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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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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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Second Gimpo civil servant found dead, after apologizing for not finishing work
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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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Seoul shares open higher after Fed rate pause
South Korean stocks opened higher Thursday, as investors digested the US Federal Reserve's pause in raising the interest rates and its signal that there still will be more rate hikes in the coming months. The benchmark Korea Composite Stock Price Index gained 12.08 points, or 0.46 percent, to 2,631.16 in the first 15 minutes of trading. The Fed held the interest rates steady in the range of 5.00 percent to 5.25 percent in its policy meeting Wednesday, the first such pause in the series of r
June 15, 2023
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Seoul shares end lower ahead of Fed's rate decision
South Korean stocks finished lower Wednesday as investors awaited the outcome of the Federal Reserve's rate-setting meeting. The Korean won fell against the US greenback. The benchmark Korea Composite Stock Price Index lost 18.87 points, or 0.72 percent, to close at 2,619.08. Trading volume was high at 644 million shares worth 12.9 trillion won ($10.1 billion), with the number of decliners sharply outnumbering gainers 659 to 237. Institutions dumped a net 127.8 billion won worth of local sh
June 14, 2023
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Seoul shares open tad lower ahead of Fed's rate decision
South Korean stocks opened slightly lower Wednesday as investors remained cautious over the Federal Reserve's rate decision later this week. The benchmark Korea Composite Stock Price Index fell 6.17 points, or 0.23 percent, to 2,631.78 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.43 percent and the Nasdaq gained 0.83 percent as a modest rise in April inflation fueled hopes for the Fed's rate pause. In Seoul, most shares traded mixed. Market bel
June 14, 2023
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Seoul shares open higher on hopes for Fed's rate pause
South Korean stocks started higher Tuesday, as investors awaited US inflation data and the Federal Reserve's rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index rose 11.4 points, or 0.43 percent, to 2,640.75 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.56 percent and the Nasdaq Composite jumped 1.53 percent. The US central bank is set to have its two-day meeting starting Tuesday. In Seoul, large-cap shares led the b
June 13, 2023
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Seoul shares end lower ahead of Fed's rate decision
Seoul shares ended lower Monday as investors await the US Federal Reserve's interest rate decision this week. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index fell 11.81 points, or 0.45 percent, to close at 2,629.35. Trading volume was moderate at 547.41 million shares worth 9.25 trillion won ($7.2 billion), with decliners outpacing gainers 576 to 303. The Dow Jones Industrial Average rose 0.1 percent to 33,876.78 on Friday (US
June 12, 2023
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Seoul shares open tad higher ahead of Fed meeting
South Korean stocks started a tad higher Monday ahead of the US Federal Reserve's rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index rose 3.64 points, or 0.14 percent, to 2,644.8 in the first 15 minutes of trading. In a meeting to be held Tuesday and Wednesday, the US central bank is expected to end its hawkish approach and hold the key rates unchanged. Seoul shares traded mixed across the board. Market bellwether Samsung Electronics Co. stayed flat and it
June 12, 2023
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Seoul shares end higher ahead of Fed's rate decision; Korean won sharply up
Seoul shares ended higher Friday amid expectations that the US Federal Reserve may pause its rate hike march next week. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 30.31 points, or 1.16 percent, to close at 2,641.16. Trading volume was moderate at 569.97 million shares worth 10.79 trillion won ($8.4 billion), with gainers outpacing losers 488 to 376. Institutions and foreigners bought a combined 842 billion won worth of stocks, offsetti
June 9, 2023
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Seoul shares open higher ahead of Fed rate decision
Seoul shares opened higher Friday, tracking overnight gains on Wall Street, with investors awaiting the US Federal Reserve's rate decision next week. The benchmark Korea Composite Stock Price Index rose 10.85 points, or 0.42 percent, to 2,621.70 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 33,833.61 and the Nasdaq Composite climbed 1 percent to 13,238.52. In Seoul, tech, auto and airline stocks led gains. Market bellwether Samsung Elect
June 9, 2023
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Seoul shares end lower amid rate hike woes
Seoul shares finished lower Thursday, as rate hike fears resurfaced ahead of US inflation data and the Federal Reserve's rate decision next week. The Korean won rose slightly against the US dollar. The benchmark Korea Composite Stock Price Index fell 4.75 points, or 0.18 percent, to close at 2,610.85. Trading volume was moderate at 570.8 million shares worth 11.25 trillion won ($8.63 billion), with losers outpacing gainers 503 to 369. Institutions and retail investors scooped up a net 316.1
June 8, 2023
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Seoul shares open lower amid rate hike woes
Seoul shares opened lower Thursday as investors await key US inflation data and the Federal Reserve's rate decision next week. The benchmark Korea Composite Stock Price Index ticked down 11.02 points, or 0.42 percent, to 2,604.58 in the first 15 minutes of trading. Overnight, Wall Street closed mixed, as recent market rally, driven by an artificial intelligence boom, paused. The Dow Jones Industrial Average added 0.27 percent, while the S&P 500 shed 0.38 percent and the Nasdaq Composite
June 8, 2023
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Seoul shares nearly unchanged ahead of Fed's rate decision
South Korean stocks closed nearly flat Wednesday as investors remained cautious ahead of big events next week. The local currency rose to a near two-month high against the US greenback. The benchmark Korea Composite Stock Price Index rose 0.19 point, or 0.01 percent, to close at 2,615.60. Trading volume was slim at 525.8 million shares worth 9.93 trillion won ($7.62 billion), with losers slightly outpacing gainers 439 to 422. Institutions scooped up a net 348.97 billion won worth of local shares
June 7, 2023
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Seoul shares open higher ahead of inflation data, Fed meeting
Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, with investors awaiting key US inflation data and the Federal Reserve's rate decision next week. The benchmark Korea Composite Stock Price Index rose 10.05 points, or 0.38 percent, to 2,625.46 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.03 percent to 33,573.28, and the Nasdaq Composite gained 0.36 percent to 13,276.42. US consumer prices for May, set to be released next
June 7, 2023
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70% of Signiel penthouses owned by corporations
Over 70 percent of those who own lavish penthouses at Signiel Seoul – an upscale residence located throughout the 42nd to 71st floors of Korea’s tallest building, Lotte World Tower – were revealed to be corporations, according to a news report by the Herald Business on Monday. The Signiel Seoul, which was completed in April of 2017, has a total of 223 housing units, including seven penthouses and 11 duplex-type sub-penthouses. Based on real estate registrations, the Herald Busi
June 7, 2023
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S. Korean stock market's turnover falls sharply in May amid Ponzi scheme
Turnover of South Korea's main and secondary bourses dropped sharply last month as investor sentiment was dampened by a recent Ponzi scheme that has rocked the local financial market, data showed Tuesday. The average daily turnover of the main Kospi and tech-heavy Kosdaq markets stood at 18 trillion won ($13.8 billion) in May, down 31.7 percent from the previous month's 26.4 trillion won, according to the data from the Korea Stock Exchange. The average daily transactions of the Kospi m
June 6, 2023
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Seoul shares end higher on Fed's rate-hike pause hopes
Seoul shares ended higher Monday amid hopes that the US Federal Reserve may not raise interest rates this month due to signs of slackening in the US labor market. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 14.05 points, or 0.54 percent, to close at 2,615.41. The main index continued to close at above 2,600 after surpassing the 2,600 level on Friday for the first time since June 9, 2022. Trading volume was moderate at 537.16 million sha
June 5, 2023
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Imported car sales fall 9.2% in May on lack of supply volumes
Sales of imported vehicles in South Korea fell 9.2 percent last month from a year earlier due mainly to lack of supplies in some brands, an industry association said Monday. The number of newly registered imported vehicles came to 21,339 units in May, down from 23,512 units a year ago, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. The three bestselling models last month were BMW's 520 sedan, Lexus' ES300h sedan, and Mercedes-Benz's E 35
June 5, 2023
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Seoul shares open higher amid Fed's rate pause hopes
Seoul shares opened higher Monday, tracking Wall Street gains, as investors expect the US Federal Reserve will not raise interest rates this month due to signs of US labor market slackening. The benchmark Korea Composite Stock Price Index rose 13.34 points, or 0.51 percent, to 2,614.70 in the first 15 minutes of trading. On June 2, the Dow Jones Industrial Average jumped 2.1 percent to 33,762.76, and the Nasdaq Composite gained 1 percent to 13,240.77. The May US jobs report cemented bets for the
June 5, 2023
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Foreign reserves down in May on strong dollar
South Korea's foreign reserves fell in May as the dollar's ascent cut the conversion value of holdings in other currencies, central bank data showed Monday. The country's foreign reserves came to $420.98 billion as of end-May, down $5.7 billion from the previous month, according to the data from the Bank of Korea. The dollar's rise last month boosted the converted value of holdings denominated in other currencies, the Bank of Korea explained. The dollar index that gauges the
June 5, 2023
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K-pop stock rally proves strong despite BTS hiatus
With strong global demand for K-pop, share prices of major entertainment agencies are on a robust rally this year. The added market value of the four major K-pop agencies -- Hybe, JYP Entertainment, YG Entertainment and SM Entertainment -- has increased by some 8 trillion ($6.16 billion) won this year, nearing 20 trillion won. Shares of Hybe, the K-pop company behind the global boy group BTS, closed at 270,000 won on Friday. Though it is lower than the peak of 303,000 won on May 3, it marks a st
June 4, 2023
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Shinhan Card to expand presence in Kazakhstan
Shinhan Card looks to expand its business in Kazakhstan through its affiliate Shinhan Finance, joining hands with the local automobile dealership industry and stepping up its digital transformation efforts. Since its founding in November 2014, Shinhan Finance, Shinhan Card's subsidiary in Kazakhstan, has been focusing on microfinance products such as auto loans and credit loans. Shinhan Card CEO Moon Dong-kwon, who took office earlier this year, recently visited Kazakhstan to meet with th
June 4, 2023