Samsung's W110tr shareholder return disappoints investors

Samsung Electronics shares plunged nearly 9 percent Monday, with the company's plan to allocate up to 110 trillion won ($79.5 billion) for shareholder returns falling short of market expectations. Samsung Electronics shares closed at 257,000 won, down 8.7 percent from the previous session, according to the Korea Exchange. Its preferred shares fell 8.55 percent. The chipmaker's plunge sent other Samsung Group affiliates reeling. Samsung C&T fell 7.84 percent, while Samsung Life Insurance dropped

2026-08-24 15:32:02:00

Brokerages cut Kakao targets as split raises valuation concerns

Kakao's plan to split into two listed companies, Kakao AI and Kakao X has prompted a streak of target price cuts from brokerage houses, citing concerns over a potential holding company discount and the profitability of its AI business. According to reports released by 11 securities firms on Kakao on Monday, five lowered their target prices for the company: Hana Securities, Kiwoom Securities, Samsung Securities, Meritz Securities and Daol Investment & Securities. Kiwoom Securities cut its target

2026-08-24 14:50:20:00

Why is BOK buying gold again?

After more than a decade, the Bank of Korea is back on a gold-buying spree, raising its exposure to the precious metal as it joins central banks around the world in diversifying their foreign reserves. According to the BOK, the central bank currently holds 104.4 metric tons of gold, valued at $4.79 billion, or 1.1 percent of its total foreign exchange reserves of $427.36 billion at end-June. The relatively small share highlights the BOK's limited exposure to gold compared with other central bank

2026-08-23 15:09:12:00

BitGo becomes first foreign crypto firm to win Korean license

BitGo Korea, the local unit of global digital asset infrastructure company BitGo, has received approval from South Korean regulators to operate as a virtual asset service provider here, making it the first foreign player to earn the status. According to the company, the Financial Intelligence Unit under the Financial Services Commission approved BitGo Korea's VASP registration, allowing it to provide services including virtual asset transfers, custody and management. While most foreign virtual a

2026-08-20 14:12:32:00

Korean won breaks into 1,300s

The won broke into the 1,300-per-dollar range Wednesday for the first time in more than 10 months, defying a steep Kospi selloff as weak US data pressured the dollar and Korean exporters sold more of their dollar holdings. The won opened at 1,413.3 won per dollar in Seoul's onshore trading, and extended its appreciation throughout the morning session. It eventually fell below the 1,400 won mark just before noon, marking the first time it has traded at the 1,300-won level since Oct. 2. The won wa

2026-08-19 14:58:17:00

What a widening profit gap means for Korea Zinc control fight

Korea Zinc more than doubled its second-quarter operating profit to a record high, while Young Poong’s profit nearly evaporated from the previous quarter, widening the earnings divide between the two rivals locked in a battle for control. Korea Zinc reported consolidated revenue of 6.37 trillion won ($4.56 billion) for the April-June period, up 66.6 percent from 3.82 trillion won a year earlier, according to regulatory filings. Operating profit surged 126.8 percent on-year to 587 billion won fro

2026-08-19 14:55:12:00

Chip boom prompts Moody’s to lift Korea growth to 3.5%

Moody’s has raised South Korea’s 2026 growth forecast to 3.5 percent from 2.5 percent, betting that the AI-driven memory chip boom will extend into mid-2027. Earlier this month, the ratings agency projected that Korea's GDP would grow 3.5 percent this year and 2.7 percent next year in its periodic review of the country's sovereign credit ratings. The latest outlook marks a full percentage-point increase from Moody's May forecast of 2.5 percent growth for the Korean economy in 2026. It also nearl

2026-08-18 15:19:26:00

Toss H1 revenue jumps as in-app services gain traction

Viva Republica, the operator of South Korean fintech giant Toss, reported an over 50 percent increase in revenue in the first half of the year, driven by growth across its in-app services. Consolidated revenue stood at 1.89 trillion won ($1.34 billion), up 53.2 percent from a year earlier. Consolidated operating profit rose 59.2 percent to 246.1 billion won, while net profit jumped 120.2 percent to 232.8 billion won. Revenue growth outpaced the increase in expenses, driving both top-line growth

2026-08-14 17:45:19:00

Korea Investment to widen footprint with KDB deal

With the acquisition of KDB Life, Korea Investment Holdings is set to broaden its business portfolio beyond its brokerage-led operations, marking a major step in its push to strengthen its presence across the financial sector. Policy lender Korea Development Bank selected Korea Investment Holdings as the preferred bidder for KDB Life, the finance group announced through a regulatory filing Thursday. The deal involves 116.32 million common shares in KDB Life, representing a 99.75 percent stake. T

2026-08-14 16:38:42:00

Kospi reclaims 7,000 mark in trading

The South Korean benchmark Kospi rose above the 7,000-point mark during trading Friday for the first time in 15 sessions, buoyed by gains in US technology stocks. In early trading, the index reached an intraday high of 7,010.86, climbing above the 7,000 threshold for the first time since July 24. It later pared some of its gains, trading at 6,945.46, up 1.94 percent from the previous session, as of 9:25 a.m. The Kospi's gains came as US technology stocks broadly advanced in the previous session

2026-08-14 10:27:15:00