Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Hanwha Solutions stocks plunge as Nikola doubt deepens
Shares of Hanwha Solutions plunged Monday immediately after electric vehicle developer Nikola announced a leadership shakeup, as it faces a heap of fraud allegations and an upcoming probe. Hanwha Solutions common shares retreated 7.4 percent Monday, while its preferred stocks dipped 10 percent. Hanwha Solutions, a Seoul-based petrochemical arm of the Hanwha conglomerate, indirectly controls a minority stake in Nikola. Nikola fetched a combined $100 million of funding evenly from Hanwha Ene
Sept. 21, 2020
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[Market Close-up] W520b per BTS member? Market worth of K-pop stars in limelight as agency IPO nears
With a mere estimate of the market value of Big Hit Entertainment, the label behind BTS, reaching nearly 4.6 trillion won ($3.97 billion) after listing, eyes are on the seven-member boy band that generates most of the company’s revenue. The K-pop agency is scheduled to make its market debut on South Korea’s main bourse, Kospi, in October, offering 7.13 million shares at a price between 105,000 won and 135,000 won per share. Its market capitalization is anticipated to reach nearly
Sept. 21, 2020
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Litigations pile pressure on Mirae Asset Group
Korean investment banking group Mirae Asset Group is being swamped by litigations at home and abroad, including one against China’s Dajia Insurance Group surrounding high-profile hotel deals in the United States, filings showed Monday. As of the end of June, the total litigation costs incurred to brokerage house Mirae Asset Daewoo and its affiliates could exceed 7 trillion won ($6 billion) if the group loses all 35 lawsuits in which it is involved. The cost has gone up from 68.8 billion
Sept. 21, 2020
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Apartment transactions dive amid lingering market anxiety
Confusion in South Korea‘s real estate market has continued with the transaction volume of Seoul apartments taking a dive while a buying drive by 30-somethings concerned over further price hikes remained strong last month, data showed Monday. According to data released by the state-run Korea Appraisal Board, a total of 6,880 apartment units changed hands in Seoul last month, down 57 percent from 16,002 in July. Apartment transactions reached a fever pitch in 2019 with the sales volume
Sept. 21, 2020
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Hyundai Motor Group's market value recovers to 100 tr won
The market value of South Korean auto giant Hyundai Motor Group has recovered to the 100 trillion-won ($85.9 billion) level after more than 28 months thanks to brisk sales of hydrogen and electric vehicles, data showed Monday. The total market capitalization of Hyundai Motor Co. and 11 other listed subsidiaries came to 100.2 trillion won as of Thursday, according to the data from the Korea Exchange. South Korea's leading automaker was valued at 39.3 trillion won, with No. 1 auto parts manufac
Sept. 21, 2020
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Seoul stocks dip almost 1% amid valuation pressure
South Korean shares fell below the 2,400 mark on Monday, as lingering valuation pressure drove down the key index. The Korean won rose against the U.S. dollar to the highest level in eight months. The benchmark Korea Composite Stock Price Index (KOSPI) lost 23.01 points, or 0.95 percent, to close at 2,389.39. Trading volume was high at about 1 billion shares worth some 14 trillion won ($12.1 billion), with losers outnumbering gainers 694 to 168. Foreigners sold a net 77 billion won, while re
Sept. 21, 2020
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Hyundai Motor Group returns to W100tr club
The combined market capitalization of Hyundai Motor Group affiliates surpassed the 100-trillion won ($85.9 billion) mark last week on the back of market expectation on its strength in green vehicle technology, data showed Monday. As of Thursday, the auto giant‘s 12 listed affiliates had a combined market capitalization of 100.2 trillion won, re-entering the 100-trillion-won club for the first time in 28 months, according to the Korea Exchange. Of the total, the combined market va
Sept. 21, 2020
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Seoul stocks open tad higher on chip, auto gains
South Korean shares opened a tad higher Monday, led by chip and auto gains on the main bourse. The Korea Composite Stock Price Index (KOSPI) rose 5.67 points, or 0.24 percent, to 2,418.07 in the first 15 minutes of trading. Market bellwether Samsung Electronics added 0.51 percent, with No. 2 chipmaker SK hynix advancing 0.84 percent. Hyundai Motor, the country's largest automaker, jumped 3.59 percent, and its smaller affiliate Kia Motors leaped 3.97 percent. Internet portal giant Naver ga
Sept. 21, 2020
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[Herald Interview] Korea Investment & Securities pioneers AI-powered stock analysis
Customer service chatbots and investment robo-advisers have been in place for a while in South Korea, but Korea Investment & Securities recently kicked finance’s use of artificial intelligence up a notch with automatically generated reports for investors. The leading brokerage launched “AIR” or AI Research -- the first local AI-based investment reports -- in July. It is a service Yun Hee-do, head of research at KIS, thinks will help keep the firm competitive by enabling
Sept. 20, 2020
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Banks’ credit loans see sudden drop amid authorities’ warnings
Major South Korean banks are on the path of tightening their extension of personal unsecured loans, apparently responding to the financial authorities continued efforts to curb “excessive lending.” Outstanding personal loans extended by five major lenders here -- KB Kookmin, Shinhan, KEB Hana, Woori and NH NongHyup -- fell to 126.9 trillion won as of Thursday, down 243.6 billion won ($209.3 million) from the previous day, data showed Sunday. This marked a sharp turn from the extend
Sept. 20, 2020
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[Market Close-up] Retail investor power brings stock market back to life
Six months after plunging to a record low amid the COVID-19 pandemic, South Korea’s stock indicators are apparently experiencing a full recovery, hitting fresh yearly highs mostly on the back of retail investors. According to the country’s bourse operator, the Korea Exchange, the benchmark Kospi as of Friday marked a 65.50 percent rise from the record-low 1,457.64 observed six months earlier. The secondary Kosdaq soared 107.51 percent from 428.35 during the same period. Buttressi
Sept. 20, 2020
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Seoul stocks advance 65% over past 6 months led by bio, tech
South Korea's stock market advanced a whopping 65 percent over the past six-month period despite the global virus pandemic, on the back of pharmaceutical and technology shares, data showed Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) on Friday ended at 2,412.40 points, up 65.5 percent from six months ago, according to the main bourse operator Korea Exchange (KRX). The country's stock rally marked the second-highest rise among G-20 countries, following Argentina's 87 percent
Sept. 20, 2020
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Seoul to accept applications for low-rent office space in Yeouido
The Seoul Metropolitan Government said Friday that it is scheduled to accept new applicants for a program that offers office space for foreign financial firms at affordable prices in Yeouido, a financial hub in the city. The municipal government plans to run the Seoul International Financial Office on the 16th floor of the One IFC building. Eligible applicants include foreign or South Korean financial institutions, and finance-related international organizations or nonprofit corporations enter
Sept. 18, 2020
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LG Chem stocks rebound as split-off jitters ease
The stock price of petrochemical-to-battery company LG Chem rebounded Friday after a sharp loss immediately after its announcement during trading hours Thursday that it would split off its battery operation. LG Chem shares climbed 3.3 percent in the Friday trading session. LG Chem is the fifth-largest stock on the main bourse, Kospi, with 47.1 trillion won ($40.6 billion) market cap. The slight recovery came after the Seoul-based company unveiled plans to carve out its battery unit under a ne
Sept. 18, 2020
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Seoul stocks snap two-day losing streak on massive foreign buying
South Korean stocks snapped a two-session losing streak on Friday, helped by strong foreign buying that offset individuals' profit-taking rush. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.23 points, or 0.26 percent, to close at 2,412.40. Trading volume was moderate at about 744 million shares worth some 13.7 trillion won ($11.8 billion), with losers outnumbering gainers 433 to 416. After a 1.22 percent drop in the previous session
Sept. 18, 2020
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Military Mutual Aid Association shows outstanding return-on-asset performance
The Military Mutual Aid Association, which provides pension services for military personnel, has been the most profitable mutual aid association in South Korea for the past three years, business data tracker CEO Score Daily said Friday. Currently, the nation has seven large mutual aid associations, including the Public Officials Benefit Association, the Korea Local Finance Association, the Police Mutual Aid Association and the Korean Teachers’ Credit Union. The MMAA’s return on
Sept. 18, 2020
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Shinhan BNP Paribas vows climate action through asset management
South Korean asset manager Shinhan BNP Paribas Asset Management said Friday that it would beef up efforts to take climate change into account in its asset management business, as part of its green finance and impact investing. Under its climate action declaration released Friday, the joint venture of Shinhan Financial Group and BNP Paribas Asset Management will consider the impact its investment decisions and financial products could have on climate change. It is the first such declaration in
Sept. 18, 2020
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Seoul stocks open higher on battery, bio rebound
South Korean stocks opened higher Friday, led by a rebound in battery and bio heavyweights. The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.25 percent, to 2,412.2 in the first 15 minutes of trading. The KOSPI rebounded after the index lost 1.22 percent in the previous session. Battery and biopharmaceutical large caps fared strong, while auto-related shares dipped.Leading chemical company LG Chem jumped 2.33 percent, a day after it announced its decisi
Sept. 18, 2020
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IOC welcomes Kyobo chairman as head of Youth Olympic committee
The International Olympic Committee has sent a congratulatory letter to life insurance firm Kyobo Life Chairman Shin Chang-jae, who has been appointed as the organizing chief for the Gangwon 2024 Winter Youth Olympic Games. While congratulating Shin’s appointment, Thomas Bach, the IOC president, expressed expectations for the quadrennial global sports event, which is scheduled to be held in Gangwon Province. “Considering the chairman’s contributions to youth sports and cult
Sept. 17, 2020
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Individual investors pour W100tr into stocks during pandemic
The amount of money local retail investors have poured in the local and overseas stock markets has reached more than 100 trillion won ($85.2 billion), according to data released by the nation’s sole securities operator Korean Exchange on Thursday. Individual traders bought a total of 55.9 trillion won in the local market this year as of Wednesday. Of the total, 43.5 trillion won went to the main bourse Kospi, and the rest, or 12.4 trillion won, to the tech-heavy Kosdaq. Investor deposit
Sept. 17, 2020