Amid soaring house prices, seven out of 10 South Koreans born in 1980s and 1990s believe having their own house is necessary but were pessimistic about purchasing residential property only with their income, a survey showed Wednesday. According to the survey, conducted by Mirae Asset Investment and Pension Center and Hankook Research in May, 70.6 percent of respondents said buying a house is nec...

South Korea’s sole bourse operator has named Sohn Byung-doo, former vice chairman of the Financial Services Commission, to take the new chief post of the Korea Exchange, according to the officials Friday. Sohn’s CEO appointment was approved by shareholders of the Korea Exchange, they added. Prior to the shareholders meeting, he was named as the single candidate for the position earlier this mon...

A Hannam-dong residence in central Seoul owned by Shinsegae Group’s chief retained its top position as the most expensive house in Korea, data showed Friday. The value of Shinsegae chairwoman Lee Myeong-hee’s 2,862-square-meter house, as assessed by the government, was 29.53 billion won ($26.88 million), up 6.6 percent from this year. Lee is the younger sister of late Samsung Group Chairman Lee ...

South Korea’s outbound shipments of music albums and videos reached an all-time high this year, in the wake of growing popularity of K-pop acts worldwide, data showed Thursday. According to data from the Korea Customs Service, the export amounts surged by 94.9 percent on-year to $170 million for the January to November period. It was based on the export declaration data of physical CDs and DVDs....

The Kospi hit a new all-time high on Wednesday on growing hopes over US stimulus talks and reports on vaccine candidates, closing at 2,771.79. The tech-heavy Kosdaq also rose to 939.65, marking its highest level in nearly 19 years. Amid the continued stock market rally, the total amount of loans taken out for stock investments by individuals in South Korea has exceeded 19 trillion won ($17.37 b...

An extra 60 trillion won ($54.91 billion) worth of foreign funds could flow into the South Korean stock market if the nation joins the Morgan Stanley Capital Investment Advanced Market Index, a market expert suggested Tuesday. Korea, the world’s 10th-largest exporter, ranked No. 9 in terms of stock market capitalization, making it a candidate for the MSCI list of developed markets, said Lee Hyo-...

South Korean retail investors last week injected over 1.2 trillion won ($1.1 billion) to buy Samsung Electronics shares that touched the 70,000 won mark for the first time earlier this month, data showed Monday. During the five trading sessions, small domestic investors scooped up nearly 1.26 trillion won of the blue chip shares, while foreign and institutional investors offloaded a net 1.07 tri...

Driven by the development of COVID-19 vaccines and their eventual distribution, South Korea’s economy will steadily recover in 2021, growing at 3.6 percent followed by a 0.8 percent contraction this year, according to Japan’s Nomura Securities on Thursday. “Amid the global capex (capital expenditures) recovery, current IT export products and new export products such as electric vehicles and bioh...

South Korea’s secondary bourse has continued to rally over the past few weeks, touching the 930-point mark during early trading on Tuesday and marking an 18-year high. The tech-heavy bourse reached 2,834.40 on March 10, 2000, the result of so-called “dotcom fever.” Since that bubble burst, it has never again surpassed the 943 points posted March 22, 2002. Considering the recent record-breaking ...

Shares of MP Group, the South Korean company that controls pizza restaurant franchise Mr. Pizza and coffee chain Manoffin, plunged over 21 percent at the close, after it resumed trading on the nation’s secondary bourse after some three years and four months. Shares of MP Group began trading at 1,920 won ($1.80), down 210 won or 9.86 percent, from the previous session’s close on July 25, 2017. Th...

South Korea’s main bourse, Kospi, topped the 2,700-point mark for the first time on Friday with a continued rally by giant chipmakers. The local currency’s value against the US greenback also rose further after reaching its highest point in 30 months a day earlier. As soon as trading began, the Kospi surpassed its previous record of 2,696.22 set a day earlier and soared to 2,705.34, up 9.12 poin...

South Korea’s main bourse Kospi continued its bullish run on Thursday with shares of market bellwether Samsung Electronics touching the 70,000-won mark during the intraday trading. Kospi started off at 2,686.38, up 10.48 points, or 0.39 percent, from the previous session’s close. Buttressed by both retail investors and foreigners’ buying spree, the index set an all-time high record of 2,696.22, ...

South Korea’s main bourse, Kospi, kept pace with the rallies of major stock markets in Group of 20 economies in November amid hopes of a global economic recovery and new coronavirus vaccine developments, data showed Wednesday. The Kospi index soared 14.3 percent through November, breaking the previous monthly increase record of 13.52 percent set in April 2009, according to data compiled by Bloom...

Sohn Byung-doo, former vice chairman of the Financial Services Commission, was named as the single candidate for the new chair post of the Korea Exchange, South Korea’s sole bourse operator, according to industry sources Tuesday. After conducting final interviews of three candidates a day earlier, the KRX’s chairman recommendation committee chose Sohn, insiders said without giving the names of t...

While South Korea’s benchmark index hit an all-time record of 2,633.45 on Friday, a global market gauge also reached a new high, suggesting the country’s stock market may be overvalued. The Buffett indicator -- US investor Warren Buffett’s preferred market indicator -- marked 112.7 percent as of Friday, according to data from the Bank of Korea and Korea Exchange on Monday. The indicator is calc...