Most Popular
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President Yoon Suk Yeol says will entrust state affairs to ruling party
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Conflict erupts over ruling camp's takeover plan
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Motion to impeach Yoon Suk Yeol scrapped
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Bill to investigate Kim Keon Hee fails to pass
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Can Yoon be suspended without impeachment?
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[Breaking] Majority of ruling party lawmakers exit after vote on first lady probe
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[Breaking] Yoon to step back from state affairs, diplomacy: ruling party leader
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Uncertainty looms over Yoon's plans to delegate power to party
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Singing K-pop, chanting slogans, masses fill Seoul streets for and against impeachment
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Ex-Defense Minister arrested for insurrection, abuse of authority
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Kakao Bank implements W500b capital hike
Kakao Bank, South Korea's second Internet-only bank, implemented a 500 billion won ($441.9 million) capital increase on Tuesday as a part of a refinancing plan to bolster its lending business. Kakao Bank, launched in late July with paid-in capital of 300 billion won, has attracted about three million accounts and extended loans worth 1.4 trillion won as of Aug. 27. The capital hike was made by issuing 100 million new shares worth 5,000 won each.Major shareholders of Kakao Bank, including Korea I
Sept. 5, 2017
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Seoul stocks open higher on techs, autos
South Korean stocks opened higher Tuesday after suffering a sharp decline in the previous session following Pyongyang's nuclear provocations. The benchmark Korea Composite Stock Price Index gained 6.74 points, or 0.29 percent, to 2,336.39 in the first 15 minutes of trading.On Sunday, Pyongyang claimed it successfully conducted a test of a hydrogen bomb that can be loaded on an intercontinental ballistic missile. Tech shares led the recovery, with top cap Samsung Electronics advancing 0.13 p
Sept. 5, 2017
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Markets in red on NK downward momentum
Markets in South Korea took a downturn Monday in the wake of the most powerful nuclear bomb test by North Korea on Sunday, drawing a mixed forecast on the aftereffect from local analysts.The main bourse index Kospi closed at 2,329.65, down 1.19 percent, while the tech-heavy secondary Kosdaq tumbled 1.68 percent to 650.89. Market bellwether Samsung Electronics‘ stock price fluctuated, starting 2.02 percent lower in the opening and closing at 0.95 percent lower.Of the Kospi-listed top 20 p
Sept. 4, 2017
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Seoul shares shed over 1% on N. Korean nuke provocation
South Korean stocks sank by more than 1 percent Monday as the escalating geopolitical tension following Pyongyang's nuclear test soured investor sentiment, analysts said. The Korean won sharply fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 28.04 points, or 1.19 percent, to 2,329.65. Trade volume was low at 244 million shares worth 4.32 trillion won ($3.81 billion), with losers far outnumbering gainers at 715 to 124.On Sunday, North Korea claimed it had succes
Sept. 4, 2017
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S. Korean stocks down late Monday morning on NK threat
South Korean stocks traded lower late Monday morning apparently as investors sought after safer assets on Pyongyang's sixth nuclear test staged over the weekend.The benchmark Korea Composite Stock Price Index shed 16.47 points, or 0.7 percent, to 2,341.22 as of 11:20 a.m.On Sunday, Pyongyang announced it had successfully conducted a test of a hydrogen bomb that can be mounted on an intercontinental ballistic missile. Market behemoth Samsung Electronics shed 0.56 percent, and top chipmaker S
Sept. 4, 2017
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Seoul stocks open sharply lower on Pyongyang's nuke test
South Korean stocks opened sharply lower on Monday after North Korea conducted its sixth nuclear test a day earlier, escalating geopolitical tension in the Northeast Asian region.The benchmark Korea Composite Stock Price Index plunged 26.87 points, or 1.14 percent, to 2,330.82 in the first 15 minutes of trading.On Sunday, Pyongyang claimed it successfully conducted a test of a hydrogen bomb that can be loaded on an intercontinental ballistic missile. Tech giants lost ground, with top cap Sa
Sept. 4, 2017
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[Stock Preview] North Korea risks loom over Kospi
Security tension is most likely to return to focus in South Korea’s stock markets this week following the North’s sixth nuclear test Sunday, further dampening investors’ sentiment.A 5.7 magnitude tremor was detected in northeastern North Korea on Sunday at around 12:29 p.m., which North Korea claimed to be a test of a hydrogen bomb that can be loaded into its intercontinental ballistic missile.“The news would bring noise in investor sentiments and stock markets in South K
Sept. 3, 2017
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Korea seeks to regulate digital currencies
South Korea's top financial regulator said Sunday it will step up monitoring and carry out probes into money laundering, unauthorized financing and other illicit transactions of digital currencies. Joining Japan, China and other Asian nations in trying to regulate crypto-currencies, the Financial Services Commission warned that the recent transaction volume and volatility of digital currencies are "excessive." The move by the FSC comes as the price of a bitcoin, the best-known di
Sept. 3, 2017
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Ex-Seoul chief of U.S. equity fund released: ministry
The former Korea branch chief of U.S. equity firm Lone Star has been released in Italy, Seoul‘s justice ministry said Friday, dimming the prospects of his return to Korea for an inquiry into alleged irregularities surrounding the 2003 sale of a local bank. The ministry said that a Milano-based court has recently set free Steven Lee, the Korean-American who headed the Seoul office between 1998 and 2005, apparently because the statute of limitations of the charges against him had expired.Lee
Sept. 1, 2017
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Finance minister vows to clarify scope of ordinary wage
Deputy Prime Minister for economic affairs and Finance Minister Kim Dong-yeon said on Friday the government intends to propose revisions to Korea’s Labor Standards Act in an effort to further clarify the legal scope regarding ordinary wages, amid intensifying legal confrontation between the labor and the management. “We plan to further strengthen business roadmaps and add support to the wage system restructuring in order to prevent any unnecessary labor-management disputes,“ Ki
Sept. 1, 2017
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Seoul stocks down on institutional sell-offs
South Korean stocks finished lower Friday, as investors continued to remain cautious in betting on risky assets. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index fell 5.5 points, or 0.23 percent, to close at 2,357.69.Trade volume was a moderate 277 million shares worth 4.67 trillion won ($4.16 billion), with gainers slightly outnumbering losers 405 to 401.The local stock market opened higher as market sentiment was boosted by overnight gains on Wall Stree
Sept. 1, 2017
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Korean stocks down late Friday morning on foreign selling
South Korean stocks traded slightly lower Friday morning as foreign investors continued to unload local shares.The benchmark Korea Composite Stock Price Index shed 3.33 points, or 0.14 percent, to 2,359.86 as of 11:15 a.m.Bourse heavyweights traded mixed, with market kingpin Samsung Electronics up 0.39 percent. SK hynix, a major chipmaker, fell 0.44 percent, and POSCO, the No. 1 steelmaker, declined 0.58 percent.Naver, the country's top Internet portal operator, lost 0.26 percent, while Hyu
Sept. 1, 2017
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Credit card firms urged to cut costs, offer new payment services
South Korea's top financial regulator on Friday urged credit card firms to cut marketing spending and provide safer and more convenient payment services. Choi Jong-ku, chairman of the Financial Services Commission, made the remark at a meeting with top executives of credit card companies as the industry has been under pressure over competition with online payment services and a cut in credit card processing fees for small merchants. Choi said credit card firms "need to revamp their high-cos
Sept. 1, 2017
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Banks' loan delinquency rate edges up in July
The delinquency rate of South Korean banks' won-denominated loans edged up in July, due to a slight rise in people who could not pay off their debts, government data showed Friday. The rate for bank loans more than 30 days overdue stood at 0.48 percent at the end of July, up 0.05 percentage point from a month earlier, according to the data by the Financial Supervisory Service.Compared to a year ago, however, the rate was down 0.3 percentage point, it said. "In July, newly delinquent l
Sept. 1, 2017
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Seoul stocks open higher on US gains
South Korean stocks opened slightly higher Friday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index rose 5.97 points, or 0.25 percent, to 2,369.16 in the first 15 minutes of trading.Market kingpin Samsung Electronics was up 0.60 percent, while SK hynix, a major chipmaker, fell 0.15 percent.Hyundai Motor, the No. 1 automaker, opened flat, while AmorePacific, the country's top cosmetics maker, advanced 0.69 percent.The local currency was trading at 1
Sept. 1, 2017
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K-Bank posts loss of W40.5b in H1
Internet-only bank K-Bank said Thursday it posted a net loss of 40.5 billion won ($35.9 million) in the first-half of this year, hit by a jump in spending as it launched operations in April. K-Bank said it attracted deposits worth 643 billion won and made loans worth 600.3 trillion won as of the end of June. K-Bank, which is led by KT Corp., the nation's biggest fixed-line Internet operator, spent about 90 billion won in setting up infrastructure for its Internet banking system, the lender
Aug. 31, 2017
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Seoul stocks down on foreign selling
South Korean stocks finished lower Thursday, as foreign investors extended their selling binge into the fifth day. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 9.1 points, or 0.38 percent, to close at 2,363.19.Trade volume was a moderate 256 million shares worth 5.12 trillion won ($4.54 billion), with losers outnumbering gainers 442 to 329.The local stock market opened higher as market sentiment was boosted by overnight gains on Wall Street bu
Aug. 31, 2017
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Regulator to consider adjusting banks' loan-to-deposit ratio to curb household lending
South Korea's financial regulator said Thursday it will consider adjusting banks' loan-to-deposit ratio requirement to help slow the growth of household lending. The idea was one of the topics being discussed at a meeting of government officials earlier in the day to revamp regulations on capital markets. The meeting was led by Kim Yong-beom, vice chairman of the Financial Services Commission.In a statement, the FSC said it "will review the feasibility of changing the weight of the househol
Aug. 31, 2017
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Korean stocks down late Thursday morning on foreign selling
South Korean stocks traded slightly lower Thursday morning as foreign investors are set to extend their selling to a fifth straight day.The benchmark Korea Composite Stock Price Index shed 7.88 points, or 0.33 percent, to 2,364.40 as of 11:15 a.m.Market heavyweights traded mixed, with market kingpin Samsung Electronics up 0.48 percent. SK hynix, a major chipmaker, rose 0.15 percent, and POSCO, the No. 1 steelmaker, gained 1.93 percent.In contrast, Naver, the country's top Internet portal operato
Aug. 31, 2017
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Corporate direct financing edges up in July
South Korean companies' equity and debt sales edged up on-month in July due mainly to a rise in stock issuance, government data showed Thursday. Local companies raised 14.4 trillion won ($12.8 billion) by selling stocks and bonds last month, compared with 14.3 trillion won in June, according to the data from the Financial Supervisory Service. Stock sales, including 10 initial public offerings, reached 1.27 trillion won in July, up 88.8 percent from the previous month. "A total of ten c
Aug. 31, 2017