Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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Seoul shares snap 3-day rise ahead of FOMC meeting results
South Korean stocks closed lower Wednesday as investors sat on the sidelines ahead of the release of the US Federal Reserve's meeting results, analysts said. The benchmark Korea Composite Stock Price Index fell 24.61 points, or 0.97 percent, to close at 2,510.66 ending its three-day advance. Trade volume was low at 367 million shares worth 7.32 trillion won ($5.45 billion), with losers outpacing winners 596 to 270. Foreigners sold a net 130 billion won, while institutions bought a net 94.3
Dec. 13, 2023
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Seoul shares open lower as US inflation data meets expectations
South Korean stocks opened lower Wednesday as investors digested the latest US inflation data that met market expectations while waiting for this week's Federal Reserve meeting. The benchmark Korea Composite Stock Price Index fell 7.67 points, or 0.3 percent, to 2,527.6 in the first 15 minutes of trading. The United States announced its on-year inflation came to 3.1 percent in November, falling in line with the market estimate. Investors, meanwhile, also waited for hints over the future dir
Dec. 13, 2023
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Seoul shares up for 3rd day ahead of US inflation data, Fed meeting
South Korean stocks closed higher for the third straight trading day on Tuesday amid the growing hope over a possible slowdown in US inflation and the Federal Reserve's potential signal for rate cuts next year. After choppy trading, the benchmark Korea Composite Stock Price Index added 9.91 points, or 0.39 percent, to close at 2,535.27, extending its winning streak to a third day. Trade volume was low at 365 million shares worth 7.49 trillion won ($5.7 billion), with losers outpacing winner
Dec. 12, 2023
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Seoul shares open higher ahead of US inflation data, Fed meeting
South Korean stocks opened higher Tuesday as investors awaited this week's US inflation data, as well as the Federal Reserve's rate-setting meeting. The benchmark Korea Composite Stock Price Index added 12.57 points, or 0.5 percent, to 2,537.93 in the first 15 minutes of trading. The United States is set to release its consumer price index Tuesday, with investors also closely eyeing the future monetary policy direction from the Federal Open Market Committee meeting. In Seoul, tech shar
Dec. 12, 2023
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Seoul shares close tad higher ahead of US Fed meeting
South Korean stocks closed slightly higher on Monday as investors awaited clues over future US monetary policy directions ahead of this week's Federal Reserve meeting. The benchmark Korea Composite Stock Price Index added 7.51 points, or 0.3 percent, to close at 2,525.36 Trade volume was moderate at 424 million shares worth 7.97 trillion won ($6 billion), with winners outnumbering losers 479 to 375. Foreigners bought a net 4.46 billion won worth of shares, while individuals offloaded a net
Dec. 11, 2023
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Seoul shares open higher ahead of Fed meeting
South Korean stocks opened higher Monday ahead of the Federal Reserve's rate-setting meeting slated for this week. The benchmark Korea Composite Stock Price Index added 8.58 points, or 0.34 percent, to 2,526.43 in the first 15 minutes of trading. Investors are awaiting this week's Federal Open Market Committee meeting, with its key rate anticipated to remain steady between 5.25 and 5.50 percent. In Seoul, tech shares traded higher, with LG Energy Solution adding 0.23 percent and SK hyn
Dec. 11, 2023
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Seoul shares up over 1% on strong techs; won sharply up
South Korean stocks gained more than 1 percent Friday, led by the strong performance of big-cap tech shares that tracked overnight gains on Wall Street. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index added 25.78 points, or 1.03 percent, to finish at 2,517.85. The secondary KOSDAQ jumped 2.11 percent to end at 830.37. The Kospi's trade volume was moderate at 421.4 million shares worth 7.69 trillion won (US$5.88 billion), with winners ou
Dec. 8, 2023
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Seoul shares open higher on US gains
South Korean stocks got off to a strong start Friday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 20.03 points, or 0.8 percent, to 2,512.10 in the first 15 minutes of trading. Overnight, all three major US indexes gained ground, with the tech-heavy Nasdaq composite up 1.37 percent, as communication and IT shares rallied on favorable news in the artificial intelligence sector. Alphabet, the parent company of Google, jumped more than 5 percent on t
Dec. 8, 2023
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Seoul shares edge down amid US slowdown woes; won sharply down
South Korean stocks ended lower Thursday as investors were concerned the US economy may be losing steam. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 3.31 points, or 0.13 percent, to close at 2,492.07. Trade volume was moderate at 440.6 million shares worth 8.03 trillion won ($6.06 billion), with losers outnumbering gainers 525 to 354. Institutions dumped a combined 204.8 billion won worth of shares, while individual and foreign inve
Dec. 7, 2023
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Seoul shares open lower on US tech slide
South Korean stocks got off to a weak start Thursday as tech shares took a cue from overnight losses in US heavyweights, like Nvidia and Microsoft. The benchmark Korea Composite Stock Price Index retreated 8.91 points, or 0.36 percent, to 2,486.47 in the first 15 minutes of trading. Overnight, all three major US indexes lost ground despite jobs data that reinforced expectations the Federal Reserve may start cutting its rates early next year. AI chip leader Nvidia sank 2.3 percent, while Microsof
Dec. 7, 2023
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Mirae Asset Securities names new CEOs
Mirae Asset Securities, Korea’s largest investment bank and securities firm, said Wednesday that it has appointed Vice Chairman Heo Sun-ho as CEO. He will lead the company’s sprawling business together with Vice Chairman Kim Mi-seob, whose appointment was confirmed earlier in October. With Heo’s appointment, which was approved at a board of directors meeting earlier on the day, the company has completed a generational shift in its long-held dual leadership system. Heo will co
Dec. 6, 2023
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Seoul stocks end nearly flat on cautious note
South Korean stocks closed nearly flat Wednesday as major shares ended in mixed territory. The local currency lost ground against the US dollar. Swinging between gains and losses, the benchmark Korea Composite Stock Price Index added 1.1 points, or 0.04 percent, to close at 2,495.38. Trade volume was slim at 384.3 million shares worth 7.51 trillion won ($5.71 billion), with winners outnumbering losers 499 to 371. Institutions scooped up a net 240.5 billion won worth of shares, while individual a
Dec. 6, 2023
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[KH Explains] Banks, regulators trade blame for snowballing ELS losses
Korea is in the middle of blame-shifting, as banks face more than 3 trillion won ($2.28 billion) in losses combined in the first half of next year from the sales of equity-linked securities tied to a Hong Kong index. Financial authorities are considering creating guidelines for compensation regarding the sales of ELS products tracking the Hang Seng China Enterprises Index, seeing the possibility of banks’ misselling. The value of ELS products sold by Korea’s five major banks set to m
Dec. 6, 2023
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Seoul shares open tad higher on tech, financial gains
South Korean stocks started a tad higher Wednesday led by gains in tech and financial shares. The benchmark Korea Composite Stock Price Index gained 5.65 points, or 0.23 percent, to 2,499.93 in the first 15 minutes of trading. Overnight, U.S. stocks finished mixed, with the Dow Jones Industrial Average retreating 0.2 percent and the tech-heavy Nasdaq Composite edging up 0.3 percent. In Seoul, chipmakers lent support to the positive opening, with No. 1 Samsung Electronics rising 0.84 percent and
Dec. 6, 2023
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Seoul shares open lower on US losses
Seoul shares got off to a weak start Tuesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index retreated 17.21 points, or 0.68 percent, to 2,497.74 in the first 15 minutes of trading. On Monday, all three major US indexes lost ground ahead of the release of key job market data later this week, including an October update on job openings. The S&P 500 gave back 0.54 percent after hitting its highest level in over a year the previous session. The Dow Jon
Dec. 5, 2023
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Seoul shares end higher on Fed's rate cut hopes
South Korean stocks ended higher Monday amid speculation that the US Federal Reserve may start cutting its rates next year amid eased inflation woes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 9.94 points, or 0.4 percent, to close at 2,514.95. Trade volume was moderate at 489.9 million shares worth 8.5 trillion won ($6.5 billion), with gainers slightly outnumbering losers 458 to 411. Institutions and foreigners bought shares worth 170.7 bi
Dec. 4, 2023
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Fractional art market opens up to lure new investors
Art Together, a subsidiary under major Korean art auctioneer K-Auction, announced Monday it has submitted its registration statement for fractional investments in Yayoi Kusama's 2002 artwork, “Pumpkin,” to the country’s top regulator, the Financial Supervisory Service. Art Together purchased the painting from renowned British auction house Christie’s for 1.09 billion won ($835,000) and has set the subscription price at 1.18 billion won, allowing retail investors to s
Dec. 4, 2023
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[Photo News] Oodles of Noodles
Korean convenience store chain CU said Monday that it has opened a new store that specializes in ramen, in an industry first, in Mapo-gu, western Seoul. More than 200 different instant noodle products are displayed, and customers can cook and eat the ramen of their choice for an additional 900 won ($0.70) for the disposable cup. Operator BGF Retail said the new store also aims to cater to foreign travelers amid their increased interest in Korean food. (BGF Retail)
Dec. 4, 2023
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Seoul shares open higher on Fed's rate pause hopes
Seoul shares opened higher Monday amid increasing hopes the US Federal Reserve is set to end its rate-hike cycle. The benchmark Korea Composite Stock Price Index rose 14.43 points, or 0.58 percent, to 2,519.44 in the first 15 minutes of trading. On Friday, all three major US indexes rallied on growing optimism that the Federal Reserve is done raising interest rates. The S&P 500 rose 0.6 percent to hit its highest level in over a year, the Dow Jones Industrial Average jumped 0.8 percent, and
Dec. 4, 2023
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Consumption slows down amid high rates, inflation
South Korea's domestic consumption is expected to slow down further after local service sector output posted the lowest-level growth in 32 months in November amid high rates and high inflation, government data showed Sunday. Output in the service sector grew 0.8 percent last month compared to the same month of last year, marking the lowest on-year monthly growth since reporting a 0.8 percent decline in February 2021, according to data from Statistics Korea. Services output began to increase
Dec. 3, 2023