South Korean equity and bond funds have disappointed investors in the first three months of the year, with many seeing noticeable losses in profitability, data showed Sunday. Equity funds with over 1 billion won ($819,000) in assets saw an average 7.89 percent loss in profitability since the beginning of the year as of Sunday, data provided by local financial market FnGuide showed. Korean index funds, which closely tracks local stock market indexes saw an 8.59 percent profitability loss in the

Kyobo Life Insurance, Korea’s third-largest insurance company by assets, said Friday that a private equity firm-led consortium is threatening to derail its efforts to go public. The consortium is compelling the insurance company to honor an options contract that Kyobo says could undermine its CEO, the largest shareholder. The consortium -- led by equity firm Affinity Equity Partners -- signed a put option agreement with Kyobo Life Insurance CEO Shin Chang-jae in 2012.

Timely resolution unlikely as SsangYong creditor KDB caught in relocation push

South Korean stocks opened lower Friday amid still ongoing tensions surrounding Ukraine and rising inflation risks. The benchmark Korea Composite Stock Price Index fell 21.6 points, or 0.78 percent, to trade at 2,736.05 points as of 9:15 a.m. Stocks dropped as Russia's attack on the Ukrainian city of Mariupol fueled pessimism about the two country's peace talks. Most large caps traded lower in Seoul. Market bellwether Samsung Electronics lost 0.72 percent, and No. 2 chipmaker SK hynix declined 0

South Korean shares extended their winning streak to a third session Thursday amid the geopolitical uncertainties in Ukraine. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.91 points, or 0.4 percent, to close at 2,757.65 points. Trading volume was moderate at about 1 billion shares worth some 9.6 trillion won ($7.9 billion), with gainers outnumbering losers 607 to 240. Institutions bought a net 191 billion won, while foreigners sold 17

South Korean shares opened higher Thursday, buoyed by financial and tech advances, despite overnight falls on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) had increased 9.89 points, or 0.36 percent, to trade at 2,756.63 points of 9:15 a.m. Most large caps traded higher in Seoul. KOSPI's top cap Samsung Electronics traded flat, and battery giant LG Energy Solution grew 0.45 percent. Financial heavyweight KB Financial Group increased 1.17 percent, and mobile messenger opera

Citibank Korea Inc., the Korean unit of US banking giant Citigroup, said Wednesday it spent a total of 1.2 trillion won ($991 billion) on its voluntary retirement programs last year. Early-retiring employees were paid in advance the salaries that they would have earned until the legal retirement day, with an upper limit of 700 million won, the bank said. According to its regulatory filing, the bank registered a net loss of 796 billion won in 2021, compared with a net profit of 187.8 billion

South Korean shares closed a tad higher Wednesday, as investors focused on the recent round of Ukraine-Russia peace talks that ended earlier in the day. The Korean won steeply rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 5.67 points, or 0.21 percent, to close at 2,746.74 points. Trading volume was moderate at about 825 million shares worth some 10.9 trillion won ($9 billion), with losers outnumbering gainers 432 to 416. Institutions bought a net 160 billio

South Korean shares opened higher Wednesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index had increased 13.99 points, or 0.51 percent, to reach 2,755.06 as of 9:17 a.m. Overnight, the tech-heavy Nasdaq climbed 1.84 percent and the Dow Jones Industrial Average advanced 0.97 percent, as investors pulled hopes of easing geopolitical tensions amid the Ukraine-Russia peace talks. In Seoul, market bellwether Samsung Electronics went up 0.28 percent, and No.

The Korea Exchange said Tuesday that it had decided to postpone its decision on whether to allow Osstem Implant to resume trading, after hours of deliberation that failed to reach consensus on the fate of the company, which had reported insider theft amounting to 221 billion won ($181 million). The largest dental implant maker in the Asia-Pacific region, which used to trade on the tech-heavy Kosdaq board, reported the theft on Jan. 3 and the KRX suspended trading that day.  A month l

Retail sales in South Korea rose 4.7 percent in February from a year earlier on the back of growing online consumption amid the worst COVID-19 wave, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers reached 12.19 trillion won ($9.99 billion) last month, up from 11.6 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. The increased retail sales are mainly attributable to the growth in online consu

South Korean shares got off to a strong start Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) increased 16.02 points, or 0.59 percent, to reach 2,745.59 as of 9:15 a.m. Overnight, the US stock market finished higher on hopes over peace talks between Russia and Ukraine. The Dow Jones Industrial Average advanced 0.27 percent, the S&P 500 increased 0.71 percent and the tech-heavy Nasdaq climbed 1.31 percent. On the Seoul bourse, most lar

South Korean stocks closed nearly unchanged Monday, as investors remained wary about the uncertainties related to the Russian invasion of Ukraine and the hawkish stance by the US Federal Reserve. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (Kospi) slipped 0.42 points, or 0.02 percent, to close at 2,729.56 points. Trading volume was moderate at about 755 million shares worth some 9.7 trillion won ($7.9 billion), with losers outn

South Korean banks have started raising the maximum amount consumers can borrow under a loan to the level before financial regulators intervened to curb the nation’s household debt growth. The move comes as the nation’s household debt growth has recently shown signs of slowing down. As of Monday, the top four banks here – KB Kookmin, Shinhan, Hana and Woori – have either started raising the limits for its overdraft accounts or its most popular loans for customers who a

South Korean stocks opened lower Monday, as investors remained cautious about the uncertainties related to the Russian invasion of Ukraine and the hawkish stance by the US Federal Reserve. The benchmark Korea Composite Stock Price Index retreated 16.51 points, or 0.6 percent, to trade at 2,713.47 points as of 9:15 a.m. Stocks came off to a lackluster start as the Ukraine-Russian tensions continue to stoke concerns about high commodity prices and inflation growth. Most large caps traded lower in