Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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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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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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KB Financial Group wins Red Dot Award
KB Financial Group said Monday that its wine collection using its character design won the Red Dot Award for Brands and Communication Design. The character design, which the firm created to boost its image as a friendly bank open to ordinary Koreans, is aimed at raising domestic wine sales amid the pandemic when small business owners face greater economic challenges, the firm added. “We are grateful for the award because we feel acknowledged for our efforts to help those most in need,&r
Aug. 8, 2022
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Seoul shares open lower on renewed rate hike worries
South Korean stocks got off to a weak start Monday, tracking the decline in US major indexes late last week, on renewed worries over the increasing likelihood of another sharp rate hike by the US Federal Reserve. The Korea Composite Stock Price Index (KOSPI) fell 9.38 points, or 0.38 percent, to 2,481.42 in the first 15 minutes of trading. The S&P 500 and Nasdaq ended lower on Friday (US time), after the latest US nonfarm payroll data showed employment expansion in July that was far larger than
Aug. 8, 2022
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Foreigners return, retail investors leave Kospi
Retail investors turned net sellers of South Korean stocks in recent weeks despite foreigners’ buying spree, data showed Sunday, putting the nation’s key stock index in a bear market rally. Overseas investors scooped up a net 4 trillion won ($3.08 billion) on the Kospi market from July 14 to Friday, data from the nation’s sole bourse operator Korea Exchange showed, driving the benchmark index’s slight rebound. The Kospi inched up 1.60 percent to 2,490.80 on Friday compa
Aug. 7, 2022
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Seoul shares up for 3rd day on foreign buying
Seoul shares closed higher for the third consecutive day Friday on continued foreign buying. The South Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.69 points, or 0.72 percent, to close at 2,490.80. The figure is up 1.6 percent from a week ago. Trading volume was moderate at 400.63 million shares worth 7.4 trillion won ($5.7 billion), with gainers outnumbering losers 595 to 241. Foreigners and institutions bought a combined net 418.5
Aug. 5, 2022
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Seoul shares end higher on foreign buying
Seoul shares ended on foreign buying on Wednesday. The South Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.66 points, or 0.47 percent, to close at 2,473.11 points. Trading volume was moderate at 393.27 million shares worth 7.4 trillion won ($5.6 billion), with gainers outnumbering losers 466 to 382. The Dow Jones Industrial Average rose 1.3 percent, and the tech-heavy Nasdaq Composite climbed 2.6 percent on robust economic data showing the
Aug. 4, 2022
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Seoul shares open higher on US gains
Seoul shares opened higher Thursday, tracking overnight gains on Wall Street, as jitters over US-China tension, caused by US House Speaker Nancy Pelosi's Taiwan visit, eased somewhat. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.91 points, or 0.36 percent, to trade at 2,470.36 points in the first 15 minutes of trading. The Dow Jones Industrial Average rose 1.29 percent, and the Nasdaq Composite climbed 2.59 percent on firm economic data showing the world's largest eco
Aug. 4, 2022
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Top Korean banks face flak for profiting from surging rates
Top commercial banks have come under fire for increasingly denying customer requests to lower their interest rate repayments, while profiting heavily from of their lending programs, data showed Wednesday. The growing criticism comes as borrowers have been facing heavier debt repayment burdens in recent months, with lenders keeping their borrowing rates in pace with the central bank’s aggressive rate hikes. Last year, the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and
Aug. 3, 2022
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Seoul shares end higher amid woes over fallout from Pelosi's Taiwan visit
Seoul shares ended higher on gains in automakers and battery makers on Wednesday, with investors eyeing the fallout from US House Speaker Nancy Pelosi's trip to Taiwan amid global recession worries. The South Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.83 points, or 0.89 percent, to close at 2,461.45 points. Trading volume was moderate at 463.71 million shares worth 6.6 trillion won ($5.03 billion), with gainers outnumbering losers
Aug. 3, 2022
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Seoul shares open higher despite US losses
Seoul shares opened higher Wednesday, bucking overnight losses on Wall Street, with investors staying wary of any ripple effect of US House speaker's trip to Taiwan on the financial markets. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.48 point, or 0.02 percent, to trade at 2,440.10 points in the first 15 minutes of trading. Escalating tension between China and the United States over US House Speaker Nancy Pelosi's visit to Taiwan on Tuesday could further weigh on inv
Aug. 3, 2022
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Foreign reserves grow for 1st time in 5 months in July
South Korea's foreign reserves increased for the first time in five months in July, thanks to increased operation profits and expanded deposits in foreign currency, central bank data showed Wednesday. The country's foreign reserves came to $438.61 billion as of end-July, up $330 million from the previous month, according to the data provided by the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund re
Aug. 3, 2022
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Seoul shares snap 6-day winning streak amid recession woes
Seoul shares ended lower Tuesday, snapping a six-day winning streak, as investors remain watchful on escalating US-China tension over Taiwan amid global recession worries. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 12.63 points, or 0.52 percent, to close at 2,451.5 points. Trading volume was moderate at 539.85 million shares worth 7.2 trillion won ($5.5 billion), with losers outnumbering gainers 615 to 240. To get a cue, investors are keeping
Aug. 2, 2022
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Move over stockbrokers: ‘Ant’ investors new stars of TV shows
The global entertainment industry’s obsession with revealing the finance industry’s deepest and darkest secrets on screen is nothing new. But in South Korea, the protagonists are no longer power-hungry brokers in suits – it’s everyday retail investors. JTBC’s “Cleaning Up,” a 16-episode remake of the British drama of the same name which aired from June 4 to July 24, is at the forefront of the change. It tells the story of how cleaners at a local broker
Aug. 2, 2022
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Seoul shares open lower amid US-China tension, recession woes
Seoul shares opened lower Tuesday, tracking overnight losses on Wall Street, with investors keeping a watchful eye on escalating US-China tension over Taiwan amid global recession woes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.10 points, or 0.21 percent, to trade at 2,447.15 points in the first 15 minutes of trading. US House Speaker Nancy Pelosi reportedly plans to visit Taiwan on Tuesday. China has warned of consequences if she makes the trip to what it views as its terri
Aug. 2, 2022
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Seoul shares up for 6th day on speculation over less-aggressive US rate hikes
Seoul shares closed higher Monday amid speculation a second straight quarterly US contraction may cause the Fed to become less aggressive in raising rates. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.75 point, or 0.03 percent, from the previous session to close at 2,451.5 points, extending its winning streak to the sixth day. Trading volume was moderate at 480.94 million shares worth 7.4 trillion won ($5.7 billion), with gainers outnu
Aug. 1, 2022
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Seoul shares open lower as tech stocks decline
South Korean shares opened lower Monday on a decline in major tech stocks amid global recession woes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.14 points, or 0.33 percent, to trade at 2,443.36 points in the first 15 minutes of trading. Eyes are on whether the Federal Reserve will become less aggressive in raising rates following an aggressive 0.75-percentage point hike in the benchmark interest rates. Institutions and foreigners sold a combined 132 billion won worth of stock
Aug. 1, 2022
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Foreign investors turn net buyers of South Korean stocks in July
Foreign investors were net buyers of South Korean stocks in July, reversing their selling spree for the last six months over recession worries and looking to step in and buy on the cheap amid signs of a market bottom. According to the Korea Exchange on Sunday, foreigners purchased net 2.3 trillion won ($1.7 billion) worth of shares on the benchmark Kospi, the highest monthly volume since a 3.3 trillion-won inflow in December last year. The main board rose to 2,451.50 Friday, up 5.1 percent from
July 31, 2022
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Skepticism grows over Yoon’s war against illegal stock short selling
South Korea’s Yoon Suk-yeol administration has declared war on the nation’s “deep-rooted” practice of illegal short selling, but retail investors and onlookers are expressing skepticism on whether the practice could really be uprooted. On Thursday, financial authorities and top prosecutors warned that all profit and hidden money from illegal short selling will be confiscated if the prosecution’s recently revived Financial and Securities Crime Joint Investigation Te
July 29, 2022
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Seoul shares extend winning streak to 5th day on hope for Fed's less aggressive rake hikes
South Korean stocks advanced for the fifth consecutive session Friday as investors speculated that a second consecutive quarterly contraction in the US economy may prod the US Federal Reserve to take rate hikes that are less aggressive than previously expected. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 16.23 points, or 0.67 percent, from the previous session to close at 2,451.5 points. The figure is up 2.44 percent from a week ago. T
July 29, 2022
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Seoul shares open higher on expectations over Fed's less aggressive rate hikes
South Korean stocks opened higher Friday, as investors speculated that a second consecutive quarterly contraction in the US economy may prod the US Federal Reserve to take rate hikes that are less aggressive than previously expected. The benchmark Korea Composite Stock Price Index added 17.81 points, or 0.73 percent, to trade at 2,453.08 points in the first 15 minutes of trading. Stocks came off to a solid start after a 1.03 percent gain on the Dow Jones Industrial Average and a 1.08 percent adv
July 29, 2022
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Seoul shares up for 4th day to over 1-month high on eased uncertainty over Fed's rate hikes
South Korean stocks advanced for a fourth consecutive session Thursday as the chief of the US Federal Reserve has hinted at slowing the pace of its interest rate hikes down the road. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 19.74 points, or 0.82 percent, to close at 2,435.27 points, the highest figure since June 17. Trading volume was a bit heavy at 477.4 million shares worth some 9.01 trillion won ($6.93 billion), with gain
July 28, 2022