Hyundai Capital Services Vice Chairman Chung Tae-young is poised to offer his resignation from the company’s top post later this month, the company said Monday. Chung will step down as chief executive officer and executive board member of the auto financing firm on Aug. 30, 18 years after he was promoted to the position in 2003. The brother-in-law of Hyundai Motor Group Chairman Chung Euisun was set to serve a three-year term as Hyundai Capital chief ending in 2024. Vice Chairman Chun

Major South Korean shipbuilder Hyundai Heavy Industries shares were priced at 60,000 won ($51.90) apiece, the top of its indicative range for its initial public offering amid strong demand, the firm said in a regulatory filing Monday. The shipbuilder wrapped up its two-day book building Friday. While institutional investors placed bids to obtain the firm’s new shares from its initial public offering, a total of 1,633 domestic and foreign institutions participated. The competition marked

South Korean stocks edged up after choppy trading Monday as investors seek to digest weaker-than-expected August jobs data in the United States. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 2.27 points, or 0.07 percent, to close at 3,203.33 points. Trading volume was moderate at about 716 million shares worth some 12.1 trillion won ($10.5 billion), with gainers outnumbering losers 427 to 412. Foreigners bought a net 64 billion won,

KakaoBank, the country’s mobile-only bank that went public a month ago, saw its shares fall for three consecutive days on Monday due to an expiring lock-in period for millions of its shares. Shares in the banking arm of mobile giant Kakao declined more than 5 percent to 77,300 won ($66.76) in morning trade, while the benchmark Kospi inched up 0.04 percent. Some 3.14 million shares or 8.72 percent of the total shares subscribed by institutional investors became available for trading as

South Korean stocks opened nearly flat Monday as investors seek to digest weaker-than-expected August jobs data in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.98 points, or 0.03 percent, to 3,200.08 points in the first 15 minutes of trading. The US jobs increase came to a seven-month low in August amid the spread of variant cases, raising expectations that the Federal Reserve would not rush in tapering its asset buying plans in the September meeting. Fi

More listings planned later this year to add fuel to sizzling IPO market

South Korea’s demand for apartments in the capital and its surrounding areas only got higher, despite the central bank’s recent decision to end 15 months of record-low interest rates, data showed Friday. According to the Korea Real Estate Board, the index measuring supply and demand for apartments in Seoul and the surrounding area inched up 0.9 point on-week to 111.7 as of Monday, compared with 110.8 last week. When the index is higher than 100, it signals that there are more buyer

Bithumb, one of South Korea’s four major cryptocurrency exchanges, said Thursday that foreigners who fail to verify their identities via mobile phones will not be allowed to use the platform. The decision came as the exchange gears up to register with the financial authorities by Sept. 24 -- the deadline under the revised Act on Reporting and Using Specified Financial Transaction Information. As a result, foreigners who cannot provide verification via Korean mobile phones will not be ab

South Korean stocks ended a four-session winning streak Thursday as investors sought to lock in recent gains amid concerns of inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 31.17 points, or 0.97 percent, to close at 3,175.85 points. Trading volume was moderate at 731.76 million shares worth some 13.99 trillion won ($11.8 billion), with losers outnumbering gainers 472 to 371. Foreigners offloaded a net 380.8 billion won

Hyundai Heavy Industries announced a blueprint to usher in a paradigm shift in the global shipbuilding industry of its planned market debut on the South Korean main board Kospi on Sept. 16. The major shipbuilder here unveiled its vision of being a first mover for eco-friendly ships during an online press conference with reporters Thursday, while also detailing specific plans for its initial public offering. “Developing eco-friendly and digitalized vessels, constructing smart shipyards

South Korean stocks opened lower Thursday as investors attempted to lock in recent gains. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.6 points, or 0.21 percent, to trade at 3,200.42 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid sell-offs in banking, bio and auto large caps after the index rose for four straight sessions. Market kingpin Samsung Electronics edged down 0.13 percent, and No. 2 chipmaker SK hynix slipped 0.46 percent. P

Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit on Wednesday kicked off its signature annual Upbit Developer Conference with global industry experts. The company said that its two-day conference features pressing issues in the industry such as nonfungible tokens, decentralized finance, smart contracts, central bank digital currencies, with 18 global blockchain industry leaders including Lee Jung-bong , CEO of Seoul Auction Blue, and Cuy Sheffield, vice president and

 South Korean stocks rose for the fourth consecutive session Wednesday as strong exports boosted investor sentiment. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 7.75 points, or 0.24 percent, to close at 3,207.02 points. Trading volume was moderate at about 738.27 million shares, worth some 13.29 trillion won ($11.2 billion), with gainers outnumbering losers 589 to 239. Foreigners purchased a net 119 billion won worth of local s

Anti-short selling campaigners say Korean version of GameStop saga will continue until playing field becomes even

Insider stock ownership at South Korea's family-run conglomerates rose this year as more founding members and their families sought to tighten their grip on management, the antitrust regulator said Wednesday. The insider stock ownership rate of 60 conglomerates having group owners reached 58 percent his year, up 1 percentage point from a year earlier, according to the Korea Fair Trade Commission (KFTC). Insider stock ownership refers to the stocks held by the founding members and his or her im