up market heavyweights, such as Samsung Electronics and automakers, market analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 21.50 points, or 0.86 percent, to close at 2,523.43.Trade volume was moderate at 310 million shares worth 7.61 trillion won ($6.79 billion), with gainers outnumbering losers 459 to 333.The local
Oct. 31, 2017
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Korean stocks edge up late Tuesday morning
South Korean stocks traded higher Tuesday morning on the back of gains in tech and auto stocks.The benchmark Korea Composite Stock Price Index rose 8.9 points, or 0.36 percent, to 2,510.83 as of 11:15 a.m.Market kingpin Samsung Electronics was up 1.89 percent, and SK hynix, a major chipmaker, advanced 1 percent. Hyundai Motor, the No. 1 automaker, gained 1.28 percent, and the largest auto-parts maker, Hyundai Mobis, jumped 5.31 percent.In contrast, Naver, the country's top Internet portal operat
Oct. 31, 2017
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Samsung to expand dividend payments to shareholders through 2020
Samsung Electronics Co. said Tuesday it plans to double dividend payments from 2018 to 2020, in line with steps to give more to shareholders in the wake of its record-breaking earning reports.The South Korean tech giant said it plans to allocate 9.6 trillion won ($8.5 billion) as dividends next year and maintain the amount for 2019 and 2020 as well. The combined dividend figure for this year is estimated at 4.8 trillion won, up 20 percent from a year earlier.The total dividends for the 2018-2020
Oct. 31, 2017
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Stocks open slightly down on overnight US losses
South Korean stocks opened slightly lower Tuesday, taking a cue from overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index fell 2.03 points, or 0.08 percent, to 2,499.90 in the first 15 minutes of trading. Market kingpin Samsung Electronics remained unchanged, and SK hynix, a major chipmaker, fell 0.63 percent.Hyundai Motor, the No. 1 automaker, moved up 1.28 percent, and AmorePacific, the leading cosmetics maker, also shed 2.3 percent.POSCO, the steelmaker, declined 0.
Oct. 31, 2017
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Kospi breaks record, again
South Korea’s main stock market index Kospi closed above 2,500 on Monday for the first time in history.The Kospi finished the day at 2,501.93 Monday, up 0.21 percent from Friday, extending the record run for the second straight day. The index recorded an all-time intraday high of 2,513.87 in early morning trade. Samsung Electronics and chipmaker SK hynix, both market bellwethers, jumped 1.8 percent.Both individual investors and foreign investors net purchased stocks worth over 250 billion
Oct. 30, 2017
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Seoul shares set new record on tech gains
South Korean stocks closed at a fresh all-time high Monday, helped by gains in techs such as Samsung Electronics, analysts said. The Korean won gained against the US dollar.The benchmark Korea Composite Stock Price Index climbed 5.3 points, or 0.21 percent, to 2,501.93. Trade volume was moderate at 338 million shares worth 6.9 trillion won ($6.15 billion), with losers outnumbering gainers at 419 to 373.It marked the first time the main bourse has closed above the 2,500-point mark.Analysts said t
Oct. 30, 2017