Most Popular
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Trump wins US election, foreshadows policy shift
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Allies face test with return of Trump’s transactional diplomacy
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North Korean leader may seek another summit with Trump, but chances for deal seen as slimmer
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Yoon congratulates Trump
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South Korean won tumbles after Trump wins US presidential election
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Korea on alert over reshaped global economy during Trump's 2nd term
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‘Trump may seek surprise NK deal at expense of Seoul’
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Yoon apologizes but denies wife's role in state affairs
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Poster of Kim Jong-un behind bars launches S. Korean groups' anti-NK campaign in Geneva
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Korean auto, battery firms buckle up for second Trump term
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Kospi ceilingless for 3 consecutive days
The first-tier stock market in South Korea remained ceilingless for three consecutive days Wednesday. The benchmark Korea Composite Stock Price Index closed at 2,317.34, up 0.24 percent compared to Tuesday closing at a record-high 2,311.74, despite losses in gains from early morning trade.Opening at 2,318.86, the Kospi peaked at 2,322.54 in about 10 minutes -- the highest in history. The index hovered at around 2,315 since late morning trade. The second-tier Korean Securities Dealers Automated Q
May 24, 2017
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Seoul stocks hit fresh record high on Wall Street rally
South Korean shares extended their winning streak to a fourth day to end at a fresh record high Wednesday, taking a cue from overnight gains on Wall Street, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index added 5.66 points, or 0.24 percent, to reach an all-time high of 2,317.34. Trade volume was slim at 380.45 million shares worth 5.35 trillion won ($4.8 billion), with advancers outnumbering losers 483 to 323.Institutions bought a net 75.1
May 24, 2017
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Finance Ministry poised to propose W10tr supplementary budget next month
The Finance Ministry said Wednesday that the government will release a road map by the end of June on how to create jobs in the public sector, alluding to a 10 trillion won ($8.89 billion) supplementary budget proposal by President Moon Jae-in.In a report to the State Affairs Planning Advisory Committee, Moon’s de facto transition team, the ministry said that the government would speed up the preparation for the extra budget plan to be presented to the National Assembly by next month. 
May 24, 2017
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14 offenders fined W2.4b for illegal trading of Hanmi Pharm stocks
The South Korean financial regulator has fined 14 individuals a combined 2.4 billion won ($2.1 million) for using undisclosed information to avoid losses through stock trading of Hanmi Pharmaceutical, a leading local drug firm, in September last year. The Financial Services Commission said its securities and futures commission made the decision Wednesday to impose massive fines on individuals for disrupting market order. This included the largest fine to be imposed on an individual, reaching as
May 24, 2017
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Korean shares up in late morning trade
South Korean shares traded higher late Wednesday morning, set to close at a fresh record high, as individual buyers scooped up market heavyweights amid upward momentum, analysts said.The benchmark Korea Composite Stock Price Index gained 4.52 points, or 0.2 percent, to 2,316.26 as of 11:20 a.m.Large caps on the Seoul bourse were largely mixed.Market behemoth Samsung Electronics remained unchanged after opening higher as investors tried to cash in recent gains. Its smaller rival LG Electronics, m
May 24, 2017
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Seoul shares open higher on Wall Street gains
South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 9.28 points, or 0.4 percent, to 2,321.02 in the first 15 minutes of trading.On Tuesday, US stocks rose to post a four-day winning streak.The Dow Jones industrial average was up 0.21 percent, to 20,937.91 and the Nasdaq Composite Index gained 0.08 percent, to 6,138.71. Large caps on the Seoul bourse were mostly bullish, with tech and medical sha
May 24, 2017
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Koreans' overseas stock investment jumps 40% this year
South Koreans' overseas stock investment has jumped nearly 40 percent in 2017 from a year ago, data showed Wednesday, as retail investors apparently turn to foreign markets amid a domestic rally dominated by large caps.According to the data by the Korea Securities Depository, local investors' direct transactions of stocks traded overseas came to $6.32 billion as of Friday, up 39.9 percent from the same period a year earlier.The balance of foreign-traded stocks deposited at the clearing agency th
May 24, 2017
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[Newsmaker] Kospi cruises past 2,300, despite foreign selling
South Korea‘s main bourse extended record-setting rallies for the second consecutive day Tuesday on robust institutional buying that offset foreign selling.The benchmark Korea Composite Stock Price Index closed at 2,311.74, up 0.33 percent compared to Monday, when it reached a previous all-time high at 2,304.03.The Kospi showed significant surge in the late morning trade. At around 11 a.m., the market index began to shoot up to around 2,320. The index hit intraday high of 2,326.57 in the a
May 23, 2017
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BOK forecast to freeze key rate for May: poll
South Korea's central bank is tipped to hold its benchmark interest rate steady for May amid expectations of a possible US rate hike and a recovery in the local economy, a poll showed Tuesday.The survey of 200 bond market experts showed that all of the respondents forecast the Bank of Korea to freeze the key rate at its monthly rate-setting meeting slated for Thursday. The survey was taken by the Korea Financial Investment Association from May 10-15. The BOK left its policy rate unchanged at an
May 23, 2017
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Household debt growth slows in Q1
Growth of South Korea’s household debt slowed in the first quarter but its total balance still remained at a high level, data by the Bank of Korea showed Tuesday. Household credit grew by 17.1 trillion won ($15.2 billion), or 11.1 percent on-year, in the first quarter, slowing in pace from a 20.6 trillion won gain in the same period a year earlier. Among the 17.1 trillion won, 8.4 trillion won loans were extended by banks, credit unions and mutual savings banks. The rest came from ins
May 23, 2017
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Korean shares up in late morning trading
South Korean stocks traded higher on late Tuesday morning led by gains in top market cap Samsung Electronics and other market heavyweights.The benchmark Korea Composite Stock Price Index climbed 16.20 points, or 0.70 percent, to 2,319.48 as of 11:20 a.m.The index remained in positive terrain after opening on an upbeat note, apparently tracking overnight gains on Wall Street. In New York on Monday (local time), the Dow Jones Industrial Average closed up 0.43 percent at 20,894.32 points
May 23, 2017
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Korea to hold annual meeting with S&P
Global credit appraiser Standard & Poor's will have its annual meeting with South Korean policymakers this week to assess the nation's overall economic situation and credit status, the finance ministry said Tuesday.A delegation led by Kim Eng Tan, a senior director for Asia Pacific, will be in the country for the four-day meeting that will start on Tuesday, according to the Ministry of Strategy and Finance. During the stay, the team will meet with policymakers from government agencies, inclu
May 23, 2017
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Seoul shares open higher on tech shares
South Korean stocks opened higher on Tuesday, largely helped by bullish tech large caps, analysts said.The benchmark Korea Composite Stock Price Index added 3.18 points, or 0.14 percent, to reach 2,307.21 in the first 15 minutes of trading. Big tech shares pushed up the market.Market behemoth Samsung Electronics gained 0.49 percent, with its smaller rival LG Electronics adding 0.61 percent to hit a record high. Top steelmaker Posco increased 0.53 percent.The local currency was trading at 1,
May 23, 2017
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Korea ranks No. 1 in mobile finance usage in Asia-Pacific region: report
South Korea has trumped other Asian Pacific countries in terms of mobile financial service usage, a report showed Monday.Users in South Korea had over 7 billion sessions in banking apps in 2016, which was nearly four times as many compared to Australians, according to the latest report by online-based global mobile app tracker App Annie. The report was based on the screening carried out in 13 Asian Pacific countries. The report analyzed how mobile devices are transforming banking and financial s
May 22, 2017
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Seoul stocks hit 2,300 roof, sign of economic recovery: analysts
South Korean shares ended sharply higher Monday to breach the 2,300 point mark for the first time ever on renewed hopes for improved economic recovery following the launch of the new Moon Jae-in administration, analysts said.The benchmark Korea Composite Stock Price Index added 15.55 points, or 0.68 percent, to 2,304.03. The Kospi had previously hit intra-day highs exceeding the 2,300 mark three times this year, but backtracked before the end of trading. "Consumer sentiment has improve
May 22, 2017
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Regulators to pave way for 4th credit appraiser
Financial regulators in South Korea said Monday they were seeking the entry of a fourth credit appraiser into the market, to improve credit rating market confidence and reduce collusive ties between rating agencies and the firms they evaluate.The Financial Services Commission and the Financial Supervisory Service in a release Monday said the third-party committee will hold its first meeting next week, in order to evaluate the credit rating market. The committee, launched in December 2016 compris
May 22, 2017
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Banking federation embraces 2nd internet-only bank
Kakao Bank, the second online-only bank in the country set to start its services in June, has joined the Korea Federation of Banks.The KFB said Monday that Kakao Bank had become the 22nd banking institution under the federation Friday. All commercial banks in operation in South Korea are members of the KFB, which gathers views from the banking sector and submits them to the parliament or financial regulators as a whole.In January, K bank entered the association as the country’s first onlin
May 22, 2017
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Korean stocks reach record high of 2,304 fueled by foreign buying
South Korean shares breached the 2,300-point mark for the first time ever as foreign investors scooped up major tech stocks amid sound corporate earnings, bucking overnight gains on Wall Street, analysts said. The Korean won sharply rose against the US dollar.The benchmark Korea Composite Stock Price Index added 15.55 points, or 0.68 percent, to an all-time high of 2,304.03.Trade volume was slim at 334.55 million shares worth 5.74 trillion won ($5.04 billion), with advancers outnumbering losers
May 22, 2017
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Finance chief nominee wants to raise taxes, create jobs
Following his nomination by President Moon Jae-in on Sunday as deputy prime minister for the economy and finance minister, Kim Dong-yeon said his main objectives will be to revitalize the country’s lagging economy by increasing the effective tax rate and adding more jobs.“I think the next five years will be our last chance to save the economy,” Kim said during a press conference at the Government Complex in Gwacheon on Sunday.“In the short term, we will concentrate on int
May 22, 2017
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[Photo News] BOK issues notes from Gangnam for the first time
May 22, 2017