Most Popular
-
1
Korean labor force to shrink by 10 million by 2044: report
-
2
[AtoZ Korean Mind] Does your job define who you are? Should it?
-
3
Allegations surrounding BTS resurface, enraged fans demand apology
-
4
Students with history of violence will be barred from becoming teachers
-
5
Probe of first lady on Dior bag allegations set to begin
-
6
'Super Rich in Korea' will leave viewers appreciating Korea more: producers
-
7
Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
-
8
Medical feud leaves hospitals in financial crisis
-
9
'Queen of Tears' riding high on Netflix chart
-
10
Chip up cycle won’t stay long: SK chief
-
Seoul stocks open tad higher amid investor wariness of bond yield hike
South Korean stocks opened slightly higher Wednesday as investors took a wait-and-see mode over prospects of a post-pandemic bond yield hike. The benchmark Korea Composite Stock Price Index rose 3.88 points, or 0.13 percent, to 3,047.75 points in the first 15 minutes of trading. The KOSPI got off to a muted start after the three key stock indexes on Wall Street dipped over speculation of early inflation, heralded by a bond yield hike late last week. Overnight, the tech-heavy Nasdaq Composit
March 3, 2021
-
Seoul stocks up 1% on eased inflation woes
South Korean stocks rebounded from last week's sharp plunge Tuesday to end 1 percent higher on eased inflation concerns, but they pared part of earlier gains in the face of profit-taking. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.92 points, or 1.03 percent, to close at 3,043.87 points after rising as high as to 3,096.50. Trading volume was moderate at about 1.7 billion shares worth around 18.5 trillion won ($16.5 billion), with g
March 2, 2021
-
Coupang Inc. seeks up to $3.6b through listing on NYSE
Coupang Inc. looks to raise as much as $3.6 billion in fresh funds via an initial public offering, which would likely be among the largest deals in the US market this year. In a regulatory filing submitted to the US Securities and Exchange Commission on Monday there, Coupang Inc. said it plans to offer 120 million shares -- 100 million new Class A shares in the IPO and 20 million shares to existing investors -- in a price band between $27 and $30. The firm will consist of two classes of commo
March 2, 2021
-
[EXCLUSIVE] Coupang IPO rumored to take place March 10
Anticipation for the listing of South Korean e-commerce firm Coupang has been growing as the company’s initial public offering, which will be the fourth largest of an Asian firm on the New York Stock Exchange, is just around the corner. Although the Korean firm based in Seoul has not yet announced the exact IPO date, it is said to have decided to list its shares next week, a source familiar with the matter told The Korea Herald. “The listing date has been set for March 10,&rdquo
March 2, 2021
-
SK hynix shares hit new high on chip shortage
The share price of South Korean semiconductors manufacturer SK hynix hit an all-time high during intraday trading Tuesday in hopes of a first-quarter earnings surprise due to global chip shortage. At around 9:10 a.m. Tuesday, SK hynix‘s stock price touched 150,500 won ($134), up 5.3 percent from the Friday session’s closing price, bringing its total market capitalization to nearly 110 trillion won. The closing price Tuesday was 144,500 won, up 2.1 percent from Friday and 57 percent
March 2, 2021
-
AlixPartners hires ex-Samsung executive for ICT capability
Consulting firm AlixPartners said Tuesday it has hired Kim Joo-wan, former senior executive at Samsung Electronics, as a new director in the Seoul office to enhance its counsulting capability in the field of information, communication and technology. AlixPartners said Kim has had experience in consulting, cutting-edge technology, and IT business operation over the course of his 25-year career. Prior to joining AlixPartners, Kim was a corporate vice president at Samsung Electronics, leading g
March 2, 2021
-
Loan maturity extended for 6 months
South Korea’s financial regulator said Tuesday it has extended the grace period for loan repayments until September as part of policy effort to support individuals and businesses reeling from the resurgence of the COVID-19 pandemic. “In response to small-and medium-sized enterprises and merchants’ economic difficulties wrought by the prolonged social distancing rules amid the virus resurgence, the Financial Services Commission and financial circles have decided to exte
March 2, 2021
-
Seoul stocks open steeply higher on eased bond yield concerns
South Korean stocks opened steeply higher Tuesday, tracking an overnight Wall Street rally that stemmed from eased concerns about the impacts of a bond yield hike. The benchmark Korea Composite Stock Price Index (KOSPI) rose 81.62 points, or 2.71 percent, to 3,094.57 points in the first 15 minutes of trading. Stocks got off to a bullish start after a three-day holiday weekend on strong institutional and foreign buying. Foreigners, who net sold a record 2.8 trillion won ($2.5 billion) the p
March 2, 2021
-
Average daily export volume hits new high in February
South Korea saw the volume of exports continue growing for a fourth consecutive month in February, showing signs of recovery from the coronavirus crisis, on the back of strong chip and automobile demand. According to the Ministry of Trade, Industry, and Energy on Monday, outbound shipments came to $44.81 billion last month, up 9.5 percent from the previous year. The average daily export volume increased 26.4 percent to reach $2.3 billion -- the largest for the month. The on-year export growth
March 1, 2021
-
[Herald Interview] Tailored foreign investing advice gets new twist
Collector of Korean art, TV celebrity, motivational speaker and investment adviser -- those are just a few of the titles Mark Tetto, 40, has under his belt. After about 10 years of living in Seoul, the Italian American multihyphenate is taking on a new challenge in leading Topor & Co. Korea, one of the first investment advisers in South Korea that handles private wealth management for wealthy families. In the past five years as a partner at TCK, his primary focus was to manage a globally d
March 1, 2021
-
Pension funds extend stock selling streak to 42nd straight session
South Korean pension funds logged a record-long selling spree of local stocks, extending net selloffs to a 42nd consecutive session. While the unloading trend extended during a recent market correction period, experts predict their selling will likely to continue at least until June this year. The combined net sales of the pension funds came to 12.98 trillion won ($11.57 billion) so far this year. In February, they sold a net 4.58 trillion won -- 4.32 trillion won on the main bourse Kospi an
March 1, 2021
-
Asia markets stage rebound after last week's rout
HONG KONG (AFP) -- Equities rose in Asia on Monday as investors took a breather following last week's heavy selling, with a drop in US Treasury yields giving markets some much-needed stability, while the passage of Joe Biden's stimulus through the House provided some cheer. However, observers warned that trading floors were still gripped by fears the expected global economic recovery will fuel inflation and force a hike in interest rates earlier than previously thought, removing a key pillar of
March 1, 2021
-
Institutional investors bet on stock market decline
Amid lingering market uncertainties alongside rising US Treasury yields, local institutional investors seem to have started betting against the equity market, investing in inverse exchange traded funds. Inverse ETFs are designed to make money when target stocks or underlying indexes decline in value. According to data compiled by the nation’s sole securities exchange operator Korea Exchange, investment companies, including stock brokers, bought some 200 billion-won ($177.6 million) wor
Feb. 28, 2021
-
Demand for Seoul apartments down slightly: report
Demand for apartments in Seoul inched down last week, data showed, after the government rolled out a series of supply measures Feb. 4. According to data collected by the state-run Korea Appraisal Board, an index that gauges supply and demand for apartments dropped by 0.8 points to 109.8 last week, compared with 110.6 marked in the previous week. A rating above 100 means demand exceeds supply. After seeing bouts of fluctuations, the index had risen for 10 straight weeks since the last week o
Feb. 28, 2021
-
Korean REITs’ AUM rises 26% to W65tr
The combined assets under management by South Korea’s real estate investment trusts came to 65.3 trillion won ($58 billion) as of end-January, preliminary data showed Sunday. The total volume rose 26 percent from the previous year, indicating a moderately growing market, according to the Korea Association of Real Estate Investment Trusts. A REIT refers to a company designed to offer annual dividend returns to its investors in return for investment in securitized real estate. By asset t
Feb. 28, 2021
-
[Herald Interview] Avoiding regulatory overlap crucial for Seoul to become financial hub: BNP Paribas head
South Korea could be home to international financial behemoths if the government avoids regulatory overlap and takes a more flexible approach to operational issues faced by foreign banks in the rulemaking process, the head of BNP Paribas South Korea said. In an interview with The Korea Herald, Philippe Noirot, head of territory for BNP Paribas South Korea, said “overlapping regulations” may pose hurdles for foreign financial institutions’ to enter into the South Korean m
Feb. 28, 2021
-
Retail buying approaches W100tr over 14 months as stocks face correction
South Korea’s retail investors have bought a combined net 99.2 trillion won ($88 billion) on the domestic stock markets since January 2020, Korea Exchange data showed Sunday, as the bourse faces a market correction on a surge in bond yield. The figure is a combination of individuals’ net buying on the main board Kospi and the development board Kosdaq, both operated by the KRX, from January 2020 until February this year. In the first two months of 2021, individual investors net pu
Feb. 28, 2021
-
Seoul stocks likely to remain choppy next week on inflationary woes
South Korean stocks are likely to face choppy trading next week following this week's highly volatile trading, as concerns about a US Treasury yields hike may continue to fuel heavy selling by foreign investors here. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,012.95 points Friday, down 3.05 percent from a week ago. Foreigners dumped a net 2.1 trillion won ($1.9 billion) at the main bourse this week as the yields of benchmark 10-year US Treasury fueled inflation worri
Feb. 27, 2021
-
Like hot tech shares, Bitcoin falls as US bond yields rise
Bitcoin declined Friday, falling below 53 million won ($48,100) in the week that the largest cryptocurrency is suffering its worst pullback in a year. The digital currency fell to as low as 52.88 million won in the afternoon, plunging almost 20 percent from Sunday’s record high of 65.84 million won. Bitcoin’s volatility coincided with a slump in stock markets with investors wary over a sharp rise in US bond yields, hurting steep valuations of tech companies. The te
Feb. 26, 2021
-
Financial authorities to inspect firms’ selling of foreign currency insurance
South Korea’s financial authorities plan to launch an industry-wide probe into insurers selling foreign currency insurance -- which has been gaining popularity here in recent years -- next month, on allegations of possible misselling of the high-risk products, sources said Friday. When customers subscribe to foreign currency insurance in Korea, they pay an insurance premium with foreign currency, the most popular being the US dollar, and receive payments with the same currency. The natio
Feb. 26, 2021