SEJONG -- The tally of those subject to the comprehensive real estate holding tax -- individuals or corporations -- exceeded 1 million this year for the first time since the nation introduced the tax in June 2005. According to the National Tax Service, almost 1.03 million individuals and corporations are supposed to pay comprehensive real estate taxes in 2021. The figure consists of 947,000 homeowners and 79,600 landowners. This shows that the number of comprehensive real estate holding tax ta

South Korean stocks closed slightly lower Wednesday as investors took to the sidelines ahead of the central bank's monetary policy meeting. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) slipped 3.04 points, or 0.1 percent, to close at 2,994.29 points. Trading volume was moderate at about 540 million shares worth some 10.7 trillion won ($9 billion), with losers outnumbering gainers 477 to 373. Institutions sold a net 592 billion won, while f

South Korean stocks opened higher Wednesday on advances in tech and financial shares. The benchmark Korea Composite Stock Price Index (Kospi) added 16.47 points, or 0.55 percent, to 3,013.8 points in the first 15 minutes of trading. Bank and insurance shares went up amid expectations the Bank of Korea might raise the key interest rate Thursday. Market bellwether Samsung Electronics gained 0.53 percent, and No. 2 chipmaker SK hynix increased 0.84 percent. Internet portal operator Naver slippe

Dunamu, the operator of cryptocurrency exchange Upbit, said Tuesday that it has launched a new trading platform for nonfungible tokens, further expanding its footprint in the virtual asset space. NFTs are blockchain-based digital counterparts of real-world assets, mostly in the areas of visual arts or music. The blockchain company opened its Upbit NFT Beta service on Upbit’s website, where its users can sell and purchase NFTs at auction. Using the “Drops” function, users ca

Companies across the globe will see their earnings return to pre-pandemic levels next year and European equity markets in particular could offer good investment opportunities, Dutch insurer NN Group’s asset management arm said Tuesday. Marco Willner, head of investment strategy at NN Investment Partners, said inflation fears, along with supply disruptions and a potential energy crisis triggered by the pandemic, still pose challenges, but inflation is transitory and the global economy has

South Korea’s JB Financial Group received an overall “A plus” rating for the firm’s environmental, sustainable and governance values by the nation’s leading proxy advisory institution for the second consecutive year. JB Financial said Monday it has received the second highest level of a seven-tier ESG rating from the Korea Corporate Governance Service, citing the firm’s recent progress in adopting ESG values in management. This year, KCGS’ ESG rating

South Korea’s financial regulator said Tuesday it might impose tax on nonfungible tokens, adding fuel to controversy surrounding virtual asset taxation in the country. NFTs refer to the digital counterparts of real-world assets, mostly of visual art or music, that guarantee ownership through the blockchain technology. Financial Services Commission Vice Chairman Doh Kyu-sang recently said that the government could collect taxes on NFTs under the current Act on the Specified Financial Tran

Emro, a supply chain management software company in Korea, said Monday its third-quarter net profit rose 21 percent from a year ago on expansion of clients and business. According to the company’s regulatory filing, its net profit stood at 3.98 billion won ($3.3 million) in the July-September period. Its operating income jumped 42 percent on-year to 4.04 billion won, and revenue expanded 11 percent to 11.2 billion won in the cited period. Emro said its net profit grew thanks to the incr

South Korean stocks opened lower Tuesday as investors attempted to lock in gains from the recent tech rally. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.54 points, or 0.22 percent, to 3.006.71 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid losses in most large caps. Overnight, the tech-heavy Nasdaq composite lost 1.26 percent amid lingering inflation concerns. The Dow Jones Industrial Average edged up 0.05 percent Top cap Samsung

South Korean stocks rallied by some 1.5 percent Monday as a surge in chip heavyweights, such as Samsung Electronics, led the market gain. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 42.23 points, or 1.42 percent, to close at 3,013.25 points. Trading volume was moderate at about 524 million shares worth some 12.8 trillion won ($10.8 billion), with gainers outnumbering losers 490 to 372. Foreigners bought a net 796 billion won and in

Move for legal action seen among homeowners

South Korean stocks opened higher Monday, helped by robust economic data that fueled optimism for a quick economic rebound from the pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.6 points, or 0.73 percent, to 2,992.62 points in the first 15 minutes of trading. Stocks got off to a bullish start as South Korea's exports jumped 27.6 percent on-year in the first 20 days of November on high demand for chips, autos and petroleum goods. Tech gains led the KOSPI's hike. To

Park Kwan-ho, the chairman of game developer Wemade, joined South Korea’s game billionaires last week as the company’s valuation soared following the growing popularity of its new game, which is based on the blockchain technology. Park, 49, saw his stock value reaching 3.3 trillion won ($2.77 billion) as of Thursday, which makes him the 10th richest man among individuals owning stocks in domestic listed companies, according to local market data provider FnGuide. Park, the largest

Although private debt has grown in profile as an investment option, South Korean investors are reluctant to adopt strategies that capitalize on debt mispricing, saying they prefer a conservative portfolio that protects investors against losses. Instead, they are looking to increase safety of investment with a focus on diversification and recession-proof sectors. “We will continue to invest in defensive sectors and construct a well-diversified portfolio, as we prefer an all-weather strat

Global investment firm Carlyle Group’s buyout fund Carlyle Asia Partners V has inked a deal to acquire 100 percent ownership of South Korea’s No. 2 coffee chain, A Twosome Place, officials said Friday. The final agreement followed negotiations between Carlyle and Hong Kong-based Anchor Equity Partners, which owned the franchise. The exact value of the takeover deal has not been revealed but investment banking sources estimate that it is worth between 700 billion won ($592 million) a