A total of 80 listed companies in South Korea changed names in the first half of the year largely as part of efforts to burnish their corporate image, data showed Tuesday. Twenty-seven companies listed on the main Kospi market renamed themselves in the January-June period, with 53 firms registered with the tech-laden Kosdaq market changing names, according to the data from the Korea Securities Depository. The total number was up 45.5 percent, or 25 corporations, from the same period a year ear

SEJONG -- South Korea's exports of agricultural products shot up to set a new record in the first six months of 2021, data showed Tuesday, on the back of stronger global demand for healthier foodstuffs amid the new coronavirus pandemic. Outbound shipments of such goods in the January-June period came to $4.15 billion, up 15.4 percent from a year earlier, according to the data compiled by the Ministry of Agriculture, Food, and Rural Affairs. Exports of fresh products advanced 11.4 percent over

South Korean stocks opened higher Tuesday amid strong advances by large tech and auto caps. The benchmark Korea Composite Stock Price Index (Kospi) rose 11.06 points, or 0.34 percent, to trade at 3,304.22 in the first 15 minutes of trading. Stocks got off to a solid start on expectations of improved corporate earnings. Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance Wednesday. Market kingpin Samsung Electronics rose 0.5 percent, and LG Electro

A majority of South Korean retailers expect their business conditions to improve further in the third quarter of 2021 than three months earlier as more people get vaccinated against the new coronavirus, a poll showed Tuesday. The Korean Chamber of Commerce and Industry said its retail business survey index (RBSI) stood at 106 for the July-September period, up from 103 three months earlier. It marks the second consecutive quarter that the country's RBSI has remained above par. In the second qua

Tesla, Apple and AMC Entertainment were the most-bought foreign stocks among South Koreans in the first half of the year, data showed Monday. US electric vehicle maker Tesla drew buy orders of $9.6 billion from Korea-domiciled investors during the January-June period, topping the list of the most actively traded foreign stocks, according to data from the Korea Securities Depository. The same stocks worth $7.9 billion were sold by Korean traders over the cited period. Korean investors‘ p

South Koreans’ preference for nonfinancial assets such as real estate is still high compared to other major economies, but their investment in stocks has increased during the pandemic, data showed Monday. As of end-2019, the proportion of financial assets in the wealth of Koreans was 35.6 percent, significantly lower than those in the US (71.9 percent), Japan (62.1 percent), UK (54.8 percent) and Australia (43 percent), according to data compiled by Korea Financial Investment Association.

Fiscal chief says national interest comes first over new digital taxes

South Korean stocks rebounded Monday after a two-day slump, largely on speculations of solid corporate earnings in the second quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 11.43 points, or 0.35 percent, to close at 3,293.21 points. Trading volume was moderate at about 839 million shares worth around 14.3 trillion won ($12.6 billion), with losers outnumbering gainers 460 to 372. Foreigners bought a net 1 billion won, while ret

KDB Investment, a controlling shareholder of Daewoo Engineering & Construction have picked Jungheung Group, a local construction company, as a preferred bidder for acquiring the country‘s sixth-largest builder, the proposed seller said Monday. The announcement sets the stage for Jungheung to further negotiate with KDB Investment, which holds 210.9 million common shares, or a 50.75 percent stake, in Daewoo E&C. The Jungheung-led consortium outbid the investor group of builder DS

SD Biosensor, a manufacturer of COVID-19 test kits in South Korea, said Monday that it was ready to make its market debut on the nation’s benchmark Kospi this month with a lowered initial public offering price range, amid scrutiny from the financial regulator over an original valuation deemed excessive. The in-vitro diagnostic firm’s IPO price has been set within the range of 45,000 won to 52,000 won ($39.90-$46), having been lowered by 32 percent to 39 percent from the previous ta

South Korean banks are adopting unprecedented measures to boost cybersecurity in a bid to better compete with local fintech firms. Woori Bank said Monday it became the first lender here to adopt the security orchestration, automation and response technology, or SOAR. SOAR is an advanced set of technologies that enables organizations to automatically collect and file security data. The latest technology would help upgrade its cybersecurity platform from the previous monitoring-focused system

Shinhan Card said Monday it plans to launch private label credit card featuring South Korean boyband BTS and other celebrities later this year, exclusively for K-pop fans. In partnership with Weverse Company, a fan community platform created by Hybe, the entertainment agency behind BTS, Shinhan will launch PLCCs that offer benefits and rewards to cardholders who buy albums or concert goods via Weverse Shop. A PLCC is a credit card branded jointly by two business entities that are intended to

South Korean auto parts maker Mando Corp. said Monday it has received an "A" environmental, social and governance (ESG) rating form global index provider Morgan Stanley Capital International (MSCI) for its environmentally friendly growth value. Mando said the company is the first among South Korean auto and auto parts manufacturers to have been awarded such an ESG rating by MSCI. MSCI grants an A ESG rating to companies with a mixed or unexceptional track record of managing the most

Sales of imported vehicles in South Korea fell 4.2 percent in June from a year earlier amid the extended COVID-19 pandemic, an industry association said Monday. The number of newly registered foreign vehicles fell to 26,191 units last month from 27,350 a year ago as the prolonged pandemic weighs on consumer demand, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. The three bestselling models last month were Volkswagen's T-Roc 2.0 TDI SUV, Mercedes-Benz

South Korean stocks opened higher Monday, led by gains in tech and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.16 points, or 0.31 percent, to trade at 3,291.94 in the first 15 minutes of trading. Stocks got off to a solid start on speculations of improved corporate earnings. Tech large caps Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance this week. Concerns about the recent spread of the new coronavirus and its