Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Graphic News] S. Korea 3rd-largest chip materials market in 2020: report
South Korea, home to chipmaking giants such as Samsung Electronics and SK hynix, was the world's third-largest market for semiconductor materials in 2020, a report showed, moving down one spot from a year earlier after posting an under-par industry average growth. The country's chip materials market grew 3.9 percent on-year to $9.23 billion in 2020, according to the report from SEMI, a global industry association representing companies in the electronics design and manufacturing supply c
April 13, 2021
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ABS issuance dips 39.7% in Q1
The issuance of asset-backed securities (ABS) in South Korea plunged 39.7 percent in the first quarter due to a sharp decline in sales of government-led mortgage funds, data showed Tuesday. The value of ABS issues stood at 13.7 trillion won ($12.1 billion) in the quarter, down 9 trillion won from a year ago, according to the data from the Financial Supervisory Service (FSS). ABS are structured with mortgages, auto loans, credit-card receivables and student loans as underlying assets. The plun
April 13, 2021
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Seoul stocks open higher on hopes of earnings hike
South Korean stocks opened higher Tuesday as investors pin their hopes on a fast global economic rebound ahead of the earnings season. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.6 point, or 0.56 percent, to 3,153.19 points in the first 15 minutes of trading. Stocks got off to a strong start despite increased valuation pressure as brokerages projected strong quarterly performances by local big-name companies. Investors are also relieved by the US Federal Reserve chairman'
April 13, 2021
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Ginseng improves flu vaccine effectiveness in mice: research
Ginseng can help boost the effectiveness of flu vaccines used on mice, and is also helpful in protecting respiratory organs, Korea Ginseng Corp.’s research institute said Monday. According to a study by KGC’s Korea Ginseng Research Institute, ginseng intake increases the protective effect of vaccines compared to when the vaccine is used alone. The Korean ginseng company also cited research dubbed, “Protective Effect of Korean Red Ginseng Extract on the Infections by H1N1 a
April 12, 2021
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S. Korean biotech firms eying phase 3 clinical trials of COVID-19 vaccines
Five South Korean biotech companies are pushing for phase three clinical trials of COVID-19 vaccines in the second half of this year, the health ministry said Monday. The government plans to inject about 68.7 billion won ($61 million) this year for the clinical trials of COVID-19 vaccines by SK Bioscience Co., EuBiologics Co., Cellid, Genexine and GeneOne Life Science, the ministry said. The ministry made the announcement in a report to President Moon Jae-in. Also Monday, the Ministry of Food
April 12, 2021
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Kosdaq sees 1st close above 1,000 points in 20 years
South Korea’s tech-heavy Kosdaq ended at a two-decade high on Monday, surpassing a 1,000-point threshold on rallies of secondary battery and bio shares. The secondary index ended trading at 1,000.65 points, up 11.26 points or 1.14 percent, from the previous session’s close. Both foreign and institutional investors purchased a net 36.2 billion won ($32.17 million) and 100 million won, respectively, while retail investors dumped 19.5 billion-won worth of shares. Among the top 10 l
April 12, 2021
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South Korea pays keen attention to upcoming US semiconductor bill
The South Korean government and experts in the semiconductor industry are paying close attention to a meeting hosted by the White House on Monday in the US. According to Seoul-based government officials and industry experts, concerns exist about recent moves by the US government to reinforce its chip industry in terms of Korea’s industrial competitiveness and Korean chipmakers’ global operations. The moves by the Biden administration -- the review of America’s sem
April 12, 2021
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[#WeFace] ‘Embrace ESG principle as incentive’
The government should not set legal requirements for companies adopting environmental, social and corporate governance, or ESG, principles, but should instead provide incentives for those accepting green and ethical management practices voluntarily, a top lawyer said. Lim Sung-taek, a managing partner at law firm Jipyong, said in an interview that excessive state-imposed restrictions regarding ESG commitments could lead to market backlash because ESG is about paradigm shifts created by ma
April 12, 2021
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Moon’s housing policy faces call for review after election defeat
The election of Seoul’s new mayor has left the central government’s housing policies in limbo, as the administration is expected to face pushback from the conservative bloc that is campaigning to ease real estate regulations. The political realignment following the results of the by-election last week has sparked concerns over possible policy shifts for the property market. The government and ruling Democratic Party of Korea are expected to hold talks to revise real estate policies
April 12, 2021
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What next after LG-SK battery dispute end?
The dramatic reconciliation between archrivals LG Energy Solution and SK Innovation has allowed the latter to salvage its two electric vehicle battery factories in the US state of Georgia and supply batteries to Volkswagen and Ford as planned. But further challenges lie ahead, industry analysts said Monday. The two-year dispute between LG Energy Solution and SK Innovation over battery technologies jeopardized the operations of the Georgia plant. This battery supply chain risk motivated majo
April 12, 2021
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Institut Pasteur Korea partners with Genexine for global clinical trials of COVID-19 vaccine
Institut Pasteur Korea announced Monday that it had signed an agreement with Genexine to offer support for the latter’s global clinical studies of COVID-19 vaccine candidate GX-19N. IPK said it would help Genexine conduct clinical studies of GX-19N and examine the efficacy of GX-19N against COVID-19 variants. According to Genexine, the vaccine candidate, which contains an antigen targeting the coronavirus’ nucleocapsid protein, is potentially effective against COVID-19 variants.
April 12, 2021
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Seoul stocks inch up amid valuation pressure, KOSDAQ closes at 21-year high
South Korean stocks inched up on Monday, as investors took to the sidelines amid increased valuation pressure and uncertainties from the Sino-American political friction. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 3.71 points, or 0.12 percent, to close at 3,135.59. Trading volume was moderate at about 1 billion shares worth around 13.1 trillion won ($11.6 billion), with gainers outnumbering losers 493 to 350. F
April 12, 2021
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Samsung BioLogics, Kakao and Hyundai Motor compete to join KOSPI's top 5 club
Samsung BioLogics, Kakao and Hyundai Motor are competing to be the fifth-largest company in terms of market capitalization in South Korea. According to Korea Exchange on Monday, Samsung BioLogics is currently holding fifth place on the country’s main bourse Kospi, with a market cap of 51.7 trillion won ($45.9 billion). Kakao and Hyundai Motor closely follow with 49.5 trillion won and 48.2 trillion won, respectively. Competition for the fifth spot has recently escalated after Kakao&rsqu
April 12, 2021
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[News Focus] Coupang, E-mart, Market Kurly join race to offer cheapest price as competition grows
Major e-commerce giants in South Korea are offering the cheapest prices and free delivery to keep an edge over their rivals, as competition grows amid the pandemic-fueled online shopping boom. E-commerce grocer Market Kurly was the latest to ramp up competition on Monday as it announced its “Every Day Low Price” -- a lowest-price guarantee program for some 60 food products. The new measure will see the platform offer products such as rice, instant noodles, fresh vegetables and fru
April 12, 2021
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Pan Ocean signs another bunkering ship deal with Shell
Pan Ocean Co., South Korea's second-largest shipper by sales, said Monday it has signed another deal with global oil giant Shell NA LNG, LLC (Shell) for the lease of a liquefied natural gas (LNG) bunkering ship for six years. Under the $55-million deal, the 18,000-cubic meter LNG bunkering ship to be built by Hyundai Mipo Dockyard Co. will be put into operation for Shell by May 2023, the company said. The deal to be effective by May 2029 has an option to extend the lease period by two years.
April 12, 2021
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Macquarie IM Korea rebranded after local PEF assumes control
Macquarie Investment Management Korea has been rebranded as Feynman Asset Management upon an acquisition deal proposed by a South Korean private equity firm, the company said Monday. The asset management company, which oversees some 1.3 trillion won ($1.2 billion) worth of assets, has named Kim Eun-soo to lead the company. Kim is the former head of the Korean unit of Hong Kong-based Mason Group Holdings. Feynman Invest, a fledgling private equity firm, gained regulatory approval from the Fin
April 12, 2021
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Foreigners to return net buyers after extending sell-offs
Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a fourth consecutive month, but some market experts have a positive outlook on their return. “Foreigners’ net purchase has lately occurred to Kospi since the index is still relatively undervalued (compared to other key indexes) amid growing recovery hopes for global economy and business profits,” Daishin Securities analyst Lee Kyung-min wrote in a report Monday. Accord
April 12, 2021
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Posco Q1 operating earnings up 120% to W1.55tr
South Korea's leading steelmaker Posco estimated Monday its first-quarter operating profit hit the highest point in 10 years on robust demand amid global economic recovery from the COVID-19 pandemic. Operating profit for the January-March quarter jumped to 1.55 trillion won ($1.4 billion) from 705.3 billion won during the same period of last year, the company said in a regulatory filing. It marked the highest quarterly operating profit since the steelmaker reported 1.7 trillion won in the se
April 12, 2021
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Banks to tighten grip on loans in Q2 amid pandemic: poll
Banks in South Korea are expected to tighten their lending to households and big companies in the second quarter of this year, as credit risks will remain high amid the pandemic, a central bank poll showed Monday. The Bank of Korea's index measuring the banks' attitude toward fresh loans came to minus 2 for the second quarter. The lower the reading, the more likely banks will tighten their restrictions on lending. A reading below zero means that the number of lenders that will restrict lending
April 12, 2021
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Korea Shipbuilding wins W227b in orders for 3 ships
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has obtained a combined 227 billion won ($202 million) worth of orders to build three liquefied petroleum gas (LPG) carriers. Under the deal with an Asian company, Hyundai Samho Heavy Industries Co., a unit of KSOE, will deliver two 86,000-cubic meter LPG carriers starting in the first half of 2023, KSOE said. Another deal with an Oceanian company calls for Hyundai Mipo Dockyard Co., another KSOE unit, to deliver a 40,000-
April 12, 2021