South Korean stocks opened slightly lower Friday, apparently tracking overnight losses on Wall Street related to a brewing dispute between the United States and China. The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.58 points, or 0.13 percent, to 1,995.73 in the first 15 minutes of trading. The Dow Jones Industrial Average lost 101.78 points, or 0.41 percent, to close at 24,474.12 on Thursday (New York time). Fears of a dispute between the world's two largest economies apparen

South Korea's first-quarter exports of eight new-industry goods jumped despite a drop in overall exports due to the new coronavirus pandemic, data showed Friday. Overseas shipments of those products came to $21 billion in the January-March period, up 17 percent from a year earlier, according to the data from the Korea International Trade Association (KITA). They include next-generation semiconductors, biohealth products, electric vehicles, new-energy goods, robots, aviation products and drone

South Korean stocks opened higher Thursday on encouraging news about another COVID-19 candidate vaccine in the US. Extending gains for the fifth consecutive day, the nation’s main bourse Kospi crossed the 2,000-point mark in early morning trading for the first time since March 6 as it rose 13.65 points, or 0.68 percent, to 2,003.20. It closed at 1998.31, up 0.44 percent. Retail investors drove the index as they bought stocks worth some 204.9 billion won ($166.5 million) while instituti

A consortium composed of D&D Investment and NH Investment & Securities has completed its acquisition of Young City office complex from UK-based investment house Actis for 550 billion won ($447.2 million), the deal manager Cushman & Wakefield Korea said Thursday. D&D Investment, an affiliate of SK conglomerate’s real estate development arm SK D&D, seeks to establish a real estate investment trust called Young City REITs by securitizing the properties. The deal allowe

South Korean stocks closed higher Thursday to extend their winning streak to a fifth session, the longest period of this year, on growing hope over the resumption of global business activities. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 8.67 points, or 0.44 percent, to close at 1,998.31. Trading volume was moderate at some 588 million shares, worth about 8.5 trillion won ($6.92 billion), with gainers outnumbering losers 463 to 3

South Korea’s construction equipment maker Doosan Bobcat is under credit pressure as its US subsidiary Clark Equipment is looking to leverage $300 million via five-year senior secured notes in May, filings showed Thursday. Clark Equipment’s leveraging plan is adding a financial burden to Doosan Bobcat, as affiliates and subsidiaries of conglomerate Doosan Group‘s liquidity crunch might spill over to Doosan Bobcat that is already suffering a sharp fall in sales due to the ongo

The state-run Export-Import Bank of Korea said Thursday it has issued a three-year Australian dollar-denominated bonds worth AU$700 million ($460 million) to investors. Following the deal, Eximbank said it has become the first Asian financial institution to sell Kangaroo bonds, or Australian dollar-denominated bonds issued by a non-Australian entity, since the coronavirus outbreak. The bonds were oversubscribed as Eximbank received AU$1.7 billion subscriptions from 57 investors. JPMorgan, Mits

SEJONG -- South Korea plans to comprehensively examine its rules on foreign exchange trading as it seeks to ensure dollar liquidity amid lingering uncertainties in global markets over the coronavirus pandemic, Vice Finance Minister Kim Yong-beom said Thursday. Measures to help banks inject more dollars into local markets, including an eased rule on the foreign exchange liquidity coverage ratio (LCR), will be put into place for the time being, Kim said during a meeting with senior officials fr

South Korea’s producer price index, which serves as a yardstick for inflation, slipped 0.7 percent on-month in April, extending its decline for the third consecutive month, data from the central bank showed Thursday. The index, which reflects how domestic producers receive price changes regarding their outputs, came to 102.08 last month, which fell from the corresponding and revised figure of 102.82 in March. The figure slipped 1.5 percent on-year. The Bank of Korea said that the index

While the global market dwindled and corporate assets depreciated amid the COVID-19 pandemic, the limited range and number of companies and assets with growth momentum have gained popularity from investors across borders. In order to keep the balance between economic revitalization and protection of “strategic business assets,” policymakers should raise the threshold for aspiring foreign investors here, according to a state-affiliated think tank. “The preliminary screening pr

SEJONG -- South Korea's household income rose in the first quarter from a year earlier, but the income gap between the haves and have-nots widened, as the employment situation of the low-income bracket worsened amid the coronavirus pandemic, a report showed Thursday. The average household earned 5.35 million won ($4,357) per month in the first quarter, up 3.7 percent from the previous year, according to the report by Statistics Korea. Household income earned through wages rose 1.8 percent on

South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street apparently backed by hopes of an economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 13.15 points, or 0.66 percent, to 2,002.79 in the first 15 minutes of trading. The Dow Jones Industrial Average surged 369.04 points, or 1.52 percent, to close at 24,575.90 on Wednesday (US time). Hopes of a quick economic recovery sparked the stock market rally with virus-related restrictions

South Korea’s public pension fund National Pension Service on Wednesday has affirmed its plan to shrink its exposure to domestic stocks in a move to ward off uncertainties due to fallout from the coronavirus outbreak, Welfare Minister Park Neung-hoo told reporters Wednesday. “(NPS) is certainly lowering the allocation of Korean stocks from the mid- to long-term perspective,” said Park, who also heads NPS Investment Management Committee. He added NPS Investment Management Comm

Government to run fund for virus-hit industries, set up a W10tr SPV to stabilize bond market

Hana Financial Group, South Korea’s third-largest banking group will launch a digital insurance unit next month through its newly acquired subsidiary, The-K NON-Life Insurance, according to industry sources Wednesday. Branded as Hana General Insurance, the group’s new affiliate, previously a general insurance firm focusing on auto insurance, will serve as a digital insurance company starting June 1 under the leadership of Kwon Tae-gyun, former vice president of Hana Capital.