Seoul stocks closed more than 1 percent higher Wednesday on tech gains, as investors were hopeful that the US Federal Reserve could ease the pace of rate increases. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 33.31 points, or 1.39 percent, to 2.428.57. Trading volume was moderate at 539.8 million shares worth 6.57 trillion won ($5.4 billion), with gainers outnumbering decliners 526 to 325. Institutional and foreign investors were net buyers

A tough road ahead for the seasoned investor as global economy contracts and resistance persists against the pension fund's enforcement of shareholder rights

Mirae Asset Global Investments has gobbled up nearly half of target-date fund market share, recording 3.5 trillion won ($2.84 billion) under management as of the end of 2022. TDF refers to an investment scheme where a portfolio’s asset allocation mix automatically rebalances throughout an account holder’s lifecycle to make it less prone to volatility as the target date draws near. Analysts attributed Mirae Asset's top position to the group's chairman, Park Hyun-joo, who has

Private equity funds Unison Capital Korea and MBK Partners have joined hands to take over Osstem Implant, the nation’s largest dental manufacturer, according to the companies on Wednesday. Osstem Implant announced that UCK and MBK Partners will go for a tender offer through special purpose company Dentistry Investment, buying off a sizeable stake in the company for the next month at 190,000 won ($154) per share, up almost 17 percent from 162,500 won from the previous trading day. UCK is a

Seoul stocks got off to a strong start Wednesday as investors bet the US Federal Reserve will go easy on its aggressive monetary tightening. The benchmark Korea Composite Stock Price Index added 28.09 points, or 1.17 percent, to 2423.35 in the first 15 minutes of trading. Major indexes on Wall Street closed mixed overnight, while chipmakers, such as AMD and Qualcomm, sharply rose on hope for better business performance down the road. Investors are also keeping a close watch on the Fed's nex

The Seoul city government will additionally consider raising its subway and city bus fares by 400 won ($0.32), besides its earlier 300-won hike proposal, city officials said Wednesday. The municipal government plans to hold a public hearing next month with the goal of raising public transportation fares in April after a freeze for eight years. It will prepare two fare hike proposals -- 300 won or 400 won -- to listen to the opinions of various public hearing participants, including experts, city

South Korea's exports fell 2.7 percent on-year in the first 20 days of January, data showed Saturday, due mainly to weak semiconductor shipments. The country's outbound shipments stood at US$33.6 billion in the Jan. 1-20 period, compared with $34.5 billion a year earlier, according to the data from the Korea Customs Service. Imports rose 9.3 percent on-year to $43.8 billion during the cited period, resulting in a trade deficit of $10.2 billion. Outbound shipments of chips, a mainstay e

The Korean government will make a fresh attempt to get its sovereign bond to be included in the top grade of global market indices, the country’s top economic policymaker told global investors Friday. Finance Minister Choo Kyung-ho revamped local financial rules to adhere to “global standards” so that Asia’s fourth-largest economy could attract more foreign investors. “Starting this year, we will reform the Korean capital market in a way that is foreign investor-f

South Korean stocks opened marginally higher Friday as gains in tech blue-chips offset concerns over a recession overshadowing the US markets. The benchmark Korea Composite Stock Price Index rose 5.23 points, or 0.22 percent, to 2,385.57 in the first 15 minutes of trading. The local stock market opened higher, bucking a decline on Wall Street amid uncertainty over the direction of the Federal Reserve for interest rate hikes in the coming months. In Seoul, market bellwether Samsung Electronics ga

South Korean stocks snapped the two-day losing streak to close higher Thursday as foreigners went into buying mode despite worries over a recession reignited by weak US economic data, analysts said. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 12.02 points, or 0.51 percent, to close at 2,380.34. Trading volume was moderate at 364 million shares worth 5.36 trillion won ($4.34 billion) with gainers outnumbering decliners 473 to 362. "

KB Financial Group on Thursday announced that it has made the Global 100 Most Sustainable Corporations in the World list in recognition of its environmental, social, and corporate governance (ESG) efforts. It was ranked 68th on the list by Canada-based global research firm Corporate Knights. “Making the top 100 global sustainable companies list is the result of all executives and employees putting their minds into practicing ESG management for a sustainable future,” a KB Financial Gr

Marking 20th year of global business, investment firm outpaces crosstown rivals in overseas profits

South Korean stocks got off to a weak start Thursday, as the latest US economic data reignited fears of a recession. The benchmark Korea Composite Stock Price Index lost 2.89 points, or 0.12 percent, to 2,365.43 in the first 15 minutes of trading. US retail sales and wholesale prices fell more than expected in December, according to its government data released Wednesday Production at factories also slid more than expected, sending major US stock indexes sharply lower. Market sentiment was hurt

South Korean stocks closed lower for the second straight day Wednesday, as investors were cautious to make risky bets ahead of the earnings season set to kick off next week. The local currency inched up against the US dollar. The benchmark Korea Composite Stock Price Index lost 11.07 points, or 0.47 percent, to 2,368.32. Trading volume was moderate at 528.3 million shares worth 5.43 trillion won ($4.38 billion) with decliners outpacing gainers 548 to 296. "Anticipation over the fourth-quart

South Korean stocks opened lower Wednesday, as concerns over corporate earnings, set to be released starting next week, weighed on investor sentiment. The benchmark Korea Composite Stock Price Index lost 15.37 points, or 0.65 percent, to trade at 2,364.02 in the first 15 minutes of trading. Companies are expected to announce their fourth-quarter earnings results beginning next week, with the market consensus leaning toward lackluster performances in some sectors. Tech heavyweights and financial