Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Immigrant woman stabbed to death by Korean husband
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Seoul’s bus union prepares for strike
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Corporate direct financing grows in November on expanded rights offering
Corporate direct financing in South Korea expanded in November thanks to an increase in rights offering on the stock markets, data showed Wednesday. Local companies raised a combined 10.22 trillion won ($8.05 billion) by selling stocks and bonds last month, up 16.3 percent from a month earlier, according to the data from the Financial Supervisory Service. Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks or other financial institutions
Dec. 28, 2022
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Yuanta shares on rollercoaster ride over rumors of buyout talks
Rumors about the possible sale of the Korean unit of Yuanta Securities, a Taiwanese investment bank, to Korean banking conglomerate Woori Financial Group have reemerged, causing the former’s stock price to spike by over 20 percent on Tuesday. Earlier in the day, a local media outlet reported that Yuanta Financial Holdings is in talks to sell its Korean unit to Woori Financial Group with the transaction expected to be closed early next year. The sale price was lowered from 1.5 trillion wo
Dec. 27, 2022
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Seoul stocks open higher amid recession woes
The benchmark Korea Composite Stock Price Index rose 17.51 points, or 0.76 percent, to 2,334.65 points in the first 15 minutes of trading. Investors have remained watchful over the US Fed's next policy direction as its Chair Jerome Powell recently reiterated the Fed will keep an aggressive monetary tightening mode for the time being despite eased inflation pressure. Wall Street was closed Monday for the Christmas holiday. In Seoul, large caps traded higher across the board. Market bellwet
Dec. 27, 2022
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Seoul stocks close slightly higher on institutional buying
South Korean stocks closed slightly higher Monday after a choppy session, backed by institutional buying. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 3.45 points, or 0.15 percent, to close at 2,317.14 points. Trading volume was relatively low at about 408 million shares worth some 5.1 trillion won ($4 billion), with the last trading session of 2022 slated for Thursday. Losers outnumbered gainers 483 to 375. Institutions bought a net 661 billio
Dec. 26, 2022
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Seoul stocks open tad lower on recession woes
South Korean stocks opened slightly lower Monday as investors took to the sidelines amid the recession woes. The benchmark Korea Composite Stock Price Index had slipped 1.68 points, or 0.07 percent, to 2,312.01 points as of 9:15 a.m. Stocks got off to another muted start, with the KOSPI retreating every session since Dec. 15, except for last Thursday, amid a pessimistic economic outlook for 2023 and monetary tightening moves in major economies. In Seoul, top cap Samsung Electronics traded flat,
Dec. 26, 2022
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Where do the superrich keep their money?
In Seoul’s Apgujeong in Gangnam-gu, home to many of Korea’s rich families, an elegant seven-story building draws the gaze of passersby. The eye-catching building is established by KB Financial Group to offer hyperpersonalized financial services to the wealthiest people in the country. This place goes well beyond what people usually expect of commercial banks. Instead of having to grab a queue ticket, customers are served with a cup of coffee a barista stationed in the building just b
Dec. 25, 2022
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Analyst reports going virtual
More brokerage firms are turning to new technologies such as virtual humans, artificial intelligence and short form video content to improve the accessibility of their analyst reports and appeal to a growing number of young investors. Earlier this month, Korea Investment & Securities rolled out a new virtual human called Han Ji-ah to promote its research reports. The character, developed to resemble new employees who entered the company this year, summarizes and explains research reports in
Dec. 25, 2022
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Seoul shares slump nearly 2% on rate hike woes
Seoul stocks retreated nearly 2 percent Friday amid expectations of further rate hikes in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index retreated 43.04 points, or 1.83 percent, to close at 2,313.69 points. Trading volume was moderate at about 360 million shares worth some 5.9 trillion won ($4.6 billion), with losers outnumbering gainers 796 to 98. Institutions bought a net 251 billion won, while foreigners sold 73 billion won and re
Dec. 23, 2022
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Seoul shares open sharply lower on US losses
Seoul stocks opened sharply lower Friday, tracking overnight falls on Wall Street amid expectations of further rate hikes in the United States. The benchmark Korea Composite Stock Price Index fell 33.22 points, or 1.41 percent, to 2,323.51 points as of 9:15 a.m. Strong US economic data, including estimate-beating growth and consumption, added to the prospects that the US Federal Reserve may continue to raise interest rates next year in an effort to rein in high inflation. Overnight, the Dow Jone
Dec. 23, 2022
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NongHyup Financial Group taps CEOs for affiliates
NongHyup Financial Group announced their affiliate CEO candidates, including NongHyup Bank, Thursday. The candidates were selected through a recommendation committee meeting held earlier in the day. The group has tapped Lee Seok-yong, a senior official in charge of planning and coordination at the National Agricultural Cooperative Federation, as NongHyup Bank CEO. NongHyup Bank is an affiliate of the National Agricultural Cooperative Federation. Lee joined the company in 1991 and has since been
Dec. 22, 2022
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Seoul shares end higher despite recession woes
Seoul shares finished sharply higher on Thursday, despite concerns over a looming global recession. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.78 points, or 1.19 percent, to close at 2,356.73, ending its losing streak of the past five sessions. Trading volume was moderate at 415.98 million shares worth 5.96 trillion won ($4.67 billion), with gainers outstripping decliners 655 to 210. Foreigners and individuals sold a net 570 billion won wor
Dec. 22, 2022
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Seoul shares open higher despite recession worries
Seoul shares opened higher Thursday, tracking Wall Street gains overnight, amid persistent worries about a global recession. The benchmark Korea Composite Stock Price Index rose 9.51 points, or 0.41 percent, to 2,338.46 in the first 15 minutes of trading. US stocks rallied overnight, boosted by strong earnings from some major companies and positive consumer confidence data. The Dow Jones Industrial Average jumped 1.6 percent, the S&P 500 rose 1.49 percent and the tech-heavy Nasdaq Composite
Dec. 22, 2022
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Seoul shares open higher amid global recession woes
Seoul shares opened higher Wednesday amid concerns over a global recession after the US Federal Reserve vowed to continue its monetary tightening to tame inflation. The benchmark Korea Composite Stock Price Index rose 6.35 points, or 0.27 percent, to 2,339.64 in the first 15 minutes of trading. Institutions and individuals bought a combined 53 billion won ($41 million) worth of stocks, exceeding foreign selling valued at 51 billion won. Fed officials last week indicated plans to raise the rate t
Dec. 21, 2022
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Seoul shares down on recession woes, Japan's yield curve policy change
South Korean stocks ended lower Tuesday dragged down by investor concerns over a global recession and the Japanese central bank's yield curve policy change that heralds a possible monetary tightening. The Korean won sharply strengthened against the US dollar. The benchmark Korea Composite Stock Price Index fell 18.88 points, or 0.80 percent, to close at 2,333.29, extending its losing streak to a fourth session. Trading volume was moderate at 353.63 million shares worth 5.2 trillion won ($4.
Dec. 20, 2022
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Seoul shares open lower on fears of global recession
Seoul shares opened lower Tuesday, tracking falls on Wall Street, amid investor concerns over a global recession after the US Federal Reserve vowed to continue its monetary tightening to tame inflation. The benchmark Korea Composite Stock Price Index declined 10.63 points, or 0.45 percent, to 2,341.54 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average decreased 0.49 percent to 32,757.54, and the tech-heavy Nasdaq Composite shed 1.49 percent to 10,546.03. Last week, t
Dec. 20, 2022
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Seoul shares down for third day on global recession worries
Seoul shares ended lower to extend their falls for the third consecutive day Monday as investors remain concerned the US Federal Reserve's additional rate hikes could result in a global recession next year. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 7.85 points, or 0.33 percent, to close at 2,352.17, extending its losing streak to a third session. The trading volume was moderate at 312.32 million shares worth 4.85 trillion won ($3.72 bill
Dec. 19, 2022
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Seoul shares open lower on recession fears
South Korean shares opened lower Monday on growing fears of a global economic slowdown over the Federal Reserve's monetary tightening to tame inflation. The benchmark Korea Composite Stock Price Index fell 11.29 points, or 0.48 percent, to 2,348.73 in the first 15 minutes of trading. On Friday, US shares ended lower as weak data on the real economy and the Fed's rate hikes stoked fears of the global economy facing a hard landing. The Dow Jones Industrial Average lost 0.85 percent, and
Dec. 19, 2022
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Retail investors' top 10 stocks log negative return rates
Korea's top 10 most popular stocks among retail investors, including tech titan Samsung Electronics and internet giants Naver and Kakao recorded negative return rates this year, as shares end lower on growing recession fears. The top 10 shares most bought by individual investors in Korea were Samsung Electronics, Naver, Kakao, preferred shares of Samsung Electronics, SK hynix, Doosan Enerbility, Kakao Bank, EcoPro BM, LG Electronics and Samsung Electro-Mechanics, Korea Exchange data showed.
Dec. 18, 2022
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Toss Securities joins hands with Hana Bank for 24-hour forex trading service
Hana Bank on Thursday signed a memorandum of understanding with Toss Securities, the brokerage arm of fintech company Viva Republica, to jointly provide around-the-clock service for foreign exchange trading. “Through continuous cooperation with various financial companies like Toss Securities, we will create a new trend in the foreign exchange market,” Hana Bank official Namgoong One said in a statement. According to Hana Bank on Friday, the bank will mainly provide exchange rate i
Dec. 16, 2022
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Seoul shares end lower on growing recession fears
South Korean stocks finished slightly lower Friday as investors worried about a global economic slowdown amid the Federal Reserve's continued push for aggressive monetary tightening. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 0.95 point, or 0.04 percent, to close at 2,360.02, extending a losing streak to a second session. The trading volume was moderate at 404.6 million shares worth 7.03 trillion won ($4.31 billion), with decliners ou
Dec. 16, 2022