KB's exclusive banking branch lures superwealthy parents who want a smooth transition of assets to their children

From virtual humans to web dramas, brokerage firms embrace new tech to attract young investors

Seoul stocks retreated nearly 2 percent Friday amid expectations of further rate hikes in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index retreated 43.04 points, or 1.83 percent, to close at 2,313.69 points. Trading volume was moderate at about 360 million shares worth some 5.9 trillion won ($4.6 billion), with losers outnumbering gainers 796 to 98. Institutions bought a net 251 billion won, while foreigners sold 73 billion won and re

The Bank of Korea put forward price stability as its major commitment for next year, hinting on further hikes of its key rate to fight ongoing inflation. The central bank released a report on its monetary policy for next year on Friday, suggesting forecasts on the economic outlooks in and out Korea. The bank said it will focus on price stability next year, so that consumer inflation will move towards the target level, currently set at 2 percent. “Although consumer inflation is expected to

Seoul stocks opened sharply lower Friday, tracking overnight falls on Wall Street amid expectations of further rate hikes in the United States. The benchmark Korea Composite Stock Price Index fell 33.22 points, or 1.41 percent, to 2,323.51 points as of 9:15 a.m. Strong US economic data, including estimate-beating growth and consumption, added to the prospects that the US Federal Reserve may continue to raise interest rates next year in an effort to rein in high inflation. Overnight, the Dow Jone

NongHyup Financial Group announced their affiliate CEO candidates, including NongHyup Bank, Thursday. The candidates were selected through a recommendation committee meeting held earlier in the day. The group has tapped Lee Seok-yong, a senior official in charge of planning and coordination at the National Agricultural Cooperative Federation, as NongHyup Bank CEO. NongHyup Bank is an affiliate of the National Agricultural Cooperative Federation. Lee joined the company in 1991 and has since been

Seoul shares finished sharply higher on Thursday, despite concerns over a looming global recession. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.78 points, or 1.19 percent, to close at 2,356.73, ending its losing streak of the past five sessions. Trading volume was moderate at 415.98 million shares worth 5.96 trillion won ($4.67 billion), with gainers outstripping decliners 655 to 210. Foreigners and individuals sold a net 570 billion won wor

Seoul shares opened higher Thursday, tracking Wall Street gains overnight, amid persistent worries about a global recession. The benchmark Korea Composite Stock Price Index rose 9.51 points, or 0.41 percent, to 2,338.46 in the first 15 minutes of trading. US stocks rallied overnight, boosted by strong earnings from some major companies and positive consumer confidence data. The Dow Jones Industrial Average jumped 1.6 percent, the S&P 500 rose 1.49 percent and the tech-heavy Nasdaq Composite

The government has drawn up new growth strategies to secure future technology such as aerospace and artificial intelligence and to accelerate digital transformation to help its sluggish economy leap forward. Through the "New Growth 4.0 Strategy" unveiled by economy-related ministries on Wednesday, the country seeks to secure forward-looking technology, digital transformation and further expanding the country's prowess in chips and display panels to gain a competitive advantage o

Finance Ministry unveils growth outlook of 1.6%, lower than BOK, KDI estimates

An average wage earner in South Korea would have to save up one’s entire income for 14 years to buy a home in Seoul, a government study showed Wednesday. The price-to-income ratio -- the median home price divided by the median annual household income -- for Seoul in 2021 jumped to 14.1 from 12.5 in the year before, according to the 2021 Korea Housing Survey released by the Ministry of Land, Infrastructure and Transport. The figure was higher than that of any other region in the country, wi

Seoul shares opened higher Wednesday amid concerns over a global recession after the US Federal Reserve vowed to continue its monetary tightening to tame inflation. The benchmark Korea Composite Stock Price Index rose 6.35 points, or 0.27 percent, to 2,339.64 in the first 15 minutes of trading. Institutions and individuals bought a combined 53 billion won ($41 million) worth of stocks, exceeding foreign selling valued at 51 billion won. Fed officials last week indicated plans to raise the rate t

South Korea's exports slipped 8.8 percent on-year in the first 20 days of December, data showed Wednesday, due mainly to weak shipments of chips and mobile devices. The country's outbound shipments stood at $33.6 billion in the Dec. 1-20 period, compared with $36.8 billion a year earlier, according to the data from the Korea Customs Service. Imports moved up 1.9 percent on-year to $40 billion during the cited period, resulting in a trade deficit of $6.4 billion. Outbound shipments of c

South Korean stocks ended lower Tuesday dragged down by investor concerns over a global recession and the Japanese central bank's yield curve policy change that heralds a possible monetary tightening. The Korean won sharply strengthened against the US dollar. The benchmark Korea Composite Stock Price Index fell 18.88 points, or 0.80 percent, to close at 2,333.29, extending its losing streak to a fourth session. Trading volume was moderate at 353.63 million shares worth 5.2 trillion won ($4.

This year's inflation rate projected to be highest since 1997 financial crisis