Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Stocks open higher on Samsung Electronics' strong earnings
South Korean shares opened higher Thursday, boosted by market bellwether Samsung Electronics' strong earnings report.The benchmark Korea Composite Stock Price Index rose 12.75 points, or 0.52 percent, to 2,447.26 in the first 15 minutes of trading.Market kingpin Samsung Electronics gained 1.2 percent after releasing its second-quarter earnings through a regulatory filing. The tech giant said it racked up 14.1 trillion won ($12.6 billion) in the April-June period, up 72.7 percent from 8.14 t
July 27, 2017
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[Advertorial] Citibank streamlines online loan serviceability assessments
Citibank Korea’s quest for online penetration is not limited to online banking but also extends to the loan serviceability assessment of customers, the firm said Wednesday.The launch of an internet-only loan assessment platform on July 18, dubbed Debt Consolidation Service, allows customers to check their eligibility for loans and reduce the cost of consolidating debts. The assessment is not exclusively offered to the customers of Citibank Korea’s online banking service. Users are re
July 26, 2017
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Banks’ dependence on household loans hurts economy: FSC chairman
Financial Services Commission Chairman Choi Jong-ku on Wednesday highlighted local banks’ overdependence on gains from household loans as a hurdle to wage-led growth and said he would lower the maximum interest rate to 24 percent from next year.In his first press conference as the head of the nation’s top financial regulator a week after he took office, Choi pledged to address banks’ overreliance on mortgage loans, saying they have distanced themselves from their original role
July 26, 2017
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Seoul shares end lower on foreign selling
South Korean stocks closed lower Wednesday as foreign investors offloaded local stocks on profit-taking, analysts said. The local currency fell against the US dollar.The benchmark Korea Composite Stock Price Index slid 5.39 points, or 0.22 percent, to finish at 2,434.51. Trading volume was moderate at 332 million shares worth 6.4 trillion won ($5.7 billion) with losers outpacing gainers 419 to 385.The local stock market opened slightly higher, taking a cue from overnight Wall Street gains, but c
July 26, 2017
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Korean stocks down late Wednesday morning
South Korean stocks traded lower late Wednesday morning, as declines in tech shares weighed on the market. The benchmark Korea Composite Stock Price Index lost 3.02 points, or 0.12 percent, to 2,436.88 as of 11:20 a.m.Market bellwether Samsung Electronics fell 0.36 percent, and SK hynix, a major chipmaker, declined 4.26 percent.Korea Electric Power Corp. dropped 0.77 percent.No. 1 carmaker Hyundai Motor, meanwhile, rose 1.03 percent, and its smaller affiliate Kia Motors also moved up 1.63 percen
July 26, 2017
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Samsung Group funds rate of return tops 30 on solid earnings: sources
The rate of return for equity funds of Samsung Electronics Co. and other Samsung Group-related firms exceeded 30 percent this year amid the bullish market backed by solid corporate earnings and the global economic recovery, industry data showed Wednesday.The benchmark Korea Composite Stock Price Index rose 20.40 percent to 2,439.90 Tuesday from 2,026.46 as of the end of last year. The stock prices of 16 companies affiliated with Samsung Group jumped 32.42 percent during the same time span. The y
July 26, 2017
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Stocks open higher tracking US gains
South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street, analysts said. The benchmark Korea Composite Stock Price Index rose 3.88 points, or 0.16 percent, to 2,443.78 in the first 15 minutes of trading.Market kingpin Samsung Electronics, however, dropped 1.32 percent, and SK hynix was 2.7 percent down.Hyundai Motor, the No. 1 automaker, rose 0.34 percent, and AmorePacific, the country's top cosmetics maker, gained 2.78 percent.LG Chem, the country's top chemicals firm
July 26, 2017
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Banks post record-high H1 profits on household lending
South Korea’s leading banks last week posted record-high first-half earnings, attributing the result to the economic recovery, cost savings, structural improvements and success in nonbanking sectors.But their positive performance was mostly due to an increase in interest rates, a factor weighing on the nation’s households as debt levels continue to rise.The rates for business loans, in contrast, were eased during the period, placing the issue as a task for the Moon Jae-in government
July 25, 2017
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Seoul stocks retreat on profit-taking
South Korean stocks finished lower Tuesday on profit-taking, after the key index hit a record high in the previous session, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 11.63 points, or 0.47 percent, to close at 2,439.90. Trade volume was moderate at 270 million shares worth 5.3 trillion won ($4.7 billion), with losers outnumbering gainers 499 to 300.The local stock market opened nearly flat as investors sought profit-taking after
July 25, 2017
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Korean stocks down late Tuesday morning
South Korean stocks traded lower late Tuesday morning, as investors opted to cash in recent gains after the market closed at a fresh-high level in the previous session.The benchmark Korea Composite Stock Price Index shed 3.83 points, or 0.16 percent, to 2,447.70 as of 11:15 a.m.Market kingpin Samsung Electronics fell 0.98 percent, while major chipmaker SK hynix declined 1.92 percent.LG Chem, the country's top chemical company, fell 1.19 percent, while AmorePacific, the No. 1 cosmetics maker, was
July 25, 2017
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Seoul stocks open nearly flat on profit-taking
South Korean stocks opened nearly flat Tuesday as investors sought profit-taking after the market closed at a record-high level in the previous session.The benchmark Korea Composite Stock Price Index rose 0.35 point, or 0.01 percent, to 2,451.88 in the first 15 minutes of trading.Market kingpin Samsung Electronics was 0.63 percent down, and SK hynix, a major chipmaker, also fell 1.23 percent.Hyundai Motor, the No. 1 automaker, moved up 1.03 percent.The local currency was trading at 1,117.00 won
July 25, 2017
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SK hynix's Q2 net hits record high on strong chip sales
South Korea's No. 2 chipmaker SK hynix Inc. said Tuesday its second-quarter net profit shot up nearly ninefold, apparently helped by a strong average sales price of dynamic random-access memory and NAND chips.The record-breaking net profit came to 2.46 trillion won ($2.2 billion), soaring from 286 billion won a year earlier, the company said in a regulatory filing. Operating profit also advanced 573.7 percent over the cited period to reach a record 3.05 trillion won. Sales came to an all-time hi
July 25, 2017
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Corporate direct financing jumps 34.8% in H1
South Korean companies' equity and debt sales jumped 34.8 percent on year in the first half, due mainly to a rise in corporate bond issuance, government data showed Tuesday. Local companies raised 82.1 trillion won ($73.5 billion) by selling stocks and bonds in the January-June period, compared with 60.3 trillion won in April, according to the data from the Financial Supervisory Service. Stock sales, including three initial public offerings, reached some 4.9 trillion won, up 39.2 percent on-year
July 25, 2017
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SK widens gap with Hyundai as No. 2 in market cap
SK Group, South Korea’s second-largest conglomerate in market capitalization on the main bourse, managed to widen its lead over Hyundai Motor Group, which it overtook on April 7, data showed Monday.As of Friday’s closing, firms listed on the top-tier market under SK Group had 120 trillion won ($107.5 billion) in market cap, accounting for 6.62 percent of the market, according to data from the sole market operator Korea Exchange. Hyundai Motor Group, which the second most valuable com
July 24, 2017
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Kyobo Lifeplanet expands sales via Woori Bank
Kyobo Lifeplanet Life Insurance, a South Korean internet-only insurer, is eyeing expansion in the bancassurance market, picking Woori Bank as the third local commercial bank to sell its products Monday. Woori Bank, the fourth-largest commercial bank in Korea, plans to sell two products -- savings insurance and pension-linked products.The products can be purchased at the bank‘s financial product category on its website, and “Woori Robo-Alpha,” an artificial intelligence-ru
July 24, 2017
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Seoul shares close nearly flat on profit-taking
South Korean stocks closed at a new record high on Monday, although the local stock market finished nearly flat, as investors opted for profit-taking on bullish rallies observed last week, analysts said. The Korean won gained against the US dollar.The benchmark Korea Composite Stock Price Index edged up 1.47 points, or 0.06 percent, to close at a fresh record high of 2,451.53. Trade volume was low at 230 million shares worth 4.56 trillion won ($4 billion), with losers outnumbering gainers a
July 24, 2017
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Seoul shares trade lower late Monday morning
South Korean stocks traded lower late Monday morning as investors took an apparent breather after the sharp rise observed last week.The benchmark Korea Composite Stock Price Index fell 3.47 points, or 0.14 percent, to 2,446.59 as of 11:20 a.m.Market behemoth Samsung Electronics fell 0.59 percent and Samsung SDI lost 1.38 percent. LG Electronics moved down 0.15 percent.Builders also traded bearish, with Hyundai Engineering & Construction decreasing 1.03 percent and Hyundai Industrial losing 0
July 24, 2017
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Seoul stocks open lower on techs, steel
South Korean stocks opened lower Monday following losses from technology shares and steelmakers.The benchmark Korea Composite Stock Price Index fell 2.87 points, or 0.12 percent, to 2,447.19 in the first 15 minutes of trading.Tech shares mostly lost ground, with Samsung Electronics moving down 0.63 percent and LG Display losing 1.46 percent. No. 2 chipmaker SK hynix, on the other hand, added 0.98 percent.Steelmakers were also among losers, with top player POSCO decreasing 0.46 percent and No. 2
July 24, 2017
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Kakao Bank to cut commission fees for wire transfers
Ahead of its launch Thursday, Kakao Bank unveiled Sunday its plans to offer commission fees on offshore wire transfers that were just a tenth of the amount charged at offline banks.As the second branchless bank in South Korea following K bank that started operation in April, Kakao Bank said its fees charged from electronic wire services will be better streamlined than conventional commercial banks. A bank user who transfers money worth up to $5,000 through the smartphone app will be charged
July 23, 2017
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[Stock Preview] Record-setting Kospi still vulnerable to external risks
The unprecedented rally in South Korea’s stock market might ease off this week, according to analysts who cited vulnerabilities such as the US Federal Reserve Board’s possible hawkish signs and volatility in the markets and currency exchange rate.Multiple analysts forecast the main bourse index would hover at around the current 2,450 mark, with the lowest at 2,410 and the highest at 2,470.A slight hawkish tone from the July meeting of the Federal Open Market Committee held from Tuesd
July 23, 2017