Four financial entities offered preliminary bids Monday to buy Daewoo Securities Co., in a deal that could come as a game changer for the local brokerage industry, the state-run Korea Development Bank (KDB) said.    The prospective buyers are KB Financial Group Inc., the largest banking giant by assets; the country's leading asset management expertise firm of Mirae Asset Group; Korea Investment Holdings Co.; and the employee stock ownership association led by Daewoo's labor union.   The bidding

An increasing number of stock investors in Korea are using mobile gadgets, including smartphones and tablet PCs, for their trading, the Korea Exchange said Monday.The mobile-based equity trading is particularly prevalent on the secondary tech-heavy KOSDAQ. The ratio of “buy or sell” orders via mobile gadgets to the total came to a record of 25.06 percent as of Oct. 28, compared to 21.27 percent at the end of 2014.In 2010, the KOSDAQ saw the share of mobile trading stay at 3.8 percent. Most of th

South Korean stocks closed slightly higher Monday as investors scooped up companies opting for big stock buybacks and more dividends, with insurance and tech shares leading the gain. The local currency gained against the U.S. dollar.  The benchmark Korea Composite Stock Price Index rose 5.77 points, or 0.28 percent, to 2,035.24. Trading volume was slim at 357.97 million shares worth 3.77 trillion won ($3.3 billion), with losers outpacing winners 467 to 347.  Analysts said slowing South Korea's e

Stock transactions via mobile gadgets have grown sharply in South Korea over the past year as more retail investors opt to use smartphones and tablets for trading, the bourse operator said Monday.   Trading through mobile devices accounted for 25.06 percent of the total in the tech-laden KOSDAQ market as of Oct. 28, up from 21.27 percent a year earlier, according to the Korea Exchange.   The ratio has been on a steady rise over the past five years from 3.8 percent in 2010 to 14.03 percent in 201

South Korea's top financial regulator said Sunday that it will push the Korea Development Bank to sell its stakes in companies purchased through debt-for-equity swaps within three years as part of its plan to overhaul the state-run policy lender.The plan is a response to rising criticism that a large amount of taxpayer money will go down the drain in the wake of the KDB's decision to bail out a financially troubled shipbuilding company despite a slim chance for its revival.Last week, creditor ba

Lotte Group Chairman Shin Dong-bin bought a 2.1 percent stake in Lotte Confectionery Co. on Friday, emerging as the second-largest shareholder in one of the group's major affiliates.Shin spent around 69 billion won (US$60.5 million) in buying a total of 30,000 shares in Lotte Confectionery, the company said in a regulatory filing. The purchase was made during after-hour trading.The purchase brought his stake in Lotte Confectionery to 8.78 percent, which exceeded a 6.83 percent stake owned by his

Samsung SDI Co., the battery-making unit of Samsung Group, said Friday it swung to a net profit in the third quarter of the year on one-off gains from its sales of stakes in other group firms. Net profit came to 502.4 billion won in the July-September period, a turnaround from a net loss of 12.9 billion won a year earlier, Samsung SDI said in its regulatory filing.Sales advanced 5.6 percent on-year to reach 1.99 trillion won, while operating profit plunged 45.1 percent to 17.83 billion won.In th

South Korean stocks closed 0.23 percent lower Friday as investors took a wait-and-see approach amid concerns over a possible U.S. rate hike in December. The local currency closed higher against the greenback.The benchmark Korea Composite Stock Price Index fell 4.69 points 2,029.47. Trading volume was moderate at 366.2 million shares worth 6 trillion won ($5.25 billion) with decliners far outpacing advancers 602 to 212.Analysts said Seoul shares traded bearish as investors remained concerned over

South Korea's top cosmetics maker AmorePacific Co. said Friday its third-quarter earnings jumped 34.9 percent on-year as strong performance in China more than offset sluggish duty-free sales in the wake of the Middle East Respiratory Syndrome outbreak. Its net earnings came to 142.24 billion won ($124.93 million) in the July-September period on a consolidated basis, compared with 104.45 billion won a year earlier, the company said in a regulatory filing.Operating income rose 10.7 percent on-year

South Korean stocks traded nearly flat late Friday morning as institutions dumped local shares on rising speculation that the U.S. Federal Reserve may raise its key interest rate this year, analysts said. The benchmark Korea Composite Stock Price Index inched down 0.42 point, or 0.02 percent, to 2,033.74 as of 11:20 a.m.Market kingpin Samsung Electronics surged 3.7 percent after the company on Thursday announced plans to buy back its own shares worth a total of 11.3 trillion won ($10 billion) to

KT Corp., South Korea's No. 2 mobile carrier, said Friday its net profit advanced 70.2 percent in the third quarter from a year earlier on efforts to boost the competitiveness of its core business and cost efficiency. Net profit came to 125.9 billion won ($110.2 million) in the July-September period, compared to 73.9 billion won posted last year, the company said in a regulatory filing.Operating profit came to 343.3 billion won, up 17.8 percent from a year earlier. Sales, in contrast, shed 2.9 p