Seoul shares advanced by more than 1 percent Wednesday as investors scooped up tech stocks following a rally on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 33.41 points, or 1.21 percent, to close at 2,797.33. The closing index marks the highest since Jan. 21, 2022, when the comparable reading was 2,834.29. Trade volume was heavy at 635.72 million shares worth 13.86 trillion won ($10.03 billion), with losers outnumbering winners 53

The chief of the financial regulator on Wednesday stressed the need to change the very mindset of bank officials to prevent financial incidents such as incomplete sales. Lee Bok-hyun, head of the Financial Supervisory Service, made the remark in a meeting with the heads of 20 banks in South Korea. "To prevent financial accidents, including incomplete sales, a change in the mind and conduct of bank officials is most important," Lee told the meeting. "I ask the bank management to ac

Seoul shares opened higher Wednesday as investors scooped up tech stocks following a surge in US chipmakers. The benchmark Korea Composite Stock Price Index rose 28.31 points, or 1.02 percent, to 2,792.23 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 38,834.86, and the tech-heavy Nasdaq Composite gained 0.03 percent to 17,862.23. Nvidia Corp. surpassed Microsoft Corp. to become the world's most-valuable company for the first time. In Seo

South Korean stocks closed higher to end at an over two-year high Tuesday as foreign investors scooped up blue chips after a tech-led rally on Wall Street. The local currency advanced slightly against the US dollar. The benchmark Korea Composite Stock Price Index increased 19.82 points, or 0.72 percent, to close at 2,763.92, rebounding from a 0.52 percent drop the previous day. The closing index marks the highest since Feb. 20, 2022, when the comparable reading was 2,771.93. Trade volume was mod

South Korean stocks opened sharply higher Tuesday following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 25.01 points, or 0.91 percent, to 2,769.11 in the first 15 minutes of trading. In the United States, Wall Street's main indices finished bullish, led by tech shares. The Dow Jones Industrial Average gained 0.49 percent, and the tech-heavy Nasdaq Composite advanced 0.95 percent. In Seoul, large caps led the strong opening. Samsung Electronics added

Seoul shares ended lower Monday to snap a four-session winning streak, amid speculations over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 14.32 points, or 0.52 percent, to close at 2,744.10. Trade volume was moderate at 545 million shares worth 12.2 trillion won ($8.8 billion), with losers outnumbering gainers 522 to 359. Individuals bought a net 313 billion won wort

Establishing supply chain traceability system emerges as key to deal with complex web of international regulations

South Korea is to introduce a separate visa track for foreign nationals who aspire to become K-pop stars in a move to attract more tourists from overseas, the Finance Ministry announced Monday. The ministry released a set of measures to help bring more foreign visitors to the country such as streamlining the entry process and offering incentives for using public transportation during a meeting of economic affairs ministers. The measures were based on the concern that the country’s tourism

The finance ministry said Monday it will ease regulations on real estate investment trusts as part of efforts to help normalize the real estate project financing sector. The government will create "project REITs" after drastically lifting regulations so as to allow a greater number of small investors to join the projects and will expand REIT investment targets to health care, data centers and other promising fields, according to the Ministry of Economy and Finance. REITs are a type of

Seoul shares opened lower Monday, after a mixed close on Wall Street, as investors remain concerned over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The benchmark Korea Composite Stock Price Index fell 6.15 points, or 0.22 percent, to 2,752.27 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average fell 0.2 percent to 38,589.16 and the Nasdaq Composite rose 0.1 percent to 17,688.88. The Fed has recently pared back projections for rate cu

South Korea's exports of information and communication technology products soared more than 30 percent for the second consecutive month in May on robust global demand, data showed Sunday. Outbound shipments of ICT products came to $19.05 billion last month, up 31.8 percent from $14.45 billion a year earlier, logging the seventh straight month of increase, according to data compiled by the Ministry of Science and ICT. The country's ICT imports increased 2.4 percent on-year to $11.48 bil

Household loans extended by five major lenders in South Korea have risen more than 2.1 trillion won ($1.5 billion) so far this month, industry data showed Sunday. Outstanding household loans extended by the five top lenders reached 705.4 trillion won as of June 13, compared with 703.2 trillion won at the end of last month, according to the data compiled by Yonhap News Agency. The monthly tally is expected to grow for the third consecutive month in June, following an on-month increase of 5.2 tril

Mirae Asset Financial Group said Friday that its founder and Chairman Park Hyeon-joo will be honored with the International Executive of the Year Award at the annual conference of the Academy of International Business slated for next month. AIB, an eminent association of international business scholars and professionals established in 1959, boasts a membership of over 3,400 individuals from approximately 90 countries. Park, who has been integral in transforming Mirae Asset Financial Group into a

Mirae Asset Global Investments, Korea’s leading asset management firm, has significantly expanded its global footprint, now managing over 580 exchange-traded funds with net assets totaling 170 trillion won ($133 billion). Since launching its first exchange-traded fund, Tiger ETF in 2006, Mirae Asset has grown into a formidable player in the global market, overcoming initial industrial skepticism toward a domestic financial firm. In 2011, it became the first Korean asset manager to list on

South Korean shares closed up for the fourth consecutive session Friday amid hopes for a US rate cut that helped push US stock indexes to record highs. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index gained 3.53 points, or 0.13 percent, to close at 2,758.42. Trade volume was heavy at 633.1 million shares worth 15.7 trillion won ($11.38 billion), with losers outnumbering gainers 481 to 399. Foreign investors remained net buyers for a third con