US firms add just 29,000 Jobs, unemployment rate ticks up

US nonfarm payroll growth slowed more sharply than expected in August. The US economy added 29,000 nonfarm jobs in August, the Labor Department’s Bureau of Labor Statistics said Friday, well below the 90,000 increase expected by economists. The unemployment rate rose to 4.2 percent, slightly above the 4.1 percent market forecast.

2026-10-02 22:06:01:00

Korean court overturns KRX delisting rules

A Seoul court has suspended the delisting of KM Pharmaceutical, ruling that the Korea Exchange’s minimum market capitalization rules were unlawful and invalid. The Seoul Southern District Court on Friday granted the company’s request to suspend the effect of its Sept. 14 delisting decision until a final ruling in the main case. It also barred the exchange from proceeding with liquidation trading. The court said the exchange had excessively restricted listed companies’ procedural rights by raisin

2026-10-02 20:52:13:00

FSC orders banks, card firms to conduct security checks

South Korea’s financial regulator on Friday ordered banks and credit card companies to conduct security checks following a series of cyberattacks involving Shinhan Bank and KB Kookmin Bank. The Financial Services Commission said it would promptly collect the results and use them to develop measures to strengthen cybersecurity in the financial sector. The FSC held an emergency meeting chaired by Secretary General Shin Jin-chang to share information on recent data breaches, including the types and

2026-10-02 20:26:45:00

Korea Investment Securities to buy 400 billion won worth of SK shares

Korea Investment & Securities will acquire a roughly 1 percent stake in SK Corp. for 400 billion won ($296.47 million) through a price return swap agreement. Korea Investment Holdings disclosed Friday that its subsidiary, Korea Investment & Securities, has decided to acquire 681,431 shares of SK Corp. for 400 billion won. Following the acquisition, its stake in SK Corp. will stand at 0.93 percent. The purchase price is equivalent to 3.57 percent of Korea Investment & Securities’ equity of 11.2 t

2026-10-02 20:12:16:00

Busan shark's second rescue attempt ends without success

Second attempt to rescue shark from Busan canal ends without success A second attempt to guide a large shark out of an artificial canal at a waterfront park in Busan failed Friday, with authorities deciding to leave the animal near the canal exit and wait for it to swim out on its own. The Busan Coast Guard and other authorities launched the operation Friday afternoon, three days after an initial attempt to drive the shark into the sea using water pumps was unsuccessful. This time, authorities u

2026-10-02 19:44:03:00

Musinsa’s W8tr valuation questioned ahead of IPO

Questions are emerging in South Korea’s financial market about whether Musinsa, the nation’s largest online K-fashion platform by sales, is appropriately valued at 8 trillion to 10 trillion won ($5.9 billion to $7.4 billion) ahead of its initial public offering. Analysts say further earnings growth and financial results will need to be confirmed to justify the valuation. According to financial investment industry sources Friday, the valuation largely reflects Musinsa’s future growth potential an

2026-10-02 15:21:11:00

Korea loses Elliott arbitration again over Samsung merger

South Korea has again been ordered to compensate US hedge fund Elliott Investment Management over government intervention in the 2015 merger of two Samsung affiliates, despite securing a partial annulment of the original arbitration award earlier this year. The Ministry of Justice said Thursday that the tribunal rehearing the case ordered the government to pay $48.49 million in damages — unchanged from the original award — plus interest and costs. Elliott put the total award at approximately $11

2026-10-01 15:09:50:00

[단독] 증시 급락에 퇴직연금 ‘위험자산 70%’ 폐지 제동

코스피가 9000선에서 6600선까지 급락하는 등 증시 변동성이 커지면서 퇴직연금의 위험자산 투자 한도인 ‘70% 규제’ 폐지 검토에도 다시 제동이 걸렸다. 정부와 금융투자업계는 투자 자율성 확대 취지에는 공감하면서도 노후자금의 위험자산 쏠림을 막을 최소한의 안전장치는 필요하다는 쪽으로 무게가 기울고 있다. 30일 금융투자업계에 따르면 고용노동부와 금투업계는 퇴직연금 위험자산 70% 한도 폐지 검토를 사실상 보류하는 쪽으로 기류가 바뀌고 있다. 회원사인 증권사와 자산운용사별 이해관계가 엇갈리는 데다 퇴직연금의 장기투자와 자산배분 기능을 고려하면 일정 수준의 안전장치가 필요하다는 의견이 커지고 있어서다. 특히 국내 투자자들의 투자 성향과 최근 증시 변동성을 감안하면 위험자산 한도를 전면 폐지하는 데 신중해야 한다는 목소리가 나온다. 퇴직연금은 단기 수익률보다 장기적인 자산배분을 통해 노후자금을 관리하는 제도인 만큼 투자 자율성 확대와 함께 일정 수준의 안전장치가 필요하다는 것이다. 금

2026-09-30 15:32:53:00

Authorities lean toward keeping 70% risky-asset cap in retirement pensions

South Korea is leaning toward retaining its 70 percent cap on risky assets in retirement pensions as market volatility slows a reform push to boost weak returns. According to industry sources Wednesday, the Ministry of Employment and Labor and financial firms have shifted toward retaining the cap to protect long-term retirement savings. Scrapping the limit was a key reform proposal, but the Kospi’s slide from above 9,000 to the 6,600 range has fueled caution. A meeting on the proposed fund-type

2026-09-30 15:17:54:00

Elite alumni network at center of W20b trading probe

A network of Seoul National University alumni working in finance allegedly used confidential deal information to make more than 20 billion won ($14.7 million) in illicit trading profits, financial authorities said Tuesday. The suspects, graduates of South Korea’s most prestigious university, allegedly shared information through connections formed at an SNU investment club and a global consulting firm. Investigators say the network extended to relatives and friends, with around 10 people trading

2026-09-29 15:04:58:00