Korea misses out on SpaceX's blockbuster IPO

As SpaceX blasted into the public market in a record-setting debut Friday, South Korea missed the ride altogether after Mirae Asset Securities, the only domestic member of the underwriting syndicate, failed to secure any share allocation. The rocket-maker enjoyed a successful Nasdaq launch, closing at $161 per share on Friday, up 19 percent from its initial public offering price of $135. The gain pushed its market cap above $2.1 trillion by the close of trading. Korea, however, was largely left

2026-06-14 15:11:22:00

KKR sees corporate reform unlocking Korea's valuation potential

US investment firm KKR highlighted South Korea as one of Asia's most compelling valuation opportunities, arguing that ongoing corporate governance reforms could unlock significant upside, the firm said Thursday. In its midyear 2026 outlook report, "The Divergence Conundrum," Henry McVey, head of Global Macro & Asset Allocation and chief investment officer of KKR Balance Sheet, described Korea's corporate reform story as "one of the more underappreciated opportunities in Asia," alongside Japan. T

2026-06-11 14:09:11:00

Won slide puts spotlight on offshore NDF trading

First came Korean retail investors pouring money into US stocks. Then came overseas investors trimming their exposure to Korean equities. Now authorities are turning their attention to another potential factor behind the won's sharp depreciation: trading in the offshore derivatives market. With the Korean won sliding to lows not seen since early 2009, authorities have flagged nondeliverable forward trading as a potential source of excessive volatility and stepped up monitoring of offshore transa

2026-06-10 15:19:59:00

Kakao Bank names former Kia executive as global head

Kakao Bank has appointed Kim Woo-joo, former global business executive at Kia, as head of its global division, the lender announced Tuesday. Kim brings nearly 30 years of experience from Hyundai Motor Group and Kia, where he led global business operations and future growth strategies, according to Kakao Bank. He played a key role in major global investments and new business initiatives at the automaking group, including the establishment of HMG Global, the group's US-based investment holding arm

2026-06-09 20:40:38:00

Korea tries to sweeten marriage deal

South Korea will ease income-based restrictions on benefits for married couples to encourage marriage among young people. The government unveiled a package of marriage-friendly policy reforms at a meeting chaired by Prime Minister Kim Min-seok on Tuesday. Officials said the measures were prompted by a growing number of unmarried people and an increase in couples delaying marriage registration for more than a year. The government believes the loss of various benefits after marriage has become a k

2026-06-09 19:38:39:00

AI chip boom fuels Korea's fastest growth in five years

South Korea's economy grew 1.8 percent in the January-March period, as booming chip exports fueled the strongest expansion since 2020, central bank data showed Tuesday. If sustained, the pace of growth could bring the country's per capita income to $40,000 sooner than expected. The country's real gross domestic product expanded 1.8 percent from the previous quarter, 0.1 percentage point higher than the Bank of Korea's preliminary estimate in April. The 1.8 percent expansion was the strongest qua

2026-06-09 15:19:40:00

Mirae Asset taps Singapore's UOB for omnibus accounts

Mirae Asset Securities said Monday it has launched a foreign investor omnibus account service through a partnership with Singapore-based brokerage UOB Kay Hian, in a move aimed at improving overseas investors' access to South Korean equities. The service was developed through Mirae Asset Securities' Singapore subsidiary and is expected to broaden access to the Korean stock market for investors in Singapore and across Southeast Asia. UOB Kay Hian is the brokerage arm of Singapore-listed UOB Kay H

2026-06-08 17:10:54:00

Kospi sinks 8% amid semiconductor selloff

The South Korean benchmark Kospi suffered an over 8 percent decline Monday as chip stocks tumbled, mirroring a rout in US semiconductor shares on Wall Street. Market heavyweights Samsung Electronics and SK hynix dragged the market lower, falling 7 to 10 percent. The index closed at 7,484.41, down 8.29 percent from the previous session. The drop was the steepest since March 4, when the benchmark tumbled a record 12.06 percent amid the outbreak of the Iran war. Although it opened just 1.38 percent

2026-06-08 14:53:10:00

Caryle acquires water purifier maker Chung Ho Nais

US private equity giant Carlyle said Monday it has signed a stock purchase agreement to acquire Chung Ho Group, which owns Korean home and healthcare appliance rental platform Chung Ho Nais. While the companies did not disclose financial terms, industry sources estimate the transaction is worth just over 1 trillion won ($644 million). The acquisition covers a 100 percent stake in Chung Ho Nais and its affiliates, including Microfilter, a water purifier filter manufacturer, and MCM, a parts suppl

2026-06-08 12:50:24:00

Authorities vow strong action against excessive won volatility

South Korea's foreign exchange authorities signaled Monday their readiness to step in if won volatility continues, after the local currency slid to its weakest level since the global financial crisis. "Recent volatility in the forex market appears to have been amplified not only by supply and demand factors but also by speculative foreign exchange transactions, including those in the non-deliverable forward market," said Yoon Kyoung-soo, director general of the International Department at the Ba

2026-06-08 12:12:06:00