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 continued to strengthen throughout the morning session. It eventually weakened to 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. After

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, closing its daytime trading just below the mark at 6,977.94, up 2.42 percent from the previous session. The Kospi's gains came as US technology stocks broadly advanced

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

Kospi rally hits pause, but experts see rebound ahead

The Kospi has lost momentum after a blistering first-half rally, fueling fears that the semiconductor cycle is nearing its peak and casting doubt over the market’s next move. The benchmark has remained range-bound in recent months, and weakening conviction in chip heavyweights Samsung Electronics and SK hynix keeps it from recapturing its earlier highs. Does this retreat mark a pause before another advance or will it be the beginning of a prolonged stall? For its 73rd anniversary special edition

2026-08-14 09:00:00:00

SK Shipping to become Asia’s largest LNG carrier in trillion-won fleet swap

SK Shipping will become Asia’s largest LNG carrier operator and rebrand as K-LNG through a trillion-won fleet reshuffle orchestrated by private equity owner Hahn & Co.. The company will acquire 16 liquefied natural gas carriers from sister company H-Line Shipping in exchange for 12 oil tankers and approximately $300 million in cash, Hahn & Co. said Thursday. The deal will give SK Shipping a fleet of 32 LNG carriers, placing it among the world’s three largest LNG shipping companies, according to

2026-08-13 10:41:03:00

TPG to buy Lotte Rental in W1.3tr deal

Lotte signed an agreement to sell its controlling stake in Lotte Rental, the operator of the country's top car rental brand Lotte Rent-a-Car, at 1.31 trillion won ($926 million) to US-based private equity firm TPG, the group announced Tuesday. The deal covers the entire 61.2 percent stake held by Hotel Lotte and Busan Lotte Hotel — 38.1 percent and 23.0 percent, respectively — at 59,000 won per share. Lotte said it selected TPG as the final buyer based on enterprise value, deal structure, employ

2026-08-12 15:10:16:00

July rate hike was no one-off, BOK deputy governor says

The Bank of Korea should keep raising interest rates after its first hike in more than three years, as strong growth and persistent inflation outweigh recent stabilization in the won and stock market, a senior central bank official said Tuesday. "Looking ahead, growth is expected to remain solid on the back of unprecedented income growth, while underlying inflationary pressures persist and financial stability risks could increase," BOK Senior Deputy Gov. Ryoo Sang-dai said at a press conference

2026-08-11 15:03:19:00