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S.M. Entertainment aims to lead contactless era with Disney-like IP
National Museum of Korea reopens with extended schedule for largest-ever sh...
Fresh, bizarre world of Netflix’s ‘School Nurse Files’
Korean firms say global value chain restructuring is inevitable: survey
NK tells South not to enter its waters, says it is searching for dead offic...
Korea Investment sells First Sentier’s infra fund
Kia reports 3 additional virus cases at local plant
Seoul city to begin renovation project on Gwanghwamun Square next month
Hyundai Motor taps into China with new cars, smarter technologies
Parliamentary speaker embarks on trip to Sweden, Germany

Today Money

Korea Investment sells First Sentier’s infra fund

Korea Investment & Securities, a Seoul-based brokerage house, said Sunday that it has started selling a new product to indirectly invest in equities of global companies dedicated to infrastructure projects in developed countries. The new product is a feeder fund of the Global Listed Infrastructure Fund by Sydney-based First Sentier Investors. Local investment firm Kiwoom Asset Management is an underlying manager of the structured investment product. The product for South Korean end-inves

Kia reports 3 additional virus cases at local plant

Kia Motors Corp. said Sunday three assembly line workers at one of its domestic plants tested positive for the new coronavirus, and a decision on whether to suspend the plant's operations will be made soon. "The plant is not in operation as it is Sunday. The company will make a decision on whether to (temporarily) halt the Sohari plant in Gwangmyeong tomorrow," a company spokesman said over the phone. Kia, the country's second-biggest carmaker, halted the operations of the Sohari pla

Today
Economy
KB Financial to halt financing of coal-fired power plants

KB Financial Group said Sunday it has decided to halt financing construction of coal-fired power plants and to expand investment in infrastructure projects aimed at improving and conserving environment. As part of its corporate roadmap to combat global climate change, the South Korean financial giant will no longer participate in financing of new thermal power plant construction in and out of the country, and instead, increase investment in new eco-related investment opportunities, such as gr

Today
Money
US trade panel supports LG Chem in battery case with SK Innovation

The US International Trade Commission (ITC) has voiced support for LG Chem Ltd.'s call for sanctions on its rival SK Innovation Co. in connection with a legal dispute over battery patents, LG Chem said Sunday. In response to LG Chem's request for the issuance of an order sanctioning SK Innovation, the investigative staff of the US International Trade Commission (ITC) has supported LG Chem ahead of a crucial verdict over their electric vehicle (EV) battery patent case next month. In the

Today
Economy
KRX to offer English translation service for Kospi firms’ disclosures

South Korea’s sole bourse operator is slated to translate daily disclosures of 54 companies listed on the Kospi market in English starting Monday, according to officials Sunday. As of end-August, foreign investors were holding 35.3 percents of stock ownership of Kospi-listed companies. The number of disclosures translated in English, however, was just 697, or 5.9 percent of total number of disclosures published in Korean. To provide more information on Korean companies to foreign inves

Today
Markets
Eximbank, IFC team up to finance developing countries post-COVID-19

The Export and Import Bank of Korea and International Finance Corp. have agreed to expand their collaboration in developing countries and to link Korean firms with more opportunities overseas, the financial institutions said Sunday. The two signed a new memorandum of understanding on Friday to focus on creating new jobs, promoting smart cities and boosting health care, among other measures to identify and finance projects in countries largely in Southeast and Central Asia. The collaboration wi

Today
Money
S. Korea’s consumer sentiment sees sharp drop in Sept. amid stricter social distancing rules

South Korea’s composite consumer index shed the most points in six months in September, feeling the impact of stricter social distancing rules following the COVID-19 resurgence, central bank data showed Friday. The index dropped 8.8 points on-month to 79.4 in September, which also marked the sharpest dip in six months and the first decline since April, according to data released by the Bank of Korea. A reading below 100 means pessimists outnumber optimists. The September reading broke th

Sept 25, 2020
Economy
Seoul stocks close higher on hopes for new US economic stimulus

South Korean shares closed higher Friday, as investor sentiment was improved by hopes for a new stimulus package for the US economy. The Korean won rose against the US dollar. After trading in a choppy session, the benchmark Korea Composite Stock Price Index (KOSPI) rose 6.09 points, or 0.27 percent, to close at 2,278.79. Trading volume was moderate at about 687 million shares worth some 9.9 trillion won ($8.4 billion), with gainers outnumbering losers 530 to 318. Foreigners sold a net 90 bil

Sept 25, 2020
Markets
Copyright, design right violators to face up to threefold damage compensation: KIPO

South Korea will impose punitive statutory damages of up to three times upon breaches of trademark righs and design rights, starting in April 2021, in continued efforts to enhance knowledge-based intangible assets, the country’s intellectual property office said Friday. The revision bills of the Trademark Act, Design Protection Act and the Unfair Competition Prevention and Trade Secret Protection Act have been approved by the National Assembly, the Korean Intellectual Property Office s

Sept 25, 2020
Markets
Lotte Insurance denies rumors of self-delisting plan

Lotte Insurance said Friday that it would not consider delisting itself from the country’s main bourse Kospi, refuting rumors by some local media reports. Followed by the nation’s sole bourse operator’s call for explanation on the delisting rumors, the insurance firm made its official announcement via DART -- the Financial Supervisory Service’s electronic disclosure board. “This is to confirm that we are not considering to be delisted from the local market,&rdquo

Sept 25, 2020
Markets
S. Korea to spend 94b won this year to develop homegrown COVID-19 vaccine

South Korea will spend a total of 94 billion won ($80.3 million) this year to help local firms develop homegrown vaccines and treatment drugs to fight the coronavirus pandemic, officials said Friday. The government also plans to set aside 260.4 billion won next year to develop vaccines and treatment drugs against the new coronavirus, officials said. The plan came after senior officials held a pan-government meeting with executives from pharmaceutical and biotechnology firms earlier in the day.

Sept 25, 2020
Economy
S. Korea's trade terms rise for 5th straight month in Aug.

South Korea's terms of trade rose for the fifth straight month in August, as import prices fell at a faster pace than export prices, central bank data showed Friday. The country's net terms-of-trade index for goods -- a gauge of trade terms -- came in at 96.75 in August, up 6.7 percent from a year earlier, according to preliminary data from the Bank of Korea (BOK). It marked the fifth straight month of an on-year rise since April, when the trade terms posted the first on-year gain in over two

Sept 25, 2020
Economy
Imported commercial car sales up 2.3% in August

Sales of imported commercial vehicles in South Korea rose 2.3 percent last month from a year earlier on robust sales of Mercedes-Benz trucks, an industry association said Friday. The number of newly registered imported commercial vehicles rose to 318 units in August from 311 a year ago, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. "Increased sales of Mercedes-Benz and Scania trucks helped the monthly results," a KAIDA official said. &

Sept 25, 2020
Economy
Coronavirus sends S. Korea's consumer spending indoors plunging: expert

The coronavirus pandemic has resulted in a plunge in South Korean consumers' spending at department stores, cinemas and other large indoor facilities, an expert said Friday. In contrast, consumer spending at outdoor and small facilities, including neighborhood grocery stores and camping sites, has gone up, said Lee Jae-ho, head of the Digital Economy Institute of Kakao Mobility. "The COVID-19 outbreak has caused the frequency of visits to duty-free shops and department stores and large di

Sept 25, 2020
Economy
Seoul stocks open higher on US tech rebound

South Korean shares opened higher Friday, tracking overnight gains on Wall Street helped by a US tech rebound. The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.68 points, or 0.56 percent, to 2,285.38 in the first 15 minutes of trading. The index got off to a strong start after a 2.59 percent plunge the previous session. Stocks lifted despite uncertainties from the US presidential election in November, thanks to a rebound in tech heavyweights, such as Apple and Microsoft

Sept 25, 2020
Markets

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