South Korean stocks opened higher Monday as investors sought to buy oversold stocks after the benchmark index took a breather the previous session. The benchmark Korea Composite Stock Price Index (Kospi) rose 22.86 points, or 0.71 percent, to 3,240.81 points in the first 15 minutes of trading. Stocks came to a strong start after the Kospi retreated 2.64 percent in the past three sessions amid rising concerns over the fourth wave of the pandemic in the country. Market kingpin Samsung Electroni

Korean fresh food delivery platform Market Kurly has changed the venue for its planned public debut from the US to the Korean market, as recently relaxed listing regulations and market conditions now give them firm reasons to stay home. After exploring options of floating its shares in the US or at home, Market Kurly decided to go for the Korean stock market, it said Friday. “We appreciate domestic customers, producers and suppliers and would like to share the success of the company,&

President Moon Jae-in has invested 50 million won ($43,700) into major funds intended to support the government’s New Deal project since January this year. About six months later, the funds have drawn more than a 5 percent average return combined, data showed Sunday. According to financial market tracker FN Guide, the five New Deal funds operated by local asset management firms have generated a 5.26 percent return on average as of Thursday. The president, who made his investment on Jan. 1

South Korean stocks are likely to face increased volatility next week as hopes for strong corporate earnings square off against escalating virus woes.    The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,217.95 points on Friday, down 1.94 percent from a week ago.    The key stock index started this week with gains, thanks to upbeat outlook for corporate earnings in the April-June period.    But stock prices plunged in the last three sessions,

South Korean stocks slumped for the third day in a row Friday as the country decided to impose a semi-lockdown in the greater Seoul area, a hotbed for the recent spike in the new coronavirus, to rein in the fast spreading COVID-19. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) slumped 34.73 points, or 1.07 percent, to close at 3,217.95 points. Trading volume was moderate at about 1.3 billion shares worth some 16.2 trillion won ($14.1 billion

South Korean stocks opened lower Friday as the country decided to impose a semi-lockdown in the greater Seoul area, a hotbed for the recent spike in the new coronavirus. The benchmark Korea Composite Stock Price Index (Kospi) fell 23.3 points, or 0.72 percent, to trade at 3,229.38 points in the first 15 minutes of trading. The Kospi came off to a lackluster start, as the country decided to raise its virus restrictions in the wider Seoul area to the highest level. The announcement came after t

South Korean stocks plunged nearly 1 percent Thursday as investors turned risk-averse amid a surge in new coronavirus cases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 32.66 points, or 0.99 percent, to close at 3,252.68 points. The figures mark the steepest daily fall since May 13. Trading volume was moderate at about 1.5 billion shares worth some 16.5 trillion won ($14.4 billion), with losers outnumbering gainers 777 to 106. F

The scheduled launch of South Korea’s comprehensive data service project next month has been delayed, financial authorities said Thursday, with the COVID-19 pandemic stalling its development. The government-led MyData project, when launched, will allow licensed service providers to collect and analyze personal data scattered across the finance sector. The service providers must collect consumers’ consent before they can access their data, currently held separately by different finan

South Korean social casino game developer and publisher DoubleDown Interactive has accelerated an initial public offering push to debut on the tech-heavy Nasdaq bourse in the US by picking an additional lead manager, its parent company DoubleU Games said Thursday. According to the officials, DoubleDown Interactive chose B. Riley Securities as its new joint underwriter for the IPO along with the previously selected Macquarie Capital. The update on the underwriting company has been made through

The number of South Korea's listed firms with a market capitalization of 1 trillion won ($875 million) or more rose by more than 30 in the second quarter amid a stock market rally, a corporate tracker said Thursday. A total of 274 listed companies were worth 1 trillion won or more as of end-June, up 32 from three months earlier, according to a survey of 2,357 corporations by CXO Institute. The total market capitalization of the companies came to 2,604 trillion won as of the end of June, up 8 p

With apartment prices soaring in the South Korean capital of Seoul, a growing number of residents are leaving the city for its surrounding areas, data showed Thursday.  According to data from Statistics Korea, from January to May, an average of 8,823 people moved out of the city each month. The agency forecast that the total net outflow for 2021 would reach 100,000. This contributed to overall changes in population. While Seoul‘s population declined 102,475 in the last six months,

South Korean stocks opened higher Thursday as the US Federal Reserve's minutes signaled that the world's largest economy would not hurry its timeframe for tapering its asset purchasing program. The benchmark Korea Composite Stock Price Index (Kospi) rose 7.43 points, or 0.23 percent, to trade at 3,292.77 points as of 9:15 a.m. Overnight, the Dow Jones Industrial Average advanced 0.3 percent, with the tech-heavy Nasdaq Composite and the S&P 500 adding 0.01 percent and 0.34 percent, respecti

South Korean credit card issuer Hyundai Card said Wednesday it has launched new credit cards which offer ultimate rewards, exclusively for owners of Hyundai Motor’s premium luxury sedan Genesis. Branded as Genesis Card edition, it is subdivided into two types -- mobility service and electric vehicle service. Depending on their car models, the Genesis owners can choose which card to use.  Cardholders, who are registered at Hyundai Motor‘s membership program called Blue Member

BUSAN -- Blockchain experts gathered in Busan -- a city designated as a blockchain special zone -- on Wednesday to assess the city’s potential to become the center of a global digital information ecosystem. Introducing the city’s blockchain projects that are taking place here, Shin Chang-ho, director of the Future Industry Bureau of Busan Metropolitan City, said the blockchain technology has paved the way for the nation’s port city to transform into a financial hub and a glo

South Korean stocks closed lower Wednesday after hitting an all-time high the previous session amid growing concerns over a surge in new COVID-19 cases. The Korean won sharply fell against the US dollar on risk-averse sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) fell 19.87 points, or 0.6 percent, to close at 3,285.34 points. Trading volume was moderate at about 1.1 billion shares worth some 14.3 trillion won ($12.7 billion), with losers outnumbering gainers 663 to 202. F