The number of homes owned by foreign nationals came to 91,453 in December 2023, with 55 percent of them belonging to Chinese nationals, government data showed Friday. The Ministry of Land, Infrastructure and Transport released a report on foreign-owned real estate assets, which showed that 0.48 percent of all homes in the country are owned by non-South Koreans. The number of foreign-owned homes rose 4.8 percent compared to the previous report released six months ago, with 4,230 additional homes

Seoul shares opened higher Friday as the US economic growth grew at a slower-than-expected pace and poor corporate earnings revived hopes for the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 19.27 points, or 0.73 percent, to 2,654.71 in the first 15 minutes of trading. Investors are also awaiting US consumption data due later in the day, which may offer clues on the Fed's future policy path. In Seoul, most large-cap stocks advanced. Market bellwethe

Seoul shares dropped for the third consecutive session Thursday ahead of key US inflation data. The Korean won also dipped to the lowest in one month against the US dollar. The benchmark Korea Composite Stock Price Index fell 41.86 points, or 1.56 percent, to close at 2,635.44. Trade volume was moderate at 366.42 million shares worth 10.92 trillion won ($7.9 billion), with losers far outpacing gainers 680 to 197. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 point

US chip giant Nvidia has become South Korea's most-owned foreign stock, replacing Tesla in the top spot after four years. As of Thursday, South Koreans held a combined $11.07 billion worth of Nvidia stocks, according to the Korea Securities Depository's securities information portal. This figure surpassed $10.67 billion in Tesla shares. Nvidia has dethroned Tesla as the top stock pick among Korean investors for the first time since July 2020, when the world's biggest electric vehi

Seoul shares opened lower Thursday, tracking overnight losses on Wall Street, as the Federal Reserve appears to be in no rush to cut interest rates in the face of the strong economy and high inflation. The benchmark Korea Composite Stock Price Index fell 15.47 points, or 0.58 percent, to 2,661.83 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average dropped 1.06 percent to 38,441.54 points, and the tech-heavy Nasdaq composite retreated 0.58 percent to 16,920.58. The Fed

Seoul shares closed sharply lower Wednesday as investors waited for major events, including this week's US inflation data. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index plunged 45.55 points, or 1.67 percent, to close at 2,722.85. Trade volume was moderate at 431 million shares worth 12.7 trillion won ($9.36 billion), with losers far outpacing gainers 673 to 220. Foreigners dumped a net 1 trillion won, while individuals scooped up a net 1.26 t

South Korean stocks opened lower Wednesday, bucking overnight gains on Wall Street as auto and chemical shares slumped. The benchmark Korea Composite Stock Price Index fell 4.19 points, or 0.15 percent, to 2,718.66 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite closed at an all-time high by advancing 0.59 percent, while the Dow Jones Industrial Average moved down 0.55 percent. The United States is set to release April's Personal Consumption Expenditures index

The South Korean government is ramping up discussions on specific tax incentives aimed at enhancing the market value of local companies, with plans to conduct public hearings over the next two months. "We talked about tax incentives for the Value-up Program on several occasions. But now is the time for us to discuss more specific plans," Finance Minister and Deputy Prime Minister Choi Sang-mok told reporters on Monday. "Throughout June and July, we will host public hearings to del

South Korean stocks closed nearly flat after choppy trading Tuesday as investors waited for clues over the direction of the US rate decision. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index edged down 0.14 points, or 0.01 percent, to close at 2,722.85. Trade volume was moderate at 432 million shares worth 11.3 trillion won ($8.31 billion), with losers outpacing gainers 467 to 401. Foreigners bought a net 45.4 billion won worth of local shares, while

S. Korea's conglomerate heads seek to seize more opportunities in UAE's defense, construction, cultural content sectors

Business leaders of South Korea and the United Arab Emirates on Tuesday discussed ways to enhance economic cooperation and develop business partnerships in new industries, such as clean energy and ICT, a major business lobby here said. The Korea-UAE Business Investment Forum, held in Seoul during the state visit of UAE President Mohamed bin Zayed Al Nahyan, brought together around 200 government officials and business leaders, including South Korean Trade Minister Cheong In-kyo and UAE Minister

South Korean stocks opened lower Tuesday due to losses in tech shares, with investors also waiting for more hints on the future course of US key rates. The benchmark Korea Composite Stock Price Index fell 4.82 points, or 0.18 percent, to 2,718.17 in the first 15 minutes of trading. Top tech giant Samsung Electronics lost 0.26 percent, while No. 2 chipmaker SK hynix gained 0.99 percent. Leading battery maker LG Energy Solution dropped 0.96 percent, and Samsung SDI fell 1.57 percent. Naver, which

South Korean Finance Minister and Deputy Prime Minister Choi Sang-mok said Monday that he is in talks for bilateral meetings with his Japanese and Chinese counterparts following this week’s trilateral summit of the three countries in Seoul. “Upon the invitation from the Chinese government, we are discussing detailed schedules for a possible visit to China. I expect to discuss diverse issues, including supply chains,” the nation’s top policymaker said at a press conference

South Korean stocks jumped over 1 percent Monday to snap their four-day losing streak on bargain hunting amid dashed hopes for an early rate cut by the Federal Reserve. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index moved up 35.59 points, or 1.32 percent, to close at 2,722.99. Trade volume was moderate at 546 million shares worth 15.6 trillion won ($11.4 billion), with losers slightly outpacing gainers 442 to 422. Foreigners sold a net 140 billion

KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corporate value through mid- to long-term asset management, asset growth strategies and shareholder return policies, according to the announcement. The boost plan will include monitoring of th