Most Popular
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Korea added to key bond index
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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Jay Park returns with quintessential R&B album after 8 years
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More deaths in ICU following doctors' mass walkout: lawmaker
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Netflix's latest runaway hit is a Korean reality cooking show
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Security issues to take center stage at ASEAN summit
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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[Contribution] Tax agency to help find unclaimed income tax refunds
Kim Young-chul, a food delivery rider in Seong-dong, Seoul, recently received a text message from the National Tax Service sent to inform him about unclaimed income tax refunds for the last five years. The message was suspicious, Kim said, but soon he recalled a colleague telling him about how convenient the tax refund system was set on the “Hometax” website, and how he received a swift income tax refund this May. Kim then immediately logged on to the Hometax website and soon learned
Nov. 6, 2022
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Chiefs of Hana Financial Group and MSCI discuss climate change response
Hana Financial Group Chairman Ham Young-joo met Friday with Henry Fernandez, chairman of the US financial firm Morgan Stanley Capital International, at Hana Financial Group's headquarters in central Seoul to discuss climate change response as well as environment, social and governance management. At the meeting, Ham introduced Hana Financial Group's ESG management efforts and its future plans to deal with the growing climate change risks. “Hana Financial Group is recognizing clim
Nov. 6, 2022
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Seoul stocks open lower on Wall Street losses
Seoul stocks opened lower Wednesday, taking a cue from overnight falls on Wall Street, as the US Federal Reserve is set to hold its interest-setting meeting. The benchmark Korea Composite Stock Price Index fell 8.8 points, or 0.38 percent, to 2,326.42 in the first 15 minutes of trading. US stocks closed lower as a surprising rebound in US job opening data dashed investors' hopes the central bank may slow down the pace of rate hikes. The S&P500 fell by 0.41 percent, the Dow Jones Index b
Nov. 2, 2022
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Seoul shares soar nearly 2% on tech, chemical gains ahead of Fed meeting
Seoul shares spiked by nearly 2 percent Tuesday on the back of a sharp rise in tech and chemical stocks ahead of the US Federal Reserve's policy meeting this week. The local currency rose against the US dollar. The Korea Composite Stock Price Index surged 41.61 points, or 1.81 percent, to 2,335.22. Trading volume was high at 586.7 billion shares worth 9.3 trillion won ($6.6 billion), with gainers outnumbering decliners 709 to 152. Institutional and foreign investors purchased a combined 686
Nov. 1, 2022
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Seoul shares open higher ahead of Fed's policy meeting
Seoul stocks opened higher Tuesday ahead of the US Federal Reserve's policy meeting this week. The benchmark Korea Composite Price Index rose 14.34 points, or 0.63 percent, to 2,307.95 in the first 15 minutes of trading. Overnight on Wall Street, stocks closed slightly lower as investors await the upcoming Federal Open Market Committee meeting scheduled this week. Investors expect the Fed to make another rate hike this week, but some cautiously believe that the central bank may go easy on a
Nov. 1, 2022
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Seoul shares open higher ahead of FOMC meeting
Seoul stocks opened higher Monday tracking Wall Street gains last week, as investors await the upcoming rate-setting meeting by the US Federal Reserve. The benchmark Korea Composite Stock Price Index rose 14.72 points, or 0.65 percent, to 2,283.12 in the first 15 minutes of trading. US stocks surged Friday, despite weaker than expected earnings results from tech heavyweights, like Amazon and Meta, as investor woes over higher inflation eased. The Dow Jones Index added 2.6 percent, the S&P500
Oct. 31, 2022
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Seoul shares fall on lackluster tech earnings, Fed policy uncertainties
South Korean stocks snapped a two-day gaining streak to close lower Friday, as investor sentiment was hurt by lackluster earnings and dim guidance from major US tech companies, and uncertainties over the Federal Reserve's monetary policy, analysts said. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index slid 20.38 points, or 0.89 percent, to 2,268.40. Trading volume was moderate at 420.3 million shares worth 8.15 trillion won ($5.73 billion) with
Oct. 28, 2022
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Seoul shares open lower on dim US tech earnings, Fed uncertainties
South Korean stocks opened lower Friday, weighed by lackluster earnings and forecasts from major US tech companies, with uncertainties hanging over the Federal Reserve's next move for monetary policy. The benchmark Korea Composite Stock Price Index slipped 3.7 points, or 0.16 percent, to 2,285.08 in the first 15 minutes of trading. US stocks ended mixed Thursday amid mixed economic data and earnings reports that included downbeat forecasts by big tech companies, including Meta Platforms, Fa
Oct. 28, 2022
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Seoul shares open higher on battery, auto gains
South Korean stocks got off to a strong start Thursday, buoyed by gains in blue chip battery and automakers, bucking overnight drops on Wall Street. The benchmark Korea Composite Stock Price Index rose 22.38 points, or 0.99 percent, to 2,271.94 in the first 20 minutes of trading. The US S&P and Nasdaq finished lower Wednesday, with the Dow Jones Industrial Average closing a tad higher, largely dampened by weaker earnings reports by major tech firms, including Microsoft and Alphabet. In Seoul
Oct. 27, 2022
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Seoul shares open almost flat amid eased Fed rate woes
South Korean stocks opened nearly unchanged on Wednesday amid expectations that the US Federal Reserve may ease up on its hawkish interest rate hikes. The benchmark Korea Composite Stock Price Index rose 1.14 points, or 0.05 percent, to 2,236.21 in the first 15 minutes of trading. Softer data on home price growth and consumer confidence, released Tuesday, renewed speculation that the Fed could start scaling down the rate hikes after its November monetary policy meeting set for next week. In Seou
Oct. 26, 2022
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Seoul shares nearly flat ahead of major earnings reports
South Korean stocks closed little changed Tuesday from the previous session, as investors took a breather ahead of earnings reports to be released by major companies later this week, amid worries over global inflation and US monetary tightening. After bobbing in and out of positive territory, the benchmark Korea Composite Stock Price Index slipped 1.09 points, or 0.05 percent, to 2,235.07. Trading volume was moderate at 448.8 million shares worth 6.92 trillion won ($4.82 billion) with decliners
Oct. 25, 2022
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Seoul shares open higher ahead of major earnings reports
South Korean stocks opened higher Tuesday, as investors await quarterly earnings reports from major companies this week, including tech giant Samsung Electronics Co., amid worries over global inflation and monetary tightening. The benchmark Korea Composite Stock Price Index rose 7.74 points, or 0.35 percent, to 2,243.90 in the first 15 minutes of trading. Top companies are set to release their third-quarter earnings later this week. The results will likely offer investors a clue as to how they a
Oct. 25, 2022
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Uncertainties behind recent liquidity crunch: FSC
A liquidity crunch South Korea is currently facing has to do with multiple factors, mainly led by uncertainties about where the economy is headed amid soaring interest rates and the rapidly depreciating local currency, the country’s top financial policymaker said Monday. “We had prepared the contingencies but the market conditions were worse than what we had expected,” Kim Joo-hyun, chairman of the Financial Services Commission, said at a National Assembly audit. Kim referred t
Oct. 24, 2022
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Seoul shares snap 3-day losing streak amid eased default risks
South Korean stocks advanced Monday to end their three-day losing streak. with construction and tech companies leading the rally, as the government's 50 trillion-won ($35 billion) liquidity support plan eased worries about growing credit crunch risks. The local currency ended nearly flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 23.04 points, or 1.04 percent, to close at 2,236.16. Trading volume was moderate at 434 million shares worth 6.76 trillion won wit
Oct. 24, 2022
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Seoul shares open higher on Fed hopes
South Korean stocks got off to a strong start Monday, as US Federal Reserve officials' remarks raised hopes that the central bank may dial down the pace of interest rate increases. The benchmark Korea Composite Stock Price Index gained 35.60 points, or 1.61 percent, to 2,248.72 in the first 15 minutes of trading. While the market still widely predicts another 0.75 percentage point rate hike by the Fed in December, Mary Daly, president of the San Francisco Federal Reserve Bank, suggested pla
Oct. 24, 2022
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After soaring past W75tr, can ETF market keep growing?
South Korea's exchange-traded funds combined market cap amounted to 75.5 trillion won ($52.6 billion) as of September, some 220 times larger than 344.4 billion won in October 2002, the latest data from the Korea Exchange showed. ETFs -- a type of pooled investment security that tracks a particular index, sector, commodity, or other assets, which can be traded on a stock exchange -- have managed to capture the attention of Korean investors in recent years. Twenty years ago, ETFs first landed in
Oct. 23, 2022
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Seoul shares off to slow start on weak exports
South Korean stocks opened slightly lower Friday as weak export data fanned concerns about an economic slowdown. The benchmark Korea Composite Stock Price Index had slipped 0.85 points, or 0.04 percent, to 2,217.24 points as of 9:15 a.m. South Korea's exports in the first 20 days of October contracted 5.5 percent from the previous year, indicating that monthly outbound shipments could decrease on-year for the first time in two years. Market bellwether Samsung Electronics inched up 0.18 perc
Oct. 21, 2022
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Banks' foreign currency liquidity stable but precaution needed: finance ministry
SEJONG -- Financial policymakers on Thursday said banks' foreign currency liquidity conditions remain stable, but raised concerns that the weak won against the US dollar could undermine the asset soundness of financial firms. The remarks were made at a meeting with senior officials from the Finance Ministry, the Bank of Korea, the Financial Services Commission and the Financial Supervisory Service, which was held at the Korea Center for International Finance in Seoul. At the meeting, First Vic
Oct. 20, 2022
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Seoul shares down for 2nd day on rate hike woes
South Korean stocks retreated for a second straight session Thursday, as investor sentiment worsened on concerns about aggressive rate hikes. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 19.35 points, or 0.86 percent, to close at 2,218.09 points. Trading volume was moderate at about 1.1 billion shares worth some 8.1 trillion won (US$5.7 billion), with gainers outnumbering losers 607 to 273. Institutions offloaded a net 409 billion wo
Oct. 20, 2022
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Seoul shares open lower on rate hike woes
South Korean stocks opened lower Thursday, taking a cue from overnight losses on Wall Street that stemmed from concerns about aggressive rate hikes. The benchmark Korea Composite Stock Price Index (KOSPI) had slipped 9.74 points, or 0.44 percent, to 2,227.7 points as of 9:16 a.m. Stocks got off to a weak start as investors expected further hikes in the policy interest rates at home and in major economies. Overnight, the Dow Jones Industrial Average lost 0.33 percent and the tech-heavy Nasdaq Com
Oct. 20, 2022