-
1
Fitch maintains Korea's sovereign credit rating at 'AA-'
-
2
Korean shares skid as Trump's tariffs ignite new trade war
-
3
Consumer prices rise 2.2% on oil, weak won
-
4
Korean business delegation to visit Washington amid Trump tariff woes
-
5
Mirae Asset Securities posts 170% jump in net profit on robust overseas growth
-
6
Korea Zinc marks 100 straight quarters of sales growth
-
Mirae Asset Securities posts 170% jump in net profit on robust overseas growth
Korea’s leading brokerage house Mirae Asset Securities boosted net profit by nearly 170 percent and saw its net capital rising to the highest figure among local peers, as its overseas business gained traction last year. On a consolidated basis, Mirae Asset recorded a pretax profit of 1.18 trillion won ($815 million) in 2024, up 217 percent from a year earlier. Its net profit jumped 168 percent on-year to 893.7 billion won. Net capital grew to 12.2 trillion won, adding some 1 trillion won from it
Feb. 7, 2025
-
Fitch maintains Korea's sovereign credit rating at 'AA-'
Global ratings agency Fitch has decided to keep Korea’s long-term sovereign credit rating at "AA-," the company's fourth-highest level, with a stable outlook, citing the strength of the country's economic fundamentals despite the ongoing political volatility caused by President Yoon Suk Yeol’s abrupt martial law declaration. “A recent sharp rise in political uncertainty is likely to persist in the coming months and while we do not expect it to materially and durably undermine Korea's institution
Feb. 6, 2025
-
Korea Zinc marks 100 straight quarters of sales growth
Korea Zinc, the world’s largest zinc smelter, logged its 100th consecutive quarter of sales growth in the last three months of last year, hitting a major milestone despite global economic headwinds, it said Thursday. The firm recorded sales of 3.44 trillion won ($2.38 billion) and an operating profit of 132.8 billion won on a consolidated basis in the fourth quarter of last year. Sales increased by 42.6 percent compared to the same period of the previous year. Its operating profit, however, decr
Feb. 6, 2025
-
Consumer prices rise 2.2% on oil, weak won
Prices Korean consumers paid for goods and services increased by over 2 percent in January on the rise of international oil prices and a weakened Korean currency. The consumer price index went up by 2.2 percent in January from the previous year, marking the third consecutive month of increase, according to Statistics Korea Wednesday. Inflation climbed back above the 2 percent level for the first time in five months since August. The surge in prices of petroleum products was the main driver behin
Feb. 5, 2025
-
Korean business delegation to visit Washington amid Trump tariff woes
A South Korean delegation will visit the United States this month to bolster cooperation between the two countries after US President Donald Trump announced tariffs against its biggest trading partners, a local business lobby said Tuesday. The Korean delegation, which is led by Korea Chamber of Commerce and Industry Chairman Chey Tae-won -- who is also the chairman of SK Group -- and includes the chiefs of other conglomerates, such as HS Hyosung Corp. Vice Chairman Cho Hyun-sang, is scheduled to
Feb. 4, 2025
-
Korean shares skid as Trump's tariffs ignite new trade war
Seoul shares tumbled Monday as investors continued to reel from US President Donald Trump’s move to implement tariffs on Canada, Mexico and China over the weekend. The Korean currency also depreciated further amid the strengthening of the US greenback. On Saturday, Trump signed an order to impose general levies of 25 percent on Canada and Mexico and 10 percent on Chinese goods, starting Tuesday, sparking commitments for retaliation from other governments. The benchmark Kospi closed at 2,453.95 p
Feb. 3, 2025
-
Korea Zinc proxy battle shapes up ahead of shareholder meeting
After a monthslong ownership battle between Korea Zinc’s current management and the MBK Partners-Young Poong alliance, shareholders of the world’s largest zinc smelter are expected to decide the company’s fate this week. At an extraordinary general shareholders meeting on Thursday, Korea Zinc Chair Choi Yoon-beam and his proxy fight rival, the MBK-Young Poong coalition, will seek to add their respective nominees to Korea Zinc’s board. The two parties’ competition for a stake in Korea Zinc, which
Jan. 22, 2025
-
Korea's acting leader expects phone call with Trump soon
South Korea’s acting President Choi Sang-mok vowed to ensure the economy remains resilient Tuesday, with a delegation sent to Washington amid concerns stemming from a flurry of executive actions that US President Donald Trump signed immediately after his return to the White House. “We will strengthen the stability of our economy by maximizing opportunities from the launch of the new US government and minimizing risk factors,” Choi said during a meeting with government officials on external econo
Jan. 21, 2025
-
Korea Zinc wins key endorsement from proxy advisers in fight with MBK
A handful of proxy advisory firms here and abroad have endorsed Korea Zinc’s proposal for an extraordinary general shareholders meeting next week, supporting the current leadership of the world’s largest zinc smelter amid its fierce takeover battle with the MBK Partners-Young Poong alliance. Most of the proposals by Korea Zinc's board have won the backing of Glass Lewis, a US-based leading global proxy advisory firm, and other Korean advisers, including Korea ESG Research Institute, Sustinvest a
Jan. 16, 2025
-
Korean shares down despite Yoon's detention
Financial authorities keep eye on currency depreciation as it could trigger inflation Korean stocks ended down on Wednesday, with the benchmark Kospi and secondary Kosdaq giving back early gains following the detention of impeached President Yoon Suk Yeol in the morning. The Kospi closed at 2,496.81 points, down 0.02 percent from the previous close, while the Kosdaq declined by 0.90 percent to finish at 711.61 points. The main bourse failed to maintain the 2,500 level it touched in the morning t
Jan. 15, 2025