South Korean stocks ended lower Tuesday, as investors kept a wary eye on the US central bank's hawkish monetary tightening stance and China's economic slowdown amid its COVID-19 lockdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 26.34 points, or 0.98 percent, to close at 2,666.76 points. Trading volume was moderate at around 854.23 million shares worth some 9.54 trillion won ($7.72 billion), with losers outnumbering gainers 643 to

South Korean shares opened lower Tuesday as investors remain wary over the US central bank's hawkish monetary tightening stance and China's economic slowdown amid its COVID-19 lockdown. The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.6 points, or 0.36 percent, to reach 2,683.5 as of 9:15 a.m. Investors fret over potential rapid rate hikes as the US Federal Reserve repeatedly signaled at an aggressive tightening policy to counter inflation. China's continued lockdown in Shanghai ov

South Korean stocks ended lower Monday, as investors were worried about the US central bank's aggressive monetary tightening and China's growth momentum amid high inflation and the protracted COVID-19 pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 7.29 points, or 0.27 percent, to close at 2,693.10 points. Trading volume was moderate at around 730.81 million shares worth some 8.71 trillion won ($7.06 billion), with losers outnumbe

Contract manufacturing giant Samsung Biologics has raised 3.2 trillion won ($2.6 billion) through issuing new shares, allowing the company to secure capital needed for the buyout of Samsung Bioepis’ stake and construction of its fourth plant, officials said Monday. According to the firm’s regulatory filing, some 2 trillion won out of the 3.2 trillion won will be used for buying out Biogen’s stake in Samsung Bioepis and cover expenses of building its fourth manufacturing plant

　Ssangbangwool Group, a South Korean underwear company, said Friday it has submitted a letter of intent (LOI) to buy the debt-ridden automaker SsangYong Motor. 　 　Ssangbangwool‘s bid came as a deal to buy SsangYong Motor by local electric bus and truck maker Edison Motors Co. collapsed late last month after its failure to meet the deadline to make the full payment for the proposed takeover. 　 　Ssangbangwool said it has submitted the LOI for the SsangYong takeover and selected accounting f

South Korea’s financial watchdog warned potential bidders for the debt-ridden SsangYong Motor on Thursday that authorities would pay close attention to possible signs of stock manipulation along the way. The warning follows after Mirae Corp. -- a local semiconductor equipment manufacturer and affiliate of the nation’s leading underwear maker Ssangbangwool -- sold over 6.47 million of its shares in entertainment company IOK, a SBW subsidiary, for 1.24 billion won ($10.1 million) on M

South Korean shares opened higher Friday, as investors digested the US central bank's hawkish comments on monetary tightening. The benchmark Korea Composite Stock Price Index (Kospi) rose 12.84 points, or 0.48 percent, to reach 2,708.70 as of 9:15 a.m. Overnight, the US stock market mostly rebounded as investors assessed the Federal Reserve's minutes of its March meeting, which hinted at more aggressive monetary tightening than had been originally expected. Overnight, the Dow Jones Industrial Av

South Korean shares opened lower Thursday, tracking overnight falls on Wall Street, as the US central bank hinted at faster rate hikes to curb inflation. The benchmark Korea Composite Stock Price Index (Kospi) fell 18.66 points, or 0.68 percent, to reach 2,716.37 as of 9:15 a.m. Overnight, the US stock market tumbled, after the Federal Reserve's minutes of its March meeting showed that the officials are considering raising rates by a half-percentage point, rather than the usual quarter-point, an

South Korean stocks ended lower Wednesday, as the US central bank's more hawkish stance on rate hikes sparked worries about a global economic slowdown amid uncertainties surrounding Ukraine and China's growth. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 24.17 points, or 0.88 percent, to close at 2,735.03 points. Trading volume was moderate at around 1.29 billion shares worth some 10.85 trillion won (US$8.90 billion), with losers outnumbering ga

Metaverse Entertainment, a subsidiary of Netmarble F&C, has attracted 2 billion won ($1.6 million) in investment from Hyundai Motor Group’s tech fund Zer01ne, according to Netmarble on Wednesday. Netmarble F&C is a development arm of the nation’s top mobile game developer. Netmarble said the latest funding was based on the auto giant’s tech fund’s valuation of the metaverse company at 100 billion won. With the investment, Netmarble said virtual humans being

South Korean shares opened lower Wednesday, tracking overnight falls on Wall Street, as a key US Fed member hinted at more aggressive monetary tightening. The benchmark Korea Composite Stock Price Index (KOSPI) had lost 16.52 points, or 0.60 percent, to reach 2,742.68 as of 9:15 a.m. Overnight, the US stock market tumbled, after Federal Reserve Gov. Lael Brainard said the Fed would begin rapidly reducing its balance sheet in May and is preparing for "stronger" actions to bring down inf

Kakaopay Securities, the stock brokerage arm of Korea‘s mobile payment platform KakaoPay, said Tuesday it will launch a new service in June through which one can buy stocks as gifts with its payment platform that has over 37 million subscribers. “Users can give both domestic and foreign stocks to friends and family with a gift card featuring Kakao Friends characters,” said Kakaopay Securities co-CEO Lee Seung-hyo during an online press conference. Users receive the stock gift

South Korean shares opened nearly flat Tuesday despite overnight rallies on Wall Street as investors remain wary of lingering concerns over the US central bank's monetary tightening and the Ukraine crisis. The benchmark Korea Composite Stock Price Index (KOSPI) had added 0.47 point, or 0.02 percent, to reach 2,758.37 as of 9:15 a.m. Overnight, the US stock market finished higher on strong gains of tech shares. The Dow Jones Industrial Average rose 0.3 percent, and the Nasdaq composite advanced 1

South Korean fintech company Quantit said Monday it has received the best disruptive solution award at Technology Award 2021 hosted by Asian Private Banker. The firm was recognized for its robo-adviser service, dubbed RABIT, which uses artificial intelligence to offer investment strategies that reduce volatility in the high-risk cryptocurrency market. The service allows for a relatively safe investment in digital assets because it doesn’t require any transfer of assets to the robo-advis

South Korean stocks opened lower Monday as investors unloaded large-cap shares, including tech issues, amid lingering uncertainties over the Ukraine crisis and inflation. The benchmark Korea Composite Stock Price Index lost 11.51 points, or 0.42 percent, to trade at 2,728.34 points as of 9:15 a.m. Investors took to the sidelines as the ongoing crisis surrounding Ukraine has deepened concerns over soaring energy prices and inflation. Moscow said Sunday that it attacked and destroyed key energy fa