Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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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
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Financial regulator hints at levying taxes on Samsung chairman’s assets
Financial authorities will check whether rules were followed in the handling of assets worth 4.4 trillion won ($3.9 billion) owned by Samsung Group Chairman Lee Kun-hee, the top financial regulator said Monday. During a parliamentary audit, Financial Services Chairman Choi Jong-ku also indicated that authorities could levy taxes on capital gains earned by Lee from the assets that may have been in borrowed-name accounts.The public scrutiny of Lee's assets again put the spotlight on the 2008 inves
Oct. 30, 2017
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Korean stocks up 0.23% Monday morning
South Korean stocks traded higher late Monday morning taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index gained 5.75 points, or 0.23 percent, to 2,502.38 as of 11:20 a.m.Tech shares continued to gain ground, with Samsung Electronics moving up 1.81 percent and SK hynix increasing 2.68 percent. Samsung Electro-Mechanics added 4.42 percent.SK Innovation advanced 2.18 percent, and top mobile messenger operator Kakao increased by 1.39 percent.The local cu
Oct. 30, 2017
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[Kosdaq Star] ‘Black Desert’ developer Pearl Abyss goes uptrend after weak debut
This is the 44th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdIn its seven years of operation, Pearl Abyss has produced just one game -- “Black Desert Online” – but after a weak debut last month its shares have risen 30 percent. Debuting on Sept. 14 on the second-tier Kosdaq, the game developer, based in Anyang, Gyeonggi Province, has been on a tear in the market for the last two weeks. Pearl Abyss shares gained 28.7 percent the
Oct. 29, 2017