China has become Korea’s largest bond investor for the first time, according to the Financial Supervisory Service on Thursday. The world’s second-largest economy holds Korean state bonds worth 17.5 trillion won ($14.9 billion) as of the end of last month, surpassing the country’s previous top investor -- the U.S., which has invested about 14.4 trillion won in fixed-income securities.China’s Korean bond holdings now account for about 18 percent of the total bonds worth 97 trillion won held by for

China emerged as the No. 1 investor in Korean bonds, relegating the U.S. to the second spot, a move seen as part of its investment portfolio adjustment, the country's main bourse said Thursday. At the end of February, China owned 17.5 trillion won ($14.9 billion) worth of Korean bonds, followed by the U.S. with 14.4 trillion won, Switzerland with 13.2 trillion won and Luxembourg with 10.2 trillion won, according to the Korea Exchange (KRX).In the 2014-2015 period, China was the second-largest ho

Foreign investors offloaded Korean stocks and bonds in February in extended capital flight amid lingering concerns over the global economic slowdown, the financial watchdog said Thursday. Offshore investors sold a net 194 billion won ($162 million) worth of Korean stocks last month, sharply narrowing down from the previous month's selloff of 3.07 trillion won. They dumped 4.23 trillion won worth of bonds, soaring from 487 billion won during the same period, the Financial Supervisory Service (FSS

South Korea ranked as the world's sixth most financially advanced country among 183 countries, a survey showed on Thursday.Korea's financial institutions earned the sixth-highest score of 0.854 in financial advancement, following Switzerland with 0.951, Australia with 0.890, Great Britain at 0.882, the United States' 0.877 and Spain's 0.860, according to the survey conducted by the International Monetary Fund (IMF).The results were based on an analysis of three factors in the subjected countries

Hyundai Motor Co., Korea’s No. 1 carmaker, raised 342 billion won ($289.9 million) by selling 5 percent of Korea Aerospace Industries in after-hours block trades on Wednesday, the company said in a filing Thursday.The sale of 4.87 million shares at 70,200 won apiece takes Hyundai Motor’s stake in Korea’s sole aircraft maker to 5 percent from the previous 10 percent. The auto firm is now KAI’s fourth-largest shareholder, after the state-run Korea Development Bank, which as of March 16 held a 26.8

The turnover rate for demand deposits dropped to a near 9-year low in January, indicating that more people are choosing to keep their money in banks, rather than spend or invest. Data from the Bank of Korea on Thursday showed January’s turnover rate sat at 21.2, the lowest since February 2007. Lower turnover indicates fewer withdrawals, meaning consumers are holding on to their cash despite the central bank’s efforts to pump more money into the economy by keeping key rates at record lows. After

South Korean shares traded higher late Thursday morning on eased uncertainties surrounding the Federal Reserve's policy direction and its dovish stance, feeding investors' appetite for risky assets. Traders monitor Seoul share prices at a local bank. (Yonhap)The benchmark Korea Composite Stock Price Index (KOSPI) surged 23.11 points, or 1.17 percent, to 1,998.01 as of 11:20 a.m.After the Fed's decision to hold interest rates unchanged this month, offshore investors are showing a revived interest

Shares in Codes Combine, a loss-making clothing company, closed 6.68 percent lower Wednesday, ending a nine-day rally that prompted the bourse operator to launch a probe for a suspected price rigging scheme. The shares ended at 141,000 won ($118) on the secondary KOSDAQ exchange, after choppy trading that sent the stock price 17.27 percent down at one point and 21.84 percent up at another point. Between March 3 and Tuesday, Codes Combine stock gained a whopping 559 percent in value, rising by th

Eugene Corp., the country’s largest ready-mixed concrete maker, declared Tuesday a takeover bid for its smaller rival Tongyang, saying it will raise its stake in the target through open-market purchases. “Eugene will continue share purchases until it secures control of Tongyang’s management,” the firm said in a filing after the stock market closed Tuesday. Eugene is currently Tongyang’s second largest shareholder, with a 9.29 percent stake. Pinetree Asset Management is the largest stakeholder an

Korean shares ended higher Wednesday as investors expect the U.S. Fed to freeze its policy rates, analysts said. The local currency fell against the U.S. dollar.After moving in a tight range, the benchmark Korea Composite Stock Price Index (KOSPI) gained 4.93 points, or 0.25 percent, to finish at 1.974.90. Trading volume was moderate at 289.95 million shares worth 4.06 trillion won, with decliners outnumbering gainers 411 to 390.Investors are increasingly turning their eyes to a two-day Federal

The number of Korean venture capital investment firms reached a record high of 118 on the back of the government’s drive to support local start-ups in line with its policy to develop a creative economy, according to the Small and Medium Business Administration on Wednesday.This is also due to relaxed regulations enabling VC firms to be set up with equity capital of 5 billion won. Previously, Korea only allowed VCs with more than 7 billion in equity capital to be established.In addition to the go

Samsung Engineering shares gained more than 4 percent in midday trading on Tuesday as Korea’s bourse operator lifted its two-week suspension due to the firm’s capital erosion.Shares in Samsung’s plant construction unit rose 4.41 percent higher at 9,940 won following more than a 10 percent surge in early trading. Trading of Samsung Engineering shares had been suspended in the KOSPI market since Feb. 29 as the company said that its capital had completely eroded as of December last year. Korea Exch

Korea Securities Computing Corp. will team up with a major Vietnamese securities trading exchange to jointly develop financial information technology solutions for the Vietnamese capital market.The local financial IT solution provider said on Wednesday its CEO met with his counterpart of the Ho Chi Minh City Stock Exchange, or HOSE, to attend a signing ceremony of a memorandum of understanding between the two firms held a day earlier in Vietnam. “We hope that the MOU will pave the way for us to

Expert advises pension fund to recruit more professionals for sustainability

South Korean shares ended the morning session just barely in the positive on Wednesday as investors wait for results from the two-day U.S. Federal Open Market Committee meeting that ends today.The benchmark Korea Composite Stock Price Index gained 3.91 points, or 0.2 percent, to 1,973.88 in the first 15 minutes of trading. As of 12:04 p.m., it was trading 0.19 percent higher at 1973.67 points.  Traders monitor South Korean share prices at a local bank. (Yonhap)Overnight, the Dow Jones industrial