South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.51 points, or 0.25 percent, to 2,632.85 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite grew 0.94 percent, and the Dow Jones Industrial Average rose 0.8 percent, on a technical rebound. In Seoul, top cap Samsung Electronics added 0.31 percent, and No. 2 chipmaker SK hynix increased 1.92 percent. Leading chemical firm L

President Yoon Suk-yeol on Tuesday named Bang Moon-kyu, CEO of the state-run Export-Import Bank of Korea, to be in charge of government policy coordination, and former prosecutor Lee Bok-hyun to lead Korea’s market watchdog, the Financial Supervisory Service. The president also appointed Kim Joo-hyun, chairman of the Credit Finance Association as chairman of the Financial Services Commission, a top financial policymaking unit, and Kang Seog-hoon, former presidential secretary for economi

Seoul shares nosedived by over 1.5 percent Tuesday amid concerns about fast-growing inflation pressure that may strengthen monetary tightening in the United States and other major economies. The Korean won steeply fell against the US dollar. The benchmark Korea Composite Stock Price Index 44.31 points, or 1.66 percent, to close at 2,626.34 points. Trading volume was moderate at about 517 million shares worth some 8.8 trillion won ($7 billion), with losers outnumbering gainers 730 to 163. Institu

Seoul shares opened steeply lower Tuesday on concerns about fast-growing inflation pressure that may strengthen central banks' policy tightening. The Korea Composite Stock Price Index (KOSPI) fell 21.14 points, or 0.79 percent, to 2,649.51 points in the first 15 minutes of trading. The local bourse was closed Monday for a national holiday. Volatility increased in the local financial markets on high-flying inflation. Most large caps traded lower in Seoul. Market bellwether Samsung Electronic

Major foreign investment banks have revised down their targets and ratings on South Korea’s benchmark Kospi, which has been coping with market volatilities stemming from growing inflationary pressure and the prolonged Russia-Ukraine War. Japan-based Nomura Securities lowered its investment rating on the Korean market from “overweight” to “neutral” last week, suggesting investors to hold and not buy shares. Nomura cited the recent slowdown in the expansion of the

KB Financial Group Chairman Yoon Jong-kyoo and the UK Department for Business, Energy & Industrial Strategy’s Deputy Minister Garry Grimstone discussed partnership in achieving net-zero carbon emissions and green investment, the South Korean bank said Friday. In the meeting held Friday, Grimstone called for KB’s active cooperation with UK businesses in investment of renewable energy, according to the firm. He noted the growing importance of renewable energy in achieving the join

South Korean stocks rebounded Friday from the previous session's sharp fall, amid eased inflation concerns after the group of major oil exporting countries announced a plan to increase the crude supply and the US job market showed weaker-than-expected growth. The local currency rose sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) closed up 11.66 points, or 0.44 percent, to 2,670.65. Trading volume was moderate at 552.2 million shares worth 7.45 trillion won (US$

KB Financial Group said Friday it had produced and launched a video highlighting the impact of the declining bee population on the environment for the upcoming World Environment Day. The video titled “Warning of the Bees” portrays how climate change and excessive exposure to pesticides threaten the existence of bees, as well as the alarming consequences for humanity. It also paints the stories of people contributing to the effort to revive the bee population. The video is part o

South Korean stocks opened higher Friday, tracking the overnight US rally partly fueled by the Organization of the Petroleum Exporting Countries' decision to increase the oil supply that helped ease inflation concerns. The Korea Composite Stock Price Index (KOSPI) rose 17.09 points, or 0.64 percent, to 2,676.08 in the first 15 minutes of trading. The OPEC Plus decided Thursday (local time) to add 648,000 barrels per day to the market next month, raising the size from the 432,000 barrels per

South Korean stocks retreated Thursday, snapping a three-day gaining streak, as worries about the world economy possibly going into a recession continued to weigh on investor sentiment. The local currency fell sharply against the US dollar. The Korea Composite Stock Price Index (KOSPI) fell 26.91 points to close at 2,658.99. Trading volume was light at 513.1 million shares worth 7.6 trillion won ($6.06 billion), with decliners outnumbering gainers 520 to 322. Institutional investors unloaded a n

Brokerages join forces to end Korea Exchange’s decades of monopoly

South Korean stocks got off to a weak start Thursday, as worries about the world economy, possibly set for a recession, continued to weigh on investor sentiment. The Korea Composite Stock Price Index (KOSPI) fell 23.52 points, or 0.88 percent, to 2,662.38 in the first 15 minutes of trading. Overnight, Wall Street ended lower amid woes over the potential economic impact of the US Federal Reserve's planned tighter monetary policy. In Seoul, most shares lost ground across the board. Market bel

South Korean stocks closed higher for a third consecutive day Tuesday as foreigners scooped up local equities amid eased concerns over a global recession and China's economic slowdown, analysts said. The local currency inched up against the US dollar. The Korea Composite Stock Price Index (KOSPI) gained 16.24 points, or 0.61 percent, to close at 2,685.90. Trading volume was moderate at 649.8 million shares worth 13.64 trillion won ($11 billion) with gainers outpacing decliners 544 to 291. &

South Korean stocks opened slightly lower Tuesday, as worries over a possible recession induced by the US Federal Reserve's pledge to hike rates continued to overshadow the markets despite optimism from China's easing of COVID-19 lockdowns. The Korea Composite Stock Price Index lost 1.33 points, or 0.05 percent, to 2,668.33 in the first 15 minutes of a choppy trading. Large-cap stocks lost ground across the board, with market heavyweight Samsung Electronics dipping more than 1 percent.

Seoul shares ended higher for second straight session Monday as investors scooped up large-cap stocks on bargain hunting following gains on Wall Street and hopes for economic recovery in China. The South Korean won rose to the highest in over one month to the US dollar. The Korea Composite Stock Price Index (KOSPI) rose 31.61 points, or 1.2 percent, to close at 2,669.66. Trading volume was moderate at 458.66 million shares worth 7.32 trillion won ($5.9 billion), with gainers outpacing decliners