South Korea's exports of automobiles shot up nearly 17 percent in the January-March period from a year earlier, data showed Tuesday, on the back of rising demand for premium automobiles, including SUVs and eco-friendly cars. Outbound shipments of automobiles reached 555,430 units in the first quarter, compared with 475,165 units posted a year earlier, according to the Ministry of Trade, Industry and Energy. In terms of value, exports also jumped 31.5 percent to US$11.9 billion. Exports in Mar

The issuance of asset-backed securities (ABS) in South Korea plunged 39.7 percent in the first quarter due to a sharp decline in sales of government-led mortgage funds, data showed Tuesday. The value of ABS issues stood at 13.7 trillion won ($12.1 billion) in the quarter, down 9 trillion won from a year ago, according to the data from the Financial Supervisory Service (FSS). ABS are structured with mortgages, auto loans, credit-card receivables and student loans as underlying assets. The plun

South Korean stocks opened higher Tuesday as investors pin their hopes on a fast global economic rebound ahead of the earnings season. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.6 point, or 0.56 percent, to 3,153.19 points in the first 15 minutes of trading. Stocks got off to a strong start despite increased valuation pressure as brokerages projected strong quarterly performances by local big-name companies. Investors are also relieved by the US Federal Reserve chairman'

South Korea’s tech-heavy Kosdaq ended at a two-decade high on Monday, surpassing a 1,000-point threshold on rallies of secondary battery and bio shares. The secondary index ended trading at 1,000.65 points, up 11.26 points or 1.14 percent, from the previous session’s close. Both foreign and institutional investors purchased a net 36.2 billion won ($32.17 million) and 100 million won, respectively, while retail investors dumped 19.5 billion-won worth of shares. Among the top 10 l

Jipyong managing partner calls ESG a blue ocean market for legal professionals

The election of Seoul’s new mayor has left the central government’s housing policies in limbo, as the administration is expected to face pushback from the conservative bloc that is campaigning to ease real estate regulations. The political realignment following the results of the by-election last week has sparked concerns over possible policy shifts for the property market. The government and ruling Democratic Party of Korea are expected to hold talks to revise real estate policies

South Korean stocks inched up on Monday, as investors took to the sidelines amid increased valuation pressure and uncertainties from the Sino-American political friction. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 3.71 points, or 0.12 percent, to close at 3,135.59. Trading volume was moderate at about 1 billion shares worth around 13.1 trillion won ($11.6 billion), with gainers outnumbering losers 493 to 350. F

Macquarie Investment Management Korea has been rebranded as Feynman Asset Management upon an acquisition deal proposed by a South Korean private equity firm, the company said Monday. The asset management company, which oversees some 1.3 trillion won ($1.2 billion) worth of assets, has named Kim Eun-soo to lead the company. Kim is the former head of the Korean unit of Hong Kong-based Mason Group Holdings. Feynman Invest, a fledgling private equity firm, gained regulatory approval from the Fin

Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a fourth consecutive month, but some market experts have a positive outlook on their return. “Foreigners’ net purchase has lately occurred to Kospi since the index is still relatively undervalued (compared to other key indexes) amid growing recovery hopes for global economy and business profits,” Daishin Securities analyst Lee Kyung-min wrote in a report Monday. Accord

Banks in South Korea are expected to tighten their lending to households and big companies in the second quarter of this year, as credit risks will remain high amid the pandemic, a central bank poll showed Monday. The Bank of Korea's index measuring the banks' attitude toward fresh loans came to minus 2 for the second quarter. The lower the reading, the more likely banks will tighten their restrictions on lending. A reading below zero means that the number of lenders that will restrict lending

South Korea's stock market value grew nearly 4 percent in the first quarter of the year on increased share prices of chemical firms, builders, transportation companies and game makers, a corporate tracker said Monday. The combined market capitalization of 2,385 listed companies in Asia's fourth-largest economy came to 2,411 trillion ($2.15 trillion) as of end-March, up 3.6 percent, or 84 trillion won, from the start of the year, according to CXO Institute. Of the total listed companies, 60 per

Fine dust emissions from coal plants more than halved over the past four-month period compared with two years earlier, data showed Monday, after the country limited their operations during the winter. Local coal plants generated 3,191 tons of fine dust from December last year to March 2021, sharply down from 6,549 tons posted in the same period two years earlier, according to the Ministry of Trade, Industry and Energy. South Korea started regulating the operation of coal power plants in late 2

South Korean stocks were little changed Monday amid lingering concerns over virus outbreaks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.24 point, or 0.01 percent, to 3,132.12 points in the first 15 minutes of trading. Stocks came to a muted start after the KOSPI snapped its six-day gaining steak the previous session as valuation pressure increased ahead of the earnings report season. Over the weekend, South Korea's daily new coronavirus cases stayed in the 600s for the thi

South Korea's exports rose 24.8 percent on-year in the first 10 days of April as shipments of chips and autos remained robust amid an economic recovery from the pandemic, customs data showed Monday. The country's outbound shipments stood at US$15 billion in the April 1-10 period, compared with $12 billion a year earlier, according to the data from the Korea Customs Service. Imports increased 14.8 percent on-year to $16.7 billion, resulting in a trade deficit of $1.7 billion during the cited pe

South Korea's tax burden ratio remained unchanged in 2019 from a year earlier and was lower than that for other major economies, a report showed Monday. The country's tax-to-gross domestic product (GDP) ratio came to 20.1 percent in 2019, unchanged from the prior year, according to the report from the Korea Institute of Public Finance. South Korea's figure was 4.8 percentage points lower than the average for the members of the Paris-based Organization for Economic Cooperation and Development (