Most Popular
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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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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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[Kim So-hyun] The quiet taxi driver from Paris
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Korea to impose higher taxes on wealthy: advisory panel
South Korea’s presidential policy advisory panel made it official Thursday that the liberal Moon Jae-in government will impose higher taxes on high-income earners and conglomerates in the long term, while continuing tax incentives for low-income households.The State Affairs Planning Advisory Committee, in charge of setting up long-term five-year policy plans, said it will seek to establish a tentatively-named “Special Committee on Taxation and Fiscal Reform” in the second half.
June 29, 2017
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Seoul stocks finish at new record high on large-cap gains
South Korea's main stock index finished at a fresh record high Thursday, helped by gains in large-cap stocks amid optimism on global economic growth. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 13.1 points, or 0.55 percent, to close at 2,395.66. Trade volume was moderate at 433 million shares worth 5.38 trillion won ($4.71 billion). The local stock market opened higher, tracking overnight gains on Wall Street. On the back of a buying spree
June 29, 2017
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Second-tier banks required to set aside more provisions to curb high-risk lending
The financial regulator said Thursday it will require second-tier banks to set aside more loan-loss provisions from the second quarter of this year, in a move to curb high-risk home lending. The tougher rules will be applied to home loans by savings banks, the Nonghyup and Suhyup banks, and other mutual savings banks that can charge more than 20 percent interest per annum, the Financial Services Commission said in a statement. For savings banks that make loans worth 10 million won ($8,767) with
June 29, 2017
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Korean shares extend gains, KOSPI breaks 2,400 points for 1st time
South Korean shares extended their rally late Thursday morning, with the main stock index breaking through the 2,400-point level for the first time. The benchmark Korea Composite Stock Price Index rose 17.01 points, or 0.71 percent, to 2,399.57 as of 11:20 a.m. The index touched 2,402.80 at one point earlier in the day, marking its all-time intra-day high, on the back of net purchases by foreign and institutional investors. Large caps traded mixed with market kingpin Samsung Electronics adding 0
June 29, 2017
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Samsung Electronics, SK hynix lead stock price hikes: data
Electronics and semiconductors have led the latest stock market boom in Asia's fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery.Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the beginning of this year, more than double the increase rate of 18.05 percent for the benchmark Korea Composite Stock Price Index, according to data
June 29, 2017
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Repayment of derivatives-tied securities on rise in Q1
Repayment of derivatives-tied securities rose during the first quarter of this year as more investors took profits amid a rally in the local stock market, data showed Thursday. The issuance of equity-linked securities and derivatives-linked securities (DLS) gained by 11.4 trillion won ($9.97 billion) on year during the January-March period, but repayment also rose by 18.1 trillion won. Accordingly, the total balance of derivatives-tied securities fell to 97.7 trillion won at the end of March, co
June 29, 2017
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Seoul stocks start higher tracking Wall Street
South Korean shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.14 points, or 0.51 percent, to 2,394.70 in the first 15 minutes of trading. The index hit a fresh intra-day record high of 2,397.95 at one point. Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.26 percent.Top automaker Hyundai Motor fell 0.62 percent, while top steelmaker POSCO rose 0.53 percent.The local currency was tra
June 29, 2017
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Seoul stocks retreat from all-time high on foreign sell-offs
South Korean stocks slumped on Wednesday, retreating from the previous session's all-time high, as foreign investors remained net sellers. The Korean won declined against the US dollar. The benchmark Korea Composite Stock Price Index declined 9.39 points, or 0.39 percent, to close at 2,382.56. Trade volume was moderate at 340 million shares worth 5.79 trillion won ($5.06 billion). The local stock market opened lower with subdued sentiment after a key vote on US President Donald Trump's heal
June 28, 2017
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30% of senior citizens received pensions in 2016: report
The percentage of elderly South Koreans receiving public or private pensions stood at 30 percent in 2016, a government report showed Wednesday.The report by the Board of Audit and Inspection, which analyzed data by the NPS and private insurance companies, showed many people remaining unprotected by the country's social security net, although measures are being taken to correct the situation. The government expects the coverage will likely rise to 37 percent in 2020, 42.3 percent in 2030 and 55.5
June 28, 2017
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Korean shares down in late morning trading
South Korean shares traded lower late Wednesday morning as sentiment subdued after a key vote on US President Donald Trump's healthcare reform was delayed. The benchmark Korea Composite Stock Price Index fell 6.17 points, or 0.26 percent, to 2,385.78 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 1.37 percent and global chipmaker SK hynix down 1.59 percent.Top automaker Hyundai Motor rose 0.31 percent, and its smaller affiliate Kia Motors traded
June 28, 2017
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Insurers required to raise capital reserves from year-end
Insurance firms in South Korea are required to gradually increase their capital reserves from the end of this year, the financial regulator said Wednesday, in the latest step to help them better cope with changes in global accounting rules.South Korea is one of more than 100 nations that will adopt the new global bookkeeping standard or the International Financial Reporting Standards 17, starting in January 2021. When adopted, some insurers in South Korea will face capitalization pressure b
June 28, 2017
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Chipmaking, petrochemical sectors to benefit from bullish market: report
South Korea's chipmaking and petrochemical sectors are positioned to benefit the most from the ongoing global economic recovery, with the sectors' exports expected to remain bullish moving forward, a report showed on Wednesday.IBK Economic Research Institute, a research arm of Industrial Bank of Korea, said in the report that small and mid-sized firms in the sectors are poised to gain from the upward business cycle.The country's exports of computer chips reached $20.2 billion in the first quarte
June 28, 2017
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[Advertorial] KDB Foundation begins 2017 art education for marginalized kids
The state-run Korea Development Bank said Tuesday its KDB Foundation has begun its annual art education project for elementary school children in low-income households, as part of its long-term social corporate responsibility activities.Initiated in 2014, the annual program invites scores of elementary school students in the third to sixth grades in low-income households and offers them 18 rounds of integrated art education in cooperation with Dongdeok Women’s University’s art educat
June 27, 2017
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Seoul stocks close at all-time high for 2nd session
South Korean stocks closed at an all-time high Tuesday for a second straight session, helped by a net purchase by retail investors. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index climbed 3.29 points, or 0.14 percent, to close at 2,391.95. Trade volume was moderate at 289 million shares worth 5.2 trillion won ($4.5 billion). The local stock market opened lower on profit-taking but turned positive on the back of retail investors' buying. Individual invest
June 27, 2017
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Banks urged to mitigate risks from household lending
Financial authorities have urged banks to take measures to mitigate risks from household lending, before tightening rules on home lending early next month, an official said Tuesday. At a meeting with heads of some 20 retail banks on Monday, Financial Supervisory Service Governor Zhin Woong-seob called for them to improve their risk and compliance management, according to an FSS official who attended the meeting.Effective next Monday, the lending ceiling for homes located in areas designated by t
June 27, 2017
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Korean shares hit fresh intraday high on retail buying
South Korean shares hit a fresh intra-day high late Tuesday morning, thanks to a retail investor buying spree. The benchmark Korea Composite Stock Price Index gained 1.51 points, or 0.06 percent, to 2,390.17 as of 11:20 a.m. The index rose to as high as 2,391.86 at one point in morning trading. Large caps traded mixed with market kingpin Samsung Electronics falling 0.25 percent, while global chipmaker SK hynix surged 1.48 percent.Top automaker Hyundai Motor fell 1.52 percent and its smalle
June 27, 2017
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Oil-focused funds lose big on falling crude prices
South Korea's three oil commodity exchange traded funds have posted abysmal returns over the past month due to falling international crude prices, a fund evaluation firm said Tuesday.With crude prices on the skids for five weeks running, the oil ETFs chalked up an average return of over minus 16 percent in the month to Friday, according to Zeroin. Oil ETFs consist of either crude firm stocks or futures and derivative contracts to track the price and performance of oil, or in some cases oil-relat
June 27, 2017
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Price index gap between major, minor bourses hits new high
The price index gap between South Korea's main and secondary bourses has hit a new high as the current bull run of the local stock market is driven largely by big caps, data showed Tuesday.The benchmark Korea Composite Stock Price Index climbed 0.42 percent to finish at a fresh high of 2,388.66 on Monday, while the key index of the minor KOSDAQ market fell 0.09 percent to 668.36.The difference between the price indexes reached an all-time high of 1,720.30, surpassing the previous record set on J
June 27, 2017
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Seoul stocks start lower on profit-taking
South Korean shares opened marginally lower Tuesday as investors opted to cash in part of recent gains.The benchmark Korea Composite Stock Price Index slipped 1.34 points, or 0.06 percent, to 2,387.32 in the first 15 minutes of trading. Most large caps traded mixed with market kingpin Samsung Electronics falling 0.62 percent.Top automaker Hyundai Motor declined 0.91 percent, and top steelmaker POSCO fell 0.37 percent.The local currency was trading at 1,135.00 won against the US dollar, up 2.1 wo
June 27, 2017
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Kospi resumes record run in 2 weeks
The main bourse in South Korea resumed its record run in 11 trading days on Monday.The benchmark Korea Composite Stock Market Index closed at 2,388.66, up 0.42 percent, or 10.06 points from Friday closing. The index hit the record-high after it closed at the previous record at 2,381.69 on June 9. The Kospi inched close to the 2,400 mark by hitting its intraday high at 2,390.70 in the late afternoon trade.Offshore investors purchased shares valued at 34.1 billion won ($30 million) in total, while
June 26, 2017