Swiss banking giant UBS said Thursday it has appointed Chang Sei-yoon, the incumbent head of the global markets division at UBS Securities Seoul, as its new country head for the group’s operations in South Korea.  “(Chang) has contributed greatly to UBS‘s growth in Korea and has a deep understanding of the Korean market and clients,” said Edmund Koh, president of UBS Asia Pacific, citing Chang’s more than 25 years of expertise in Korean financial markets. 

South Korea's trade dispute agency on Thursday held a public hearing on anti-dumping cases of flat-rolled stainless steel imported from three countries, prior to its final ruling slated in July. The move came after South Korea decided to launch an investigation against Chinese, Taiwanese and Indonesian flat-rolled stainless steel products in September last year, according to the Korea Trade Commission. South Korea's top steelmaker POSCO filed the complaint with the commission over anti-dumping

South Korea's oceans ministry said Thursday it has won a deal worth 58.7 billion won ($51.8 million) to export dried laver products to Japan. Dried laver, called "gim" in Korean, is usually roasted with sesame oil and fine salt and served as a side dish with Korean meals. Exports of dried laver products reached $600 million in 2020, up 3.6 percent on-year, amid growing popularity of Korean food in the Asian market. Of the volume, Japan accounted for the largest share of 22.2 percent.

South Korean stocks opened lower Thursday as investor sentiment turned risk-averse over the US tapering jitters that stemmed from the latest Federal Reserve minutes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.99 points, or 0.38 percent, to 3,161.06 points in the first 15 minutes of trading. The KOSPI got off to a weak start amid foreign and institutional selling. Stocks fell tracking the US stock decline that was largely caused by the Federal Reserve's minutes suggesting

South Korean institutional investors were seen betting big on the banking sector and semiconductor firms in the United States during the first quarter, filings showed Wednesday. The National Pension Service, the world’s third-largest pension fund, has amassed holdings in US financial services firms such as JPMorgan Chase, Bank of America and Wells Fargo, according to a filing submitted to the US Securities and Exchange Commission. The NPS, which bought 113,080 additional shares of JPMor

South Korean institutional investors are looking to increase their exposure to foreign alternative assets and diversify in terms of asset classes and destinations. This comes as more institutional investors here are venturing into asset classes that could stimulate post-pandemic recovery and a sustainable future, in their bid to achieve medium-risk, long-term investing through illiquid assets, according to a note to investors by KTB Investment & Securities on Wednesday. For example, the N

Amateur investors in South Korea shifting from stock to crypto in hopes of hitting jackpot

Gold prices in South Korea have continued to gain as investors seek to park their money in safer destinations amid escalating inflation concerns, while high-risk cryptocurrency Bitcoin saw its price drop, data showed Wednesday.  On Tuesday, the price for a gram of gold rose 0.56 percent from the previous session to 68,200 won ($60.50) on the local bourse, maintaining an upward trend for the fourth consecutive day, according to the Korea Exchange. The figure was the highest since it hit a

World’s 10th-largest economy still has long work hours, high poverty rate for older adults, according to report

South Korea's six major travel agencies cut some 15 percent of their workforce over the past year as travel demand has taken a massive hit from the COVID-19 pandemic, data showed Wednesday. At the end of March, six listed travel firms had a total of 4,268 employees, down 15.4 percent from a year ago, according to the data by the Financial Supervisory Service. Industry leader HanaTour shed 13 percent of its workforce, and Mode Tour cut 10.7 percent, the data showed. In the first quarter of thi

　More than half of South Koreans support taxing capital gains from the trading of cryptocurrencies, a poll showed. 　The government plans to impose taxes on gains from investment in virtual assets starting next year. 　A poll by Realmeter showed 53.7 percent of respondents back the plan while 38.3 percent are opposed. The survey, commissioned by the news channel YTN, was conducted on 500 people aged 18 or older across the country April 29. (Yonhap)

Bithumb Holdings, the operator of cryptocurrency exchange Bithumb, saw a surge in sales and net profit in the first quarter of 2021, its largest shareholder’s financial results showed on Tuesday. According to Vidente’s regulatory filings, Bithumb logged 250.2 billion won ($220 million) in sales in the first quarter this year, jumping 458 percent from the same period last year. Its net profit soared 876 percent to 222.5 billion won in net profit during the same period. The company&

Young generations behind the rise of ESG awareness in Korea, says NH-Amundi deputy CEO

South Korean stocks closed higher Tuesday, rebounding from a decline the previous session, on bargain hunting for tech and semiconductor shares. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 38.53 points, or 1.23 percent, to 3,173.05. Trading volume was moderate at 774.38 million shares worth some 13.71 trillion won ($12.07 billion), with gainers outnumbering losers 571 to 279. Foreigners sold a net 347.2 billion won, and retail in

Team Blind, the operator of anonymous social network platform Blind, has raised $37 million won in its latest funding round, picking up the pace to go public in the US stock market, the company said on Tuesday. Blind has more than 5 million users who spend an average of 40 minutes a day. In Korea, 85 percent of employees working for companies with 300 workers or more have joined the social media. In the US, the platform is often used as a venue to discuss workplace topics, such as job openi