Tough conditions mean high interest rates advertised for savings accounts are often a mirage

Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, as investors expect the upcoming US consumer price index may provide signs of a slowdown in inflation. The benchmark Korea Composite Stock Price Index rose 15.24 points, or 0.65 percent, to 2,366.55 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average moved up 0.6 percent to 33,704.1 points and the tech-heavy Nasdaq Composite climbed 1 percent to 10,742.63. If Thursday's US inflation da

Seoul shares ended higher Tuesday, extending their winning streak to a fifth day despite concerns over the Federal Reserve's aggressive rate hikes following hawkish Fed officials' comments. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.12 points, or 0.05 percent, to close at 2,351.31 points. Trading volume was moderate at 351.76 million shares worth some 6.6 trillion won ($5.3 billion), with gainers outnumbering losers 441 to 398. Fe

Activist fund declares proxy fight against 7 local lenders, calls for them to raise dividend ratio to some 50%

Seoul shares opened higher Tuesday as investors remain concerned about the Federal Reserve's aggressive rate hike plans following its officials' recent comments. The benchmark Korea Composite Stock Price Index rose 3.18 points, or 0.14 percent, to 2,353.37 in the first 15 minutes of trading. Fed officials signaled the US central bank could raise rates to somewhere over 5 percent to tame inflation. Foreigners and institutions bought a combined 28 billion won ($22.5 million) worth of sto

Seoul shares ended higher Monday amid expectations of slower US rate hikes. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 60.22 points, or 2.63 percent, to close at 2,350.19 points. Trading volume was moderate at about 334.74 million shares worth some 6.9 trillion won ($5.2 billion), with gainers outnumbering losers 799 to 93. The Dow Jones Industrial Average rose 2.1 percent to 33,630.61 points on Friday, and the tech-heavy Nasdaq Compos

Monetary Policy Committee to meet on interest rate Friday

Seoul stocks opened higher Monday, tracking gains on Wall Street, as investors expect a slowdown in US wage growth and contraction in the services sector may prod the Federal Reserve to go easy on its aggressive rate hike plans. The benchmark Korea Composite Stock Price Index rose 41.01 points, or 1.8 percent, to 2,330.98 in the first 40 minutes of trading. Most large-cap stocks advanced across the board. Market bellwether Samsung Electronics Co. rose 1.9 percent, No. 2 chipmaker SK hynix Inc. c

Once regarded among South Korea's most successful startups, Kurly, operator of fresh food delivery platform Market Kurly, is losing steam with signs of weakening investor appetite for the loss-making firm. Kurly on Thursday officially called off its long-awaited market debut on the country's benchmark Kospi "for the time being." "Considering the worsened investor sentiment amid the global recession, we have decided to postpone the listing on the Korea Exchange," the

Seoul stocks closed over 1 percent higher Friday, continuing a three-day winning streak, as foreign and institutional investors picked up Samsung Electronics and other large caps. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index jumped 25.32 points, or 1.12 percent, to close at 2,289.97 points. Trading volume was moderate at about 388.2 million shares worth some 6.6 trillion won ($5.2 billion). Winners outnumbered losers 602 to 262. The Kospi got off to

Seoul stocks opened a tad higher Friday despite overnight falls on Wall Street and fresh US job data. The benchmark Korea Composite Stock Price Index traded up 0.72 points, or 0.03 percent, to 2,265.37 points in the first 15 minutes of trading. Major indices on Wall Street fell over 1 percent overnight amid concerns that the country's strong labor market data released Thursday could push the Federal Reserve to continue to raise interest rates. The S&P 500 dropped 1.16 percent, the Dow J

Seoul stocks closed higher for the second straight session on Thursday, driven by advances in chips and financial stocks. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 8.67 points, or 0.38 percent, to close at 2,264.65 points. Trading volume was moderate at about 416.6 million shares worth some 7.4 trillion won ($5.8 billion). Winners outnumbered losers 501 to 374. "The Kospi rose in the morning trading, boosted by advances in chips and fina

Seoul stocks surged over 1.5 percent to snap a four-day losing streak Wednesday as foreigners snatched up shares of Samsung Electronics and other chipmakers. The benchmark Korea Composite Stock Price Index jumped 37.3 points, or 1.68 percent, to close at 2,255.98 points. The Korean won fell against the US dollar. Trading volume was moderate at about 405.6 million shares worth some 6.4 trillion won ($5 billion). Gainers outnumbered losers 651 to 224. The Kospi got off to a weak start but soon tur

Authorities plan to formulate new regulatory rules for volatile cryptocurrency industry

Sales of imported vehicles in South Korea rose 24 percent last month from a year earlier despite the extended chip shortage, an industry association said Wednesday. The number of newly registered foreign vehicles stood at 29,640 units last month, up from 23,904 units a year ago, the Korea Automobile Importers & Distributors Association said in a statement. The three bestselling models last month were Mercedes-Benz's E 250 sedan and E 350 4MATIC sedan, and BMW's 520 sedan, the state