Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Mirae Asset Global Investments tops TDF market share
Mirae Asset Global Investments has gobbled up nearly half of target-date fund market share, recording 3.5 trillion won ($2.84 billion) under management as of the end of 2022. TDF refers to an investment scheme where a portfolio’s asset allocation mix automatically rebalances throughout an account holder’s lifecycle to make it less prone to volatility as the target date draws near. Analysts attributed Mirae Asset's top position to the group's chairman, Park Hyun-joo, who has
Jan. 25, 2023
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MBK-Unison consortium seeks to acquire Osstem Implant
Private equity funds Unison Capital Korea and MBK Partners have joined hands to take over Osstem Implant, the nation’s largest dental manufacturer, according to the companies on Wednesday. Osstem Implant announced that UCK and MBK Partners will go for a tender offer through special purpose company Dentistry Investment, buying off a sizeable stake in the company for the next month at 190,000 won ($154) per share, up almost 17 percent from 162,500 won from the previous trading day. UCK is a
Jan. 25, 2023
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Seoul stocks open sharply higher on tech gains
Seoul stocks got off to a strong start Wednesday as investors bet the US Federal Reserve will go easy on its aggressive monetary tightening. The benchmark Korea Composite Stock Price Index added 28.09 points, or 1.17 percent, to 2423.35 in the first 15 minutes of trading. Major indexes on Wall Street closed mixed overnight, while chipmakers, such as AMD and Qualcomm, sharply rose on hope for better business performance down the road. Investors are also keeping a close watch on the Fed's nex
Jan. 25, 2023
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Seoul shares open higher on tech gains
South Korean stocks opened marginally higher Friday as gains in tech blue-chips offset concerns over a recession overshadowing the US markets. The benchmark Korea Composite Stock Price Index rose 5.23 points, or 0.22 percent, to 2,385.57 in the first 15 minutes of trading. The local stock market opened higher, bucking a decline on Wall Street amid uncertainty over the direction of the Federal Reserve for interest rate hikes in the coming months. In Seoul, market bellwether Samsung Electronics ga
Jan. 20, 2023
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Seoul shares up on foreign buying, Samsung rise
South Korean stocks snapped the two-day losing streak to close higher Thursday as foreigners went into buying mode despite worries over a recession reignited by weak US economic data, analysts said. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 12.02 points, or 0.51 percent, to close at 2,380.34. Trading volume was moderate at 364 million shares worth 5.36 trillion won ($4.34 billion) with gainers outnumbering decliners 473 to 362. "
Jan. 19, 2023
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Mirae Asset buoyed by upbeat overseas earnings
Mirae Asset Global Investments stands strong in the global financial market, despite a challenging economic environment. As of end-2022, Mirae Asset Global Investments' assets under management had reached 248 trillion won ($200 billion). According to the firm, 40 percent of its total assets, or 103 trillion won, is being managed overseas, surpassing the 102 trillion won mark set in end-2021. The firm's overseas business generated a net profit of 747 billion won in the third quarter of
Jan. 19, 2023
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Seoul shares open lower on renewed recession woes
South Korean stocks got off to a weak start Thursday, as the latest US economic data reignited fears of a recession. The benchmark Korea Composite Stock Price Index lost 2.89 points, or 0.12 percent, to 2,365.43 in the first 15 minutes of trading. US retail sales and wholesale prices fell more than expected in December, according to its government data released Wednesday Production at factories also slid more than expected, sending major US stock indexes sharply lower. Market sentiment was hurt
Jan. 19, 2023
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Seoul shares fall for second day amid earnings woes
South Korean stocks closed lower for the second straight day Wednesday, as investors were cautious to make risky bets ahead of the earnings season set to kick off next week. The local currency inched up against the US dollar. The benchmark Korea Composite Stock Price Index lost 11.07 points, or 0.47 percent, to 2,368.32. Trading volume was moderate at 528.3 million shares worth 5.43 trillion won ($4.38 billion) with decliners outpacing gainers 548 to 296. "Anticipation over the fourth-quart
Jan. 18, 2023
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Seoul shares open lower amid earnings concerns
South Korean stocks opened lower Wednesday, as concerns over corporate earnings, set to be released starting next week, weighed on investor sentiment. The benchmark Korea Composite Stock Price Index lost 15.37 points, or 0.65 percent, to trade at 2,364.02 in the first 15 minutes of trading. Companies are expected to announce their fourth-quarter earnings results beginning next week, with the market consensus leaning toward lackluster performances in some sectors. Tech heavyweights and financial
Jan. 18, 2023
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Seoul shares snap nine-day rise on profit-taking; won declines
South Korean stocks snapped their nine-day winning streak Tuesday, as investors took a breather from recent rallies and went on a profit-taking dive, analysts said. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index retreated 20.47 points, or 0.85 percent, to finish at 2,379.39. Trading volume was moderate at 529.4 million shares worth 6.2 trillion won ($5.04 billion), with decliners outnumbering gainers 618 to 250. "Investors opted to make a prof
Jan. 17, 2023
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Seoul shares open slightly higher ahead of earnings season
South Korean stocks opened marginally higher Tuesday, as investors took a breather from recent rallies ahead of the earnings reports. The benchmark Korea Composite Stock Price Index gained 3.22 points, or 0.13 percent, to trade at 2,403.08 in the first 15 minutes of trading. After opening higher, the main index had briefly turned lower before reverting to the green, in line with analysts' prediction that trading will likely remain choppy for the day. Large-cap tech and auto stocks gathered
Jan. 17, 2023
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Seoul shares extend winning streak to ninth day on eased US inflation outlook
South Korean stocks closed 0.58 percent higher Monday, extending their rally to a ninth session, as eased US inflation outlook boosted investor appetite for risky assets ahead of the earnings season. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 13.77 points to close at 2,399.86. Trading volume was moderate at 509.6 million shares worth 6.46 trillion won ($5.23 billion), with gainers outpacing decliners 499 to 350. "US stocks closed
Jan. 16, 2023
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Seoul shares open higher on eased US inflation woes
South Korean stocks opened higher Monday, following the gains on Wall Street last week amid eased inflation in the United States that raised hopes for the Federal Reserve to slow its interest rate hikes. The benchmark Korea Composite Stock Price Index advanced 7.36 points, or 0.31 percent, to 2,393.45 in the first 15 minutes of trading. All major US stock indexes closed higher Friday, with the S&P 500 and tech-rich Nasdaq hitting the highest level in a month, buoyed by expectations the Fed c
Jan. 16, 2023
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Seoul shares open higher ahead of BOK rate decision
Seoul shares opened higher Friday as investors await a rate hike decision by the Bank of Korea later in the morning. The benchmark Korea Composite Stock Price Index had added 15.47 points, or 0.65 percent, to 2,380.57 as of 9:15 a.m. The central bank is widely expected to raise its policy rate by 25 basis points to 3.5 percent as part of efforts to tame inflation. In Seoul, most large cap shares got off to a solid start. Market bellwether Samsung Electronics inched up 0.33 percent, while SK hyni
Jan. 13, 2023
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Seoul stocks up for seventh day on hopes for US inflation slowdown
South Korean stocks extended their winning streak to a seventh session on Thursday, largely on anticipation of slower inflation in the United States. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index closed up 5.57 points, or 0.24 percent, at 2,365.1 points. Trading volume was moderate at about 570 million shares worth some 7.7 trillion won ($6.2 billion), with gainers outnumbering losers 494 to 365. Foreigners bought a net 484 billion won, while institut
Jan. 12, 2023
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Saudi Arabia bets big on Hallyu with W1.2tr Kakao investment
Saudi Arabia’s state fund decided to join in 1.2 trillion won ($964 million) investment in Kakao Entertainment, doubling down on its aggressive bet on the burgeoning Korean content industry. The company, the entertainment arm of Kakao Corp., said it has raised 600 billion won in financing by issuing new shares through third-party allotment each to two global state funds -- Saudi Arabia’s Public Investment Fund and the Government of Singapore Investment Corporation. The capital inject
Jan. 12, 2023
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Seoul stocks open higher on hopes for slowdown in US inflation
South Korean stocks opened higher Thursday, taking a cue from overnight Wall Street gains on anticipation of slower inflation in the United States. The benchmark Korea Composite Stock Price Index had increased 6.24 points, or 0.26 percent, to 2,365.77 as of 9:15 a.m. Overnight, the tech-heavy Nasdaq composite added 1.76 percent, and the Dow Jones Industrial Average advanced 0.8 percent, amid expectations that slower growth in the December consumer price index, a key gauge for inflation, could pr
Jan. 12, 2023
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Seoul stocks up for sixth day ahead of US inflation data
Seoul shares ended higher Wednesday, extending their winning streak to a sixth day, with investors awaiting the release of the new US consumer price index for clues on the future of the Federal Reserve's monetary policy. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 8.22 points, or 0.35 percent, to close at 2,359.53 points. Trading volume was moderate at 359.99 million shares worth some 6.2 trillion won ($4.97 billion), with gainers outnumb
Jan. 11, 2023
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[Newsmaker] After 'giant' interest rate hikes, are savers better off?
When a small provincial branch of NongHyup Bank offered an online-exclusive installment savings plan with an annual interest of 8.2 percent in November last year, the news spread like wildfire among savvy savers. It sold like lottery tickets. Within hours, the bank sold 900 billion won ($707.8 million) of saving products, which was more than five times the size of the branch's total assets of 167 billion won. The problem was that the rural bank just wanted to attract just 10 billion won of fu
Jan. 11, 2023
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Seoul stocks open higher ahead of US inflation data
Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, as investors expect the upcoming US consumer price index may provide signs of a slowdown in inflation. The benchmark Korea Composite Stock Price Index rose 15.24 points, or 0.65 percent, to 2,366.55 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average moved up 0.6 percent to 33,704.1 points and the tech-heavy Nasdaq Composite climbed 1 percent to 10,742.63. If Thursday's US inflation da
Jan. 11, 2023