Foreign investors in South Korea net purchased some $920 million, or 1.04 trillion won, of locally listed stocks last year, but the figure was conspicuously lower than that of peer emerging economies, data showed Friday. According to Yuanta Securities, the combined net purchase volume by foreigners on the nation’s benchmark Kospi and tech-laden secondary Kosdaq marked $924 million in 2019. Amon...

South Korea’s tax agency said Thursday that it has published its year-end tax settlement manuals for foreigners in English, Chinese and Vietnamese. The publication of tax manuals in foreign languages, while are available both online and offline, comes as the number of foreign employees has been growing. According to the National Tax Service data, Chinese and Vietnamese filers for the 2018 year-...

Foreign stock ownership on Seoul’s benchmark Kospi bourse reached the highest level this week since 2006, industry data showed Thursday. According to the Korea Financial Investment Association, offshore investors held a net 585.98 trillion won ($431 billion) as of Tuesday -- 38.90 percent of the bourse’s market capitalization of 1,506 trillion won. The figure is the highest since Aug. 8, 2006, ...

Foreign investors turned net buyers in the South Korean stocks in December, after snapping a four-month streak of selling. However, they continued their net outflow of investment in the local fixed-income market for a third consecutive month, the financial watchdog said Monday. Foreign investors net-bought 810 billion won ($699.6 million) worth of local listed stocks during the month -- 350 bill...

The fiasco surrounding Lime Asset Management is likely to escalate further as investors have filed related complaints and banks which sold its fund options are gearing up to file a lawsuit. From end-October to Friday, the Financial Supervisory Service received over 100 investor petitions concerning the disputed fund sales by Lime Asset Management, according to the financial watchdog Sunday. “We...

The South Korean stock market saw only one listed firm join its 1 trillion won ($849 million) market capitalization club last year, reflecting the overall sluggish performance, according to the Korea Exchange on Wednesday. The local stock market operator said in its report that there were 194 listed companies in the exclusive club at the end of last year, just one more than the previous year. S...

The Korean stock market was impacted by the intensifying geopolitical tensions between the US and Iran, with negative repercussions expected to continue, according to analysts Monday. Seoul’s benchmark bourse Kospi opened sharply low -- down 21.49 points, or 0.99 percent, from the previous session. The weak start continued through the day and it closed at 2,155.07. The tech-heavy Kosdaq also sli...

Ahead of the April parliamentary elections, politics-themed stocks are already experiencing a roller-coaster ride. While Seoul’s benchmark Kospi has stayed in a box pattern, stocks related to political figures are expected to show more volatility as elections approach. Related stocks could either surge or dip depending on the candidates’ political moves or performance. Since stock price manipula...

Amid a sluggish market and harsher business conditions in 2020, South Korea’s brokerages on Thursday stressed the need to seek new growth engines and market opportunities overseas. Choi Hyun-man, executive vice chairman and CEO of Mirae Asset Daewoo, urged the company’s staff to focus on strengthening global networks, saying globalization was not just about the physical expansion of portfolios b...

Bucking the trend of major global stock markets which saw some of their best gains in decades, South Korea’s main bourse Kospi remained flat on the last trading day of 2019, unable to pierce the 2,200 points mark. For a decade now, many market watchers expected Kospi to surpass the 3,000 mark, after it topped 2,000 in 2009. Now as we enter a new year, all eyes are on whether it will gain new gro...

The state-run Industrial Bank of Korea faced the new year amid heated controversy concerning the likely nomination of a former senior presidential aide as its next CEO. On Tuesday, Reps. Chae Yi-bai of the Bareunmirae Party and Chu Hye-seon of the Justice Party held a press conference at the National Assembly along with members of the Korean Financial Industry Union, opposing the nomination of Y...

South Korea’s stock market continued its sluggish performance on Monday -- the last trading day of 2019 -- amid a lack of significant momentum. The benchmark Kospi closed at 2,197.67 points, down 0.30 percent, or 6.54 points, from the previous session, according to stock market operator the Korea Exchange. The figure however rose by 8.53 percent, or 187.57 points, from the first trading session...

Mirae Asset Daewoo / Securities firm South Korean brokerage Mirae Asset Daewoo said Monday it had expanded its presence by creating synergy with multiple businesses -- such as investment banking and trading in Korea and abroad -- and diversifying its investment portfolio. Mirae’s capital surpassed 9 trillion won ($7.76 billion) at the end of the third quarter this year. Its net profit came to 1...

South Korea’s tax agency has handed down more than 80 billion won ($68.9 million) in taxation on the market’s top cryptocurrency exchange Bithumb, raising controversies on the lack of assessment standards. According to industry insiders, Vidente, the largest shareholder of Bithumb, announced Saturday via DART -- the Financial Supervisory Service’s electronic disclosure board -- that the National...

After soaring nearly 17 percent in 2019, the gold price on South Korea’s bourse is expected to prolong its winning streak throughout 2020, reflecting the market’s preference for risk-free assets amid persistent volatility, local experts said Sunday. According to Daishin Securities, the wholesale price of gold on Korea Gold Exchange closed at 60,670 won ($52.30) per gram Saturday, up 10,400 won, ...