Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Seoul stocks end higher after Fed decision
Seoul shares closed higher Thursday, tracking gains on Wall Street, after the Federal Reserve delivered a small rate hike while acknowledging progress in its battle against inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 19.08 points, or 0.78 percent, to close at 2,468.88 points. Trading volume was moderate at 682.5 million shares worth some 9 trillion won, with gainers outnumbering losers 604 to 264. The Dow Jones Industrial Average clo
Feb. 2, 2023
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Seoul stocks open higher after Fed decision
Seoul shares opened higher Thursday, tracking overnight gains on Wall Street, after the Federal Reserve delivered a small rate hike while acknowledging progress in its fight against inflation. The benchmark Korea Composite Stock Price Index rose 23.98 points, or 0.98 percent, to 2,473.78 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.02 percent higher at 34,092.96 points, and the tech-heavy Nasdaq Composite advanced 2 percent to 11,816.32. The Fed raised
Feb. 2, 2023
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KRX battles 'Korea discount' with earlier opening, eased regulations
The Korea Exchange unveiled a series of plans on Tuesday to transform the country's trading system in line with global standards, aiming to overcome the undervaluation of the domestic stock market. The bourse operator said it will push to open the derivatives market 15 minutes earlier at 8:45 a.m. Currently, the local derivatives market opens at 9 a.m. at the same time as the securities market. “By opening the derivatives market a little bit earlier, global events can be reflect
Jan. 31, 2023
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Seoul stocks end lower ahead of Fed's rate decision
Seoul shares ended lower Tuesday, tracking falls on Wall Street, as investors stay cautious ahead of the Federal Reserve's rate decision this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 25.39 points, or 1.04 percent, to close at 2,425.08 points. The Kospi ended in negative territory for a second straight session after reporting gains in the previous five sessions. Trading volume was moderate at about 606 million shares worth 10.15 tr
Jan. 31, 2023
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Seoul stocks snap 5-day winning streak on tech, auto losses; Korean won at 9-month high
Seoul stocks snapped their five-day winning streak Monday, weighed by losses in major tech shares ahead of the US central bank's rate-decision meeting and exports data from Asia's fourth-largest economy. The Korean won rose to the highest in nine months against the US dollar. The benchmark Korea Composite Stock Price Index retreated 33.55 points, or 1.35 percent, to close at 2,450.47 points. Trading volume was moderate at about 460 million shares worth some 8.7 trillion won ($7.1 billi
Jan. 30, 2023
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Tax revenue up 15% in 2022
South Korea's tax revenue rose 51.9 trillion won ($42 billion) in 2022 from a year earlier on the back of an increased collection of corporate income taxes, coupled with revitalized consumption, the finance ministry said Monday. The government collected 395.9 trillion won in taxes last year, up 15.1 percent from the 344.1 trillion won tallied in 2021, according to the Ministry of Economy and Finance. In 2020, the tax revenue fell by 7.9 trillion won due to the fallout of the COVID-19 pandem
Jan. 30, 2023
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Seoul stocks open lower ahead of Fed meeting
Seoul stocks opened lower Monday, as investors took to the sidelines ahead of the Federal Reserve's meeting this week. The benchmark Korea Composite Stock Price Index retreated 10.32 points, or 0.42 percent, to 2,473.7 points in the first 15 minutes of trading. Stocks got off to a weak start. The tech-heavy Nasdaq closed up 0.95 percent Friday, with the Dow Jones Industrial Average and the S&P 500 finishing up 0.08 percent and 0.25 percent, respectively. Signs of slowing US inflation hi
Jan. 30, 2023
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Seoul stocks up for 5th day on tech rally
Seoul stocks extended their winning streak to a fifth day Friday, as foreign and institutional investors scooped up major tech shares. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 15.37 points, or 0.62 percent, to 2,484.02. Trading volume was moderate at 495.4 million shares worth 8.89 trillion won ($7.21 billion), with gainers outpacing losers 571 to 209. The Kospi opened higher following a tech rally on Wall Street. Foreign and institutional
Jan. 27, 2023
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Seoul stocks open higher on US advances
Seoul stocks opened slightly higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 0.75 points, or 0.03 percent, to 2,469.4 in the first 15 minutes of trading. The local stock market followed overnight advances on Wall Street, where stocks rose to the highest level in nearly eight weeks, as investors bet the US economy is performing better than expected. The S&P 500 added 1.1 percent, the Dow Jones Industrial Average was up 0.61 percent,
Jan. 27, 2023
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[Graphic News] Air traffic rises 16% last year but still below pre-pandemic levels
South Korea’s air traffic rose 16 percent in 2022 from a year earlier on unleashed pent-up demand for travel amid eased COVID-19 virus curbs, the Transport Ministry said. Airlines, domestic and foreign, made a total of 539,788 flights over South Korea last year, up from 465,469 flights a year ago, the Ministry of Land, Infrastructure and Transport said in a statement. The ministry said the 2022 number of flights still stood at 65 percent of the pre-pandemic levels. Air traffic in the count
Jan. 27, 2023
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[Contribution] Playing it SAFE, but not too safe
By Steve Brice As we start 2023, investors’ scars from last year’s sell-off across publicly traded markets are still very raw. Against this backdrop, the theme of our 2023 Outlook, Playing it SAFE, should resonate with investors. We believe sequencing your investments is going to be important in the coming year: Bonds are a good place to start, given some of the highest yields offered in a decade and our expectation that a recession is likely in the US and Europe in the first half of
Jan. 26, 2023
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Seoul stocks up for fourth day on foreign buying
Seoul stocks surged over 1 percent Thursday, as foreign investors scooped up market heavyweights in the run-up to the corporate earnings season. The Korean won advanced against the US dollar. The benchmark Korea Composite Stock Price Index climbed 40.08 points, or 1.65 percent, to 2,468.65. Trading volume was moderate at 476.2 million shares worth 8.1 trillion won ($6.58 billion), with gainers outpacing decliners 620 to 249. Foreigners and institutional investors were net buyers at a combined 1.
Jan. 26, 2023
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Seoul stocks open slightly higher amid earnings woes
Seoul stocks opened slightly higher Thursday as investors brace for earnings reports from major companies. The benchmark Korea Composite Stock Price Index rose 7.26 points, or 0.3 percent, to 2,435.83 in the first 15 minutes of trading. The local stock market opened higher despite lackluster trading on Wall Street overnight. The S&P 500 inched down 0.02 percent, while the Dow Jones Industrial Average edged up 0.03 percent. The tech-heavy Nasdaq closed 0.18 percent lower than the previous ses
Jan. 26, 2023
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Seoul shares close more than 1% higher on tech gains
Seoul stocks closed more than 1 percent higher Wednesday on tech gains, as investors were hopeful that the US Federal Reserve could ease the pace of rate increases. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 33.31 points, or 1.39 percent, to 2.428.57. Trading volume was moderate at 539.8 million shares worth 6.57 trillion won ($5.4 billion), with gainers outnumbering decliners 526 to 325. Institutional and foreign investors were net buyers
Jan. 25, 2023
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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