Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Seoul shares open higher amid inflation woes
South Korean stocks opened marginally higher Monday, tracking a US rebound last week as investors closely watch the US Federal Reserve's next move to curb inflation. The Korea Composite Stock Price Index (KOSPI) rose 9.92 points, or 0.43 percent, to 2,315.34 in the first 15 minutes of choppy trading. Major US indexes on Friday (US time) reversed their earlier losses to end higher, as investors speculated whether weaker-than-expected economic indicators would prod the Fed to slow down on its
July 4, 2022
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Retail inflows at 2-year low as recession worries mount
The average daily trading volume of retail investors on the main board Kospi in June dropped to its lowest level since February 2020, data from the Korea Exchange showed Sunday. The fall comes as investors are bracing for a growth slowdown from the US Federal Reserve’s rate hikes. The value of shares investors bought and sold in a day on average on the benchmark index reached 4.3 trillion won ($3.3 billion) last month. That is a little more than 3.7 trillion won recorded in February 2020
July 3, 2022
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[Newsmaker] Internet-only banks lure customers with Tamagotchi-like savings accounts, digital piggy banks
Saving money is never fun. But when combined with a digital pet that grows alongside the size of your savings, it can be more motivating. South Korea’s three internet-only banks -- KakaoBank, K bank and Toss Bank -- have launched unique products such as Tamagotchi-like savings accounts, mobile joint accounts and digital piggy banks to lure customers attracted to the trends. Toss Bank, launched in October last year, has registered 3.6 million users in just eight months through a slew of
July 1, 2022
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Seoul shares dip almost 2 pct amid recession woes, dim outlook for chip sector
South Korean stocks plunged by almost 2 percent on Thursday to slump for a second straight session amid recession woes and dim outlook for the chipmaking sector. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 45.35 points, or 1.91 percent, to close at 2,332.64 points. Trading volume was moderate at about 506 million shares worth some 8.7 trillion won (US$6.7 billion), with losers outnumbering gainers 699 to 183. Institutional investor
June 30, 2022
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Top court clears Shinhan chief of unethical hiring claims
South Korea’s top court on Thursday cleared Shinhan Financial Group Chairman Cho Yong-byoung of unethical hiring charges, putting an end to a four-year legal battle and allowing a possible third term for Cho. The Supreme Court upheld the Seoul High Court’s decision in November last year to side with Cho on allegations that he had exercised his influence by accepting hiring requests from lawmakers and company executives to recruit their children from 2013 to 2016 while he was CEO of
June 30, 2022
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Seoul shares open lower amid foreign sell-offs
South Korean stocks opened lower Thursday as foreign sell-offs continued to weigh on the key stock index after the stock plunge the previous day. The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.86 points, or 0.79 percent, to trade at 2,359.13 in the first 15 minutes of trading. Investors remained cautious after a near 2 percent fall on Wednesday, spooked by soaring inflation growth at home and weak economic sentiment data in the United States Investors' eyes are on China
June 30, 2022
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KB Kookmin provides $300m for JFK Airport redevelopment
KB Kookmin Bank, South Korea’s top lender said Wednesday that it will join other financial institutions in a $6.6 billion syndicated loan package to finance the John F. Kennedy International Airport’s Terminal One redevelopment project in New York. KB Kookmin will contribute $300 million of the $6.6 billion loan, alongside Japan’s Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp. and Dutch financial giant ING Bank. KB said the airport renovation financing project
June 29, 2022
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Seoul shares snap 3-day winning streak amid recession woes; Korean won tumbles
South Korean stocks snapped their three-day winning streak Wednesday, as investors were spooked by overnight plunges on Wall Street caused by growing concerns about an economic recession. The Korean won tumbled against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 44.1 points, or 1.82 percent, to close at 2,377.99 points. Trading volume was moderate at about 411 million shares worth some 7.7 trillion won ($5.9 billion), with losers outnumbering gainers 511 to 336. I
June 29, 2022
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[Market Eye] Kospi’s rebound to 3,000 unlikely to happen anytime soon
When South Korea’s key stock index surpassed the 3,000-mark for the first time in its 40-year history in January 2021, it seemed the bull market would last forever. But risks stemming from high inflation, fears of recession and the global supply bottleneck this year has beaten down the index down to some 2,400 points as of this week, with analysts warning investors that they are unlikely to feel the relief of recovering to 3,000 anytime soon. “Our base Kospi target of 3,000 implies
June 29, 2022
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BOK likely to weigh more on 'big-step' rate hike should June inflation hit 6 pct: official
Demand for an unprecedented "big-step" rate hike among policymakers of the Bank of Korea (BOK) will likely intensify ahead of an upcoming rate-setting meeting should the country's consumer prices in June rise 6 percent or higher, a high-ranking central bank official has said. The outlook comes amid growing speculation the BOK could lean more toward the possibility of an unprecedented 0.5 percentage-point hike in borrowing costs when monetary policy board members gather on July 13 in th
June 29, 2022
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Inflation expectations in S. Korea hit 10-yr high in June
Inflation expectations in South Korea hit the highest level in about 10 years in June amid worries that prices are fast increasing due to high energy and commodity costs, a central bank report showed Wednesday. Ordinary people expected consumer prices to rise 3.9 percent over the next year, the fastest pace since April 2012, according to the report from the Bank of Korea (BOK). The June figure was also higher than a 3.3 percent rise predicted the previous month. Data on expected inflation is clo
June 29, 2022
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Seoul shares open steeply lower on US stock plunge
South Korean stocks opened sharply lower Wednesday, tracking an overnight Wall Street plunge amid growing fears of economic recession. The benchmark Korea Composite Stock Price Index (KOSPI) fell 32.67 points, or 1.35 percent, to trade at 2,389.42 in the first 15 minutes of trading. Overnight, Wall Street tumbled amid bleaker-than-expected economic indicators that added to investor jitters over a possible recession. The Dow Jones Industrial Average dipped 1.56 percent, while tech-heavy Nasdaq co
June 29, 2022
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Seoul shares rise for 3rd day on bargain hunting, US data eyed
Seoul shares ended higher Tuesday to extend their winning streak to a third day as auto and technology stocks advanced on bargain hunting, with investors keeping an eye on upcoming U.S. economic data and Federal Reserve policy. The local currency rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 20.17 points, or 0.84 percent, to close at 2,422.09. Trading volume was moderate at 555.34 million shares worth 7.03 trillion won ($5.4 billion), with gainers outpacing decli
June 28, 2022
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Seoul shares open higher despite US losses
Seoul shares opened higher Tuesday, bucking overnight losses on Wall Street, with investors remaining concerned about higher interest rates and a slowdown in the global economy. The Korea Composite Stock Price Index (KOSPI) rose 6.04 points, or 0.25 percent, to 2,407.96 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.2 percent to 31,438.26 points and the tech-heavy Nasdaq shed 0.7 percent to 11,524.55 points. Auto, airline and refiner stocks were lead gaine
June 28, 2022
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Seoul shares up for 2nd day amid recession woes
Seoul shares ended higher for the second straight session Monday, as investors speculate the pace of the Federal Reserve's rate hikes could be slower than expected amid global recession woes. The local currency sharply rose against the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 35.32 points, or 1.49 percent, to close at 2,401.92. On Friday, the KOSPI rebounded 2.3 percent to 2,366.60 after marking a 19-month low a session earlier. Trading volume was moderate at 501.09 mil
June 27, 2022
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[Photo News] World Cup Coins
The official commemorative coins issued by the Qatar Central Bank to celebrate the 2022 Qatar World Cup were showcased in Seoul on the sidelines of a ceremony held to launch limited edition medals to commemorate the Korea-Japan World Cup held 20 years ago. A set of 24 gold and silver legal tender coins were released by the Middle Eastern country last month as part of FIFA‘s Official Host Country Coin Program, in collaboration with MDM Deutsche Muenzhandelsgesellschaft, FIFA’s officia
June 27, 2022
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Burden from investor debt binge drags down Kospi: analyst
Risks stemming from South Korea’s investor debt binge is a key reason behind the local benchmark stock index’s recent lackluster performance, analysts said Monday. This fueled concerns of a possible market crash as the US Federal Reserve’s aggressive rate hikes have been increasing debt burden on retail investors. “Following the outbreak of the COVID-19 pandemic, Korea saw a sharp gain in household and corporate debt,” Heo Jae-hwan, an analyst at Eugene Investment
June 27, 2022
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Commemorative medals for 2002 Korea-Japan World Cup on sale
Special limited edition medals and banknotes to commemorate the 20th anniversary of the 2002 FIFA World Cup, co-hosted by South Korea and Japan, went on sale Monday. Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) said the commemorative items were made to wish the South Korean national football team good luck on the upcoming 2022 Qatar World Cup, while serving as a reminder of the national unity Korea experienced during the 2002 tournament. The “FIFA World
June 27, 2022
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Seoul shares open higher on U.S. gains
Seoul shares opened higher Monday, tracking gains on Wall Street last week, with investors staying cautious about high inflation and further rate hikes. The Korea Composite Stock Price Index (KOSPI) rose 10.35 points, or 0.44 percent, to 2,376.95 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average rose 2.7 percent to 31,500.68 points and the tech-heavy Nasdaq climbed 3.3 percent to 11,607.62 points. In Seoul, technology stocks were lead gainers. Market bellwether Sams
June 27, 2022
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SC Bank Korea offers special rate until June 30
Standard Chartered Bank Korea is offering a special interest rate of up to 1.9 percent per annum, before tax, to new customers opening a checking account by the end of this month. Account holders are eligible for the special rate up to 60 days from opening the account, as long as they keep the balance between 100 million won ($77,200) and 2 billion won. The rate is adjusted each day depending on the balance at the end of day. Once new deposits reach 200 billion won, the special offer will ex
June 26, 2022