Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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[Today’s K-pop] Stray Kids go gold in US with ‘Maniac’
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Woman dangling from power lines rescued by residents holding blanket
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Seoul stocks start higher, tracking Wall Street
South Korean shares opened higher Wednesday, tracking Wall Street's strong showing overnight. The benchmark Korea Composite Stock Price Index rose 7.34 points, or 0.3 percent, to 2,441.15 in the first 15 minutes of trading.Most large caps traded mixed, with market kingpin Samsung Electronics gaining 1.44 percent.Top automaker Hyundai Motor rose 0.66 percent, while top steelmaker POSCO fell 1.09 percent.The local currency was trading at 1,132.85 won against the US dollar, up 2.25 won from t
Oct. 11, 2017
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Foreign buying on Kospi largest in over 4 years
South Korea‘s main bourse saw the largest foreign net purchase of its stocks in over four years Tuesday, while the market index approached the record-high in its closing, overshadowing escalating verbal war threats between North Korea and the United States. The Kospi closed at 2,433.81 Tuesday, the highest since July 27, when the index closed at 2,443.24. Kospi went up 1.64 percent from the previous trading day on Sept. 29, the highest rise in five months since 2.3 percent surge on May 8.
Oct. 10, 2017
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Foreign investors may adjust portfolios over N. Korea risks: BOK board member
Global investors may adjust their portfolios by exiting their capital from South Korea in case of a prolonged security risk on the Korean Peninsula, a central bank monetary board member said Tuesday.The unidentified member of the Bank of Korea monetary policy board has called for close monitoring of foreign investors as he issued the warning about a possible outflow of funds, according to the minutes of a September meeting.In August, foreign investors offloaded South Korean stocks and bonds wort
Oct. 10, 2017
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Seoul stocks close higher on tech gains
South Korean stocks closed higher Tuesday as Samsung Electronics and other tech stocks advanced on expectations of healthier earnings. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index climbed 39.34 points, or 1.64 percent, to close at 2,433.81. Trade volume was moderate at 218 million shares worth 7.25 trillion won ($6.37 billion). After closing for 10 days for Chuseok and other public holidays, the local stock market opened higher. South Korean offi
Oct. 10, 2017
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Techs drive KOSPI higher late Tuesday morning
South Korean shares traded sharply higher Tuesday, boosted by technology stocks as investors displayed optimism over third-quarter earnings. The benchmark Korea Composite Stock Price Index gained 46.54 points, or 1.94 percent, to 2,441.01 as of 11:20 a.m.Top cap Samsung Electronics, scheduled to release its third-quarter earnings guidance later this week, jumped 4.45 percent, and global chipmaker SK hynix soared 8.08 percent. Top automaker Hyundai Motor rose 0.66 percent, and its smaller affilia
Oct. 10, 2017
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Seoul stocks open sharply higher, led by techs
South Korean shares opened sharply higher Tuesday, boosted by technology stocks as investors displayed optimism over third-quarter earnings. The benchmark Korea Composite Stock Price Index gained 32.61 points, or 1.36 percent, to 2,427.08 in the first 15 minutes of trading. Most large caps had mixed fortunes, with market kingpin Samsung Electronics jumping 4.49 percent.Top automaker Hyundai Motor fell 0.33 percent, while top steelmaker POSCO rose 1.42 percent.The local currency was trading at 1,
Oct. 10, 2017
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Financial market stable during long Chuseok holiday: regulator
South Korea's financial market remained stable during the 10-day Chuseok holiday despite concerns surrounding North Korean provocations, state regulators said Monday.The Financial Supervisory Service said after a market review meeting that the country's credit default swaps premium stood at 69.9 basis points as of Friday, down from 73.8 bp on Sept. 29, just before the start of the holiday. CDS reflects the cost of hedging credit risk on sovereign debt with a rise implying a deterioration in the
Oct. 9, 2017
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[Newsmaker] Samsung stock surge a boon to Lee family
Common stock of firms under South Korea’s largest conglomerate Samsung saw a combined 111.5 trillion won ($97.3 billion) gain in asset value this year, not only spearheading a stock market rally but also awarding 6 trillion won in increased stock wealth to members of Samsung’s owner family, data showed Monday. The combined market cap of 15 Kospi-listed and one Kosdaq-listed common shares affiliated with the conglomerate rose 30.6 percent to 476 trillion won as of Sept. 28, from
Oct. 9, 2017
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Kona I, AirPlus to offer biometric corporate cards
Korean fintech firm Kona I has partnered with payment services provider AirPlus International to offer cards using biometric authentication technology, according to the firm Sunday. The technology will enable cardholders to use fingerprints for verification instead of personal identification numbers or signatures. The firm expects to “speed up transaction time and provide increased convenience and security” through the biometric authentication. Cardholders will not need to char
Oct. 8, 2017
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Kospi rises 5th-fastest among major indices of G-20
South Korea’s main bourse index Kospi rose the fifth-fastest among the major indices of Group of 20 economies this year, data compiled by Korea Exchange showed Sunday.The Kospi soared 17.1 percent this year from 2,026.46 to 2,372.57 as of Sept. 27, following those of Argentina, Turkey, Brazil and Italy. Argentina’s Merval Index topped the list by jumping 49.4 percent over the cited period. This came in sync with the rallies in the G-20 countries. Nine of them saw their major indices
Oct. 8, 2017
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Forbes launches French edition to chart 'startup nation'
Business magazine Forbes, famous for its annual ranking of the world's wealthiest, is launching a French edition to chart President Emmanuel Macron's progress in turning his country into a "startup nation".Forbes is a fortnightly magazine but the French-language edition, which will hit newsstands Friday, will be published only every three months.The first issue will retrace the 100-year history of the publication and look ahead to the next 100 through interviews with business magnates
Oct. 6, 2017
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[News Focus] Securities firms seek new lending rights
Financial authorities in South Korea are set this month to grant investment-banking licenses to local equity firms and allow short-term corporate lending, but concerns are emerging as that it might undermine the firms’ financial stability.The authorities are reportedly making final touches to their three-month screening process to grant licenses as part of the push to foster big investment banks. Investment banks in excess of 4 trillion won ($3.5 billion) in equity capital will be eligible
Oct. 6, 2017
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[Kosdaq Star] Nexon GT enjoys surprising month on new release, blockchain business
This is the 42nd in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdTwo pieces of good news gave mobile game developer Nexon GT an unexpected month of stellar performance on the stock market. The Kosdaq-listed Nexon GT’s strong performance in September mainly stemmed from its wholly-owned subsidiary Nexon Red’s new game release “AxE” on Sept. 14. In addition, on Wednesday, Nexon GT’s holding company NXC ventured into the b
Oct. 1, 2017
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Korean stocks end higher on institutional buying
South Korean stocks closed higher Friday as institutional investors and foreigners bought large-cap stocks ahead of a long holiday next week. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 21.33 points, or 0.90 Percent, to 2,394.47.South Korea's stock markets will be closed from Oct. 2 through Oct. 9 as people celebrate Chuseok -- the equivalent to Thanksgiving Day in the US -- and two other national holidays. The main index advanced for a sec
Sept. 29, 2017
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Bank of Korea offers net W7tr in liquidity ahead of Chuseok holiday
The Bank of Korea said Friday it has injected a net 7 trillion won ($6.1 billion) in liquidity into the financial system to help keep the money supply stable ahead of the Chuseok holiday. The central bank said its money injection for the 10 business days leading up to the holiday jumped 43.3 percent from a year ago as this year's holiday is the longest in decades. The government gave everyone Monday off to boost domestic consumption, while this year's Chuseok is preceded and followed by other na
Sept. 29, 2017
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Korean stocks extend gains
South Korean stocks extended gains late Friday morning as institutions turned buyers offsetting foreign selling. The benchmark Korea Composite Stock Price Index rose 13.14 points, or 0.55 percent, to 2,386.28 as of 11:20 a.m.The main index rose for a second consecutive session after a week-long losing streak due to foreign selling. Foreigners continued to sell local stocks for a fifth straight session, offloading about 830 billion won ($725 million) stocks in the past four sessions amid ris
Sept. 29, 2017
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Seoul stocks open higher on foreign buying
South Korean stocks opened higher Friday on a wave of bargain hunting. The Korean won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 10.04 points, or 0.42 percent, to 2,383.18 in the first 25 minutes of trading.Foreigners became net buyers after dumping more than 830 billion won ($725 million) worth of stocks in the past four sessions due mainly to rising tensions between North Korea and the United States over the former's nuclear and missile development programs.&
Sept. 29, 2017
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Korea reassures economy intact despite NK tension
The South Korean government on Thursday continued to reassure on the economy’s stability despite escalating security tensions on the Korean Peninsula, as pundits also raised caution that the new level of risk may affect the markets.Deputy Prime Minister and Finance Minister Kim Dong-yeon on Thursday held a ministerial-level meeting to review and discuss the pending situation and economic policies in Seoul.“The persisting North Korea risk is touching off a bit of concerns, but Korea&r
Sept. 28, 2017
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Korean stocks end higher on expectations of solid Q4 earnings
South Korean stocks ended slightly higher Thursday as investors bought large-cap stocks on expectations of solid fourth quarter earnings, ending a seven-session losing streak. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 0.57 points, or 0.02 percent, to 2,373.14.Lee Kyung-min, an analyst at Daishin Securities, said investors purchased large-cap stocks in auto, tech and chemical sectors in anticipation of their strong earnings in the July-Septem
Sept. 28, 2017
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Korea to take market-stabilizing measures to deal with possible FX fluctuation
South Korea will take market-stabilizing measures if the country's foreign exchange becomes more exposed to volatility due to an external shock, a senior finance ministry official said Thursday."Foreign exchange rates will be decided autonomously by the market," Deputy Finance Minister Hwang Kun-il said at a symposium in Seoul. "But the government will take action if the rates experience a wide fluctuation in line with standing procedures." He said the government will be
Sept. 28, 2017