Retail investors' top 10 stocks log negative return rates

Korea's top 10 most popular stocks among retail investors, including tech titan Samsung Electronics and internet giants Naver and Kakao recorded negative return rates this year, as shares end lower on growing recession fears. The top 10 shares most bought by individual investors in Korea were Samsung Electronics, Naver, Kakao, preferred shares of Samsung Electronics, SK hynix, Doosan Enerbility, Kakao Bank, EcoPro BM, LG Electronics and Samsung Electro-Mechanics, Korea Exchange data showed.

Dec. 18, 2022

Elevated Korea-Vietnam ties invite century-long perspective

HANOI, Vietnam -- Key figures of South Korea and Vietnam pledged to cultivate a century-long perspective on the two nations’ shared prosperity which will lay the foundation for a shift in regional dynamics, in the wake of an upgrade in bilateral ties earlier this month. Long-lasting economic, industrial and cultural exchanges, as well as reciprocal cooperation between Korea and Vietnam are vital in the face of the global uncertainties disrupting industrial supply chains worldwide, said s

Dec. 18, 2022

Samsung, BMW chiefs ramp up electric vehicle battery partnership

Chief executives of Samsung Electronics and BMW Group, two leading business moguls in tech and automotive industries, met on Saturday to strengthen their electric vehicle battery alliance. Samsung Electronics Chairman Lee Jae-yong met with BMW Group Chairman Oliver Zipse at BMW’s driving center in Incheon to discuss further measures to facilitate collaboration, according to the Korean tech giant. It is the second time the two have met since Lee's business trip to Europe in July. &ld

Dec. 18, 2022

Can Vietnam mirror success of 'Miracle on the Han River'?

HANOI, Vietnam -- Behind the explosive economic growth of Vietnam, which achieved a 5 percent growth of real gross domestic product annually for two decades -- 1.7 times faster than the global average -- lies its dependence on foreign government aid for development and direct capital investment projects. As Hanoi looks to set the stage for full-fledged modernization nationwide, there is a growing need for Southeast Asia's fourth-largest economy to be independent, in part through promoting h

Dec. 18, 2022

[From the scene] Festivities fill air as 'kinship' of Korea, Vietnam reaches new heights

HANOI, Vietnam -- Sing-alongs at a mini concert of a legendary singer, a surprise appearance of Vietnam's national hero, eye-catching choreography, and festivities: these were the moments that captured the hearts of some 1,000 people at the Korea-Vietnam Economic Cooperation Forum 2022 held at the InterContinental Hanoi Landmark72 Friday. The event, designed to celebrate the 30 years of economic ties between South Korea and Vietnam, also hosted performances on its sidelines to mark the cu

Dec. 18, 2022

Provincial governments pin high hopes on elevated ties of Korea-Vietnam

HANOI, Vietnam - Provincial governments of Korea and Vietnam boasted their abundant infrastructure, key industries, and investor incentives during the Korea-Vietnam Economic Cooperation Forum held on Friday in Hanoi, Vietnam, pinning high hopes on elevated ties between the two countries. Kim Young-hwan, governor of North Chungcheong Province, suggested Korea and Vietnam work together to diversify global supply chains that are heavily reliant on China amid the escalating US-China rivalry. North C

Dec. 18, 2022

Boosting healthcare partnership between Korea, Vietnam

HANOI, Vietnam - South Korea’s Myongji Hospital and Vietnam’s Thai Binh Province on Friday signed a memorandum of understanding to boost the healthcare partnership between the two parties, on the sidelines of the Korea-Vietnam Economic Cooperation Forum 2022 held at InterContinental Hanoi Landmark72. The agreement, signed by Lee Wang-jun, chairman of Myongji Medical Foundation, and Pham Quang Hoa, director of Thai Binh Department of Health, aims to develop the Vietnamese provincial g

Dec. 18, 2022

Korea-Vietnam economic ties heading to next level

HANOI, Vietnam - Jeong Man-ki, vice chairman of the Korea International Trade Association, stressed now is the time for South Korea and Vietnam to seek the next level of economic ties as the two nations face structural and geopolitical challenges in his keynote speech during the Korea-Vietnam Economic Cooperation Forum held in Hanoi, Vietnam, on Friday. Under the title “Great Together, Next Prosperity 100,” Herald Corp., publisher of The Korea Herald and Herald Business, held the for

Dec. 18, 2022

SK to unveil latest low emission technologies at CES

South Korea's SK Group said Sunday it will present more than 40 up-to-date low carbon emission technologies at the upcoming Consumer Electronics Show in Las Vegas early next month, highlighting its drive for the green energy transition. Eight SK affiliates, including SK Inc. and SK Innovation Co., and 10 US-based partner companies will participate in the major international electronics trade show slated to take place from Jan. 5-8, under the theme of "Together in Action," the ener

Dec. 18, 2022

Hyundai IONIQ 5, Santa Fe win Kelley Blue Book Best Buy Awards

South Korea's Hyundai Motor Co. said Sunday the IONIQ 5 all-electric model and the Santa Fe SUV have received three awards in the 2023 Kelley Blue Book Best Buy Awards. The IONIQ 5 beat its rivals in two categories, winning the Electric Vehicle segment and the New Model segment. The Santa Fe won in the Two-Row Midsize SUV segment, the company said in a statement. The Best Buy Awards are based on expert vehicle evaluation and testing of nearly every new vehicle available. The overall process

Dec. 18, 2022

Hyundai Motor to supply vehicles for disabled during Libyan civil war

Hyundai Motor Co. said Sunday it has signed a deal with the Libyan government to supply 3,000 vehicles for those who became disabled during the Second Libyan Civil War. Under the deal, Hyundai Motor will provide 3,000 units of the Venue subcompact to the North African country by the first half of 2023, the company said in a statement. In 2021, the South Korean carmaker supplied 2,100 vehicles for the disabled in a deal with the General Authority for the Social Solidarity Fund in Libya. The compa

Dec. 18, 2022

Toss Securities joins hands with Hana Bank for 24-hour forex trading service

Hana Bank on Thursday signed a memorandum of understanding with Toss Securities, the brokerage arm of fintech company Viva Republica, to jointly provide around-the-clock service for foreign exchange trading. “Through continuous cooperation with various financial companies like Toss Securities, we will create a new trend in the foreign exchange market,” Hana Bank official Namgoong One said in a statement. According to Hana Bank on Friday, the bank will mainly provide exchange rate i

Dec. 16, 2022

Seoul shares end lower on growing recession fears

South Korean stocks finished slightly lower Friday as investors worried about a global economic slowdown amid the Federal Reserve's continued push for aggressive monetary tightening. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 0.95 point, or 0.04 percent, to close at 2,360.02, extending a losing streak to a second session. The trading volume was moderate at 404.6 million shares worth 7.03 trillion won ($4.31 billion), with decliners ou

Dec. 16, 2022

Hyundai Pharm withdraws application for abortion pill approval

The Ministry of Food and Drug Safety said on Friday Hyundai Pharmaceutical voluntarily withdrew its application for the approval of its abortive drug Mifegyne, consequently dimming South Korea's prospect for medication abortions. "The company was unable to send in the data required by the Ministry of Food and Drug Safety in time, and decided to withdraw the application for the time being," said an official from Hyundai Pharm. As Mifegyne contains a new substance to be used for the

Dec. 16, 2022

[Newsmaker] Twitter suspends accounts of journalists covering Musk

SAN FRANCISCO -- Twitter suspended Thursday accounts of more than a half-dozen journalists who had been writing about the company and its new owner Elon Musk. Silencing journalists at Twitter while claiming to be a free speech champion is the latest controversy provoked by Musk since he took over the company, which has seen staffing gutted and advertisers exit. Some of the journalists had been tweeting about Twitter shutting down an @ElonJet account that tracked flights of billionaire Musk

Dec. 16, 2022

Seoul shares open lower on recession woes

South Korean shares opened sharply lower Friday, tracking overnight losses on Wall Street, as the US Federal Reserve's continued push for aggressive monetary tightening deepened concerns about a global economic recession. The benchmark Korea Composite Stock Price Index fell 20.39 points, or 0.86 percent, to 2,340.58 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average lost 2.25 percent, and the tech-heavy Nasdaq Composite sank 3.23 percent, as data showed that ret

Dec. 16, 2022

Lotte reshuffle prioritizes 'same but younger faces'

South Korea's fifth-largest conglomerate Lotte Group seeks to give fresh impetus to its affiliates suffering overall lackluster performances through a year-end personnel reshuffle. Lotte's latest reshuffle highlights the expansion of its young leadership, with 46 percent of the newly selected executives in their 40s. Former Executive Vice President Lee Hoon-ki, who led Lotte Group's ESG Management Innovation Office, was promoted to president of Lotte Healthcare, joining the group&

Dec. 15, 2022

Airports eye travel rebound induced by K-culture boom next year

Piggybacking on the global popularity of Korean culture led by K-pop and K-dramas, Korea Airports Corporation said Thursday it is going all out to attract more international travelers next year. “Welcoming 2023 and 2024 as the Visit Korea Year, we plan to bring in as much as 8.5 million inbound travelers, 40 percent of the pre-pandemic level, by combining K-culture and tourism,” Korea Airports Corporation CEO Yoon Hyeong-jung said during a press conference at the company headquarte

Dec. 15, 2022

Seoul shares end lower on hawkish Fed tone

Seoul shares ended lower Thursday after the US Federal Reserve signaled its plans for additional interest rate hikes next year with the warning of an economic slowdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 38.28 points, or 1.60 percent, to close at 2,360.97. Trading volume was light at 366.15 million shares worth 6.03 trillion won ($4.6 billion), with decliners outstripping gainers 540 to 307. Institutions and foreigners sold a combined

Dec. 15, 2022

[From the Scene] Hyundai Motor seeks to provide best EV aftersales service

CHEONAN -- South Korea’s leading carmaker Hyundai Motor Group is looking to stay ahead in electric vehicle aftersales services as the company continues to ramp up the development and production of EVs amid the increasing demand for eco-friendly cars. Lee Tae-soo, vice president of Hyundai Motor’s Korean customer service division, pointed to how the country's growing EV market meant customers have come to expect more from them. Korean carmakers from January to October this year s

Dec. 15, 2022