South Korean stocks opened higher Friday despite the steep hike in the US price gauge, as investors expect the price pressure is still short of starting Federal Reserve discussions to pull back its accommodative policies. The benchmark Korea Composite Stock Price Index (Kospi) rose 24.91 points, or 0.77 percent, to reach 3,249.55 points in the first 15 minutes of trading. The Kospi got off to a strong start on overnight Wall Street tech gains, as investors shrug off signs of high price pressur

South Korean social startup Dot has been picked as the sole supplier of Braille tablet PCs for visually impaired students in the US, the company said Thursday. Through the exclusive contract with the US Department of Education, the Seoul-based startup will provide 30 billion won ($26.9 million) worth of Braille smart tablets, called Dot Pads, to the US schools for four years starting in 2022. The digital devices enable teachers and students to depict shapes, charts and graphs in Braille whil

Delivery platform operator Barogo has secured 80 billion won ($71.7 million) through its series C funding round, the company said Thursday. The amount of the newly raised funds surpassed the firm’s initial target of 50 billion won, showing the increasing interest of investors in the booming delivery businesses. E-commerce firm 11st and retail conglomerate CJ Group have joined the funding round as strategic investors. 11st invested 25 billion won in the latest scheme, while CJ Group&rs

An official green light given to the insurance unit of Kakao Pay and three peer-to-peer companies will pave the way for the country’s innovation in finance, industry experts said Thursday.  The Financial Services Commission has given a preliminary approval of Kakao Pay’s insurance subsidiary as an online-only insurance firm, the regulator announced on Thursday. Kakao Pay will become the country’s first digital-only general insurance company. A digital-focused insurance

South Korean stocks rebounded Thursday on the quadruple expiration day of options and futures, buoyed by strong advances in tech stocks and massive foreign buying. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.46 points, or 0.26 percent, to close at 3,224.64 points. Trading volume was high at about 1.9 billion shares worth some 18.8 trillion won ($16.8 billion), with losers outnumbering gainers 426 to 418. Foreigners scooped a net 71

On SK Telecom’s key decision of spinning off a new investment company, market watchers have painted a rosy outlook for South Korea’s top wireless carrier on Thursday. “The spinoff plan will boost (SK Telecom’s) corporate value. Under the spinoff to a telecom-focused investment holding firm with stable cash flow and dividends, its affiliated companies that were undervalued will likely be reevaluated,” said Ahn Jae-min, an analyst at NH Investment & Securities.

South Korean stocks opened nearly flat Thursday as investors await the release of US consumer price data that may give clues about the Federal Reserve's future monetary policy. The benchmark Korea Composite Stock Price Index (Kospi) edged down 0.5 points, or 0.02 percent, to reach 3,215.68 points in the first 15 minutes of trading. The Kospi got off to muted start as investors take a wait-and-see mode before the US consumer price index (CPI) for May that will be published later in the day (Kor

Toss Bank on Wednesday received final approval from the Financial Services Commission to operate as the nation’s third mobile-only bank. Now that it has the green light, Toss is set to jump into South Korea’s fast-growing online banking market, currently dominated by KakaoBank and K bank. Toss Bank -- backed by Viva Republica, the operator of fintech app Toss -- will officially launch as early as September. Toss Bank will operate within the existing Toss app to take advantage of

South Korean stocks retreated for second straight day on Wednesday as investors took to the sidelines ahead of the release of US consumer price data that may give more clues about the Federal Reserve's next move. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 31.65 points, or 0.97 percent, to close at 3,216.18 points. Trading volume was moderate at about 1.9 billion shares worth some 16.9 trillion won ($15.2 billion), with losers out

South Korean battery maker LG Energy Solution is speeding up to make a stock market debut on the nation’s main bourse Kospi in the second half of this year, according to investment banking sources Wednesday. The company submitted a preliminary application for an IPO to the Korea Exchange on Tuesday. Market insiders say the firm may begin the share sale as early as September in line with its timetable. While KB Securities and Morgan Stanley are underwriting the IPO deal, the size of the

South Korean stocks opened lower Wednesday as the central bank revised up the country's gross domestic product, stoking market concerns of early inflation. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.43 points, or 0.2 percent, to 3,241.4 points in the first 15 minutes of trading. Investor appetite for risk assets decreased, following the Bank of Korea's report that South Korea's economy grew 1.7 percent in the first quarter from three months earlier, 0.1 percentage point hig

South Korea’s market regulator, the Financial Services Commission, is set to decide on Wednesday whether to approve the operations of banking and insurance units developed by financial technology companies, amid mixed expectations for their impact on a market long dominated by traditional institutions. At its monthly meeting, FSC will decide whether to approve Toss Bank and Kakao Pay’s digital-only insurance subsidiary. If approved, Toss Bank will become Korea’s third mobile

Retail investors in South Korea who are seeking short-term profit are increasingly investing in so-called meme stocks, those that see a spike in trading volume based on social media hype rather than the company’s performance. Data compiled by securities information portal SEIBro, operated by the Korea Securities Depository, showed Tuesday that small domestic investors traded US movie theater chain AMC shares the most in the overseas stock market last week. The value of AMC stock traded

South Korean stocks closed Tuesday after choppy trading, as increased valuation pressure offset hopes of a fast economic recovery. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 4.29 points, or 0.13 percent, to close at 3,247.83 points. Trading volume was high at about 1.9 billion shares worth some 19.1 trillion won ($17.1 billion), with losers outnumbering gainers 464 to 376. Foreigners sold a net 206 billion won, while institutions bo

South Korean asset management companies collectively earned record net profit in the first three months, according to data released by the state watchdog Financial Supervisory Service on Tuesday. The combined net profit of the 328 domestic asset management firms came in at 615 billion won ($551.74 million), up 424.7 percent from the same period last year. The growth is partly attributable to reduced operational costs, the FSS said. The figure broke the previous record of 457.5 billion won p