South Korean stocks trimmed earlier gains to end flat due to reduced foreign buying and poor-performing Chinese stocks. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 2.71 points, or 0.13 percent, to 2,047.76.The main index fell after marking a 1.61 percent increase for the whole of last week. On Friday, it closed at 2,050.47 points, hitting fresh yearly highs.Kim Ye-eun, an analyst at LIG Investment & Securities, said the local stocks fel

Following failed attempts at physical operations abroad, Korean banks are trying again to expand overseas, this time by focusing on tech-savvy consumers. They have ditched their Korean names and brick-and-mortar branches in foreign countries, targeting young consumers instead with mobile banking services.  Woori Bank officials and local staff attend a ceremony to launch “WiBee Bank” to offer online loan applications and currency exchange services in Cambodia in September. (Woori Bank)Shinhan Ban

Foreign ownership of South Korean stocks grew about 10 percent from a year earlier, the country’s stock market operator announced Tuesday. According to the Korea Exchange, foreign investors, as of Aug. 10, owned a total of 464.1 trillion won ($424 billion) of shares listed on the benchmark securities trading index Kospi and techy-heavy Kosdaq. Their holdings accounted for 30.6 percent of total market capitalization.Compared to the end of 2015, the market capitalization held by foreign investors

South Korean shares opened higher Tuesday, tracking gains on Wall Street, helped by positive U.S. economic data and a rebound in global oil prices.The benchmark Korea Composite Stock Price Index rose 9.12 points, or 0.44 percent, to 2,059.59 in the first 15 minutes of trading.The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Friday, it closed at 2,050.47 points, hitting fresh yearly highs.Investors will closely watch the minutes of the Federal

South Korea’s national budget for next year is expected to exceed 400 trillion won ($362 billion) for the first time, as the government plans to spend more to generate jobs as well as tackle the low birthrate and rapidly aging population. As the government and the ruling Saenuri party have recently agreed to raise the 2017 budget by 3 to 4 percent, the annual budget is likely be around 398 trillion won to 402 trillion won next year, according to government officials.This year, the government’s o

Big Bang, Psy, 2NE1, iKON, Akdong Musician -- these are just a few of the performing artists under YG Entertainment run by Yang Hyun-seok, an influential producer of K-pop and a former member of Korea’s first hip-hop group Seo Taeji and the Boys. Established in 1998, YG Entertainment went public on the KOSDAQ in 2011. In the same year, the company created the joint venture YGEX with AVEX, one of the biggest entertainment businesses in Japan.The company’s market value is traded at 34,150 won ($30

Samsung Securities, the brokerage firm of Samsung Group, said that it listed three types of Samsung India Nifty50 Futures Exchange-Traded Notes on the stock market earlier this month to make it easy for customers to invest in India. Introduced on Aug. 4, the financial derivatives are Korea’s first ETN investment in the Indian market, the securities house said.  A model promotes Samsung India Nifty50 Futures Exchange-Traded Notes. (Samsung Securities)According to the brokerage, customers can set

South Korean stocks edged up on Friday, backed by a rebound in oil prices and bullish sentiment in U.S. stock markets, extending their winning streak for the seventh consecutive session and hitting fresh yearly highs. The Korean won fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 1.67 points, or 0.08 percent, to close at 2,050.47. Trade volume was moderate at 372 million shares worth 4.53 trillion won ($4.1 billion), with gainers outnumbering losers 519 to 284.A

South Korean shares traded lower late Friday morning, retreating from fresh yearly highs a day ago, after China's latest data showed its factory production and investment slowed. The benchmark Korea Composite Stock Price Index shed 2.15 points, or 0.1 percent, to 2,046.65 as of 11:20 a.m.China, South Korea's No. 1 export destination, reported that its July factory output rose six percent on year, missing analysts' expectation. After starting slightly higher, the KOSPI stock index swung between g