South Korean shares opened slightly higher Friday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 4.72 points, or 0.17 percent, to 2,759.61 in the first 15 minutes of trading. The Kospi has finished higher for three consecutive sessions, tracking US stock indexes that climbed to record highs amid a slowdown in inflation. The Nasdaq and S&P 500 again reached new highs Thursday, helped by renewed hopes for the start of US rate cuts within the year

The Bank of Korea looks increasingly likely to push back the start of its interest rate-cutting cycle as late as October as the country enters the last mile in its inflation fight while the US dials back its rate cut forecasts, experts said Thursday. The country’s recent data showing signs of weakening inflation, coupled with a rebound in exports, has increased anticipation for rate cuts by the Bank of Korea. The borrowing rates were kept at 3.5 percent for the 11th consecutive session i

South Korean stocks finished nearly 1 percent higher Thursday, extending their winning streak to a third session on tech gains. The local currency slightly rose against the US greenback. The benchmark Korea Composite Stock Price Index surged 26.72 points, or 0.98 percent, to 2,754.89. Trade volume was heavy at 690 million shares worth 18.9 trillion won ($13.72 billion), with losers outnumbering gainers 461 to 398. The index had opened sharply higher, tracking overnight gains on Wall Street led b

Shinhan Bank announced Thursday that it participated in the "Korea-Kazakhstan Business Forum" in Astana, hosted jointly by the governments of both countries the previous day. As the sole commercial bank in the Korean delegation, Shinhan Bank signed two significant agreements during the forum. One was signed with the European Bank for Reconstruction and Development to enhance partnerships and financial support in Kazakhstan, while the other agreement involved cooperation with CU Centr

South Korea's ban on the short selling of stocks is set to be extended until March next year. The projected deadline was discussed during a government-parliament meeting between the country's top financial regulators and the ruling People Power Party on Thursday to discuss the enhancement of short selling regulations. "We have proposed extending the short selling ban until March 2025, after the development of the computerized monitoring system," said lawmaker Jeong Jeom-sig,

Finance Minister Choi Sang-mok on Thursday called for beefing up an "external safety net" to better respond to uncertainties regarding interest rates in the United States and other nations. Choi made the remarks during an emergency macroeconomic meeting meant to assess the Federal Reserve's rate-setting meeting Wednesday, where it kept the benchmark interest rate at between 5.25-5.5 percent for a seventh straight time. The Fed also signaled fewer rate cuts than previously estimate

South Korean shares opened over 1 percent higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index surged 37.26 points, or 1.37 percent, to 2,765.43 in the first 15 minutes of trading. The bullish start follows overnight gains on Wall Street where the advances of tech shares, led by Apple, pushed the Nasdaq to a new high for the third consecutive session. The Dow Jones Industrial Average slipped 0.09 percent to 37,712.21, but the Nasdaq jumped 1.5

South Korean shares closed higher Wednesday led by gains in tech shares tracking advances on Wall Street, ahead of the Federal Reserve's rate decision. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 22.85 points, or 0.84 percent, to close at 2,728.17. Trade volume was moderate at 499.4 million shares worth 11.5 trillion won ($8.35 billion), with gainers outnumbering losers 502 to 372. Foreign investors net purchased 234.4 billio

Bill rekindles debate over shareholder protection vs. managerial autonomy

South Korean stocks opened higher Wednesday, tracking overnight gains by US big tech shares. The benchmark Korea Composite Stock Price Index added 9.05 points, or 0.33 percent, to 2,714.37 in the first 15 minutes of trading. The US stock market closed mixed overnight as investors remained cautious about the conclusion of the Federal Open Market Committee meeting, set to end Wednesday. The Dow Jones Industrial Average retreated 0.31 percent to close at 38,747.42, but the tech-heavy Nasdaq advance

The chief of the state-run Korea Development Bank on Tuesday unveiled plans to provide 100 trillion won ($72.5 billion) in policy funds for the development of high-tech industries while continuing efforts to push for the relocation of headquarters to Busan. KDB Chairman Kang Seog-hoon made the announcement during his second-anniversary press conference held at the bank's headquarters in Yeouido, Seoul, and called for swift legal revisions to implement the plans. "We are currently prepa

The number of enterprises founded by those aged 60 and above marked a record-high number in the first quarter this year, government data showed Tuesday, despite the overall number of new businesses continuing to decline. According to Statistics Korea, a total of 276,000 new companies were founded in the first quarter, excluding those related to real estate. Of those, 38,000 were founded by people aged 60 and older, marking the highest figure ever. It was also the first time ever that new enter

South Korean shares closed slightly higher Tuesday ahead of the Federal Reserve's rate-setting meeting this week. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 4.15 points, or 0.15 percent, to close at 2,705.32. Trade volume was moderate at 550 million shares worth 11.6 trillion won ($8.4 billion), with losers outnumbering gainers 510 to 349. The index had opened higher, tracking overnight gains on Wall Street. After choppy tra

KB Kookmin Card on Monday celebrated the 30th anniversary of its Indonesian subsidiary, KB Finansia Multi Finance, in the capital city Jakarta. Established in 1994, KB FMF is a credit finance corporation that primarily offers mortgages for used cars and motorcycles, as well as installment financing for durable goods. KB Kookmin Card acquired shares of KB FMF in July 2020, integrating it as a subsidiary. KB Kookmin Card CEO Lee Chang-kwon attended the event and encouraged local employees, present

South Korean stocks opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a US Fed meeting. The benchmark Korea Composite Stock Price Index added 9.99 points, or 0.37 percent, to 2,711.16 in the first 15 minutes of trading. The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the US Federal Open Market Committee meeting slated for Tuesday and Wednesday. The Dow Jones Industrial Average added 0.18 percent to close at 38,868.0