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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Lee Jong-sup resigns as envoy to Australia
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Official campaigning kicks off for April 10 elections
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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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Seoul stocks hit another new high on Samsung gains
South Korean stocks rose to a fresh all-time high Tuesday as market cap Samsung Electronics shot up on earnings hopes, market analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 4.32 points, or 0.17 percent, to close at 2,484.37, after rising to as much as 2,487.88 at one point.Trade volume was moderate at 193 million shares worth 5.24 trillion won ($4.62 billion), with gainers outnumbering losers 403 to 384.The local stock market opene
Oct. 17, 2017
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Korean stocks slightly up late Tuesday morning
South Korean stocks traded slightly higher Tuesday morning on tech gains, with top market cap Samsung Electronics rising sharply.The benchmark Korea Composite Stock Price Index rose 2.61 points, or 0.11 percent, to 2,482.66 as of 11:15 a.m. Market kingpin Samsung Electronics was 1.71 percent up after forecasting upbeat third-quarter earnings, aided by robust chip sales.SK hynix, a major chipmaker, advanced 0.59 percent, and Naver, the country's top Internet portal operator, gained 1.05 percent.H
Oct. 17, 2017
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Stocks open higher on overnight US gains
South Korean stocks opened higher Tuesday, taking a cue from overnight gains on Wall Street, with market leader Samsung Electronics Co. continuing to increase.The benchmark Korea Composite Stock Price Index climbed 4.64 points, or 0.19 percent, to 2,484.69 in the first 15 minutes of trading. Market kingpin Samsung Electronics was 0.93 percent up after it released upbeat earnings guidance for the third quarter.SK hynix, a major chipmaker, also soared 1.54 percent.In contrast, Hyundai Motor, the N
Oct. 17, 2017
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Regulator to check financial health of securities firms aspiring
The head of South Korea's financial regulator said Monday that financial health is one of key requirements in allowing five leading securities firms to start investment banking businesses. Choi Jong-ku, chairman of the Financial Services Commission, made the comments during a parliamentary session after being asked about concerns that a massive amount of funds could flow into large investment banks that sell investment management accounts (IMAs).
Oct. 16, 2017
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Seoul stocks rise to new all-time high
South Korean stocks rose to a new all-time high Monday on gains in steelmakers and telecoms, market analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 6.43 points, or 0.26 percent, to close at 2,480.05, after rising to as much as 2,487.71 at one point.Trade volume was moderate at 223 million shares worth 6.1 trillion won ($5.41 billion), with losers outnumbering gainers 411 to 394.The local stock market opened higher as top market cap
Oct. 16, 2017
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Over 1 in 10 Korean stocks hit records: KRX
More than 1 in 10 stocks in South Korea’s markets hit an all-time high in closing price this year, while losers outnumbered gainers on both the Kospi and Kosdaq, amid unprecedented rallies mainly led by giants, according to data from market operator Korea Exchange on Monday. Of 2,023 active common and preferred shares listed through 2016 on both the broad-based Kospi and tech-heavy Kosdaq, 237 had hit record-highs as of Wednesday.Among the 237 shares, about two-thirds, or 157, were o
Oct. 16, 2017
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Korean stocks up late Monday morning
South Korean stocks traded slightly higher at all-time high levels Monday morning, with top market cap Samsung Electronics marginally down.The benchmark Korea Composite Stock Price Index rose 2.91 points, or 0.12 percent, to 2,476.53 as of 11:15 a.m.Market kingpin Samsung Electronics was 0.07 percent down after forecasting upbeat third-quarter earnings, aided by robust chip sales. SK hynix, a major chipmaker, plunged 2.76 percent, and Naver, the country's top Internet portal operator, gained 0.1
Oct. 16, 2017
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Stocks open higher on US gains
South Korean stocks opened higher Monday, taking a cue from a rise in US stocks last week, with market leader Samsung Electronics Co. continuing to increase.The benchmark Korea Composite Stock Price Index climbed 6.43 points, or 0.26 percent, to 2,480.05 in the first 15 minutes of trading. Market kingpin Samsung Electronics was 0.41 percent up after it released an upbeat earnings guidance for the third quarter.SK hynix, a major chipmaker, also improved 0.35 percent.In contrast, Hyundai Motor, th
Oct. 16, 2017
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Korean, US financial chiefs discuss North Korea, FTA
The top financial policymakers of South Korea and the United States met Saturday on the sidelines of the Group of 20 Finance Ministers Meeting in Washington D.C. Finance Minister Kim Dong-yeon and Treasury Secretary Steven Mnuchin discussed pending issues including North Korea, the bilateral free trade agreement and the US report on currency manipulation, according to Seoul officials.They expressed concerns over Pyongyang's nuclear and missile provocations and agreed to enhance policy coordinati
Oct. 15, 2017
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Hyundai, Kia's US market share drops to 8-yr low
Hyundai Motor Co. and Kia Motors Corp. saw their combined market share in the United States drop to an eight-year low, as their sales fell more than 10 percent in the first nine months of the year, industry data showed Sunday.The two leading automakers in South Korea sold 969,670 cars in the United States over the January-September period, down 10.2 percent from a year earlier.Their market share fell 0.7 percentage point on-year to 7.5 percent, marking its lowest level since 2009, when it hit 7
Oct. 15, 2017
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Nearly 190 firms delisted over 5 years
Nearly 190 companies have been delisted from the South Korean stock market over the past five years due to poor financial health or other reasons, data showed Sunday.A total of 189 firms, including the country's top shipping line Hanjin Shipping Co., were delisted from the country's main KOSPI and secondary KOSDAQ markets between 2012 and July this year, according to the data by the Korea Corporate Governance Service.Hanjin Shipping was delisted in March after being declared bankrupt the previou
Oct. 15, 2017
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Moody's Analytics expects BOK to hold policy rate steady in October
South Korea's central bank is likely to hold its key rate steady this month as soft domestic demand could keep monetary policy accommodative in the near term, a leading provider of economic analysis said Saturday.The Bank of Korea is set to hold its rate review session Thursday to decide whether to keep or adjust the all-time low rate of 1.25 percent. Still, Moody's Analytics said in a report that the South Korean government's stimulus measures such as the proposed 7.1 percent on-year spending i
Oct. 14, 2017
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Korea, China renew currency swap deal worth W64tr
Despite still-unresolved political and economic tensions over an anti-missile system deployment, Seoul and Beijing have agreed to renew their currency swap deal worth 64 trillion won ($56.9 billion) for another three years, Bank of Korea Gov. Lee Ju-yeol and Finance Minister Kim Dong-yeon told reporters in Washington on Friday. The two finance officials are currently in Washington to attend a meeting of G-20 finance ministers and the annual meeting of the International Monetary Fund and the Wor
Oct. 13, 2017
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Korean shares marginally up in late Friday morning
South Korea's benchmark stock index traded slightly higher after swinging between gains and losses late Friday morning, as foreign investors turned net sellers of local stocks and top cap Samsung Electronics retreated. The benchmark Korea Composite Stock Price Index rose 2.93 points, or 0.12 percent, to 2,477.69 as of 11:20 a.m. after falling as low as 2,469.75 at one point. Samsung Electronics fell 0.55 percent, and global chipmaker SK hynix declined 2.15 percent.Hyundai Motor slipped 1.92
Oct. 13, 2017
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Only one-fifth of chaebol affiliates disclose governance: report
About one-fifth of listed affiliates of the nation's top 10 family-run business conglomerates, or chaebol, have posted public disclosures of their corporate governance, a report showed Friday. Of the 88 listed affiliates of the major business groups, only 17 affiliates made a public disclosure of their governance structure as of September, according to the report by the Daishin Economic Research Institute. The nation's stock exchange operator maintains that listed firms should disclose the
Oct. 13, 2017
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Seoul stocks start higher on institutional buying
South Korean shares opened higher Friday, with institutional investors net buyers of local stocks. The benchmark Korea Composite Stock Price Index rose 1.98 points, or 0.08 percent, to 2,476.74 in the first 15 minutes of trading. Most large caps had mixed trading, with market kingpin Samsung Electronics falling 1.72 percent.Top automaker Hyundai Motor declined 0.96 percent, while top steelmaker POSCO rose 1.6 percent.The local currency was trading at 1,133.40 won against the US dollar, down 0.2
Oct. 13, 2017
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Top financial officials to face grilling at audit
With parliamentary audit sessions entering full-swing, the financial circle is bracing for tough weeks ahead, especially those involved in alleged irregularities in granting an internet-only bank’s license.During the three-week audit period, a total of 19 high-profile financial officials from supervisory organizations and state-run and commercial banks will be present at the parliament as either witnesses or testifiers, according to the parliamentary National Policy Committee.Among t
Oct. 12, 2017
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[News Focus] Tech super cycle dwarfs NK tension, snubs small cap shares
The record-high closure of South Korea’s main bourse this week appeared to prove once again that foreign appetite for the market’s tech giants amid a global tech super cycle tends to precede uncertainties from geopolitical tension. Some analysts also highlighted the contrasting trend of large and small cap shares.The main bourse Kospi on Thursday extended a record streak for two days, closing at 2,474.76, up 0.68 percent from Wednesday. On Wednesday, the Kospi hit an all-time high, 2
Oct. 12, 2017
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Chaebol owner' children control W100b worth of stocks: data
Scores of children of the owners of nine conglomerates in South Korea have more than 100 billion won ($88.2 million) worth of stocks in related companies, government data showed Thursday, amid the owners preferring the early transfer of assets to their offspring to reduce inheritance tax down the road.The amount of stocks held by 25 children of the nine chaebol, or family-run conglomerates, reached 103.2 billion won as of the end of September, according to data by the Fair Trade Commission.The f
Oct. 12, 2017
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Korean shares up in late morning trading
South Korean shares traded slightly higher late Thursday morning, aided by foreign buying.The benchmark Korea Composite Stock Price Index rose 2.73 points, or 0.11 percent, to 2,460.89 as of 11:20 a.m.Top cap Samsung Electronics fell 0.84 percent, and global chipmaker SK hynix declined 1.01 percent. No. 1 automaker Hyundai Motor fell 1.29 percent, and its smaller affiliate Kia Motors traded 2.3 percent lower. POSCO, the No. 1 steelmaker, fell 0.95 percent.Naver, the operator of the country'
Oct. 12, 2017