Kospi slides over 7% as chip stocks sink

South Korean stocks plunged Thursday as a technology-led sell-off sent Samsung Electronics and SK hynix down roughly 10 percent, triggering circuit breakers on both the Kospi and Kosdaq. The benchmark Kospi tumbled 7.57 percent to close at 5,554.22, extending losses throughout the session after opening 5.59 percent lower. It was the first time for the index to close in the 5,500 point range since wrapping up at 5,593.56 on July 30. During the session, the index fell more than 9 percent to an int

2026-10-15 16:23:57:00

Kospi crashes 8% as Samsung, SK hynix sink over 10%

South Korean stocks plunged Thursday as a technology-led sell-off sent Samsung Electronics and SK hynix down more than 10 percent, triggering circuit breakers on both the Kospi and Kosdaq. The benchmark Kospi tumbled 8.13 percent to 5,515.76 as of 1:17 p.m., after opening 5.59 percent lower and extending losses throughout the session. The sharp decline triggered a sell-sidecar at 9:07 a.m., temporarily suspending sell orders in index futures-linked program trading. A circuit breaker followed at

2026-10-15 13:27:56:00

Palliser presses Samsung, Hyundai on preferred shares

Palliser Capital, a London-based activist investment fund, has urged Samsung Electronics and Hyundai Motor to reduce discounts on their preferred shares, arguing that the valuation gap represents more than $60 billion in potential value across South Korea's stock market. The fund also suggested Samsung consider issuing American depositary receipts, or ADRs, to help finance preferred share buybacks and cancellations. Speaking at the Sohn San Francisco Investment Conference on Tuesday, Palliser fo

2026-10-14 15:15:54:00

Korean banks on high alert after wave of cyberattacks

A wave of cyberattacks has exposed personal data at seven South Korean financial firms, prompting emergency security measures as regulators investigate whether a single attacker used artificial intelligence to breach their defenses. Shinhan Bank and Yegaram Savings Bank reported the largest breaches, affecting about 25,000 and 40,000 people, respectively. Authorities found the same attacker’s internet protocol address across all seven affected firms, raising suspicions of a coordinated campaign.

2026-10-05 14:47:15:00

MBK chief declines Homeplus audit summons

MBK Partners Chairman Michael ByungJu Kim has been named a parliamentary audit witness for a second consecutive year as lawmakers scrutinize the private equity firm’s handling of Homeplus. The National Assembly’s Trade, Industry, Energy, SMEs and Startups Committee has called Kim to testify at Wednesday’s audit of the Ministry of SMEs and Startups. Questions are expected to focus on emergency business stabilization funding provided following Homeplus’ entry into court-led rehabilitation and loss

2026-10-05 11:36:35:00

Samsung Life-backed Hayfin opens Seoul office

Hayfin Capital Management opened a Seoul office on Thursday to deepen ties with Korean institutional investors and expand its investments in the country, particularly in maritime finance. The European alternative asset manager, which oversees 40 billion euros ($45 billion), has appointed Chris Choi, former head of private equity, Asia-Pacific at UBS Asset Management, to lead the office. It manages nearly 1 billion euros on behalf of Korean investors. “Hayfin has been investing on behalf of Korea

2026-10-01 15:26:00:00

S&P DJI looks to Korea to test new investment strategies

South Korea is becoming a launchpad for investment innovation, with S&P Dow Jones Indices introducing some of its newest strategies here before other markets, a senior executive said. Sophisticated investors and inventive financial firms make Korea a valuable testing ground for products ranging from multi-asset and covered call strategies to thematic indices, according to Cameron Drinkwater, chief product and operations officer at S&P DJI. “It is a very important market for us not only because i

2026-09-30 15:17:58:00

AIA Life Korea taps China CFO as new chief

AIA Life Korea has nominated Leo Ng, chief financial officer at AIA China, as its next chief executive officer, the Hong Kong-headquartered life insurer said Monday. Ng Served as the CFO at AIA China from 2016. Including 12 years with AIA, he brings over 30 years of experience in the life insurance industry, having held several senior leadership roles across Asia, the insurer said. Ng holds a Bachelor of Mathematics degree from the University of Waterloo in Canada, specializing in actuarial scie

2026-09-28 17:05:55:00

NTS chief calls for tax support for Korean firms in Mexico

South Korea's top tax official called on Mexico to provide tax support for Korean firms operating in the country during the first bilateral high-level meeting with Mexico's tax authority, the National Tax Service said Wednesday. NTS Commissioner Lim Kwang-hyun met with his Mexican counterpart Antonio Martinez Dagnino, commissioner of the Mexican Tax Administration Service, or SAT, in Mexico City on Tuesday. Lim shared specific challenges brought by Korean entities, including delays in value-adde

2026-09-23 16:43:25:00

Do South Korea's sidecars still serve purpose?

South Korea's stock market was one of the world’s most volatile earlier this year, fueling growing questions about whether the country's sidecar remains effective. The key market safeguard, a five-minute halt on program trading, has been triggered far more frequently this year than ever before. The benchmark Kospi has seen 49 sidecar activations, nearly double the 26 recorded in 2008 at the height of the global financial crisis. The secondary Kosdaq has also seen 32 sidecar interruptions this ye

2026-09-23 13:01:44:00