Most Popular
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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S. Korea not to attend Sado mine memorial: foreign ministry
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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[Weekender] Korea's traditional sauce culture gains global recognition
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BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
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Over 80,000 malicious calls made to Seoul call center since 2020
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Gyeongju blends old with new
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Wealthy parents ditch Korean passports to get kids into international school
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Banks’ loan balance up despite mortgage control plan
Despite recently tightened restrictions on mortgage loans as part of the Moon administration’s anti-speculation measures, the total loan balance for major banks continued to rise, albeit slightly, with borrowers turning to credit loans instead.During the week following the real estate policy announcement on Aug. 2, the daily average of mortgage loans filed at the top four banks -- KB Kookmin, Shinhan, KEB Hana, and Woori -- stood at 277.4 billion won ($242 million). The amount was close to
Aug. 11, 2017
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Mirae Asset Daewoo to open Indian brokerage entity
Mirae Asset Daewoo, a leading asset manager here, will establish a brokerage business in India as early as within the year.The company appointed Ryu Han-suk, a manager from its Indonesian operation, as the head of the incoming entity in India, according to officials.“The goal is to establish the Indian branch this year and to kick off business early next year,” said an official of the company. Though details such as total investment and the size of the staff have not been reveal
Aug. 11, 2017
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[Newsmaker] Korea on alert against market volatility over NK
South Korea’s government and central bank expressed concerns over increasing market volatility sparked by the unfolding conflict between the United States and North Korea, while stock market analysts attributed the latest decline to foreign investors’ profit-seeking. On Friday, the first-tier Kospi market closed at 2,319.71, after a 1.69 percent dip from Thursday, while the tech-heavy Kosdaq dived 1.83 percent. On the top market, foreign investors net sold 648.8 billion won ($566.1 m
Aug. 11, 2017
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NK tension dampens stocks, currency
South Korea’s stock markets and currency remained weak for the second consecutive day Thursday, amid escalating political tension on the Korean Peninsula.The first-tier market’s composite index Kospi closed at 2,359.47, down 0.38 percent from Wednesday, while the tech-heavy Kosdaq dropped 0.44 percent. The Kospi extended its three-day losing streak, while the Kosdaq tumbled for two consecutive days.Foreign investors adhered to selling for two straight days. Offshore buyers sold stock
Aug. 10, 2017
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S. Korean shares end lower on foreign selling amid tensions over N. Korea
South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.92 points, or 0.38 percent, to 2,359.47.Foreigners and retail investors offloaded shares worth more than 286 billion won ($250 million) and 168 billion won, respectively, while institutions scooped up more than 429 billion won, keepin
Aug. 10, 2017
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S. Korean shares extend losses amid tensions over N. Korea
South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States a
Aug. 10, 2017
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S. Korean shares open lower amid tensions over N. Korea
South Korean stocks opened lower Thursday as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 4.19 points, or 0.18 percent, to 2,364.20 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States
Aug. 10, 2017
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Race for No. 1 online-only bank intensifies
The race between K bank and Kakao Bank, the two frontrunners in South Korea’s online-only banking sector, is heating up, with the firms competing to offer better incentives for customers.K bank, the first bank in operation without a brick-and-mortar branch, has decided to extend its higher interest rate offer for its time deposit products in response to its tepid performance over the last four months, while the second mover Kakao Bank is addressing customer service malfunctions. K bank sai
Aug. 9, 2017
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S. Korean stocks down 1.1% on heightened tensions over N. Korea
South Korean stocks ended lower Wednesday morning as foreign investors offloaded large-cap stocks amid heightened tensions over North Korea's nuclear and missile programs. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 26.34 points, or 1.1 percent, to 2,368.39.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States weighed on the main index.Foreign investors sold over 259 billion won ($228 milli
Aug. 9, 2017
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S. Korean shares extend losses on heightened tensions over N. Korea
South Korean stocks extended losses late Wednesday morning as rising tensions over North Korea's nuclear and missile programs weighed on the main index.The benchmark Korea Composite Stock Price Index lost 21.27 points, or 0.89 percent, to 2,373.46 as of 11:25 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.15 percent, with the tech-heavy Nasdaq composite index declining 0.21 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said
Aug. 9, 2017
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Korean shares open lower on heightened tensions over N. Korea
South Korean stocks opened lower Wednesday as rising tensions over North Korea's nuclear and missile programs weighed on the main index.The benchmark Korea Composite Stock Price Index lost 12.44 points, or 0.52 percent, to 2,382.29 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.15 percent, with the tech-heavy Nasdaq composite index declining 0.21 percent. Kim Ye-eun, an analyst at Cape Investment & Securities,
Aug. 9, 2017
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P2P financing industry to absorb investors' demands
The drastic expansion of the peer to peer financing market seemed to be slowing down over the past months due to tightened investment regulations, but is expected to see a rebound from the recent fiscal tapering of the banking sector.It is especially likely to absorb the investor cluster who, under the government’s new restrictive measures on real estate transactions, are swiftly turning away from banks and seeking for an alternative source of investment income, according to industry watch
Aug. 8, 2017
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Banks' net profit rises 171%
Banks in South Korea saw their gross net profit reach 8.1 trillion won ($7.19 billion) during the first half of this year, an over 2.7 times increase on-year, while their operating profit surged by more than sixfold, data showed Tuesday.The net profit of all banking institutions -- including commercial banks, provincial banks, state-owned banks, cooperative banks and the central bank -- surged 171.4 percent from 3 trillion won in the first half of 2016. The operating profit jumped to 9.7 trillio
Aug. 8, 2017
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Seoul stocks end lower on institutional selling
South Korean stocks fluctuated to close lower Tuesday as institutional buyers went on a heavy selling-spree to partially offset some foreign buying, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index surrendered 4.02 points, or 0.17 percent, to close at 2,394.73. Trade volume was low at 243 million shares worth 4.5 trillion won ($4 billion), with losers outnumbering gainers 447 to 345.Foreigners went on a two-day buying streak and purchased a
Aug. 8, 2017
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Seoul shares down in late morning on institutional selling
South Korean stocks traded lower late Tuesday morning as institutions offloaded large-cap stocks in an apparent move to lock in profits, analysts said.The benchmark Korea Composite Stock Price Index lost 6.44 points, or 0.27 percent, to 2,392.31 as of 11:20 a.m.The Seoul index had opened higher on Wall Street gains. On Monday (local time), US stocks closed higher, with the Dow edging up 0.12 percent to its ninth-record closing high in a row and the S&P 500 adding 0.16 percent on consumer and
Aug. 8, 2017
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Stocks open higher on Wall Street rally
South Korean stocks opened higher Tuesday following overnight Wall Street gains, analysts said.The benchmark Korea Composite Stock Price Index added 8.63 points, or 0.36 percent, to 2,407.38 in the first 15 minutes of trading.On Monday (local time), US stocks closed higher, with the Dow edging up 0.12 percent to its ninth-record closing high in a row and the S&P 500 adding 0.16 percent on consumer and technology sector gains.Most large caps on the Seoul bourse traded mixed, with tech and med
Aug. 8, 2017
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W50,000 bills account for 80% of cash
Nearly 80 percent of the entire volume of currency in circulation, or more than 80 trillion won ($70.9 billion), was in the form of South Korea’s largest-denominated 50,000 won banknote in the first half of 2017, data showed Monday. According to the Bank of Korea, around 80.4 trillion won was circulated in 50,000 won notes as of June, up 6.1 percent compared to the end of 2016. This accounted for 79.2 percent of the entire volume of money in the domestic market. About one-fifth of 50,000 w
Aug. 7, 2017
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Seoul stocks end mildly higher on foreign buying
South Korean stocks closed slightly higher Monday as foreign buyers sought bargain hunting on signs of recovery in the global economy, offsetting a massive selling spree by institutional investors. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index inched up 3.3 points, or 0.14 percent, to close at 2,398.75. Trade volume was low at 240 million shares worth 4.3 trillion won ($3.8 billion), with gainers outnumbering losers 458 to 338.Foreign investors reverse
Aug. 7, 2017
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Stocks open higher on US gains
South Korean stocks opened higher Monday following gains late last week on Wall Street that were buoyed by sound employment data, analysts said.The benchmark Korea Composite Stock Price Index added 7.8 points, or 0.33 percent, to 2,403.25 in the first 15 minutes of trading.On Friday (local time), US stocks closed higher, with the Dow adding 0.30 percent and the S&P 500 gaining 0.19 percent after a strong US July payrolls report.Most large caps on the Seoul bourse were mixed, with tech and ch
Aug. 7, 2017
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Tax revision unlikely to pressure foreign investors, but shocks may persist: analysts
Stock analysts in South Korea played down the possible impact of the government’s decision Wednesday to impose taxes on foreign investors holding over 5 percent of a company, but warned of widening volatility prompted by foreign investors’ sell-offs over the past couple of weeks.Starting January 2018, a broader scope of offshore investors are subject to taxation, since the proposal by the government aims to widen the definition of “major shareholders,” referring to those
Aug. 6, 2017