The South Korean entertainment agency behind the global sensation BTS saw its market valuation exceed 10 trillion won ($8.95 billion) for the first time, as the boy band’s new single “Butter” swept global charts. After closing at 282,000 won per share on the nation’s main bourse Kospi Monday, Hybe’s market valuation exceeded 10 trillion won and continued its winning streak on Tuesday rising 2.48 percent to 289,000 won at close. The benchmark Kospi, the country&ls

Fueled by the contactless boom across the country amid the ongoing pandemic, the market capitalization of South Korean internet giants Naver and Kakao soared over 44 trillion won ($39.35 billion) to surpass the 120 trillion-won-mark when combined this year. According to Korea Exchange on Tuesday, shares of Naver rose 3.89 percent to close at 387,000 won, while Kakao advanced 5.17 percent to 142,500 won at the closing bell a day earlier. Following the stock price jumps, the market valuations

South Korean renewed its all-time record for the second straight day Tuesday, backed by investors' optimism for the US Federal Reserve meeting this week. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.5 points, or 0.2 percent, to close at 3,258.63 points. Trading volume was moderate at about 1.7 billion shares worth some 14.5 trillion won ($13 billion), with losers outnumbering gainers 443 to 399. Foreigners sold a net 154 billion won

Hybe Co., the K-pop powerhouse behind BTS, has seen its market capitalization exceed the 10 trillion-won ($8.95 billion) mark amid the boy band's global popularity, data showed Tuesday. Shares in Hybe closed at 282,000 won on Monday, up 2.36 percent from the prior session and marking a three-day winning streak. Monday's tally was well above the 258,000 won ($252) closing price recorded on Oct. 15 last year, or the day of its debut on South Korea's main stock market. The current price is nearl

South Korean stocks opened higher Tuesday ahead of the upcoming US Federal Reserve meeting this week. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.82 points, or 0.27 percent, to trade at 3,260.95 points in the first 15 minutes of trading. The KOSPI started off with mild gains as investors are awaiting clues about when the world's largest economy will start tapering its asset-buying policy. The Federal Open Market Committee rate decision comes on Wednesday (US time). Overnig

Main creditor denies reports on pool of potential buyers, says sincere ones absent

KB Asset Management announced Monday that it has launched the industry’s first metaverse fund. KB Asset Management said it will invest in 30 to 50 stocks after considering 200 to 300 stocks in South Korea, the US, China and Japan that meet the investment conditions. The US stocks will account for 70 percent, the highest proportion of any country, while hardware and platforms will make up 30 percent each. The fund will be investing in Facebook, Apple, Microsoft, Autodesk, NVDIA, Unity So

South Korean stocks closed at an all-time high Monday as investors expect the US Federal Reserve to reiterate its support for accommodative policies in this week's monetary policy meeting. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kopsi) rose 2.81 points, or 0.09 percent, to close at 3,252.13 points, marking the highest closing ever. Trading volume was moderate at about 1.6 billion shares worth some 15 trillion won ($13.4 billion), with losers

South Korean stocks opened nearly flat Monday as investors await the upcoming US Federal Reserve meeting. The benchmark Korea Composite Stock Price Index (Kospi) edged down 1.53 points, or 0.05 percent, to reach 3,247.79 points in the first 15 minutes of trading. The Kospi got off to a muted start as investors are holding onto their cash, seeking more hints about when the world's largest economy will start tapering its asset-buying policy. In Seoul, market bellwether Samsung Electronics retr

Digital coins that were flagged for delisting and given warnings by South Korea’s largest digital asset exchange Upbit plunged over the weekend as financial regulators tightened its grip on the cryptocurrency market. The double-digit plunge in prices came after Upbit on Friday announced that it planned to halt the trading of five digital tokens while issuing “investment warning” on 25 cryptocurrencies. Maro, Paycoin, Observer, Solve.Care and Quiztok will be delisted from th

A new rule banning investors from placing multiple subscriptions for popular initial public offerings is unlikely to cool off the heated market with a slew of conglomerate-affiliated firms and tech companies planning their market debut in the second half of this year, market watchers said. “A total of 37 companies submitted preliminary applications for IPOs in between April and May. Since they are highly likely to try making market debuts within this year, the latter half is expecte

Hana Financial Group said Friday it had launched an internet-only bank in Indonesia through a partnership with Line, Naver-affiliated Japanese messaging app provider. Hana Financial became the first banking group to operate internet-only banking services in Southeast Asia. Branded Line Bank, it offers contactless banking, including savings account opening, subscription to deposit savings products, utility bill payment and cash withdrawals.  The newly launched digital lender will expand

Fame won’t last long for A-listers in Korea, but investment in commercial real estate can bring long-term wealth

South Korean stocks advanced for the second straight session Friday despite the steep hike in the US price gauge, as investors believed the price pressure is still short of triggering talks of tapering by the Federal Reserve. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) increased 24.68 points, or 0.77 percent, to close at 3,249.32 points. Trading volume was moderate at about 1.6 billion shares worth some 17.6 trillion won ($15.8 billion), w

South Korea retail investors have traded more than $1.7 billion worth of shares in AMC Entertainment Holdings Inc., one of the social media-driven meme stocks, this month, data showed Friday. Local individual investors' transactions of shares in the top US movie theater chain came to $1.76 billion in the first eight trading sessions of this month, according to the data from the Korea Securities Depository. AMC Entertainment became the most-bought overseas stock by South Korean retail investors