Most Popular
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Actor Song Jae-rim dies at 39
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'Are you a T?' is a new put-down in S. Korea
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Bitcoin hits record in Korea, even without ‘kimchi premium’
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Trump sours K-food outlook in US
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Korean study finds 'obese' BMI may actually be healthiest
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Boston Dynamics robot dog joins Trump’s security detail
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Hyundai’s Atlas robot takes the spotlight as Tesla's Optimus stumbles
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[Rising virtuosos] From Pororo to Paganini: 13-year-old violinist Lee Hyeon-jeong’s journey to the world stage
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Leaked cables reveal Kim Jong-un’s orders to oppose human rights pressure at UN
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Who are the K-pop stars taking Suneung this year?
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Korean banks’ financial health improves
The capital adequacy ratio of banks and financial groups in South Korea improved in the first quarter of 2017 on the back of eased risk-weighted assets, data showed Wednesday.On average, based on the Bank for International Settlements, the capital requirement ratio of South Korea‘s 17 banks came to 15.14 percent, according to the Financial Supervisory Service. It inched up 0.33 percentage point compared to the end of 2016. The regulatory capital ratio is the percentage of a bank‘s ca
June 1, 2017
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Daily turnover of won-yuan direct trading dips through May
The average daily turnover of the South Korean won-Chinese yuan direct trading market in Seoul fell slightly in the first five months of the year from last year, government data showed Thursday.The daily trading volume in the Seoul won-yuan direct market reached $1.55 billion in the January-May period, down from last year's daily average turnover of $1.95 billion, according to the data compiled by the Ministry of Strategy and Finance, and the Bank of Korea. The turnover has been on a decline sin
June 1, 2017
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Seoul shares down on foreign, institutional selling
South Korean stocks traded lower late Thursday morning as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits.The benchmark Korea Composite Stock Price Index lost 3.99 points, or 0.17 percent, to 2,343.39 as of 11:20 a.m.Most large caps traded mixed with market kingpin Samsung Electronics inching down 0.27 percent after opening higher. SK hynix, a major chipmaker, also shed 1.05 percent.The state-run Korea Electric Power Corp., meanwhile, gained 3
June 1, 2017
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Stocks open lower on profit-taking
South Korean stocks opened lower on Thursday, as investors attempted to cash in recent gains, but top market cap Samsung Electronics continued to build up gains.The benchmark Korea Composite Stock Price Index added 3.6 points, or 0.15 percent, to 2,343.78 in the first 15 minutes of trading. Large-cap stocks were mixed across the board.Market kingpin Samsung Electronics was up 0.22 percent, continuing a two-day winning streak. Hyundai Motor, the No. 1 automaker, moved up
June 1, 2017
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Banks' Q1 capital ratio improves on reduced risky assets
South Korean banks saw their financial health improve slightly in the first-quarter of this year, helped by less exposure to risky assets, the financial regulator said Thursday. The average capital adequacy ratio of 17 commercial and state-run banks stood at 15.14 percent as of end-March, up 0.33 percentage point from the previous quarter, according to the Financial Supervisory Service. A key barometer of financial soundness, the ratio measures the proportion of a bank's capital to its risk-weig
June 1, 2017
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Board member says BOK should keep monetary easing policy
South Korea's central bank should maintain the current monetary easing policy to support growth, a member of the Bank of Korea's monetary policy board said Wednesday.Koh Seung-beom made the case during a luncheon meeting with reporters at the BOK headquarters in central Seoul, noting the recovery of domestic demand is not strong yet. He also said he does not believe a US rate hike could trigger any immediate foreign capital outflows from South Korea.His comments came six days after the BOK's mon
May 31, 2017
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[Monitor] Average W3.6tr traded via smartphone
The use and the amount of money traded via smartphone banking apps has continues to surge becoming a major transaction platform, the Bank of Korea’s data showed.As of the first quarter this year, an average of 94.12 million transactions were made through smartphone banking, up 7.3 percent from the previous quarter, accounting for up 61 percent of all internet banking.Daily transactions averaged 3.63 trillion won, up 8.3 percent from the previous quarter.As of the end of March, a total of 7
May 31, 2017
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Kosdaq logs record highs for 2 straight days
South Korea’s tech-heavy stock market hit this year’s record high for two consecutive days, topping the 650 mark for the first time in more than seven months on Wednesday. The benchmark Korean Securities Dealers Automated Quotations closed at 652.04, up 0.46 percent from the previous trading day Tuesday, when it closed at 649.06.The index for the second-tier market had not surpassed 650 mark since Oct. 21, 2016, when it came to 651.77. After reaching 643.68 on Jan. 6, the figure has
May 31, 2017
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Mirae Asset Daewoo denies plan to acquire SK Securities
Mirae Asset Daewoo on Wednesday denied recent reports that the company is considering taking over SK Securities. A report on the previous day said that the company would push forward several takeovers to expand its equities and develop itself into a mega investment bank. It also predicted that SK Securities is the leading candidate as there were rumors that Mirae Asset Daewoo Chairman Park Hyeon-joo had made a visit to the SK group recently.Such news had led to the jump in SK Securities’ s
May 31, 2017
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Lee Jung-hee to head Deloitte Anjin
Deloitte Anjin has named its new CEO Lee Jung-hee, who has been managing partner in Deloitte Tax group since 2010, the accounting firm said Wednesday.Lee will take the helm starting Thursday. The career accountant, known for his expertise as a corporate tax adviser for multinational companies, is expected to serve a 3-year term.Lee was nominated as a sole candidate for the chief executive in a committee Friday. The committee put it to a vote in favor Monday.Born in 1960, Lee became a certif
May 31, 2017
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KB Savings Bank to launch simplify sign-in service
KB Savings Bank will launch a simplified authorizing service next month, allowing users to access smartphone banking services without certificate verification or other security media.The service will enable customers who have downloaded KB Savings Bank’s smartphone application to open new bank accounts and utilize financial services with their personal identification numbers only. It can be used straight after a simple procedure of a non-face-to-face real name confirmation process as long
May 31, 2017
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Korean institutional investment into foreign stocks, bonds hits new high
Investment by South Korean institutional investors into foreign bonds and stocks hit a record high at the end of March this year, official data showed Wednesday. The data suggested that appetite by South Korean insurers, brokerages and asset management firms for riskier assets in foreign countries improved amid record-low interest rates at home. The total holdings of foreign bonds and stocks by South Korean institutional investors stood at $192.9 billion at the end of March, the Bank of Ko
May 31, 2017
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Seoul shares up in late morning trading
South Korean shares traded higher late Wednesday morning as foreign and institutional buyers scooped up big cap stocks amid a massive selling spree by individuals.The benchmark Korea Composite Stock Price Index added 9.42 points, or 0.4 percent, to 2,353.10 as of 11:20 a.m.The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.Top cap Samsung Electronics adva
May 31, 2017
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Seoul shares open tad lower on large-cap losses
South Korean stocks started marginally lower Wednesday mainly on the back of losses in top-listed firms, analysts said. The benchmark Korea Composite Stock Price Index inched down 3.55 points, or 0.15 percent, to trade at 2,340.13 in the first 15 minutes of trading.Top-cap Samsung Electronics edged down 0.09 percent, with chipmaker SK hynix sliding 1.22 percent.Medical and insurance shares, however, started in positive terrain, with Samsung BioLogics, a biopharmaceutical affiliate of Samsung Gro
May 31, 2017
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Samsung Asset Management launches RIF to meet Korean needs
Samsung Asset Management and Capital Group teamed up to launch Tuesday a set of retirement income funds, which they said are expected to “meet Korean retirement needs.” The RIFs mark the first pension funds in South Korea that allow retirees to withdraw money from the funds. The four types of pension schemes by the asset management arm under Korea’s largest conglomerate were based on the US financial services firm’s diversified investment portfolio. Income fund subs
May 30, 2017
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Seoul stocks down 0.39% on profit-taking
South Korean stocks ended slightly lower Tuesday as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 9.29 points, or 0.39 percent, to 2,343.68.Bae Sung-young, a market analyst at KB Securities Co., said institutions and foreign investors sold Samsung Electronics and other major technology stocks in an apparent profit-taking move.This, he said caused
May 30, 2017
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Non-performing loans decline as shipbuilding restructuring nears end
The volume of non-performing loans have fallen to pre-global financial crisis levels following the completion of the government’s large-scale restructuring of Korea’s ailing shipbuilding and shipping industries, according to the Financial Supervisory Service on Tuesday. The FSS announced that non-performing loans held by local banks reached 23.7 trillion won ($21.1 billion), or 1.38 percent, at the end of the first quarter, a 0.04 percentage point improvement compared to the end of l
May 30, 2017
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‘Kospi’s rally solely led by Samsung'
A significant surge by the nation’s major market index was entirely driven by Samsung Electronics, and without the tech giant’s contribution, the benchmark index could have fallen, a study showed Tuesday.According to the report by Korea Capital Market Institute, a private research center on the nation’s stock market, the Korea Composite Stock Price Index saw an increase of 211 points over a year solely led by Samsung Electronics’ stock price growth, which added 231 points
May 30, 2017
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Tighter rules for home loans to apply to all mutual savings institutions
The financial regulator said Tuesday it will apply tighter rules for mortgage loans to all mutual savings institutions starting next month, in the latest step to control fast-growing household debt. The tighter rules, which already have been applied to retail banks and other depository institutions, require borrowers to repay both interest and a part of principal until maturity. A total of 1,925 mutual savings institutions and credit units with assets below 100 billion won ($89 million) each wil
May 30, 2017
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Rates for household loans inch down in April
Bank lending rates on new household loans inched down in April and interest rates paid by banks on new deposits also fell, central bank data showed Tuesday.The average interest rates on fresh household loans extended by local banks came to 3.41 percent in April, down 0.02 percentage point from the previous month, according to the Bank of Korea. The BOK data came amid South Korea's efforts to tackle rising household debt. South Korea's household debt reached a record high of 1,359.7 trillion won
May 30, 2017