Security tension is most likely to return to focus in South Korea’s stock markets this week following the North’s sixth nuclear test Sunday, further dampening investors’ sentiment.A 5.7 magnitude tremor was detected in northeastern North Korea on Sunday at around 12:29 p.m., which North Korea claimed to be a test of a hydrogen bomb that can be loaded into its intercontinental ballistic missile.“The news would bring noise in investor sentiments and stock markets in South K

Market Sept. 3, 2017

A gold-embellished, red-lacquered pailou, or Chinese arch, looms over a street on the shore of South Korea’s port city of Incheon.The blue-colored board attached to the 11-meter high structure reads Zhonghuajia, Chinese for ‘Chinese avenue,’ marking the entrance to Incheon Chinatown, the largest Chinatown in the nation. For over 130 years, Incheon Chinatown has been standing as the only officially recognized one of its kind in Korea since 1884, when Joseon Dynasty leased parts of Incheon to Qing

Culture Sept. 1, 2017

Beats, melodies, or words flow into your ears uninterrupted, and no one can touch what you picture with the sounds. Earphones and headphones divide a solitude space among multitudes on a busy street, mass transit or in a room full of people. With the ability to escape unwanted noise, earphones have long become a natural necessity in modern everyday life.(123rf)Portable devices like the Walkman began to nurture the culture of earphones in South Korea in the 1980s. For decades, the compact devices

Technology Sept. 1, 2017

Hyundai Steel completed a seismic retrofit for a school free of charge Tuesday in an increasingly earthquake-prone zone in North Gyeongsang Province, South Korea. Hyundai Steel staff and executives including Executive Director Ham Young-chul (fourth from right) and the Principal of Naenam Elementary School Kim Nak-gon (fifth from left) pose for a photo at a ceremony to celebrate the completion of a seismic retrofitting project Tuesday. (Hyundai Steel)The Incheon-headquartered steelmaker, the sec

Industry Aug. 30, 2017

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.

Market Aug. 29, 2017

This is the 40th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdAmotech’s unhindered rally over the past two weeks seemed to mark a successful consequence of the partmaker’s decadelong efforts to expand into the electric car part business. The company’s stocks listed on the second-tier Kosdaq market closed at 33,750 won ($29.96) on Friday, up 26.9 percent from two weeks prior and up 53.8 percent from the end of last year. The Frid

Market Aug. 27, 2017

With Samsung Electronics Vice Chairman Lee Jae-yong sentenced to five years behind bars Friday for bribery, embezzlement and flight of capital, Samsung Electronics shares dropped over 1 percent.Samsung Electronics closed at 2,351,000 won ($2,080), down 1.05 percent compared to Thursday’s close. Samsung C&T, the de facto holding company of the group and one of the focal points of the corruption scandal, shed 1.48 percent.Meanwhile, other listed Samsung affiliates saw gains. Samsung Engi

Market Aug. 25, 2017

Kakao Bank solidified its position as South Korea’s leading direct bank in its first month of operation, data showed Thursday, although concerns persist over customer service scams and loopholes in authentication. As of Wednesday, Kakao Bank, the second online-only bank to open in Korea following K bank, attracted some 2.9 million bank accounts, through which customers made deposits and savings worth a combined 1.8 trillion won ($1.6 billion) and took out loans worth 1.3 trillion won. Thes

Market Aug. 24, 2017

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

Market Aug. 11, 2017

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

Market Aug. 10, 2017

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

Market Aug. 9, 2017

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

Market Aug. 8, 2017

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

Market Aug. 7, 2017

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

Market Aug. 6, 2017

This is the 39th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdSouth Korea is witnessing a revival in eco-friendly policy on the back of President Moon Jae-in’s promise of a “paradigm shift to a safer Republic of Korea” in terms of its energy supply.Moon‘s move to increase the role of new and renewable energy sources is bringing attention back to Unison, the leading provider of land-based wind farms in South Korea. Ove

Market Aug. 6, 2017