The number of stock trading accounts in South Korea has risen sharply over the past year to surpass the 40 million mark amid a buying craze by retail investors, industry data showed. 　Active stock accounts in Asia‘s fourth-largest economy numbered 40.07 million as of March 19, up from 35.48 million at the end of last year. 　It marks the first time that the country’s number of active stock accounts has exceeded the 40-million level. 　The number has increased by approximately 1

South Korean stocks opened nearly flat Monday amid concerns over rising new coronavirus cases around the world. The benchmark Korea Composite Stock Price Index fell 0.69 points, or 0.02 percent, to 3,040.32 points in the first 15 minutes of trading amid foreign and institutional selling. Investor concerns grew as US COVID-19 cases moved back up, with the third wave of the virus spreading in Europe. New COVID-19 infections topped 126 million over the weekend around the world, with the death tol

South Korea's exports are expected to rise 18.3 percent in March from a year earlier to extend the gains for the fifth consecutive month, led by strong demand for chips and automobiles, a poll showed Monday. Outbound shipments are expected to reach $54.6 billion this month, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. The survey was conducted on eight brokerage houses. Imports are estimated to rise 17.8 percent over the period to reach $49.2 billion wo

CEO says growth stocks in next-generation energy, green, AI still attractive

South Korea's corporate direct financing jumped 29 percent in February from the previous month due to a modest rise in bond sales, data showed Monday. Local companies raised a combined 19.9 trillion won (US$17.6 billion) by selling stocks and bonds last month, up 4.4 trillion won from a month ago, according to the data from the Financial Supervisory Service (FSS). Corporate stock sales plunged 64.2 percent on-month to 684.6 billion won, with the value of initial public offerings dipping 43.9 p

Real estate development schemes have taken center stage in the ongoing Seoul mayoral race, with candidates churning out a series of plans to woo voters angry about the central government’s strict regulations that have failed to curb soaring housing prices in the capital. Oh Se-hoon of the main opposition People Power Party said last week that he would lift restructuring and redevelopment regulations within a week if he is elected as Seoul mayor. He also pledged to supply 360,000 housing u

More South Koreans are becoming inclined to stock investing as they seek to take advantage of a turnaround from the COVID-19 financial market crisis, a survey showed Sunday. Of 1,000 respondents aged between 19 and 59, 67.8 percent said they were interested in investing via stocks, according to a survey conducted in February by Seoul-based market research firm Macromill Embrain Trend Monitor. Among them, 52.7 percent said they had begun to take an interest in stock investing since January 2020

Mirae Asset Global Investments, an asset management arm of investment banking group Mirae Asset, reaped a record annual profit for 2020 as its efforts to diversify its product pipeline and beef up its global profile paid off. The latest filing by the second-largest asset management firm in South Korea, overseeing 112.1 trillion won ($99 billion) in assets as of end-2020, showed that its net profit throughout last year came to 256.4 billion won, up 66.2 percent from a year prior. The figure m

Lenders’ overseas expansion strategy in question as Myanmar’s economic development backtracks over turmoil

South Korea's antitrust regulator said Sunday it has decided to fine five manufacturers of windows a combined 1.28 billion won ($1.13 million) for exaggerated advertising. LG Hausys and its four rivals ran advertisements that misled consumers to believe that installing their products can sharply reduce energy costs, according to the Korea Fair Trade Commission (KFTC). The companies did not specify in ads that such results on energy efficiency could be generated in a strictly controlled environ

South Korea‘s public pension fund, the National Pension Service, delayed a decision on whether or not to increase the proportion of domestic stock holdings, amid mounting criticism over the fund’s selling streak. NPS investment Management, the fund’s highest decision-making body, held a meeting Friday to discuss the matter, but failed to reach an agreement on whether or not to raise the proportion of strategic asset distribution limit from the current 2 percentage points to 3

South Korea’s major banking groups expressed a willingness to review various ways to increase their dividend payouts -- including interim dividends – amid government restrictions that have placed a cap on earnings distribution, in shareholders meetings held through Friday. In an apparent bid to quell shareholders’ growing complaints over the firms’ decision to heed the Financial Supervisory Service’s earlier “recommendation” to keep their dividend payo

YG Entertainment founder Yang Hyun-suk’s grip on the firm has weakened after China’s ticket booking platform divested itself from the K-pop powerhouse this month. Shanghai Fengying Business Consultant Partnership has unloaded all of its 953,947 shares in YG Entertainment, dissolving a special relation status with Yang, a former CEO of the firm, a regulatory filing showed on Friday. The report showed that the combined stake owned by Yang and seven other related parties fell to 25.

South Korean stocks advanced more than 1 percent Friday, as vaccine distribution spurred expectations of an economic rebound amid stable oil prices. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 32.68 points, or 1.09 percent, to close at 3,041.01 points. Trading volume was moderate at about 1 billion shares worth some 15.4 trillion won ($13.6 billion), with gainers outnumbering losers 544 to 291. Foreigners bought a net 296 billion won

Home transactions in South Korea sank nearly 25 percent in February amid government measures to rein in rising prices, data showed Friday. The number of homes changing hands nationwide stood at 87,021 last month, down 24.5 percent from a year earlier, according to the data from the Ministry of Land, Infrastructure and Transport. The February reading was also down 4 percent from the previous month. The number of home transactions in the Seoul metropolitan area, which includes the western port