South Korean stocks fell to a fresh 19-month low Tuesday to extend their losing streak to a sixth day as investors were wary of a larger-than-expected interest rate hike in the US and a global economic recession. The local currency continued to slide against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 11.54 points, or 0.46 percent, to close at 2,492.97 after falling to as low as 2,457.39 at one point. Trading volume was moderate at 661.21 million shares worth 9.80 trillion

Seoul shares got off to a weak start Tuesday, tracking a sharp plunge on Wall Street, on concerns over more aggressive monetary tightening by the United States to tame inflation and its impact on global economic growth. The Korea Composite Stock Price Index (KOSPI) fell 22.72 points, or 0.91 percent, to 2,481.79 points in the first 15 minutes of trading. On Monday, the index dipped to a 19-month low amid growing woes over sharper-than-expected rate hikes Overnight, US shares plunged ahead of the

South Korea’s benchmark Kospi closed at 2,504.51 Monday, its lowest level since Nov. 13, 2020 when it fell to 2,493.87, as investors priced in a big US rate hike amid a record annual increase in US consumer prices in May. A month earlier, US consumer prices surged 8.6 percent on-year, the largest gain since 1981 on record-high gasoline prices and soaring food costs, fueling bets on a sharper rate hike than the half percentage point raise the US Fed had indicated. The Fed’s two-

South Korean stocks crashed to a 19-month low Monday as high inflation sparked fears of a potential aggressive monetary tightening in the US and a slowdown in global economic growth. The local currency fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 91.36 points, or 3.52 percent, to close at 2,504.51, extending losses for the fifth consecutive session. It is the lowest figure since November 13, 2020, when the KOSPI closed at 2,493,97 points. Trading volume

S. Korean designer of KPOP ETF ready for July debut in US hopes to manage at least W1tr

Seoul shares opened sharply lower Monday, as the higher-than-expected inflation in the United States renewed concerns over more aggressive monetary tightening and a global economic slowdown. The Korea Composite Stock Price Index (KOSPI) fell 57.04 points, or 2.2 percent, to 2,538.83 points in the first 15 minutes of trading. On Friday, US shares tumbled after the US' consumer price index for May rose 8.6 percent, the highest level in 40 years. The Dow Jones Industrial Average retreated 2.73

Kakao Pay employees who own shares in their own company each lost an average 20 million won ($15,600) due to the mobile payment firm’s stock price plunge since January, reports said Sunday. The company’s employee stock ownership association purchased a total 3.4 million shares in Kakao Pay at the price of 90,000 won per share prior to its initial public offering on Nov. 3 last year, according to a regulatory filing. Documents show that some 800 employees received an average 4,005

South Korea’s tech giant Kakao and financial giant Shinhan are set to launch online- and mobile-only insurers by next month to attract millennial and Generation Z customers with affordable and simple products. Kakao’s mobile payment arm, Kakao Pay, is slated to launch its first general insurance unit called Kakao Pay Insurance in July, adding competition to the online-only insurance market here currently dominated by three existing insurers – Kyobo Life Planet, Hana Insurance

KB Financial Group Chairman Yoon Jong-kyoo and Tomas Anker Christensen, Denmark’s ambassador for climate change, discussed the role of the financial sector in achieving carbon neutrality, officials said Friday. In the meeting held Thursday, Yoon explained KB’s efforts in promoting awareness of a low-carbon economy and shifting the group’s strategy in line with carbon neutrality. KB is currently pursuing its net-zero goals with a strategy called “KB Net Zero S.T.A.R,&rdq

Seoul shares opened steeply lower Friday, taking a cue from an overnight US stock plunge amid concerns about inflation and a slowdown in the global economy. The Korea Composite Stock Price Index (KOSPI) fell 27.48 points, or 1.05 percent, to 2,597.96 points in the first 15 minutes of trading. Investors are bracing themselves for the release of US inflation data later on Friday (US time). The tech-heavy Nasdaq composite retreated 2.75 percent and the Dow Jones Industrial Average declined 1.94 per

Seoul shares fell for a third straight session Thursday, largely as investors took to the sidelines ahead of the release of US inflation data later this week and amid woes over an economic slowdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 0.71 points, or 0.03 percent, to close at 2,625.44 points. Trading volume was moderate at about 806 million shares worth some 10.6 trillion won (US$8.4 billion), with gainers outnumbering lose

Seoul shares opened lower Thursday as investors took to the sidelines ahead of the release of US inflation data later this week and amid woes over an economic slowdown. The Korea Composite Stock Price Index (KOSPI) fell 12.57 points, or 0.48 percent, to 2,613.58 points in the first 15 minutes of trading. Stocks came off to a weak start, taking a cue from overnight Wall Street losses. The tech-heavy Nasdaq composite retreated 0.73 percent and the Dow Jones Industrial Average declined 0.81 percent

Once a blue chip, now an IT behemoth, Kakao now entangled in series of predicaments; questions raised on losing momentum for growth

South Korean stocks finished nearly unchanged Wednesday, weighed by concerns about inflation and an economic recession. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.19 points, or 0.01 percent, to close at 2,626.15 points. Trading volume was moderate at about 561 million shares worth some 7.4 trillion won ($5.9 billion), with losers outnumbering gainers 481 to 360. Institutions sold a net 75 billion won, and foreigners offloaded 103

President Yoon Suk-yeol’s nominations to lead the nation’s top financial regulators have been met with skepticism, as critics say there have been too many prosecutors named already. Yoon, who has appointed several former prosecutors as Cabinet members, appointed an ex-prosecutor to lead the Financial Supervisory Services on Tuesday. Another former prosecutor had been mentioned as a candidate to head the Fair Trade Commission the same day. But the president’s office tweaked th