South Korean stocks rebounded more than 2 percent Wednesday, after plunging to the year's lowest point in the previous session. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) advanced 60.71 points, or 2.14 percent, to close at 2,899.72 points, ending its six-day slide. Trading volume was moderate at about 553 million shares worth some 12.1 trillion won ($10.3 billion), with gainers outnumbering losers 773 to 122. Foreigners bought a net 907

South Korean stocks opened higher Wednesday on advances in tech and bio shares despite overnight falls on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) inched up 3.57 points, or 0.13 percent, to 2,842.58 points in the first 15 minutes of trading. The Dow Jones Industrial Average retreated 1.86 percent, and the tech-heavy Nasdaq composite declined 1.55 percent amid growing concerns about the omicron coronavirus variant and accelerating inflation in the world's largest eco

South Korean stocks tumbled to a 52-week low Tuesday as concerns over the potential impact of the omicron coronavirus variant continued to weigh on investor sentiment. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) plummeted 70.31 points, or 2.42 percent, to close at 2,839.01 points. Trading volume was high at about 968 million shares worth some 19.2 trillion won ($16.2 billion), with losers outnumbering gainers 874 to 48. Foreigners sold a

Dunamu, the operator of cryptocurrency exchange Upbit, said Tuesday that it has launched the beta version of its video chat metaverse platform, pushing the boundary between the real world and virtual reality. Metaverse refers to virtual communities that let users interact in real time. On 2ndblock, the metaverse platform, a video chat window automatically pops up when users’ avatars are close by, and users can see each other’s faces through webcams. They can also actively communic

South Korean stocks opened higher Tuesday as investors attempted to buy oversold stocks amid the potential impact of the omicron coronavirus variant. The benchmark Korea Composite Stock Price Index (KOSPI) rose 28 points, or 0.96 percent, to 2,937.32 in the first 15 minutes of trading. The new variant has not been detected in South Korea, which has been battling a recent surge of coronavirus cases. Global stock markets rebounded Monday, partly recouping their losses made last Friday amid inv

South Korean stocks ended down for the fifth straight session on Monday as investors remained worried over the impact of the emergence of the omicron variant of the coronavirus on the global economy. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) retreated 27.12 points, or 0.92 percent, to close at 2,909.32 points. Trading volume was moderate at about 832 million shares worth some 12.9 trillion won (US$10.8 billion), with losers outnumbering

Globally, internal control is a hot issue for financial companies on several fronts, including environmental, social and governance -- or ESG -- issues as well as cybersecurity. This is because internal control is the process implemented by companies to ensure compliance with the law and the reliability of its information and financial reporting, therefore it is an area of law that must adapt to the changing legal and business environments. Accordingly, as the world focuses on a sustainable futu

South Korean stocks opened lower Monday, largely as investors wondered how the omicron variant of the coronavirus would affect the global economic reopening. The benchmark Korea Composite Stock Price Index (Kospi) fell 21.9 points, or 0.75 percent, to 2,914.54 points in the first 15 minutes of trading. South Korea reported 3,309 new COVID-19 cases Monday, none of which have been confirmed as an infection from the omicron variant. Most sectors traded lower, except vaccine-related bio and medic

South Korean blockchain research company AMAXG has put up an ad on the Time Square billboard in New York, sharing its vision on metaverse and nonfungible tokens. The ad says, “AMAXG Group is in full support of technological innovation of metaverse in Korea.” AMAXG Group has recently announced it will expand its BizAuto Platform, a group of metaverse services platforms, consisting of three platforms -- BIZA-UVIT, BIZA-Metaversity and BIZA-CarnegieMall. It plans to add BIZA-Motors,

SEJONG -- Banpo-dong, Seoul, is likely to see the average trading price of homes exceed 100 million won ($83,800) per “pyeong” in the coming months. Apgujeong-dong, Seoul is poised to follow suit. In the nation, a pyeong is a basic unit used for real estate prices, equal to 3.3 square meters. These two districts in the capital’s Gangnam-gu, located just south of Han River, are the priciest in South Korea. According to Naver.com and KB Kookmin Bank, Banpo-dong’s home pr

South Korean stocks opened lower Friday, largely as investors worry over the escalating coronavirus situation. The benchmark Korea Composite Stock Price Index (Kospi) fell 3.02 points, or 0.1 percent, to 2,977.25 points in the first 15 minutes of trading. The Kospi started off weak amid losses on the chemical and tech heavyweights. Market bellwether Samsung Electronics edged down 0.14 percent, No. 2 chipmaker SK hynix traded flat, and internet portal operator Naver lost 1.13 percent. Pharmac

Dunamu, the operator of cryptocurrency exchange Upbit, said Wednesday that it sold its first NFT art: two paintings by the famous Korean pop artist Jang Koal. The first art piece, “Mirage Cat 3,” started its bidding price from 0.0416 bitcoins, worth 2.8 million won ($2,350), and was sold on Wednesday on the Upbit NFT Beta platform to a bidder who had offered 3.5098 bitcoins, or about 240 million won, the company said. The nonfungible token, digital counterparts of real-world asse

SEJONG -- The number of paid jobs for South Koreans in their 30s has declined for a seventh consecutive quarter. This could indicate a lack of job security for the core working age bracket, despite recent improvement in hiring indexes for other age groups. Statistics Korea said Thursday that the tally for salaried jobs increased by 681,000 on-year for all age groups in the second quarter. By age, the figure decreased only among those aged between 30-39. Those in their 60s and older topped the

South Korean stocks closed lower to extend their losing streak to a third day Thursday as the country's central bank raised its key policy rate to fight inflation and household debt. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 14.02 points, or 0.47 percent, to close at 2,980.27 points. Trading volume was moderate at about 587 million shares worth some 9.3 trillion won ($7.8 billion), with losers outnumbering gainers 642 to 228. Foreigners and institutions offloaded a ne

South Korean stocks opened lower Thursday as investors attempted to cash in gains from the recent rally. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.35 points, or 0.25 percent, to 2,986.94 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start, apparently on the back of losses in tech heavyweights. Top cap Samsung Electronics fell 0.53 percent, and No. 2 chipmaker SK hynix lost 0.42 percent. Leading chemical firm LG Chem shed 1.2 percent and