Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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KB, KCCI join hands to offer special loans to SMEs
KB Financial Group has signed a memorandum of understanding with the Korea Chamber of Commerce and Industry jointly to provide special loans for small and medium-sized enterprises making environmental, social and corporate governance efforts. KB Financial Group Vice Chairman Yang Jong-hee and Woo Tae-hee, executive vice chairman of the KCCI, gathered at the KCCI headquarters in Seoul on Thursday to sign the memorandum. "Based on this MOU, KB Financial Group plans to provide various and ex
March 16, 2023
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Seoul stocks open lower on Credit Suisse rout
Seoul stocks opened sharply lower Thursday on worries that global investment bank Credit Suisse's fiasco may spread to other financial institutions. The benchmark Korea Composite Stock Price Index shed 24.03 points, or 1.01 percent, to 2,355.69 points in the first 15 minutes of trading. Investors remained worried that Swiss-based Credit Suisse, hit by scandals and losing confidence from investors, may face further uncertainties down the road. On Wednesday, Seoul stocks rebounded from the af
March 16, 2023
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Seoul stocks open higher on eased US banking, inflation jitters
South Korean stocks opened higher Wednesday as concerns eased over the collapse of US banks, which jolted the global financial market this week. The benchmark Korea Composite Stock Price Index rose 29.14 points, or 1.24 percent, to 2,378.11 points in the first 15 minutes of trading. On Tuesday, the key stock index closed down nearly 3 percent, the biggest daily loss this year, amid lingering uncertainties about the fallout from the collapse of two US banks. US stocks also rebounded from their tr
March 15, 2023
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Seoul stocks open sharply lower on SVB fallout woes
Seoul stocks opened sharply lower Tuesday as investors weigh the fallout from the collapse of two US banks and uncertainties over the Federal Reserve's monetary tightening. The benchmark Korea Composite Stock Price Index shed 36.51 points, or 1.51 percent, to 2,374.09 in the first 15 minutes of trading. The failures of Silicon Valley Bank, the largest shutdown of a US bank since the 2008 financial crisis, and the New York-based Signature Bank fanned sell-offs by foreign and institutional in
March 14, 2023
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[K-Financiers] Mastern aims to broaden US portfolio
This is the second installment of a series of interviews on chiefs who run overseas units of Korean asset management, banking and securities companies, examining their key strategies for global expansion. -- Ed. Mastern America, the US arm of Mastern Investment Management, plans to open up its business to individual investors to tackle new markets in real estate investment. Though real estate investment has conventionally been more focused on institutional investors, Joseph Oh, CEO of Mastern
March 13, 2023
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Seoul stocks open tad lower in wake of US bank failure
Seoul stocks opened slightly lower Monday, as investors brace for the fallout from the Silicon Valley Bank's collapse amid woes over the Federal Reserve's monetary tightening. The benchmark Korea Composite Stock Price Index shed 3.79 points, or 0.16 percent, to 2,390.8 points in the first 15 minutes of trading. The market got off to a lackluster start after the Dow Jones Industrial Average closed down 1.07 percent Friday, with the tech-laden Nasdaq Composite declining 1.76 percent. Las
March 13, 2023
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Kakao to take control over SM
The heated competition to take over leading K-pop agency SM Entertainment seems to have come to a sudden, amicable halt, as IT giant Kakao is set to seize control of the label while its rival Hybe, the K-pop powerhouse behind global sensation BTS, has decided to drop its bid with future cooperation in mind. “Hybe assessed that the market is showing signs of overheating, following the rivalry with Kakao and Kakao Entertainment,” Hybe said through an official statement on Sunday. &ldqu
March 12, 2023
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Seoul stocks open sharply lower on Wall Street losses
Seoul stocks opened lower Friday, following overnight Wall Street losses amid growing fears over faster rate hikes by the Federal Reserve. The benchmark Korea Composite Stock Price Index shed 25.35 points, or 1.05 percent, to 2,393.74 in the first 15 minutes of trading. Overnight, Wall Street closed sharply down after jobless claims showed that the US labor market is still resilient, casting uncertainty over the Federal Reserve's rate hike path. The S&P fell 1.85 percent, the Dow Jones
March 10, 2023
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Seoul stocks down for second day on foreign sell-off, rate hike woes
Seoul stocks closed lower for a second straight session Thursday on heavy sell-offs by foreign investors and renewed fears the Federal Reserve will accelerate its pace of rate increases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index closed down 12.82 points, or 0.53 percent, to 2,419.09. Trading volume was moderate at 465.3 million shares worth 10.2 trillion ($7.7 billion), with decliners outnumbering gainers 478 to 396. The market got off to a strong
March 9, 2023
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Seoul stocks open higher amid rate hike woes
Seoul stocks opened higher Thursday amid woes over faster rate hikes by the Federal Reserve. The benchmark Korea Composite Stock Price Index added 7.79 points, or 0.32 percent, to 2,439.7 in the first 16 minutes of trading. After his hawkish stance a day before, Fed Chair Jerome Powell said Wednesday that no decision has been made on the pace of the Fed's rate hikes. US stocks wavered, with Wall Street's three main stock indexes closing mixed, as traders tried to assess Powell's c
March 9, 2023
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Seoul stocks open sharply lower on Fed chief's hawkish comments
South Korean stocks opened sharply lower Wednesday on renewed fears over further sharp rate hikes after the Fed chief's hawkish comments. The benchmark Korea Composite Stock Price Index was down 28.76 points, or 1.17 percent, to 2,434.59 in the first 15 minutes of trading. Federal Reserve Chair Jerome Powell cautioned Tuesday that "The ultimate level of interest rates is likely to be higher than previously anticipated," considering that the latest economic data suggests inflation
March 8, 2023
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[K-Financiers] KB seeks firmer footing in Indonesia
This is the first installment of a series of interviews on chiefs who run overseas units of Korean asset management, banking and securities companies, examining their key strategies for global footprint expansion. -- Ed. KB Valbury Sekuritas, an Indonesian brokerage arm of the Korean banking giant KB Financial Group, seeks to seize opportunities in the fast-developing country by arming itself with digital innovation and integrated financial services. KB Financial Group has set its eyes on Indo
March 7, 2023
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Mastern to expand middle market business in US
Mastern America, the US arm of Mastern Investment Management, said Tuesday it has signed a strategic alliance agreement with New York-based property tech firm Koriny to expand its presence in US middle market properties. Under the partnership, Mastern hopes to offer investors a chance to invest in the US middle market, which refers to a market for office, retail, industrial properties with a market value below about 100 billion won ($77 million). Koriny, which has its Korean office in Yeouido, w
March 7, 2023
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Seoul stocks open lower on interest rate hike jitters
South Korean stocks opened lower Tuesday, trailing behind lackluster trading on Wall Street, as investors brace for Federal Reserve Chair Jerome Powell's testimony this week. The benchmark Korea Composite Stock Price Index was down 1.9 points, or 0.08 percent, to 2,460.72 points in the first 15 minutes of trading. Federal Reserve Bank of San Francisco President Mary Daly said Saturday that "there is more work to do" in the Fed's ongoing fight against inflation, suggesting t
March 7, 2023
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Seoul shares close over 1% higher on tech gains
Seoul stocks closed over 1 percent higher Monday to extend their winning streak to a fourth day on advances in chips, batteries and tech, as the US Federal Reserve may slow down its monetary tightening. The local currency rose against the US dollar for the fourth session. The benchmark Korea Composite Stock Price Index rose 30.55 points, or 1.26 percent, to a close at 2,462.62 points. Trading volume was moderate at 411 million shares worth 9.63 trillion won ($7.4 billion), with losers outnumberi
March 6, 2023
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S. Korean stocks opens higher amid lingering rate hike woes
South Korean stocks opened a tad higher Monday as investors wait for the Federal Reserve chief's remarks on the US economy and clues on future monetary policy. The benchmark Korea Composite Stock Price Index rose 9.63 points, or 0.4 percent, to 2,441.7 in the first 15 minutes of trading. US stocks had ended the week on a higher note on speculations the Fed could slow down the pace of rate hikes. All three major indexes on Wall Street closed over 1 percent higher last week. Investors are kee
March 6, 2023
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Seoul shares rise for third day amid eased rate hike worries
South Korean stocks closed marginally higher Friday, on growing hopes that the US Federal Reserve could go for smaller interest rate hikes despite data showing a resilient economy. The local currency gained sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 4.22 points, or 0.17 percent, to finish at 2,432.07. Trading volume was moderate at 363.8 million shares worth 7.73 trillion won ($5.93 billion), with gainers outnumbering decliners 467 to 410. Federal Reserv
March 3, 2023
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FSC to expand information disclosure on banks' rate differentials
South Korea's financial regulator said Friday it will expand the disclosure of information on loan-deposit rate differences as part of efforts to promote competition in the banking sector amid criticism that it has been bent on making profits from the "interest business" without diversifying income sources. Banks have been providing information on deposit-loan spreads on new lending and savings since mid-2022 in a bid to enhance transparency in their operation and provide customer
March 3, 2023
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Seoul shares open higher on hopes of pause in Fed rate hikes
South Korean stocks opened marginally higher Friday, on growing hopes that the US Federal Reserve may not raise the interest rates as aggressively as expected. The benchmark Korea Composite Stock Price Index rose 5.75 points, or 0.24 percent, to 2,433.6 in the first 15 minutes of trading. Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday that he believes the Fed should go "steady" on interest rate hikes, a dovish remark from someone known as one of the most hawkish
March 3, 2023
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Seoul shares rise on China recovery hope
South Korean stocks closed higher Thursday, snapping a two-day losing streak, as data suggesting China's economic recovery from the COVID-19-driven slowdown helped spur investor appetite for risky assets. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 15 points, or 0.62 percent, to close at 2,427.85. Trading volume was moderate at 422.3 million shares worth 9.48 trillion won ($7.3 billion), with gainers outpacing decliners 495 to 389.
March 2, 2023