Fame won’t last long for A-listers in Korea, but investment in commercial real estate can bring long-term wealth

South Korean stocks advanced for the second straight session Friday despite the steep hike in the US price gauge, as investors believed the price pressure is still short of triggering talks of tapering by the Federal Reserve. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) increased 24.68 points, or 0.77 percent, to close at 3,249.32 points. Trading volume was moderate at about 1.6 billion shares worth some 17.6 trillion won ($15.8 billion), w

Bank of Korea Gov. Lee Ju-yeol said Friday that a key interest rate hike is plausible by the end of this year in step with economic recovery. “If our economy is expected to stage a modest recovery, (the BOK) will normalize the current easing of monetary policy in an orderly way at an appropriate time,” Lee said in a statement to mark the 71st anniversary of the BOK’s foundation. Earlier in April, the BOK froze its key interest rate at a record low of 0.5 percent amid concer

US-based investment house First Eagle Investment Management and its mutual fund have cashed in a combined 35 billion won ($31.5 million) during a weeklong trade since late May from its investment in event-driven Namyang Dairy stock in South Korea, filings showed Friday. Shares of Namyang Dairy Products, hit a price ceiling immediately after an announcement on May 27 that local private equity firm Hahn & Co. will buy a controlling 52.6 percent stake in the firm from the owner family, includ

South Korea's exports jumped 40.9 percent on-year in the first 10 days of June on the back of robust shipments of chips and autos, customs data showed Friday. The country's outbound shipments stood at $17.3 billion in the June 1-10 period, compared with $12.3 billion a year earlier, according to the data from the Korea Customs Service. Imports rose 31 percent on-year to $17.9 billion, resulting in a trade deficit of $612 million during the cited period, the data showed. By sector, outbound sh

South Korea retail investors have traded more than $1.7 billion worth of shares in AMC Entertainment Holdings Inc., one of the social media-driven meme stocks, this month, data showed Friday. Local individual investors' transactions of shares in the top US movie theater chain came to $1.76 billion in the first eight trading sessions of this month, according to the data from the Korea Securities Depository. AMC Entertainment became the most-bought overseas stock by South Korean retail investors

South Korea will prepare for an "orderly" exit from the pandemic-era monetary easing policy if an economic recovery remains solid, the head of the Bank of Korea (BOK) said Friday. It was the second time in a month that BOK Gov. Lee Ju-yeol hinted at the normalization of monetary policy amid market concerns about the US Federal Reserve's tapering. "If our economy is expected to continue its solid pace of recovery, we will orderly normalize the current easing of monetary policy

South Korea's export prices rose in May, marking the sixth straight monthly gain amid a robust recovery in exports, central bank data showed Friday. The country's export price index, in terms of the local currency, rose 1.5 percent in May from the previous month, according to the preliminary data from the Bank of Korea (BOK). The reading marked the sixth consecutive month of an on-month rise. In April, the index rose 2.2 percent on-month. From a year earlier, the index jumped 12.3 percent,

South Korean stocks opened higher Friday despite the steep hike in the US price gauge, as investors expect the price pressure is still short of starting Federal Reserve discussions to pull back its accommodative policies. The benchmark Korea Composite Stock Price Index (Kospi) rose 24.91 points, or 0.77 percent, to reach 3,249.55 points in the first 15 minutes of trading. The Kospi got off to a strong start on overnight Wall Street tech gains, as investors shrug off signs of high price pressur

Unlike for COVID-19, there is no vaccine for climate change. However, there is a treatment to prevent further damage -- a circular economy that focuses on sharing, reusing and extending the life span of products rather than making mere profit, futurist Gerd Leonhard said in a keynote speech at H.eco Forum held Thursday. “We are going to have more money but there won’t be any planet to spend it on. You can’t do business on the broken planet,” he said, showing global ca

South Korean social startup Dot has been picked as the sole supplier of Braille tablet PCs for visually impaired students in the US, the company said Thursday. Through the exclusive contract with the US Department of Education, the Seoul-based startup will provide 30 billion won ($26.9 million) worth of Braille smart tablets, called Dot Pads, to the US schools for four years starting in 2022. The digital devices enable teachers and students to depict shapes, charts and graphs in Braille whil

Delivery platform operator Barogo has secured 80 billion won ($71.7 million) through its series C funding round, the company said Thursday. The amount of the newly raised funds surpassed the firm’s initial target of 50 billion won, showing the increasing interest of investors in the booming delivery businesses. E-commerce firm 11st and retail conglomerate CJ Group have joined the funding round as strategic investors. 11st invested 25 billion won in the latest scheme, while CJ Group&rs

An official green light given to the insurance unit of Kakao Pay and three peer-to-peer companies will pave the way for the country’s innovation in finance, industry experts said Thursday.  The Financial Services Commission has given a preliminary approval of Kakao Pay’s insurance subsidiary as an online-only insurance firm, the regulator announced on Thursday. Kakao Pay will become the country’s first digital-only general insurance company. A digital-focused insurance

South Korean stocks rebounded Thursday on the quadruple expiration day of options and futures, buoyed by strong advances in tech stocks and massive foreign buying. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.46 points, or 0.26 percent, to close at 3,224.64 points. Trading volume was high at about 1.9 billion shares worth some 18.8 trillion won ($16.8 billion), with losers outnumbering gainers 426 to 418. Foreigners scooped a net 71

South Korea’s NH Financial Group said Thursday it has created an environmental, social and governance fund worth 150 billion won ($134 million) to finance projects tied to the Green New Deal initiative. According to NH, the “NH-Amundi Green New Deal Infra ESG Fund” will offer an alternative investment portfolio that focuses on exposure to both up-and-coming and less risky assets. Investments on hydrogen, fuel cell-related projects alongside solar and wind energies will be inc