The combined net profits of asset management firms in South Korea jumped 46 percent on-year during the April-June period this year amid the local stock market’s sharp rebound, data showed Tuesday. The net income of 10 companies here came to 145.8 billion won ($122.95 million) in the second quarter, according to data from the Korea Financial Investment Association. Contrary to the previous quarte...

Despite wide fluctuations in South Korea’s stock market, along with a resurgence in novel coronavirus infections, foreign investment banks have painted a rosy outlook for the nation’s main bourse. Swiss banking giant Credit Suisse has raised its yearly Kospi target to 2,600 from the previous estimate of 2,300, saying that exports have begun recovering as major economies ease COVID-19 lockdowns. ...

Foreign stock ownership of South Korea’s main bourse Kospi dipped to a 42-month low in August due to their massive selling amid a faster-than-expected recovery of the coronavirus-affected market, data showed Sunday. The average monthly ownership of foreign investors came to 35.78 percent of the bourse’s market capitalization this month, the lowest monthly average since Feb. 2017, when it was 35....

South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administration’s “Green New Deal” initiative, one of the key pillars of the so-called “Korean New Deal” economic stimulus package. “We will stop investing in coal from now on. To fulfill our social responsibility as a firm, we’ll strengthen ESG -- environmental, soc...

“Undergoing the COVID-19 pandemic, an increasing number of clients tend to make investments in global markets, rather than the local market,” Seo told The Korea Herald in a recent interview. “Their investments are not just about stocks but alternative investment products such as gold, silver and oil.” The senior private banking and wealth management expert currently has about 300 clients, with t...

South Korean biopharma company Samsung Biologics on Thursday saw its market capitalization ranking climb to No. 2 on the nation’s main bourse Kospi, beating the world’s No. 2 memory chipmaker SK hynix. The market fluctuation came amid the prolonged COVID-19 pandemic, which weighed upon several of the conventional manufacturing champions and empowered other sectors such as pharmaceuticals and dig...

In step with the global trend of sustainable investments, South Korea’s sole stock market operator has launched a platform that provides transparent information on socially responsible investment bonds. The new Korea Exchange system is noted for its comprehensive function, providing all necessary investment information and statistics at a glance. Previously, investors needed to visit individual ...

South Korea’s sole bourse operator said Thursday that it would further review possible delisting of biotechnology firm SillaJen. SillaJen submitted its business normalization scheme to the bourse operator last month. The KRX’s Kosdaq Market Committee was to decide whether to lift the company’s trading suspension or delist it from the nation’s tech-heavy Kosdaq market. Officials said the committe...

South Korean beauty video app Zamface said Thursday that it has raised 5.5 billion won ($4.64 million) in series A funding from multiple investors to expand into the Southeast Asian market. STIC Ventures and Timewise investment as well as existing investors Korea Investment Partners joined the round. Series A refers to the first stage of fundraising for a startup after its foundation, as it gea...

South Korean brokerage firm Mirae Asset Daewoo posted a second-quarter operating profit of 387.1 billion won ($327 million) and net profit of 304.1 billon won on Thursday on the back of a stock market rally. The operating profit marked a 47.9 percent on-year increase, a 179.2 percent jump from the previous quarter. The figure stood at an all-time quarterly high since its merger with Mirae Asset ...

South Korea’s main bourse Kospi on Wednesday rose 31.89 points, or 1.4 percent, to 2,311.86, recovering above the level of 2,300 after nearly 22 months, on retail investors’ buying spree for a sixth consecutive session as signs of economic recovery improved investor sentiment. It was the first time the index moved above the 2,300-point mark since Oct. 4, 2018, when it marked 2,311.06. The closin...

South Korea’s main bourse Kospi on Tuesday hit the highest point over the last year, with retail investors continuing their buying spree for a fifth consecutive session after tracking an overnight Wall Street rally led by economic rebound hopes. The Kospi opened higher at 2,272.33 -- up 21.29 points, or 0.95 percent, from the previous session. The strong start continued throughout the day to clo...

Kakao Games, the games unit of Korea’s mobile giant Kakao, has submitted a registration statement to the Financial Services Commission, with an intention of listing on the nation’s tech-heavy Kosdaq market in September. By issuing 16 million new common shares, at a price between 20,000 won and 24,000 won ($16.70-$20.10) each, the game developer looks to raise as much as 384 billion won, Kakao Ga...

SEJONG -- The nation’s tax agency has launched a probe targeting 42 foreigners who own multiple apartments here and are alleged to have evaded taxes, as part of the government’s drive to curb surging housing prices and discourage speculative investment, officials said Monday. The probe involves a 40-something US citizen who has purchased 42 homes in South Korea since 2018 for 6.7 billion won ($5...

The New York-based provider of exchange-traded funds Global X has listed its ETF -- which invests in global telemedicine and digital health companies -- on the Nasdaq, parent company Mirae Asset Global Investments said Friday. The product -- the Global X Telemedicine & Digital Health ETF -- tracks the Solactive Telemedicine & Digital Health Index, which included 40 firms as of July 21. US firms ...