South Korean stocks closed up for the second straight session Wednesday, led by chipmaker gains and easing fear about the omicron variant of the new coronavirus. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 9.45 points, or 0.32 percent, to close at 2,984.48 points. Trading volume was moderate at about 453 million shares worth some 8.6 trillion won ($7.2 billion), with gainers outnumbering losers 486 to 357. Foreigners bought a net 30

South Korean stocks opened steeply higher Wednesday, tracking overnight rallies on Wall Street that stemmed from easing fears about the impact of the omicron variant on the global economy. The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.95 points, or 0.64 percent, to trade at 2,993.98 points in the first 15 minutes of trading. The KOSPI got off to a bullish start, led by tech and auto advances. Overnight, the tech-heavy Nasdaq composite jumped 2.4 percent and the Dow Jones

SEJONG -- Almost 4 in every 5 foreign salaried workers in South Korea were found to be earning less than 3 million won ($2,500) a month, state data showed Tuesday. According to Statistics Korea and the Korea Immigration Service, around 811,000 foreigners were employed here this year, up 0.9 percentage point compared to the previous year. Of them, the portion of foreign employees whose monthly wage stayed under 3 million won reached 78.1 percent, or 633,000 people, this year. While 52.2 perce

South Korean stocks rebounded Tuesday, as investors sought to buy oversold stocks after the key index's recent plunge. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 12.03 points, or 0.41 percent, to close at 2,975.03 points. Trading volume was moderate at about 396 million shares worth some 8.6 trillion won ($7.2 billion), with losers outnumbering gainers 428 to 415. Institutions bought a net 601 billion won and foreigners purchased 3

South Korean stocks opened higher Tuesday, as investors sought to buy oversold stocks after the key index's recent plunge. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.16 points, or 0.51 percent, to 2,978.16 in the first 15 minutes of trading. Stocks started strong after the stock index dipped nearly 2 percent the previous session over the global spreading of the omicron variant of the new coronavirus. Most large caps rebounded in Seoul. Top cap Samsung Electronics adde

Mirae Asset Securities Chairman Choi Hyun-man was named person of the year by the Korea Exchange, Korea’s sole bourse operator, for his contribution to the local capital market, officials said Monday. “Chairman Choi heads a leading brokerage company that helped 21 firms go public this year, including game maker Krafton, in what was the biggest initial public offering in 2021,” the Korea Exchange said. The exchange credited its first awardee Choi for becoming the first non-fa

South Korean stocks plunged nearly 2 percent Monday morning amid spreading virus concern. The Korean won steeply fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) retreated 54.73 points, or 1.81 percent, to close at 2,963 points, the lowest closing since Dec. 2. Trading volume was low at about 371 million shares worth some 8.5 trillion won ($7.1 billion), with losers outnumbering gainers 785 to 117. Foreigners offloaded a net 552 billion won, and institutions

South Korean stocks opened steeply lower Monday, tracking last week's fall on Wall Street stemming from virus concerns. The benchmark Korea Composite Stock Price Index (KOSPI) declined 29.65 points, or 0.98 percent, to 2,988.08 points in the first 15 minutes of trading. Most large caps traded lower in Seoul. Top cap Samsung Electronics shed 0.9 percent, and No. 2 chipmaker SK hynix decreased 0.41 percent. Internet portal operator Naver retreated 1.95 percent, leading chemical firm LG Chem fe

In 2021, South Korea’s two biggest financial technology firms, Naver and Kakao, saw their market capitalization expand on-year, while drugmakers faced a dip in market value. As of last week, Naver, the country’s largest internet portal, had seen a 36 percent jump in its market cap at 63 trillion won ($53 billion), while the market value for Kakao, which runs the country’s largest messenger app for smartphones, almost tripled at 115 trillion won. The hike mainly came from Kaka

South Korean stocks are expected to gain momentum next week, as investor sentiment will be buoyed by eased uncertainty about the US monetary policy, analysts said Saturday. The benchmark Kospi closed at 3,017.73 points Friday, little changed from 3,010.23 points a week ago. The key stock index retreated on Monday and Tuesday as investors took to the sidelines ahead of the US Federal Reserve's policy meeting. But local stocks rebounded for three straight sessions to Friday, as the outcome of t

South Korea is among the world’s biggest seller of green bonds, and one of its top issuers is planning to tap the global debt market more aggressively next year to provide sustainable funds to local companies operating abroad. Export-Import Bank of Korea, the nation’s second-largest issuer of green notes, plans to sell about $12 billion to $12.5 billion of bonds offshore in 2022, compared with around $11 billion this year, said Lee Dong-hoon, the treasurer of the bank. It expects ab

South Korean stocks rose for a third straight session on Friday, as foreign investors snapped up local stocks on eased uncertainty about the US monetary policy. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) increased 11.32 points, or 0.38 percent, to close at 3,017.73 points. Trading volume was moderate at about 438 million shares worth some 11.2 trillion won ($9.5 billion), with gainers outnumbering losers 510 to 344. Foreigners bought a n

Gangnam-gu posts 3 percent increase in October-December period

South Korean stocks opened lower Friday, tracking an overnight stock plunge on Wall Street as investors digest the US Fed's recent monetary policy decision. The benchmark Korea Composite Stock Price Index (Kospi) declined 4.92 points, or 0.16 percent, to 3,001.49 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite shed 2.47 percent over the Fed's move to double the pace of its stimulus withdrawal and projections of three rate hikes next year. The Dow Jones Ind

SEJONG -- The local financial market will not face a high-level volatility despite the news that US monetary policymakers will accelerate their exit from quantitative-easing, Korea’s senior officials expected Thursday. At a meeting for macro economy and finance in Seoul, officials clarified that their prediction was based on Korea’s preemptive measures, involving hikes in the benchmark interest rate earlier this year. First Vice Finance Minister Lee Eog-weon said that the possibil