Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Seoul shares open higher on US gains
South Korean stocks got off to a strong start Wednesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 32.69 points, or 1.38 percent, to trade at 2,403.66 points in the first 15 minutes of trading. Overnight, US stocks rallied on better-than-expected corporate earnings. The Dow Jones Industrial Average jumped 2.43 percent, and the tech-heavy Nasdaq composite surged 3.11 percent. In Seoul, most big-cap shares gathered ground, with techs and financi
July 20, 2022
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Seoul shares edge down amid recession woes
South Korean stocks snapped their two-day winning streak Tuesday, weighed down by concerns about rate hikes and slower economic growth. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 4.28 points, or 0.18 percent, to close at 2,370.97 points. Trading volume was relatively small at about 332 million shares worth some 6.3 trillion won ($4.8 billion), with gainers outnumbering losers 573 to 271. Institutions sold a net 145 billion won, wh
July 19, 2022
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FSC to review removing hurdles on companies owning banks
South Korea’s top financial regulator pledged Tuesday to review lowering the regulatory barriers that limit the industrial sector from owning banks, to accelerate digitalization of the economy and global growth. “The goal of our financial regulatory overhaul is to create a new field, so that leading global players like (K-pop band) BTS can be born in our financial industry,” Financial Services Commission Chairman Kim Joo-hyeon told a regulatory reform meeting. “We will
July 19, 2022
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Seoul shares open lower on recession woes
South Korean stocks opened lower Tuesday, tracking overnight falls on Wall Street amid concerns about rate hikes and slower economic growth. The benchmark Korea Composite Stock Price Index fell 12 points, or 0.51 percent, to trade at 2,363.25 points in the first 15 minutes of trading. Overnight, US stocks retreated on spreading concerns about the aggressive monetary tightening, fanned by Apple Inc.'s decision to narrow hiring and cut costs. The tech-heavy Nasdaq composite lost 0.81 percent,
July 19, 2022
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Seoul shares spike almost 2% to 2-week high on eased rate hike woes
South Korean stocks soared nearly 2 percent higher Monday, as the US Federal Reserve will unlikely deliver a full-percentage point interest rate hike amid deepening concerns over an economic slowdown. The Korean won gained ground against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 44.27 points, or 1.90 percent, to close at 2,375.25. Trading volume was moderate at 318.99 million shares worth 6.99 trillion won ($5.31 billion), with gainers outstripping decliners 778 to 116. F
July 18, 2022
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Kyobo, Affinity on blame game over IPO rejection
South Korea’s Kyobo Life Insurance and its second-largest shareholder -- a consortium led by Affinity Equity Partners -- are blaming each other for its recent failure to carry out an initial public offering. The blame game follows the nation’s sole bourse operator Korea Exchange’s decision on July 8 to reject an initial public offering by Kyobo, without citing a reason. Market watchers, however, cited Kyobo’s yearslong legal dispute with the consortium led by the Hong K
July 18, 2022
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Seoul shares open higher on US gains
Seoul shares opened higher Monday tracking strong gains on Wall Street last week. The benchmark Korea Composite Stock Price Index rose 20.48 points, or 0.88 percent, to trade at 2,315.46 in the first 15 minutes of trading. On Friday, US shares closed sharply higher. The Dow Jones Industrial Average advanced 2.15 percent, and the tech-heavy Nasdaq composite rose 1.79 percent. In Seoul, most big-cap shares gathered ground, with carmakers and tech firms leading the upturn. Market bellwether Samsung
July 18, 2022
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Weak won set to persist with US intent on more rate hikes
The South Korean won could further depreciate against the US dollar in months to come as long as the US backs aggressive monetary tightening to fight raging inflation, analysts said, as the Korean currency weakened to a 13-year low of 1,326.1 won per US dollar Friday. The breach of the 1,300 won psychological threshold -- prompted by rising US rates luring investors and soaring demand for the safe-haven asset amid global economic uncertainty -- is the latest indication that policymakers in Seou
July 17, 2022
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‘Myeongdong to recover from pandemic woes’
The empty, desolate streets of Seoul’s Myeong-dong shopping district have become a real estate nightmare for its landlords and inhabitants since the outbreak of the COVID-19 pandemic. But hope is not lost, according to Robert Wilkinson, managing director of Colliers’ Korea, the local branch of the Canadian commercial real estate firm. He said the area -- which had once been a tourist hotspot -- is slowly coming back to life and its recovery will gain speed once China eases trave
July 17, 2022
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Seoul shares end higher on auto, tech gains; Korean won at over 13-yr low
Seoul shares ended higher Friday as investors scooped up auto and tech stocks on bargain hunting amid concerns over further rate hikes to tackle inflation and a global recession. The Korean won sharply fell to the lowest level in over 13 years against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.66 points, or 0.37 percent, to close at 2,330.98 points. Trading volume was moderate at about 310.56 million shares worth some 7.25 trillion won ($5.5 billion), with decl
July 15, 2022
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Seoul shares open lower amid recession woes; Korean won sharply down
Seoul shares opened lower Friday amid concerns over more aggressive interest rate hikes by central banks to tackle inflation and a global economic slowdown. The benchmark Korea Composite Stock Price Index fell 7.96 points, or 0.34 percent, to trade at 2,314.36 in the first 15 minutes of trading. Institutions and foreigners sold a combined 109 billion won ($82 million) worth of stocks, exceeding individuals' stock purchases valued at 101.7 billion won. Foreigners offloaded some risky assets
July 15, 2022
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Seoul shares retreat amid rate hike woes
South Korean stocks retreated Thursday after a choppy session amid jitters about high inflation at home and in major economies. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index declined 6.29 points, or 0.27 percent, to close at 2,322.32 points. Trading volume was relatively low at about 344 million shares worth some 6.4 trillion won ($4.9 billion), with gainers outnumbering losers 433 to 418. Institutions sold a net 534 billion won, while foreigners boug
July 14, 2022
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S. Korea to actively deal with herd behavior in financial market: official
South Korea plans to actively tackle herd behavior in the financial market as market volatility has increased amid monetary tightening drives at home and abroad, a senior government official said Thursday. The government plans to step up its monitoring of the market, as the country's financial market has "sensitively" reacted to concerns about high inflation and global recession fears, according to First Vice Finance Minister Bang Ki-sun. "The government plans to actively deal wit
July 14, 2022
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Seoul shares open lower on Wall Street losses
South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street amid concerns about fast-growing inflation. The benchmark Korea Composite Stock Price Index fell 7.77 points, or 0.33 percent, to trade at 2,320.84 in the first 15 minutes of trading. Overnight, US stocks dropped as the estimate-beating consumer price index for June fanned worries that the Federal Reserve can accelerate its rate hike moves. The Dow Jones Industrial Average declined 0.67 percent, and the tech-heav
July 14, 2022
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[Market Eye] Short selling ban back in focus as stocks slide
South Korea’s top financial policymaker on Monday hinted at banning short selling again to prevent a jumpy stock market, but some market analysts say the plan should be reexamined since its effect on long-term market stability is still debatable. The ban -- which was temporarily put on the benchmark Kospi and junior Kosdaq in March 2020 over pandemic-induced volatility -- was partially lifted in May 2021, when the bearish investment practice was allowed on the Kospi 200 and the Kosdaq 15
July 13, 2022
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Seoul shares rebound on eased rate hike uncertainties
South Korean stocks rebounded Wednesday on eased uncertainties about the central bank's rate decision. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.85 points, or 0.47 percent, to close at 2,328.61 points. Trading volume was relatively small at about 303 million shares worth some 5.9 trillion won (US$4.5 billion), with gainers outnumbering losers 550 to 298. Institutions bought a net 357 billion won, while foreigners sold 101 bil
July 13, 2022
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Seoul shares open higher ahead of BOK's rate decision
South Korean stocks opened higher Wednesday ahead of the central bank's rate decision. The benchmark Korea Composite Stock Price Index rose 7.88 points, or 0.34 percent, to trade at 2,325.64 in the first 15 minutes of trading. The key stock index rebounded after a two-day loss since Monday, despite an overnight US stock fall. The Bank of Korea (BOK) will announce the results of its monetary policy meeting later in the morning. Investors are wondering if the BOK will take a "big step&qu
July 13, 2022
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Seoul shares down for 2nd day on earnings, virus concerns
South Korean stocks retreated for a second straight session Tuesday, weighed by concerns about corporate earnings and a surge in new coronavirus outbreaks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) decreased 22.51 points, or 0.96 percent, to close at 2,317.76 points. Trading volume was relatively small at about 374 million shares worth some 6.3 trillion won ($4.8 billion), with losers outnumbering gainers 772 to 129. Institutions sold a ne
July 12, 2022
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New FSC chief vows to stabilize markets, ease rules
Kim Joo-hyun, the new chief of the Financial Services Commission, said Monday that he would use all resources and cooperate with authorities for market stability at his inauguration, which took place after a divided National Assembly failed to hold a confirmation hearing. Kim underscored mounting concerns that aggressive rate hikes by the US Federal Reserve would further dampen investor optimism here. “Rapid inflation is eating into the economy. Economic and political factors,
July 11, 2022
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Seoul stocks snap 2-day winning streak on recession, corporate earnings woes
South Korean shares snapped a two-day winning streak Monday as investors took to the sidelines amid woes about a recession and possibly lackluster corporate earnings. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 10.34 points, or 0.44 percent, to close at 2,340.27 points. Trading volume was relatively small at about 369 million shares worth some 6.1 trillion won ($4.7 billion), with losers outnumbering gainers 569 to 295. Institution
July 11, 2022