South Korean stocks are expected to move in a relatively tight range as investors are set to digest the U.S. Federal Reserve‘s rate decision amid ongoing trade talks between Washington and Beijing, analysts here said Saturday.　The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,186.95 points on Friday, up from 2,176.11 the previous week.　The KOSPI started on strong note on hopes for headway in trade talks between the United States and China. 　The bourse, however, slipped fo

South Korean stocks ended almost flat after a choppy trading session on Friday, with foreigners scooping up tech shares, offsetting a massive selling spree by institutions, analysts said. The Korean won fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index inched up 2.07 points, or 0.09 percent, to close at 2,186.95. Trade volume was moderately light at 291 million shares worth 4.85 trillion won ($4.29 billion), with the number of losers outnumbering gainers 517 to 301.Ins

BNP Paribas SA, France‘s biggest bank, will strive hard to promote its sustainable finance in South Korea as it seeks to arrange more funds for projects that make a positive impact on the environment and society, a company executive said Friday. Sustainable finance has been a watchword for investors that integrate environmental, social and governance issues into their investment decisions. Since a UN climate deal was signed in Paris in 2015, pension funds and financial firms around the wor

Woori Bank, one of South Korea’s major commercial banks, said Friday that it has sold 2.7 percent of its stake in Woori Financial Holdings to foreign institutional investors in a block deal during off-trading hours.The bank has sold 18,346,782 shares to FIIs. As a result, Woori Financial Holdings’ stake ownership by foreign investors has increased from 27.5 percent -- as of Feb. 13, the day of its public listing -- to 30.2 percent.According to the bank, the block sale attracted high

KEB Hana Bank’s newly appointed CEO Ji Sung-kyoo on Thursday pledged to step up efforts to transform the South Korean commercial bank into a data-driven company backed by digitalization, while ramping up its global business push to widen its sources of income beyond the domestic market. 　“To become a trusted global bank, we want to go forward embracing digitalization as our left wing and globalization as our right wing,” Ji said in his inaugural press conference held at KEB Han

SEJONG -- The chances are high that the Ministry of Economy and Finance will eventually propose a motion on a supplementary budget to the National Assembly in the coming weeks, according to recent remarks from ruling party lawmakers and Cheong Wa Dae officials.Moreover, market insiders say, a bigger interest could be the scale of the extra budget and policymakers’ position against possible backlash from the public and political oppositions.In June 2017, when an earlier supplementary budget

Hours following the US Federal Reserve’s decision to leave its key interest rate unchanged, Bank of Korea Gov. Lee Ju-yeol ruled out the possibility of a policy rate cut in the near future, early Thursday.“The US’ current wait-and-see mode will help stabilize the global financial markets and has given us some room to maneuver regarding our monetary policy,” Lee told reporters at the headquarters of the nation’s central Bank in Seoul. “However, now is not the r

South Korea's financial regulator said Thursday it will offer innovative firms and small- and medium-sized enterprises (SMEs) loans worth 100 trillion won($88.5 billion) over the next three years. The massive loan package is aimed at revitalizing the nation's sluggish economy at a time when the economy faces downward risks, including weaker domestic investment and global trade disputes. In a policy report to President Moon Jae-in, Financial Services Commission Chairman Choi Jong-ku said the FSC

Shinhan Financial Group, a major banking group in South Korea, has dropped out of the internet-only bank consortium led by Viva Republica, the operator of the popular mobile money transfer app Toss. 　Viva Republica said Thursday that “Shinhan Financial has conclusively decided to not participate in the fintech firm’s consortium to establish an internet-only bank, due to differences in business direction.” According to the financial technology startup, since the two parties sign

Japanese carmakers urged to lower FCEV prices; cost of fuel, transportation cited as hurdles

Terarosa, a coffee chain based in Gangneung,a city in the province of Gangwon, on the east coast of South Korea, has secured investment from the country’s leading impact venture fund that invest in companies creating soical innovations. The joint fund set up by Crevisse Partners and Lime Asset Management called Crevisse-Lime Impact Venture Fund decided to invest in the 15-year-old coffee chain that has 14 outlets around the country, an official at Crevisse told The Investo

Mirae Asset Global Investments is seeking to further solidify its presence in the overseas financial markets by strengthening its global portfolio. The South Korea-based asset management company has made bold moves in recent years and left footprints both in advanced and developing markets. One example was its decision to acquire Global X, a US-based sponsor of exchange-traded funds, in 2018.  It also set up a joint venture with a Vietnamese state-run investment corporation and became the f

Company reels in aftermath of DSME accounting fraud scandal

Amid deepening controversy between large-sized retailers and credit card companies over card transaction fee hikes, South Korea’s chief financial regulator has taken a neutral stance, only stressing that it will press criminal charges if large companies break the law during negotiations.The Financial Services Commission on Tuesday laid out its stance on the issue that earned recent attention when Hyundai Motor’s fee discussions with local card firms led the automaker to terminate its

Hit by waves of concern prompted by last week’s deadly crash of a Boeing 737 Max 8 jet and a possible spike in oil prices, South Korean airline stocks took a dive throughout Wednesday’s trading. Asiana Airlines, the nation’s second-largest carrier by sales, closed 0.37 percent lower from the previous day, trading at 4,050 won ($3.58) per share. Budget airlines T’way and Jin Air also slipped 1.35 percent and 0.64 percent to 8,010 won and 23,450 won, respectively.  Tho