Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Kospi leaps past 2,400 mark
The main bourse of South Korea leaped to another record-high Thursday, surpassing the 2,400 closing mark for the first time in history. The benchmark Korea Composite Stock Price Index rose 0.74 percent to close at 2,409.49 Thursday from Wednesday’s closing at 2,391.77.The top-tier stock market continued its record run, a day after it retreated 0.18 percent from the previous record high at 2,396.00 Tuesday.Foreign investors showed a strong buying trend, recording net purchase of 372.9 billi
July 13, 2017
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BOK revises up growth forecast to 2.8%
South Korea’s central bank on Thursday raised its 2017 growth forecast to 2.8 percent, up 0.2 percentage point from its April projection, and to 2.9 percent in 2018, on the back of upbeat macroeconomic data at home and abroad. Meanwhile, the Bank of Korea decided to hold its policy rate steady at an all-time low of 1.25 percent for the 13th consecutive month on weak domestic consumption readings and continuing external uncertainties. Consumer price inflation was projected to stand at 1.9 p
July 13, 2017
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Seoul stocks vault to new record high on Samsung, tech stocks
South Korean stocks closed at a record-high level on Thursday as investors' sentiment was boosted by overnight gains on Wall Street. The Korean won gained against the US dollar.The benchmark Korea Composite Stock Price Index soared 17.72 points, or 0.74 percent, to close at a fresh record high of 2,409.49. Trade volume was low at 284 million shares worth 6.05 trillion won ($5.32 billion), with gainers slightly outnumbering losers 397 to 396.The index reached an all-time intraday high of 2.422.26
July 13, 2017
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Sales of variable insurance policies more than double in Q1
Sales of variable insurance policies more than doubled in the first quarter of this year as local stock markets reported robust gains, industry data showed Thursday. The first premium for variable insurance policies, which invest part of the funds they control in stocks and bonds, rose to 545.5 billion won ($477.2 million) during the January-March quarter, compared with 215.2 billion won for the same three-month period last year, according to the data by the Korea Life Insurance Association.&nbs
July 13, 2017
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Samsung Elec's market cap explodes to overtake secondary bourse
Samsung Electronics Co.'s market cap has grown to exceed that of the entire secondary bourse and more than make up for the company's erased stocks this year, data showed Thursday.The market cap of the tech firm as of the end of trading Wednesday was 362 trillion won ($316.7 billion), including preferred shares. Ordinary shares accounted for 326 trillion won.According to the Korea Exchange, the sum is equal to 23.27 percent of the main bourse KOSPI. It is 1.72 times bigger than the entire market
July 13, 2017
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Stocks open higher on Wall Street gains
South Korean stocks opened higher Thursday taking a cue from overnight Wall Street gains, led by tech and chemical shares.The benchmark Korea Composite Stock Price Index added 13.65 points, or 0.57 percent, to 2,405.42 in the first 15 minutes of trading.Market cap Samsung Electronics continued to rise, moving up 0.92 percent and chipmaker SK hynix increased 0.58 percent. LG Display gained 1.38 percent. Chemical shares gathered ground, with industry leader LG Chem rising 4.01 percent and top cosm
July 13, 2017
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Seoul stocks edge down on profit-taking
South Korean stocks closed slightly lower Wednesday on profit-taking after the key index hit a record-high in the previous session. The Korean won gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 4.23 points, or 0.18 percent, to close at 2,391.77. Trade volume was low at 266 million shares worth 5.3 trillion won ($4.62 billion), with losers outnumbering gainers 541 to 267.Seoul shares closed lower as investors took a breather after the market rose to a re
July 12, 2017
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Korea's mobile stock trading rises amid growing smartphone penetration: data
South Korea's mobile stock trading has witnessed sharp gains in the past few years as the country emerged as having one of the highest smartphone penetration numbers in the world, industry data showed Wednesday.South Korea's smartphone penetration rate stands at 85 percent, compared with the global average of 51 percent.The proportion of mobile stock trading in the secondary KOSDAQ market surged to 34.49 percent during the first six months this year from 3.12 percent in 2010, according to the fi
July 12, 2017
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Korea's money supply up 6.1% in May: BOK
The money supply in South Korea jumped 6.1 percent in May from a year earlier, the central bank said Wednesday.The nation's M2 totaled 2,454.3 trillion won ($2.13 trillion) in May, compared with 2,312.8 trillion won a year earlier, the Bank of Korea said in a statement.The money supply gained 0.3 percent on-month, the statement said. The growth rate of the money supply has been on the decline since October 2015 as companies decreased domestic credit.M2 is a measure of the money supply counting t
July 12, 2017
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Currency market volatility eases in June
Volatility in South Korea's currency markets eased in June from a month earlier as global financial markets were relatively stabilized, the central bank said Wednesday.The session-over-session changes in the dollar-won exchange rates averaged 0.28 percent in June, compared with 0.41 percent a month earlier, the Bank of Korea said in a statement. "The won has fallen against the dollar since June due to caution on shifts in monetary policies in major countries and geopolitical risks over Nort
July 12, 2017
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Stocks open nearly flat as investors take breather
South Korean stocks opened nearly flat Wednesday as investors sought profit-taking after the market closed at a record-high level in the previous session.The benchmark Korea Composite Stock Price Index added 2.25 points, or 0.09 percent, to 2,398.25 in the first 15 minutes of trading. Carmakers gained ground, with industry leader Hyundai Motor increasing 1.69 percent and its sister Kia Motors rising 2.04 percent. Top auto parts maker Hyundai Mobis added 1.64 percent.Market behemoth Samsung Elect
July 12, 2017
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Kospi inches closer to 2,400 closing mark
South Korea‘s top-tier stock market resumed its record run for an eighth trading day Tuesday, with its index inching closer to a closing mark of 2,400.The benchmark Korea Composite Stock Price Index closed at 2,396.00, up 0.58 percent from Monday, marking its 13th all-time high this year. This came nearly two weeks after the market closed at a previous record-high of 2,395.66 on June 29, having momentarily topped 2,400 in early morning trade. About 15 minutes before the market closed
July 11, 2017
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Lack of won convertibility prevents Korea’s upgrade: MSCI
The lack of convertibility of the local currency has stood in the way of South Korea’s reclassification into the Morgan Stanley Capital International’s developed market index.To Korea’s market oversight authorities, however, allowing local currency to be exchangeable offshore appears to be the least likely option out of fears of compromising stability in currency trading.MSCI Chairman Henry Fernandez has reiterated the stance Monday in Seoul that Korea, currently included in th
July 11, 2017
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Korean stocks trade higher late Tuesday morning
South Korean stocks traded higher late Tuesday morning on the back of gains in technology firms and mobile carriers. The benchmark Korea Composite Stock Price Index added 8.53 points, or 0.36 percent, to 2,390.63 as of 11:20 a.m. Tech shares continued to advance, with No. 2 chipmaker SK hynix gaining 1.63 percent and LG Electronics increasing 0.99 percent.Top market cap Samsung Electronics edged up 0.08 percent.Mobile carriers were also among winners, with industry leader SK Telecom moving up 1.
July 11, 2017
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Korea ranks 2nd among emerging markets in stock purchases by foreigners in H1: data
South Korea ranked second among emerging economies in the amount of stocks purchased by foreign investors during the first six months this year, market data showed Tuesday.Foreigners net bought $9 billion worth of South Korean stocks during the January-June period, the second largest only after Taiwan's $9.4 billion, according to the statistics by Yuanta Securities.India came in third with $8.5 billion, followed by Brazil at $1.4 billion, Indonesia at $1.3 billion, the Philippines at $408 millio
July 11, 2017
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Stocks open higher on steel, chemicals
South Korean stocks opened higher on the back of gains from steel and chemical shares Tuesday.The benchmark Korea Composite Stock Price Index added 2.29 points, or 0.1 percent, to 2,384.39 in the first 15 minutes of trading. Top steelmaker POSCO advanced 2.17 percent, and Korea Zinc climbed 0.22 percent. Hyundai Steel added 1.79 percent.AmorePacific increased 2.31 percent, and LG Household & Health Care rose 0.98 percent. LG Chem moved up 0.34 percent.The local currency was trading at 1,148.
July 11, 2017
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US job data helps remove NK tension, tapering woes out of markets
South Korea‘s stock markets modestly gained Monday helped by robust job data of the United States that replaced geopolitical tension from North Korea’s missile launch and global tapering woes.The benchmark Korea Composite Stock Price Index closed at 2,382.10, up 0.09 percent Monday compared to the Friday closing, on the back of institutional buying. Institutional investors showed a net purchase of 77.2 billion won ($67.2 million), offsetting net sales of offshore investors at 58.1 bi
July 10, 2017
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[Monitor] Financial institutions’ profits from commission soar
Banks, insurers and card companies have charged a total of 59.9 trillion won in service fees since 2013, according to the Financial Supervisory Service in its report to the ruling Democratic Party of Korea.The banks have raised profits from the commission amounting to some 6.4 trillion won ($5.6 billion) annually. This year, the banks are expected to raise some 6.8 trillion won.The service fees charged for money transfer and using an ATM had been lowered in 2011 but they continued to rise in the
July 10, 2017
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Seoul stocks close nearly flat on Q2 earnings uncertainties
South Korean stocks closed nearly flat Monday as investors took a wait-and-see stance on second-quarter earnings of listed firms, although Samsung Electronics closed higher on its robust performance estimate, analysts said. The Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up 2.23 points, or 0.09 percent, to close at 2,382.10. Trade volume was low at 277.3 million shares worth 4.87 trillion won ($4.23 billion), with losers outnumbering gainers 583
July 10, 2017
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Woori Bank to exempt transfer fee for multicultural families
Multicultural families will be able to enjoy exemptions in international wire transfer fees and discounts in currency exchange when using Woori Bank, it said Monday. The families will be exempt from paying transfer fees – up to 25,000 won ($21.70) for outgoing wire and 10,000 won for incoming wires of over $100 -- if they submit identification and at their nearest Woori Bank branch.Also, multicultural families will be offered a narrower foreign exchange spread, by as much as 80 perce
July 10, 2017