Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
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Seoul shares end higher on strong chip stocks
South Korean stocks snapped a two-day losing streak Thursday on strong performance by chip heavyweights after Nvidia's better-than-expected fourth-quarter earnings. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 10.96 points, or 0.41 percent, to close at 2,664.27. Trade volume was moderate at 445.3 million shares worth 10.1 trillion won ($7.6 billion), with decliners beating gainers 509 to 348. Foreigners and institutions scooped up loc
Feb. 22, 2024
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Korean 'crypto king' likely to be extradited to US
A court in Montenegro has ruled for the extradition of cryptocurrency entrepreneur Kwon Do-hyung, widely known as "crypto king" Do Kwon, to the United States, according to The Wall Street Journal. Despite Kwon's defense advocating for transfer to his home country of South Korea, the Montenegro court has rejected the plea. Both the US and South Korea have sought his extradition. Kwon's legal team now has a three-day window to challenge the decision, according to the court on Wednesday.
Feb. 22, 2024
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Seoul shares open higher on strong Nvidia results
South Korean stocks started a tad higher Thursday as chipmakers traded in positive territory on a strong earnings report from Nvidia overnight. The benchmark Korea Composite Stock Price Index gained 8.21 points, or 0.31 percent, to 2,661.52 in the first 15 minutes of trading. Wall Street stocks were mixed last night as the US central bank's minutes hinted at slower interest rate cuts. The Dow Jones Industrial Average finished 0.1 percent higher, but the tech-rich Nasdaq Composite Index fell
Feb. 22, 2024
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[Graphic News] Streamers’ total income surpasses 1 trillion won
The annual income declared by single-person media creators, such as YouTubers and internet broadcast hosts (BJs), was found to have exceeded 1 trillion won ($7.5 million) in South Korea. A total of 39,366 individuals reported their annual income as single-person media creators in 2022, with the total amount reaching 1.14 trillion won, according to the National Tax Service. The total income of 393 single-person media creators who were in the top 1 percent, was 333.3 billion won, accounting for 29
Feb. 22, 2024
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Seoul shares close lower ahead of FOMC minutes release
South Korean stocks finished lower Wednesday with investors waiting for the release of the minutes of the US Federal Open Market Committee's January meeting. The local currency rose against the US dollar. After starting marginally higher, the benchmark Korea Composite Stock Price Index lost 4.48 points, or 0.17 percent, to close at 2,653.31. Trade volume was moderate at 551.7 million shares worth 8.9 trillion won ($6.7 billion), with losers outnumbering winners 553 to 313. Foreigners and re
Feb. 21, 2024
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Toss Bank taps ex-DGB CFO as new CEO
Toss Bank, the internet-only banking arm of fintech firm Viva Republica, said Wednesday it has appointed Rhee Eun-mi, former chief financial officer of DGB Daegu Bank, as its new CEO. The bank’s CEO recommendation committee picked Rhee as the sole candidate for the next top leadership position in recognition of her deep understanding of the banking industry and excellence in making strategic decisions. “Rhee's achievements, organizational management capabilities, and insight b
Feb. 21, 2024
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Seoul shares open higher despite US losses
South Korean stocks started higher Wednesday on foreign and institutional buying despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index climbed 11.49 points, or 0.43 percent, to 2,669.28 in the first 15 minutes of trading. Overnight, the U.S. stock market lost ground on investors' profit-taking ahead of the earnings release of artificial intelligence chip leader Nvidia. Nvidia is expected to release strong fourth-quarter results later Wednesday thanks to co
Feb. 21, 2024
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Seoul shares close lower on profit-taking
South Korean stocks finished sharply lower Tuesday as investors locked in gains after a recent rally. The local currency also fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 22.47 points, or 0.84 percent, to close at 2,657.79, ending a two-day winning streak. On Monday, the index finished at 2,680.26, the highest closing price since May 31, 2022, when it was 2,685.9. Trade volume was heavy at 596.3 million shares worth 9.7 trillion won ($7.2 billion), with losers
Feb. 20, 2024
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Seoul shares open lower on profit-taking
South Korean stocks started lower Tuesday as investors hunted for profits following a recent rally. The benchmark Korea Composite Stock Price Index retreated 9.74 points, or 0.36 percent, to 2,670.52 in the first 15 minutes of trading. The main bourse soared more than 1 percent Friday and Monday on the back of strong foreign buying. Market heavyweights traded in negative territory across the board. No. 1 memory chipmaker Samsung Electronics fell 0.41 percent, and leading battery maker LG Energy
Feb. 20, 2024
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Seoul shares spike over 1% on foreign buying binge
South Korean stocks rose more than 1 percent higher for the second straight session Monday on the back of a foreign buying spree. The local currency slightly increased against the US greenback. The benchmark Korea Composite Stock Price Index added 31.5 points, or 1.19 percent, to close at 2,680.26, following a 1.34 percent jump Friday. Trade volume was slim at 413.7 million shares worth 9.6 trillion won ($7.2 billion), with gainers beating decliners 617 to 261. Foreigners were net buyers with 60
Feb. 19, 2024
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Seoul’s office rent shoots up in 2023: report
Office lease prices in Seoul marked a record-high increase last year backed by strong demand amid low vacancies, a report released by a real estate analytics firm showed Monday. Seoul's office lease market has been showing a strong performance, with rent rates being pushed up, a CBRE Korea report showed. The average face rent for Seoul offices posted the sharpest on-year growth of 8.8 percent in 2023, up 2.1 percentage points from the previous year’s 6.7 percent. Face rent is the amou
Feb. 19, 2024
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Seoul shares open higher on tech, auto gains
South Korean stocks got off to a strong start Monday led by gains from tech and auto shares. The benchmark Korea Composite Stock Price Index moved up 26.98 points, or 1.02 percent, to 2,675.74 in the first 15 minutes of trading. Market bellwether Samsung Electronics rose 0.82 percent, and major chipmaker SK hynix added 0.07 percent. Kia, the country's No. 2 carmaker, increased 1.73 percent, and its auto parts affiliate Hyundai Mobis jumped 3.25 percent. Top oil refiner SK Innovations climbe
Feb. 19, 2024
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English service enhanced for electronic disclosures
The Financial Supervisory Service announced Sunday an updated plan aimed at providing foreign investors with more English information on financial disclosures, as part of efforts to facilitate foreign investment in Korean companies. The initiative to provide English services commenced in January 2023 following a decision by three of the nation’s financial organizations -- the Financial Services Commission, the FSS and the Korea Exchange. As part of this initiative, the FSS began updating
Feb. 18, 2024
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Seoul shares end over 1% higher on reviving hope over Fed's rate cut
Seoul shares closed higher Friday, as investors placed their bets on a possible rate cut by the US Federal Reserve and US retail sales fell by a wider margin than expected. The Korean won fell against the US dollar. The benchmark Kospi added 34.96 points, or 1.34 percent, to close at 2,648.76. Trade volume was moderate at 584.7 million shares worth 10 trillion won ($7.5 billion), with decliners outnumbering gainers 627 to 249. Foreign investors were net buyers to the tune of 558.4 billion won, w
Feb. 16, 2024
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Seoul shares open higher on Wall Street gains
Seoul shares opened higher Friday, tracking overnight gains on Wall Street after the US retail sales fell by a wider margin than expected, reviving hopes over the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index gained 15.78 points, or 0.6 percent, to 2,629.58 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average move up 0.91 percent, with the tech-heavy Nasdaq climbing 0.3 percent. The rise came after the US retail sales for January fel
Feb. 16, 2024
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Is shareholder activism finally taking hold in South Korea?
South Korean companies are facing increasing shareholder activism with the government's recent push for improvements in corporate governance expected to fuel the trend, according to industry experts on Thursday. A report released Thursday by Diligent Market Intelligence, a solution from governance software provider Diligent, showed a record-high number of 77 companies headquartered in Korea were targeted by activist campaigns in 2023, outnumbering its economic peers such as Singapore and Ho
Feb. 15, 2024
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Seoul shares end lower on profit taking
Seoul shares closed lower Thursday as investors attempted to cash in recent gains. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.62 points, or 0.25 percent, to close at 2,613.80. Trade volume was moderate at 607.8 million shares worth 10.25 trillion won ($7.68 billion), with decliners outnumbering gainers 539 to 330. Foreigners and institutions sold stocks worth 14.8 billion won and 49.3 billion won, respectively, while individuals purchased
Feb. 15, 2024
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Korean stock market could duplicate Japan's bull run: Shinhan chief
Shinhan Financial Group Chairman Jin Ok-dong believes that undervalued Korean stocks including his banking group’s shares could gain impetus with the government’s strong drive with its upcoming market revamp program aimed at creating a new investment wave. With the Korean financial authorities set to put forward detailed schemes to iron out deep-seated low valuation of Korean stocks this month, listed companies and investors are paying keen attention to what would be included in th
Feb. 15, 2024
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Seoul shares open higher on US gains
Seoul shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index gained 14.7 points, or 0.56 percent, to 2,635.12 in the first 15 minutes of trading. Overnight, the US stock market gained ground after a sharp decline the previous day sparked by hotter-than-expected inflation data. Investors have been expecting the US Federal Reserve to start cutting interest rates this year amid hope for eased inflation. But January's consumer pri
Feb. 15, 2024
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Seoul shares snap 3-day winning session on hotter-than-expected US inflation data
Seoul shares snapped a three-session winning streak Wednesday as hotter-than-expected US inflation data for January cooled investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 29.22 points, or 1.1 percent, to close at 2,620.42. Trade volume was moderate at 534.17 million shares worth 9.93 trillion won ($7.4 billion), with decliners outnumbering gainers 509 to 378. Institutions sold a net 535.25 billion won worth of stocks, offsetting
Feb. 14, 2024