South Korean stocks snapped their weeklong winning streak Friday as foreigners and institutions took a breather amid increased valuation pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.38 points, or 0.36 percent, to close at 3,131.88 points. Trading volume was moderate at about 1.8 billion shares worth some 14.6 trillion won ($13 billion), with gainers outnumbering losers 537 to 305. Foreigners sold a net 325 billion won, whi

Foreign investors remained net sellers of South Korean stocks for a fourth month in March on profit-taking and rising US long-term interest rates, central bank data showed Friday. Foreigners' stock investment funds recorded a net outflow of $2.58 billion, the second-largest monthly outflow after February's $2.86 billion, according to the data from the Bank of Korea (BOK). Offshore investors have remained net sellers of South Korean stocks since December. The central bank said foreign investor

Bond issuance in South Korea shrank in March from the previous month due mainly to a tumble in corporate debt sales, industry data showed Friday. The value of bonds sold in Asia's fourth-largest economy stood at slightly over 74 trillion won ($66.4 billion) last month, nearly 720 billion won smaller than a month earlier, according to the data from the Korea Financial Investment Association. Sales of corporate bonds declined by about 4.1 trillion won, and the issuance of currency stabilization

The state-run Korea Depository Insurance Corp. (KDIC) said Friday it sold a 2 percent stake in Woori Financial Holdings Co. as part of efforts to recoup taxpayer money injected into the company. The stake, or 14.5 million shares, was offloaded through a block sale in pre-market trading for 149.3 billion won ($134 million), the KDIC said. The stake sale comes in line with a government road map to dispose of its interest in the major financial holding company, whose flagship is Woori Bank. It a

South Korea needs to take preemptive measures to cope with escalating concerns over inflation, a senior government official said Friday. The remark by First Vice Finance Minister Lee Eog-weon comes as Asia's fourth-largest economy faces growing inflationary pressure amid signs of an economic recovery. "It is necessary to take preemptive steps to prevent inflationary pressure from constraining an economic rebound and inflicting burdens on ordinary people," Lee told a government policy

South Korean stocks opened higher Friday, tracking overnight Wall Street gains amid growing hopes for a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.25 points, or 0.1 percent, to 3,146.51 points in the first 15 minutes of trading. Overnight, the S&P 500 gained 0.42 percent to a new record closing, with the tech-heavy Nasdaq Composite adding 1.03 percent. In Seoul, market kingpin Samsung Electronics retreated 0.35 percent, and No. 2 chipmaker SK

Bitcoin prices remained unstable Thursday after falling more than 10 percent late Wednesday in a roller-coaster movement that coincided with the government’s warning and a widening price gap with overseas exchanges. The price for a bitcoin stood at about 71 million won ($63,600) as of 3 p.m. on Thursday, falling from 79 million won a day ago. The price of the largest cryptocurrency climbed sharply in recent days especially in domestic markets, showing a widening “Kimchi premium,&rd

South Korean stocks gained for a sixth consecutive session Thursday amid global economic recovery hope. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 5.85 points, or 0.19 percent, to close at 3,143.26. Trading volume was moderate at about 1.3 billion shares worth some 16.8 trillion won ($15 billion), with gainers outnumbering losers 487 to 352. Foreigners bought a net 107 billion won, while institutions sold 479 b

Oh likely to push for development of high-rise apartments in city, sparking concerns from central government 　

South Korean households spent a record-high net 83.3 trillion (74.5 billion) won in stock investment last year, central bank data showed Thursday, but their borrowing also surged to an unprecedented level, indicating where their money for investment came from. Amid the COVID-19 pandemic, local households and nonprofit agencies serving households invested a total 63.2 trillion won in Korean stocks and 20.1 trillion won in overseas shares in 2020, according to the preliminary data by the Ba

Construction businesses in the South Korean stock market are likely to benefit from an election win by Seoul Mayor Oh Se-hoon over his pledges focusing on housing redevelopment plans. “Based on plans such as expanding floor area ratio, supplying 360,000 housing units in five years and abolishing the restriction on building apartments with more than 35 floors near the Han River, reconstruction and redevelopment businesses are expected to be revived,” said Kim Dae-jun, an analyst at K

South Korea's exports are expected to expand 18.1 percent on-year in 2021 to set a fresh record high on the back of global economic recovery from the COVID-19 pandemic, a think tank said Thursday. Outbound shipments for the year are estimated at $605.3 billion, rising sharply from the previous estimate of a 10 percent gain in October last year, according to a report by Hyundai Research Institute released by the Ministry of Trade, Industry and Energy. The amount would beat the previous record o

Foreign investors have a hard time navigating South Korea’s “unique” private equity investment landscape, having to face obstacles such as family-run conglomerates’ dominance in the domestic industry, a private equity professional said in a virtual seminar on Thursday. “South Korea is very unique market,” Chue En Yaw, managing director and head of private equity funds at Temasek-owned Azalea Asset Management, told audience of the virtual seminar hosted by ca

South Korea's state pension operator reduced the number of listed firms in which it has a stake of 5 percent or more in the first quarter of the year, a financial information provider said Thursday. The National Pension Service (NPS) owned 5 percent or more of 261 listed companies as of Wednesday, down 12 firms from three months earlier, according to FnGuide. The combined market value of the NPS stakes in those corporations stood at 167.6 trillion won ($150 billion), up 4.4 percent from the en

Seoul-based Samsung Asset Management and Canadian counterpart Manulife Investment Management have signed a memorandum of understanding for the bilateral strategic alliance, Samsung Asset said Thursday. The largest asset management firm in South Korea, overseeing some 280 trillion won ($250 billion) assets in March, will team up with Manulife IM to explore opportunities in overseas alternative investing, private assets and specialized public market strategies. The partnership will also allow the