South Korean stocks traded 0.82 percent lower late Tuesday morning on losses in techs and insurers, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.77 points to 1,916.93 as of 11:20 a.m.   Tech shares traded bearish, with Samsung Electronics falling 2.25 percent and Samsung Electro-Mechanics, a South Korean industrial parts maker, losing 1.63 percent.   Insurers also lost ground, with Samsung Life Insurance falling 1.83 percent and Samsung Fire & Marine Insuranc

South Korean stocks opened lower Tuesday as investors' sentiment was dented by the weak Japanese currency, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 9.43 points, or 0.49 percent, to 1,923.27 in the first 15 minutes of trading. Tech blue chips traded lower, with market behemoth Samsung Electronics falling 1.47 percent and its smaller domestic rival LG Electronics losing 0.26 percent. Top chipmaker SK hynix declined 0.31 percent.Brokerage houses also traded b

The Finance Ministry is considering selling some of its dominant stake in the Industrial Bank of Korea in an apparent bid to raise state funds for President Park Geun-hye’s policy agenda, government officials said Monday.While the ministry holds a 65.1 percent stake in IBK, it is seeking to dispose of about 15 percent and maintain its position as majority shareholder with a controlling stake of about 50.1 percent, according to officials.To attract investors, the state-funded IBK, in coordination

South Korean stocks rose 0.46 percent Monday on the market outlook that the U.S. Federal Reserve may maintain its economic stimulus measures down the road, analysts said. The local currency fell against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.85 points, or 0.46 percent, to close at 1,932.70. Trading volume was low at 268.1 million shares worth 3.67 trillion won (US$3.27 billion) with gainers outpacing losers 533 to 296.  "Seoul shares gathered ground o

South Korean stocks traded higher late Monday morning on gains in techs and retailers, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) gained 4.89 points to 1,928.74 as of 11:20 a.m.   Tech shares traded bullish, with Samsung Electronics adding 0.28 percent, recouping losses made in the previous tradingsession. The market behemoth plunged 6.18 percent to 1,427,000 won, the lowest since Feb. 6 on Friday.   Retailers also traded higher, with Lotte Shopping rising 0.98 perc

South Korean stocks opened higher Monday tracking gains on the Wall Street in the previous trading session, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.18 points, or 0.11 percent to 1,926.03 in the first 15 minutes of trading. Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor adding 0.48 percent and its smaller affiliate Kia Motors advancing 0.17 percent. Top chipmaker SK hynix added 3.54 percent. U.S. stocks gained ground on Friday

Korea expects effects from extra budget, rate cut

Successful retrieval of public funds depends on global economic recovery

South Korean stocks are expected to gain ground late this week after moving sideways early in the week before the central banks of South Korea and Japan hold their respective rate-setting meetings, analysts said. The benchmark Korea Composite Stock Price Index closed on Friday at 1,923.85, down 3.85 percent from 2,001.05 a week ago. Analysts said that if the Bank of Korea confirms its policy to boost up the ailing economy at its June rate-setting meeting slated for Thursday, the KOSPI will botto

The sale of Woori Finance Holdings is open to foreign investors as well, Korea’s top financial regulator said Friday, amid the government’s stern move to wrap up the long-pending privatization of the country’s largest banking group.Shin Je-yoon, the chairman of the Financial Services Commission, stressed that there is “no discrimination against foreign banks” concerning the sale.“We’ll announce the plan (of Woori sale) at the end of this month, and (we) don’t have any intention to discriminate (

Board members to choose emergency remedies like court receivership

As KB Financial Group picked Lim Young-rok as its new chairman on Wednesday, attention is being paid to who will head the nation’s No. 2 bank under the financial group.KB Kookmin Bank president and CEO Min Byong-deok offered to resign from the post after running unsuccessfully for the chairmanship.Currently, KB Kookmin Card CEO Choi Gi-eui, KB Financial Group vice president Yoon Jong-kyu and KB Kookmin Bank vice president Kim Ok-chan are the strongest candidates for the top post, bank sources sa