Kospi steadies after early retreat

The South Korean benchmark Kospi steadied after retreating sharply in early trading Monday, as concerns over rising US interest rates were offset by share buybacks by chip giants Samsung Electronics and SK hynix. The Kospi closed at 6,820.02, up 0.46 percent from the previous session, according to the Korea Exchange. The index fell over 3 percent to 6,547.76 shortly after the opening bell, but pared its losses and eventually turned higher as heavy corporate buying helped lift the market. Foreign

2026-08-31 15:03:20:00

KB Financial narrows choice of next chair to 3 candidates

KB Financial Group's next chairman will be chosen from three candidates, including the incumbent Chairman Yang Jong-hee, the banking group announced Thursday. Following a meeting of its chairman candidate recommendation committee, the group announced that the field of candidates has been narrowed down to three people, including Yang, Lee Jae-keun, chief business officer of global, wealth management and corporate finance, and former Woori Bank CEO Kwon Kwang-seok. The decision was made after cond

2026-08-28 12:29:30:00

BOK delivers 'preemptive' back-to-back hikes

The Bank of Korea on Thursday raised its benchmark interest rate for a second consecutive meeting, tightening monetary policy amid persistent inflationary pressures as chip-led growth outweighed expectations. The Monetary Policy Board lifted the rate by 0.25 percentage point to 3 percent, following an increase of the same size in July. The decision was backed by six of the seven board members, with only one-member dissenting. The hawkish decision puts the base rate back to the 3 percent range fo

2026-08-27 14:52:06:00

BOK raises rate to 3%, lifts growth forecast

The Bank of Korea on Thursday raised its benchmark interest rate for a second consecutive meeting, pressing ahead with monetary tightening amid persistent inflationary pressures. The Monetary Policy Board lifted the rate by 0.25 percentage point to 3 percent, following an increase of the same size in July. Thursday’s decision came amid strong inflationary pressure fueled by rising incomes from the semiconductor boom. Real gross domestic product grew 0.6 percent in the second quarter from the pre

2026-08-27 09:56:43:00

Could Samsung, SK hynix payouts lift the won?

The won’s recent rally could gain momentum from Samsung Electronics and SK hynix, as their record shareholder returns are expected to trigger billions of dollars in currency conversions. Earlier this month, the Korean won broke into the 1,300-per-dollar range for the first time since October. While the won has been hovering around the 1,370-1,380 per dollar range in recent sessions, analysts said the currency could strengthen further, supported by the large shareholder return initiatives. The co

2026-08-26 15:18:16:00

BOK faces close call on back-to-back rate hikes

The Bank of Korea is set to hold its next rate-setting meeting Thursday, with markets split over whether the central bank will deliver another rate hike or pause, a decision that could offer clues on the pace and extent of its current tightening cycle. The BOK raised its benchmark rate by 0.25 percentage point to 2.75 percent in July, marking its first rate hike in over three years since January 2023. Markets are now watching whether the central bank will deliver a back-to-back rate hike. Follow

2026-08-25 14:55:00:00

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