Amid a plunge in the domestic stock market, private investors who purchased stocks on loans are suffering losses due to liquidation sales.According to the Korea Financial Investment Association on Tuesday, the number of liquidation sales has soared this month, reflecting the growing concerns on the upcoming U.S. interest rate hike.Liquidation sales refer to the sell-off of stocks that a securities company executes in order to make up for the differences, should a credit-purchaser fail to make th

South Korean stocks traded 1.27 percent higher late Tuesday morning on the back of gains in techs and financial shares.The benchmark Korea Composite Stock Price Index added 24.66 points to 1,967.68 as of 11:20 a.m.Market behemoth Samsung Electronics advanced 1.03 percent, while its smaller rival LG Electronics increased 3.53 percent. LG Display added 2.43 percent. Shinhan Financial moved up 2.78 percent, and KB Financial increased 1.01 percent. Hana Financial rose 0.58 percent.The local currency

South Korean retail giant Shinsegae said Tuesday it will open a new duty-free store in downtown Seoul in April after facility renovation, stepping up its efforts to lure customers away from its bigger rivals. After beating SK Networks to take over its Seoul license on Saturday, Shinsegae Duty Free has started preparations to open a new outlet at its flagship department store in Myeongdong, a major shopping district in the capital.It is the first time for Shinsegae to open a duty-free store in th

South Korean stocks started higher Tuesday as investors scooped up undervalued shares on overnight gains on Wall Street, shrugging off potential fallout from the Paris terrorist attacks, analysts saidThe benchmark Korea Composite Stock Price Index added 21.06 points, or 1.08 percent, to 1,964.08 in the first 15 minutes of trading.Top steelmaker POSCO advanced 1.81 percent, and Korea Zinc added 0.11 percent. No. 2 steelmaker Hyundai Steel climbed 1.41 percent.Market behemoth Samsung Electronics i

President Park Geun-hye called Monday for a careful adjustment of monetary policies of advanced countries amid lingering worries over a potential Fed rate hike.Last month, the U.S. Federal Reserve kept interest rates at near zero due to global headwinds but suggested that it could raise rates by the end of the year."The normalization of monetary policies of advanced countries should be adjusted in a careful and gradual manner by taking into account their impact on the world economy," Park said i

Top smartphone maker Samsung Electronics Co. is expected to face challenges in keeping its 20-percent level market share around the globe due mainly to growing rivalry from Chinese firms, a credit appraiser said Monday.Standard & Poor's said Samsung is set to face challenges as the barriers in the smartphone industry against Chinese firms have weakened."These companies, and an increasing number of other smartphone makers, now offer good-quality smartphones at affordable prices, benefiting from c

The South Korean government said Monday that it will heighten monitoring of the local economy and financial market and if necessary, it will take action to fend off any fallout from the terrorist attacks in Paris that killed more than 120 people.At least 129 people were reported dead on Friday (local time) following several separate terror attacks in and around the French capital, apparently committed by the Islamic State extremist group.In a hastily arranged meeting, the finance ministry said t

South Korean stocks plunged to an almost 3-month low Monday as investors remained concerned that the terrorist attacks in Paris will weigh down the eurozone economy.The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 30.27 points, or 1.53 percent, to 1,943.02. Trading volume was light at 408.7 million shares worth 4.08 trillion won ($3.48 billion), with decliners surpassing gainers 631 to 200.Analysts said the Paris attacks, believed to be

The number of subscribers to smartphone-based mobile banking services topped 60 million in South Korea in the third quarter, central bank data showed Monday.Smartphone banking users of 16 local commercial banks and the Korea Post reached a combined 60.08 million as of end-September, up 4.4 percent from 57.52 million three months earlier, according to the data compiled by the Bank of Korea.The number of smartphone banking clients has been on a steep rise for the past few years, from 37 million in

South Korean stocks traded 0.91 percent lower late Monday morning amid growing concerns over terrorist attacks in Paris, coupled with the rising woes over the U.S. key interest rate, analysts said.The benchmark Korea Composite Stock Price Index fell 17.91 points to 1,955.38 as of 11:20 a.m.Tech shares continued to trade bearish, with top market cap Samsung Electronics falling 1.62 percent and LG Electronics losing 0.91 percent. SK hynix shed 1.61 percent.Builders also lost ground, with Hyundai E

South Korean stocks started lower Monday as demand for risky assets fell after the terrorist attacks in Paris on Friday.The benchmark Korea Composite Stock Price Indexshed 23.13 points, or 1.17 percent, to 1,950.16 in the first 15 minutes of trading.Believed to be Islam-related terror attacks, the incidents in the French capital Friday night (Paris time) left more than 100 dead, with hundreds more injured.Tech shares led the decline, with top tech behemoth Samsung Electronics falling 1 percent a