South Korean stocks opened nearly flat Wednesday, as big-cap shares rebounded from recent deep losses. The benchmark Korea Composite Stock Price Index shed 1.37 points, or 0.06 percent, to 2,487.65 in the first 15 minutes of trading. Overnight, US shares fell on renewed concerns about the banking sector instability after the First Republic Bank reported a drop in deposits in the first quarter and its stock sank nearly 50 percent. The Dow Jones Industrial Average lost 1.02 percent, while the tech

South Korean stocks ended markedly lower Tuesday, led by big-cap tech losses, as investors took to the sidelines awaiting major corporate earnings reports. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 34.48 points, or 1.37 percent, to close at 2,489.02, extending its losing streak to a fourth session. Trading volume was a bit heavy at 875.67 million shares worth 13.46 trillion won ($10.1 billion), with decliners outpacing gainers 641 to 248.

BOK expects declining growth amid weak exports

South Korea's customs agency Korea Customs Service said Tuesday that it will host an international conference in Seoul starting from Wednesday, under the theme of global cooperation and digital customs. Taking place between Wednesday to Friday, Korea Customs Week 2023 will be the first large-scale international customs conference held by the agency. The event will be attended by customs authorities from 75 countries, with 600 domestic and overseas entrepreneurs and officials, including the

South Korean stocks opened nearly flat Tuesday, following a three-day losing streak, as investors await first-quarter corporate earnings reports. The benchmark Korea Composite Stock Price Index shed 1.64 points, or 0.06 percent, to 2,521.86 in the first 15 minutes of trading. Overnight, US shares ended mixed as big tech earnings season approaches. The Dow Jones Industrial Average rose 0.2 percent, while the tech-heavy Nasdaq Composite fell 0.29 percent. This week, South Korean chip giants Samsun

South Korean stocks ended markedly lower Monday, led by big-cap tech losses, as investors took a pause ahead of the corporate earnings season and amid concerns about potential impacts of the Sino-US rivalry on business circumstances. The local currency fell to a yearly low against the US dollar. The benchmark Korea Composite Stock Price Index shed 20.90 points, or 0.82 percent, to close at 2,523.50, extending its losing streak to a third day. Trading volume was moderate at 914.5 million shares w

Japan's decision on putting Korea back on its preferred trade partner list expected to take another two months

Sportstoto Korea, the operator of the Korean sports betting game Sportstoto, said Monday that foreign residents can now sign up for the official online betting website of Sportstoto starting Thursday. Similar to horse race gambling, Sportstoto is a legal form of sports gambling in Korea in which participants receive sports promotion voting rights – commonly referred to as sports lottery tickets – to place their bets on match outcomes based on careful calculation and prediction. Betti

South Korea's whisky imports shot up nearly 80 percent in the first quarter of this year on the liquor's surging popularity among young Koreans amid the coronavirus pandemic, data showed Monday. The volume of imported whisky came to 8,443 tons in the January-March period, up 78.2 percent from a year earlier, according to the data from the Korea Customs Service. It marks the highest first-quarter tally since 2000, when data tracking began. It is also the largest quarterly figure after 8

South Korean stocks opened lower Monday, as investors took a breather ahead of corporate earnings season. The benchmark Korea Composite Stock Price Index shed 9.91 points, or 0.39 percent, to 2,534.49 in the first 15 minutes of trading. On Friday, US shares closed marginally higher amid a lack of fresh market-moving events. The Dow Jones Industrial Average added 0.07 percent, and the tech-heavy Nasdaq Composite went up 0.11 percent. This week, major companies in South Korea, including chip giant

KB seeks to improve its credit evaluation model using mobile phone user data

The total market capitalization of listed firms in Korea rose by 16.4 percent this year, an increase of more than 341 trillion won ($256 billion) from the year-end of 2022. As the stock market slowly rebounds, the combined market cap of Korea's benchmark index Kospi and secondary bourse Kosdaq swelled from 2,079.13 trillion won to 2,420.25 trillion won during the period, marking a 16.4 percent increase, or 341.11 trillion won, data from the country’s sole bourse operator Korea Exchang

Hana Financial Group opened its first Hana Momcare Center in Bundang, Gyeonggi Province, on Friday. The center, the first of its kind, comes with a nursing room equipped with child care products including a water purifier, bassinet, baby feeding chair, breast pumps and a changing table for babies. It also comes with other necessities such as baby wash, lotion, wet wipes and cleaning liquid for feeding bottles. Pregnant women and parents can use the center to care for their children when visit

South Korean stocks opened lower Friday, led by the decline in auto and battery shares following Tesla Inc.'s sharp fall on Wall Street and US data signaling a slowing economy. The benchmark Korea Composite Stock Price Index slid 12.97 points, or 0.51 percent, to 2,550.14 in the first 15 minutes of trading. Wall Street ended lower Thursday after Tesla hinted at more price cuts to come and that it intends to do so even if it hurt its margins. New claims for unemployment benefits in the Unite

South Korea's exports fell 11 percent on-year in the first 20 days of April, data showed Friday, amid the prolonged slump in the global chip industry. The country's outbound shipments stood at $32.4 billion in the April 1-20 period, compared with $36.3 billion a year earlier, according to the data from the Korea Customs Service. Imports shed 11.8 percent on-year to $36.5 billion during the cited period, resulting in a trade deficit of $4.13 billion. In March, outbound shipments fell 13