Articles by Jung Min-kyung
Jung Min-kyung
mkjung@heraldcorp.com-
Kospi-listed firms’ debt-to-equity ratio worsens in Q1
South Korean companies listed on the main bourse saw their average debt-to-equity ratio up by nearly 6 percentage-points in the first quarter of the year, data showed Monday, with analysts citing poor corporate performance and implementation of new accounting standards. The average D/E ratio of 640 Kospi-listed firms, that end their fiscal year in December, increased 6.37 percentage points from the end of the year to 110.7 percent by end-March, according to data provided by the Korea Exchange, t
Market May 27, 2019
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S. Korean stocks retreat, won dips amid US’ threat to slap duties
South Korean stocks fell Friday, while the won closed higher against the US dollar, hours after Washington’s remarks that it is considering to impose anti-subsidy duties on nations that undervalue their currencies against the greenback. The announcement, which came amid an intensifying US-China trade dispute, put Korea at risk of higher tariffs, alongside the world’s second-largest economy China, Japan, India, Germany, and Switzerland. The benchmark Kospi closed 14.28 points, o
Market May 24, 2019
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Net profit of overseas FI branches jumps 37%
The overseas branches of South Korean financial institutions reported a 37 percent growth in their combined net profit on-year to nearly $1.3 billion last year, data from the Financial Supervisory Service showed Thursday.Overall, 79.1 percent of the combined net profit came from branches in Asia. China contributed the most with $252 million, with Hong Kong and Vietnam each tailing behind at $235 million and $157 million, respectively. The number of overseas branches operated by the firms i
Market May 23, 2019
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Woori conducts first overseas IR meeting as holding firm
Woori Financial Group has conducted its first investor relations meetings abroad after adopting a financial holding firm structure early this year, the firm said Monday.Group Chairman Sohn Tae-seung is participating in the first leg of the company’s IR roadshow in Japan and Hong Kong, which kicked off Sunday. The roadshow will take place over the course of four days. Sohn plans to outline the firm’s first-quarter performance for its foreign investors, the firm said, adding that the f
Market May 20, 2019
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S. Korean investors shift attention to overseas stocks
South Korean investors are turning their attention to foreign stocks, with local shares continuing to yield disappointing results amid the benchmark Kospi’s lack of long-term movement. The nation’s benchmark Kospi index inched up nearly 7 percent from the beginning of the year as of Thursday, but is moving at a snail’s pace compared with other major global indexes. It was just last month that the US’ S&P 500 and Nasdaq Composite closed at record-high levels, buoyed by
Market May 19, 2019
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US-China trade dispute weighs on Korea’s financial markets
The value of South Korean won compared to other major currencies fell to a 19-month low as of Sunday, with the ongoing US-China trade disputes weighing down the economy.Asia’s fourth-largest economy also saw its benchmark Kospi shed 7 percent after US President Donald Trump’s announcement to impose fresh tariffs on Chinese goods, two weeks earlier. According to real effective exchange rate index compiled by the Bank for International Settlements, the value of the South Korean currenc
Market May 19, 2019
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Incheon Airport MRO complex likely to be established soon
A pending bill for establishing an aviation maintenance, repair and overhaul complex at Incheon Airport is expected to be passed by the National Assembly soon, reports said Wednesday, which will fuel progress in the long-awaited project. Incheon International Airport Corp., which operates the nation’s key air hub, has been seeking for nearly a year to build an MRO cluster near the airport in Yeongjong-do. It is expected to attract local and foreign companies related to aviation maintenance and f
Industry May 15, 2019
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S. Korean stocks rebound amid intensified US-China trade dispute
South Korean stock markets rebounded slightly Tuesday after getting off to a weak start, amid signs of escalating tensions between the US and China in a trade war. The nation’s main bourse Kospi closed 0.12 percent higher than the previous trading, at 2,081.59. It had recovered on the back of institutional buying after opening 0.9 percent lower than the previous close at 2060.24.The secondary tech-heavy Kosdaq ended 0.24 percent higher at 710.49, having gained throughout the day after open
Market May 14, 2019
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Korea’s promissory note market projected to top W10tr
The market size for promissory notes issued by South Korean investment banks is projected to reach 10 trillion won ($8.5 billion) this year, according to data released Monday, with securities firms seeking to further solidify their identities as IBs. Promissory notes are short-term means of financing with less than one-year maturity and a maximum limit of 200 percent of their capital. The business segment can provide capital to expand the scope of overseas and alternative investments. The licens
Market May 13, 2019
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Despite jitters, bourse closes higher as China-US trade talks extend
South Korean stock markets rebounded at Friday’s close, after the main bourse fell below 2,100 earlier in the day, reflecting market fluctuations caused by ups and downs in the trade confrontation between the US and China. Tension had peaked at midday, as US tariff hikes on $200 billion of Chinese imports going from 10 percent to 25 percent took effect in the midst of negotiations. The higher close, however, also showed the market stabilizing for the time being, as the two sides are expect
Market May 10, 2019
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Lotte Chemical’s US ethylene plant to start operations this month
Lotte Chemical said Friday that its ethylene cracker complex in the US will start commercial operations this month, expressing hopes of expanding its global presence and diversifying its ingredients for petrochemical products. The $3.1 billion ECC project is a joint venture with Axiall Corp., which the Westlake Chemical Corp. acquired in 2016. Lotte owns 88 percent of the plant, while Westlake holds the remainder. Lotte Group Chairman Shin Dong-bin (center right) and South Korean Prime Minister
Industry May 10, 2019
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Korean markets tumble on US-China trade tensions
South Korean markets were rattled Thursday, along with other markets in the region, after US President Donald Trump claimed that Beijing “broke the deal” in the ongoing trade talks with Washington. Trump’s remarks made at a rally in Florida early in the day, dragged down major indexes by further dampening investor sentiments. Korea’s main bourse Kospi closed at 2,159.79, 66 points or 3.04 percent lower from the previous session. The secondary Kosdaq also slipped 21.1
Market May 9, 2019
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Korean securities firms post strong Q1 earnings
South Korean securities firms delivered strong first-quarter earnings this year by shifting their focus from equities to investment banking, principal investments and asset management services. This comes after most suffered an earnings shock in the fourth quarter last year due to a lackluster stock market. Meritz Securities’ first-quarter operating profit jumped 22.8 percent on-year to 165.9 billion won ($141.9 million), according to data from the Financial Supervisory Service, mark
Market May 8, 2019
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Strong dollar fans fear of foreign capital outflow from Korean market
With the Korean won extending its losing streak against the dollar, analysts voiced concerns on Monday that the prolonged trend may trigger an outflow of foreign capital from the local stock market. The won remained at 1,170 won -- its closing price on Friday -- against the US greenback, which marked the lowest value in 27 months. Korean stocks, bonds and foreign currency markets were closed for a public holiday Monday. On Friday, foreign investors net purchased shares worth 150.8 billion w
Market May 6, 2019
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Korean won performs worst among major currencies against US dollar
Among major currencies, the South Korean won suffered the steepest monthly decline against the US dollar, reports showed Wednesday, due to the latest trend of a persistently strong greenback. The won had fallen 2.82 percent on-month as of Tuesday, Bloomberg data that measured the monthly rate of decline of 16 major currencies showed.Most currencies weakened against the US dollar, except the Mexican peso and South Africa’s rand, which gained 1.98 percent and 1.07 percent, respectively. 
Economy May 1, 2019
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