Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Affiliated insurers to face double task due to new accounting rules
Insurance providers that are affiliated with financial holding companies will have to keep a two-track record of their financial statements starting next year, due to upcoming changes in accounting ordinances, according to industry officials.The dual system, which will be effective until 2020, is likely to weigh upon insurance subsidiaries, especially those with low levels of capital reserves.Following a decision by the International Accounting Standards Board earlier this year, the financial in
Sept. 26, 2017
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Are NK risks denting consumption, domestic economy?
Signs of downward turns in consumption, the domestic economy as well as the financial market seem to be apparent, amid the saber-rattling between North Korea and the United States, which has heightened tension to the degree of a “declaration of war” on the Korean Peninsula.The main bourse index in South Korea slumped for the sixth consecutive trading day Tuesday with tech giants taking losses, while South Korea’s Composite Consumer Sentiment Index fell for two consecutive month
Sept. 26, 2017
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[Exclusive] Former Alipay Korea country manager to helm Bithumb: source
Jung Won-shik, former country manager of Alipay Korea, has become the new chief executive of BTC Korea, the operator of South Korea’s largest cryptocurrency exchange Bithumb, a source familiar with the matter told The Korea Herald.“(Jung) had been scouted as CEO of BTC Korea since Sept. 4,” said the source, who declined to be named. The source also said Jung’s arrival at BTC Korea was part of the company’s “first batch of a management team made up of key
Sept. 26, 2017
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Seoul stocks end lower amid wait-and-see stance by investors
South Korean stocks finished lower Tuesday as investors took a wait-and-see attitude amid heightened geopolitical tensions, analysts said. The Korean won lost ground against the US dollar.The benchmark Korea Composite Stock Price Index lost 6.08 points, or 0.26 percent, to close at 2,374.32. Trade volume was light at 297 million shares worth 5.6 trillion won ($5 billion), with gainers outnumbering losers 560 to 243.Foreigners and individuals offloaded a net 377.1 billion won and 159.6 billion wo
Sept. 26, 2017
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[Monitor] BOK consistently exposed to cyber attacks
There have been nearly 400 cases of cyberattacks against South Korea’s central bank over the past four years, some of which are suspected to have come from North Korea, a report by Rep. Shim Jae-chul of the Liberty Korea Party showed Tuesday.A total of 399 cases of cyberattacks were made against the Bank of Korea from 2013 to August this year. The majority, or 273 cases, were hacking attempts. Eighty-two percent of the total were conducted from a foreign country.A government official was q
Sept. 26, 2017
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Banks urged to improve consumer welfare, avoid excessive lending
The head of the Financial Supervisory Service urged banks and other financial institutions Tuesday to improve consumer welfare and avoid excessive lending. Choe Heung-sik, governor of the FSS, made the remarks earlier in the day during a meeting with representatives from banking and other financial industry lobby groups, the FSS said in a statement. During the meeting, Choe said some banks and financial institutions are still selling products to consumers with "wrong information."
Sept. 26, 2017
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Seoul shares almost flat in late Tuesday morning on profit-taking
South Korean stocks traded almost flat late Tuesday morning on profit-taking, analysts said.The benchmark Korea Composite Stock Price Index inched down 0.22 point, or 0.01 percent, to 2,380.18 as of 11:20 a.m.On Monday (local time), US stocks declined, with the Dow Jones industrial average dropping 0.2 percent and the broad-based S&P 500 decreasing 0.2 percent. The tech-rich Nasdaq Composite Index tumbled 0.9 percent.Most large caps traded mixed with market kingpin Samsung Electronics losing
Sept. 26, 2017
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Banks to donate W20b for PyeongChang 2018
South Korean banks will donate 20 billion won ($17.7 million) to the organizing committee of the PyeongChang Winter Olympics to help the nation successfully host the quadrennial sports extravaganza, the Korea Federation of Banks said Tuesday. Besides the donation, banks will buy 1 billion won worth of tickets for the games, according to the federation. KEB Hana Bank, an official supporter of the games, also signed a sponsorship deal worth 11.1 billion won. The donation is in line with banks
Sept. 26, 2017
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Korean stocks open lower on US losses
South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index fell 7.14 points, or 0.3 percent, to 2,373.26 in the first 15 minutes of trading. Most large caps traded mixed, with market kingpin Samsung Electronics losing 1.72 percent and global chipmaker SK hynix shedding 2.78 percent.In contrast, leading steelmaker POSCO gained 1.46 percent, and No. 1 automaker Hyundai Motor gained 2.13 percent.US stocks d
Sept. 26, 2017
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Corporate direct financing dips 24% in Aug.
South Korean companies' equity and debt sales plunged more than 24 percent in August from the previous month due mainly to one-off and seasonal factors, government data showed Tuesday. Local companies raised 10.9 trillion won ($9.6 billion) by selling stocks and bonds last month, down 24.4 percent from July, according to the data from the Financial Supervisory Service. Stock sales, including seven initial public offerings, tumbled 69.4 percent on-month to 389.3 billion won in August.The fin
Sept. 26, 2017
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Half of stock trades made within day: data
Nearly half of the entire trade volume in South Korea’s stock market this year until mid-September stemmed from day trading, indicating individual traders’ growing tendency to seek instant profit from stocks with high price volatility, data showed Monday. From January to Sept. 15, day traders bought or sold some 48 percent of shares, or 89.5 billion shares, on the first-tier and second-tier markets, according to data by the sole market operator the Korea Exchange. This comes in contr
Sept. 25, 2017
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S. Korean shares end lower on foreign selling amid tensions over N. Korea
South Korean stocks ended lower Monday as foreign investors and institutions sold local stocks amid escalating tensions between North Korea and the United States. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.31 points, or 0.35 percent, to 2,380.40.Foreign investors offloaded shares worth more than 33.6 billion won ($29.6 million) and institutions sold more than 47.8 billion won. Park Chun-young, an analyst at Daishin Securities, said the d
Sept. 25, 2017
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Korean shares down 0.40% in late morning trade on profit-taking
South Korean stocks traded lower late Monday morning as institutions offloaded large-cap stocks on profit taking.The benchmark Korea Composite Stock Price Index lost 9.47 points, or 0.40 percent, to 2,379.24 as of 11:15 a.m.Kim Ye-eun, an analyst at Cape Investment & Securities, said institutions sold large-cap stocks in apparent profit-taking, which are to blame for losses on the main bourse. Large-cap stocks were mixed across the board.Market bellwether Samsung Electronics Co. gained
Sept. 25, 2017
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Solar energy-related stocks dip on looming US import safeguard
Stocks of solar energy-related stocks in South Korea traded sharply lower Monday on concerns that the United States may take safeguard measures against solar panels imported from China and other countries, analysts said.OCI, South Korea's top producer of polysilicon, had sunk 5.16 percent to 101,000 won ($89) on the Seoul bourse as of 9:55 a.m., and No. 2 player Hanwha Chemical Corp. was 6.6 percent down at 33,250 won.Polysilicon is an essential raw material for solar cells to convert sunlight i
Sept. 25, 2017
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S. Korean shares open lower amid escalating tensions over N. Korea
South Korean stocks opened lower Monday as North Korea risks continued to weigh on the main index.The benchmark Korea Composite Stock Price Index lost 2.22 points, or 0.09 percent, to 2,386.49 in the first 15 minutes of trading.The decline came amid heightened tensions between North Korea and the United States.US Air Force B-1B Lancer bombers flew in international airspace off North Korea's eastern coast in the latest show of force against the isolated country. North Korean leader Kim Jong-
Sept. 25, 2017
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Samsung Biologics to remain top drug firm by market cap
The market value of South Korean biopharmaceutical maker Samsung BioLogics Co. surged during this year's stock rally and is forecast to further rise down the road thanks to its solid biosimilar business, market analysts said Sunday.Samsung BioLogics, a biopharmaceutical unit of South Korea's top conglomerate Samsung Group that was listed in November last year, bypassed all local pharmaceutical companies in terms of market value.The market capitalization of Samsung BioLogics came to 21 trillion w
Sept. 24, 2017
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Citibank Korea reappoints current CEO
Citibank Korea, the local branch of New York-based Citigroup, on Friday recommended current CEO Park Jin-hei as the sole candidate for the next term, officials said.Park is to assume his second term in office once his candidacy is confirmed at meetings of the board of directors and stockholders, both slated for next Wednesday. The top official joined Citibank Korea in 1984, after graduating from Seoul National University and working at the Korea Development Institute.Since taking office as CEO i
Sept. 22, 2017
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Shares extend downtrend amid US-N. Korea tension
South Korea’s stocks closed low Friday, extending its losing streak amid mounting tensions over North Korea’s nuclear and missile programs.The benchmark Kospi closed at 2,388.71, down 17.79 points or 0.74 percent from a day earlier, and the secondary Kosdaq also fell by 12.16 points or 1.84 percent to close at 648.95.Domestic individuals and foreign investors net purchased 41.8 billion won ($36.8 million) and 27.9 billion won respectively on the main bourse, while institutions net so
Sept. 22, 2017
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Samsung Pay most favored mobile payment platform in Korea: survey
Samsung Pay is the most favored mobile payment system in South Korea, a survey showed Friday.The mobile payment service run by Samsung Electronics Co. received the highest 3.78 points on the 1 to 5 scale, according to the survey of 1,200 people by the Korea Consumer Agency. Naver Pay of South Korea's top Internet portal operator and Kakao Pay of South Korea's dominant messaging app KakaoTalk came in second with 3.76 points each. NHN Entertainment Corp.'s Payco platform ranked fourth at 3.70.User
Sept. 22, 2017
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US fiscal tightening to have little impact on Korea: BOK chief
The central bank said Thursday that the US Federal Reserve’s belt-tightening gesture should have a limited impact on Korea’s economy.“I do not think that the Fed’s decision will have a big impact on domestic financial markets,” Bank of Korea Gov. Lee Ju-yeol told reporters on the way to his office.The US central bank on Wednesday announced it will shrink its portfolio of bonds by $10 billion a month starting in October and gradually increase the amount over the next
Sept. 21, 2017