[THE INVESTOR] Korean companies are scurrying to issue new corporate bonds to raise cheap money as the country’s central bank recently cut its key rate to a historic low.  (Posco Daewoo)POSCO Daewoo, a trading company, is poised to issue new debt worth 100 billion won (US$ 85.5 million) early July in a bid to pay back its 200 billion won worth of bonds that mature on Nov. 16. “We plan to issue the bonds in advance due to the current low interest rate. If the US raises its rate during the second

June 17, 2016

[THE INVESTOR] South Korean stocks opened higher on June 17, tracking overnight gains on Wall Street after Britain postponed its referendum campaign on its European Union membership in the aftermath of a lawmaker’s death. The benchmark Korea Composite Stock Price Index advanced 16.38 points, or 0.84 percent, to 1,968.37 in the first 15 minutes of trading. Most large caps traded bullish. Market top cap Samsung Electronics gained 0.99 percent, and top automaker Hyundai Motor increased 1.12 percent

June 17, 2016

[THE INVESTOR] DreamT Entertainment, home to a four-member K-pop girl group Girl’s Day, plans to voluntarily delist from KONEX, the country’s stock exchange for start-ups and SMEs, to join the secondary KOSDAQ on Nov. 18.  Idol group Girl's Day.“As the company has started working on TV drama production, we expect additional revenue from our diversified business portfolio,” a Dreamt Entertainment official said. He blamed KONEX market’s low trading volume for the venue change, saying its corporate

June 16, 2016

[THE INVESTOR] South Korean share prices tumbled to near one-month low on June 16 on the cautious tone of the US Federal Reserve on the global economy amid rising risks involving Britain’s exit from the European Union. The local currency closed at 1,171.4 won against the US dollar, up 1.9 won from the previous session’s close.The benchmark Korea Composite Stock Price Index lost 16.84 points, or 0.86 percent, to close at 1,951.99, booking a sixth straight losing session. Trade volume was at 432.9

June 16, 2016

[THE INVESTOR] Hotel Lotte’s decision to scrap what would have been the nation’s largest-ever initial public offering is benefiting companies that are preparing to list on the local stock exchange in June.As Hotel Lotte’s IPO faces a major setback, firms expect to share the spotlight that had been focused on the Korean retail giant Lotte Group’s hotel unit. Hotel Lotte and Lotte Duty Free Shop.Some companies, which are set to go public on the benchmark KOSPI or secondary KOSDAQ market, are alrea

June 16, 2016

[THE INVESTOR] Korean shares opened slightly higher Thursday following the U.S. Federal Reserve’s decision to freeze the key interest rate. The benchmark Korea Composite Stock Price Index added 0.41 point, or 0.02 percent, to 1,969.24 during the first 15 minutes of trading. The U.S Federal Reserve decided to maintain interest rates at its former level on Wednesday considering Britain’s possible exit from the European Union, said Fed Chair Janet Yellen. Samsung Electronics dropped 0.78 percent, a

June 16, 2016

[THE INVESTOR] The benchmark Korea Composite Stock Price Index ranked 13th among major global stock market indices in terms of performance for a month ending June 14, a local securities firm said Thursday. The KOSPI produced a negative return of 0.57 percent during the period to take a slightly higher position among 40 major market indices worldwide examined by Daishin Securities. During the period, the KOSPI skidded from 1,983.40 points to 1,972.03 points. The KOSPI touched this year’s high of

June 16, 2016

[THE INVESTOR] The demand projection for corporate bonds to be issued by Halla Group’s Mando Corp. reached 510 billion won ($433.2 million). The amount was five times more than the estimated issuance target, according to financial sources on June 15. The projection was made to review the demand for 100 billion won worth of 3-year corporate bonds.The Korean parts-maker Mando made headlines after it was reported it would partner with Tesla Motors to jointly develop key technologies for the automak

June 15, 2016

[THE INVESTOR] South Korean stocks fell for five straight sessions on June 15 as sentiment was down on the possibility over Britain leaving the European Union. Investors were also sitting on the sidelines ahead of the Federal Reserve‘s rate decision. The Korean won fell slightly against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 3.2 points, or 0.16 percent, to close at 1,968.83. Trade volume was at 371.5 million shares worth 4.49 trillion won ($3.82 billion), with loser

June 15, 2016

[THE INVESTOR] The stock-listing of six power generation affiliates of state-run Korea Electric Power Co. that the government proposed Tuesday may face difficulties mainly due to insufficient investor interest, market watchers said. “Despite the government’s expected strong push in the latter part of this year, partial public stock offering of a state-run company is likely to face little interest from investors,” said Yoon Hee-do, a stock market analyst from Korea Investment & Securities. The ta

June 15, 2016

[THE INVESTOR] South Korea is not likely to get its stock market included in the Morgan Stanley Capital International’s Developed Markets in the long run, as the financial authority remains unchanged over its currency exchange regulations, financial regulators and analysts said.The MSCI announced Tuesday in New York that the global index provider will not include Korea on its “review list” for potential reclassification of its stock market to advanced status at least until after 2017.“The recent

June 15, 2016

[THE INVESTOR] LINE Corp., the messaging app arm of South Korea’s popular web portal Naver, has not been paying dividends to its shareholders and Seoul headquarters, according to documents on June 15. According to documents recently submitted to Tokyo’s main bourse operator, the Japan Exchange Group Inc. and the U.S.-based Securities and Exchange Commission, LINE has never issued dividends since it was launched in 2000. On the issue, the company elaborated about its dividend plans in the submitt

June 15, 2016

[THE INVESTOR] South Korea failed to put its stock market back on Morgan Stanley Capital International review list of developed market index candidates after failing to accept requirements from the widely followed global index provider, the financial regulator said Wednesday. MSCI cited the absence of an around-the-clock market to exchange Korean won with other currencies and delays in Seoul‘s packages of financial reforms that will take effect after 2017, as some of the main reasons, the Financ

June 15, 2016

[THE INVESTOR] South Korean government authorities have rejected some of the requirements issued by Morgan Stanley Capital International Inc. for joining its list of developed market index candidates.“Requests, such as operating an around-the-clock market to exchange Korean won is going to be tough,” said FSC Vice Chairman Jeong Eun-bo. “This is owing to Korea’s high reliance on exports, making market stability an important factor.” On June 14, MSCI said the Seoul bourse had failed to make it to

June 15, 2016

[THE INVESTOR] South Korean shares opened lower June 15 in light of growing “Brexit” rumors and investors adopting an uncertain attitude while waiting for the decision on rates by the U.S. Federal Reserve. The benchmark Korea Composite Stock Price Index slid down by 0.87 point, or 0.04 percent, to 1,970.16 in the first 15 minutes of trading. As decision on the U.S rate has been inching toward finalization since June 14, investors are keen on receiving more information on the matter. (Yonhap)Mark

June 15, 2016

[THE INVESTOR] South Korean stocks fell for four straight sessions on Tuesday as investors awaited the U.S. Federal Reserve‘s meeting amid concerns over Britain’s possible exit from the European Union. The Korean won edged up against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 7.05 points, or 0.36 percent, to close at 1,972.01. Trade volume was moderate at 434.38 million shares worth 4.91 trillion won ($4.19 billion), with losers far outnumbering winners 546 to 259.(Yonh

June 14, 2016