South Korean stocks opened slightly lower Tuesday on increased valuation pressure after the key stock index closed at an all-time high the previous session. The benchmark Korea Composite Stock Price Index (Kospi) fell 3.08 points, or 0.09 percent, to reach 3,249.04 points as of 9:17 a.m. The Kospi got off to choppy start after it finished the previous session at a record high of 3,252.12 points. Stock prices fluctuated as investors take a wait-and-see mode, seeking more clues to fathom the ou

Experts say Kospi headed for fresh highs as foreign investors return

Two-year apartment leases, known locally as jeonse, have jumped by some 44 percent in Seoul since the beginning of the current Moon Jae-in administration, data showed Monday. The average price of a two-year refundable lease on a high-rise apartment came in at 426.2 million won ($384,000) when the Moon administration began in May 2017, but the price had risen 44.2 percent to 614.5 million won as of last month. During the same period, the average jeonse price per square meter soared 43 percen

South Korea's stock market closed at an all-time high Monday as weaker-than-expected US jobs data helped ease concerns over the potential rollback of the country's expansive monetary policy. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 12.04 points, or 0.37 percent, to close at 3,252.12 points, marking the highest closing ever. Trading volume was high at about 1.7 billion shares worth some 18.8 trillion won ($16.9 billion), with lo

South Korean stocks opened higher Monday as investor sentiment was boosted by slower-than-expected US jobs data that partially eased concerns of early inflation. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.48 points, or 0.54 percent, to reach 3,257.56 points in the first 15 minutes of trading. The KOSPI got off to a bullish start as investors are relieved that the increase in US non-agricultural jobs in May turned out to be slower than the market consensus. The key stock i

Qraft’s AI-enhanced ETF gains spotlight for unloading Tesla shares before falling

In recent years South Korea has seen a surge in real estate investment deals that were thought to be speculative, but some market watchers say the country still lacks effective measures to prevent property speculation and the resulting price hikes. Data compiled by the Ministry of Land, Infrastructure and Transport showed that foreign individuals owned 21.35 million square meters of land in the nation in 2020, up 78 percent from 11.99 million square meters in 2016. Separate data from real es

Despite the prolonged COVID-19 pandemic and social distancing rules in place, some indoor golf facilities featuring simulators and golf courses have been enjoying increased popularity, thanks largely to their relatively less crowded environments, a report said Sunday.  According to the report published by research firm KB Financial Group Research Institute, Golfzon, the nation’s leading virtual golf simulator company, saw its total sales increase more than 20 percent on-year in 202

Slew of financiers expressed interest in buying Citibank Korea’s retail biz, but employees may face massive layoffs; firm also considers complete exit of retail biz in phases if deal doesn’t materialize

South Korean stocks snapped a five-day winning streak Friday, as investors took to the sidelines to lock in gains amid increased valuation pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.35 points, or 0.23 percent, to close at 3,240.08 points. Trading volume was moderate at about 1.4 billion shares worth some 15.8 trillion won ($14.2 billion), with losers outnumbering gainers 483 to 371. Foreigners bought a net 162 billi

Korea Investment Management, the fund operating unit of Korea Investment Holdings, said Friday that its fixed income fund dedicated to environmental, social and governance-related investments has surpassed 1.5 trillion won ($1.34 billion) by the size of assets it manages. The size of the product, dubbed KIM Credit Focus Feeder ESG Bond 1, has rapidly increased, backed by investors’ appetite for stable profits amid possible changes in interest rates, the company said. The amount of assets

South Korean stocks opened lower Friday on increased valuation pressure after gaining for the past five sessions.  The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.73 points, or 0.52 percent, to reach 3,230.7 points in the first 15 minutes of trading. The KOSPI got off to a weak start after finishing only an inch away from its all-time high the previous session. A tech slump led the KOSPI's retreat. Market bellwether Samsung Electronics declined 0.72 percent, and No. 2 c

Samsung Life Insurance has set up a plan to invest 20 trillion won ($17.98 billion) in financial projects linked to environmental, social and governance initiatives by 2030, the company said Thursday. After holding ESG meetings among executives recently, the insurer announced its long-term plan to make investments in renewable energy businesses and ESG bonds while cutting carbon emissions in half and reducing paper use by 60 percent by the end of 2030. The company said it will also try to pu

Online-only KakaoBank has launched a task force to expand its lending services for customers with low and midrange credit scores, the company said Thursday. The bank is planning to roll out various loan services this year, lower interest rates for credit loans and increase credit lines, offering up to 70 million won ($62,927) for customers with low and midrange credit scores. In addition, its new credit rating model will factor in both financial and nonfinancial information, such as data on

South Korean stocks advanced for a fifth straight session Thursday, backed by the US Federal Reserve's economic diagnosis that partially eased market jitters over early post-pandemic inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.2 points, or 0.72 percent, to close at 3,247.43 points, just shy of its all-time high close of 3,249.3 points on May 10. Trading volume was moderate at about 1.6 billion shares worth some 16.7 tri