S. Korean stocks rebound from N. Korea's missile rout

South Korean stocks traded slightly higher Wednesday morning as concerns over North Korea's latest missile launch abated.The benchmark Korea Composite Stock Price Index rose 1.31 points, or 0.06 percent, to 2,366.05 as of 11:15 a.m.On Tuesday, North Korea lobbed a ballistic missile over Japan in a move that could pose serious security challenges for Northeast Asia.Market heavyweights traded mixed, with market kingpin Samsung Electronics down 0.17 percent. SK hynix, a major chipmaker, rose 1.18 p

Aug. 30, 2017

Stocks open higher on US gains

South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street, although there is still lingering woes over North Korea's provocations.The benchmark Korea Composite Stock Price Index rose 0.86 point, or 0.04 percent, to 2,365.80 in the first 15 minutes of trading.On Tuesday, North Korea lobbed a ballistic missile over Japan in a move that can sharply raise tensions in Northeast Asia.Market kingpin Samsung Electronics was 0.39 percent up, while SK hynix, a major chi

Aug. 30, 2017

Stock markets recoup losses from NK missile launch

Stock markets in South Korea recouped earlier losses Tuesday, after being rattled yet again by another North Korea missile test in the morning, while local currency and short-term bonds remained weak.Korea’s primary stock market index Kospi closed at 2,364.74, down 0.23 percent from Monday. The index had tumbled by 1.58 percent at the lowest in late morning trade, but the daily loss began to gradually narrow in the afternoon. The secondary Kosdaq market gained 0.16 percent, after seeing 0.

Aug. 29, 2017

Jeju Air rakes in record high Q2 operating profit

　Jeju Air’s operating profit grew by 2,448 percent in the second quarter of this year compared to the same quarter last year, reaching a record high for twelve consecutive quarters, the airline said in a statement Tuesday.　Jeju Air recorded a second-quarter operating profit of 16.2 billion won ($14.4 million) and sales of 228 billion won, which was a 40.7 percent jump compared to the same period last year. In the first half of the year, the company recorded sales of 468.2 billion won, up 3

Aug. 29, 2017

[Advertorial] Samsung Securities leads in consumer protection

Samsung Securities took the lead in consumer protection among nine local equity brokerages, based on an annual assessment by the financial watchdog in South Korea.According to evaluations by the Financial Supervisory Service released Monday, Samsung Securities received the highest grade of “good” in all 10 indicators of customer service in 2016, out of three grading scales -- “good,” “satisfactory” and “insufficient.” Samsung Securities’ scor

Aug. 29, 2017

Korean stocks fall more than 1% on N. Korea's missile launch

South Korean stocks traded sharply lower Tuesday morning as market sentiment was spooked by North Korea's latest missile launch that could further escalate tensions on the Korean Peninsula.The benchmark Korea Composite Stock Price Index shed 34.32 points, or 1.45 percent, to 2,335.98 as of 11:15 a.m.North Korea lobbed a ballistic missile over Japan earlier in the day in a move that could pose serious security challenges for Northeast Asia. Reflecting the concern, market kingpin Samsung Electroni

Aug. 29, 2017

Mortgage applications jump ahead of tougher rules

South Korea's major banks saw mortgage applications surge early last week ahead of the implementation of tougher screening rules, market sources said Tuesday.The five leading lenders -- KB Kookmin, Shinhan, Woori, KEB Hana and Nonghyup -- notched up mortgage applications of more than 3,200 last Monday and Tuesday, respectively. The average number stayed in the 2,000 range in the first 20 days of this month.The amount of applied mortgages came to 419 billion won ($373 million) and 366 billion won

Aug. 29, 2017

Stocks open lower on N. Korea's missile provocation

South Korean stocks opened lower on Tuesday, as investors remained worried over North Korea's latest missile provocation that could further escalate tensions on the Korean Peninsula.The benchmark Korea Composite Stock Price Index shed 11.94 points, or 0.5 percent, to 2,358.36 in the first 15 minutes of trading. North Korea lobbed a ballistic missile over Japan earlier in the day in a move that can sharply escalate tensions in Northeast Asia.Market kingpin Samsung Electronics was 1.08 percent dow

Aug. 29, 2017

BOK chief criticizes presidential aide for comments over key rate

The head of South Korea's central bank on Monday lashed out at recent comments by a presidential aide that the low key rate is problematic. Officials "should be careful in making comments that could affect the financial markets," Bank of Korea Gov. Lee Ju-yeol said in a parliamentary session. It marked the second time this month that Lee has made a thinly veiled criticism against the presidential economic aide, who said in a recent interview with a newspaper that the low key rate is to

Aug. 28, 2017

[Advertorial] Hyundai Card launches advanced chatbot service

Hyundai Card, the credit card issuer affiliated with Hyundai Motor Group, has launched an artificial intelligence-based chatbot service to respond to customer inquiries, as part of its vision to evolve beyond finance into a digital company, according to officials.Buddy, the virtual agent available through Hyundai Card’s mobile application or website, offers users a real-time conversation with two personas -- Fiona and Henry. The service kicked off earlier this month as a beta version and i

Aug. 28, 2017

Global M&A market to remain active in H2

After years of overcoming a series of economic challenges, global investors led by private equity funds are now ready to step back into the merger and acquisition market, especially in new technology sectors, data showed.According to a survey conducted by Ernst & Young Han Young, the Korean office of the London-based accounting firm, the number of global M&A deals signed in January-June this year stood at 18,363, up 4 percent from the same period last year.Topping the market in amount wa

Aug. 28, 2017

Seoul stocks snap 4-day rise on won's gain, Samsung affiliates

South Korean stocks finished lower on Monday, as foreign investors cashed in recent gains due to the local currency's strength against the US dollar and a decline in Samsung affiliates, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index shed 8.21 points, or 0.35 percent, to close at 2,370.30.Trade volume was light at 224 million shares worth 3.94 trillion won ($3.53 billion), with gainers outnumbering losers 438 to 361.The local stock market

Aug. 28, 2017

Korean stocks down in late morning

South Korean stocks traded lower Monday morning, with market heavyweights coming under foreign selling. The benchmark Korea Composite Stock Price Index shed 7.98 points, or 0.34 percent, to 2,370.53 as of 11:15 a.m.Market kingpin Samsung Electronics fell 1.49 percent. SK hynix, a major chipmaker, declined 1.02 percent, and POSCO, the No. 1 steelmaker, was down 0.6 percent.Naver, the country's top Internet portal operator, gained 0.5 percent.Hyundai Motor, the No. 1 automaker, remained flat.The l

Aug. 28, 2017

Stocks open flat on lack of market momentum

South Korean stocks opened almost flat on Monday, as investors attempted to cash in recent gains amid lack of market momentum.The benchmark Korea Composite Stock Price Index rose 0.70 point, or 0.03 percent, to 2,379.21 in the first 15 minutes of trading.Market kingpin Samsung Electronics was 0.21 percent up, while SK hynix, a major chipmaker, sank 1.61 percent. Hyundai Motor, the No. 1 automaker, moved down 0.35 percent, while AmorePacific, the country's top cosmetics maker, shed 0.34 percent.N

Aug. 28, 2017

Conglomerate-run charity foundations own sizable shares in related companies

Many charity foundations operated by conglomerates own sizable shares in related companies, data from a corporate tracker showed Monday, an arrangement that the antitrust agency vowed to scrutinize for possible abuse by owner families.According to Chaebul.com, 40 various foundations run by the country's top 20 business groups own 6.7 trillion won ($5.94 billion) worth of shares of affiliates under the same parent conglomerate.At Samsung Group, South Korea's largest family-run business empire, th

Aug. 28, 2017

Nonbank lenders' corporate loans soar 17% in H1

Corporate lending extended by South Korea's nonbank financial institutions surged nearly 17 percent in the first half of the year amid tougher rules for household loans, central bank data showed Monday. Outstanding corporate loans by local secondary financial institutions, including credit cooperatives and savings banks, came to 113.4 trillion won ($101 billion) as of the end of June, up 16.9 percent, or 16.4 trillion won, from end-2016, according to the data by the Bank of Korea.The first-half

Aug. 28, 2017

Foreign ownership of top 10 group shares sinks 4.6% over past month

Foreign ownership of listed firms belonging to South Korea's top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday.Offshore investors held a combined 349.2 trillion won ($310 billion) worth of shares in 95 listed firms of the leading business groups as of Thursday, down 16.7 trillion won, or 4.56 percent, from a month earlier, according to the data from market tracker FnGuide.The South Korean stock market has been going through a correct

Aug. 28, 2017

[Advertorial] Citibank offers zero-commission, real-time global transfers

　Citibank Korea has been expanding its overseas remittance market by offering its customers zero transfer fees and immediate global currency transfer services, in an effort to meet increasing demand for the country’s rising number of foreign students and residents abroad, according to officials.　Transfers can be made in 17 currencies to 18 countries utilizing the global network of Citibank. While international remittances through most banks typically require one to three days to deliver, C

Aug. 27, 2017

Korea’s economic recovery remains vulnerable to N. Korea, THAAD

Despite the global economy seeing positive growth this year, Korea’s economic bounce back appears to be marred by continuous political disruptions with the North Korean regime’s nuclear threats, as well as China’s war against the deployment of THAAD, data showed. 　According to data recently released by the Bank of Korea, escalating economic hurdles caused by North Korea’s missile threats and China’s blackballing of Korean goods and products amid continued disputes r

Aug. 27, 2017

Foreigners may intervene in Samsung management after court ruling

Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. after a Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday.Foreign investors who collectively hold more than 50 percent stake in the world's largest smartphone manufacturer may demand the company's board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to five years in prison for bribery, embezzlement and other charg

Aug. 27, 2017