South Korean stocks closed a tad lower Thursday, as investors wait for key economic data from the United States later this week, which is widely seen as a gauge for a potential rate hike. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 2.92 points, or 0.09 percent, to close at 3,165.51 points. Trading volume was high at about 1.1 billion shares worth some 19.9 trillion won ($17.8 billion), with gainers outnumbering losers 496 to 360. Fo

An upward trend for apartment prices in Seoul has continued for 40 weeks in a row, since last June, according to the state-run Korean Real Estate Board on Thursday. Market experts say unstoppable apartment price increases in Gangnam have driven the growth, inflating home prices in other regions in and around Seoul. The rate of increase stayed between 0.1 percent and 0.2 percent during most of the second half last year, and this year it increased from 0.06 percent in the first week of January

Line Plus, a subsidiary of the Naver-owned Line Corp., said Thursday that it had signed a memorandum of understanding with NuriFlex, a global provider of blockchain-based payment solutions, to develop a transaction platform for central bank digital currency targeting Latin American and African countries. Under the business partnership, the two companies will set up the envisioned payment system in a way that complies with Latin American and African states’ financial regulations and provid

South Korean stocks opened nearly flat Thursday, as investors continued to wait for the upcoming release of key consumption data in the United States that is widely seen as a gauge for inflation. The benchmark Korea Composite Stock Price Index (Kospi) traded down 0.54 points, or 0.02 percent, at 3,167.89 points in the first 15 minutes of trading. The Kospi got off to a muted start as investor caution grew while waiting for the personal consumption expenditures (PCE) data, or core PCE, known to

South Korea’s top financial regulator said Wednesday that cryptocurrency investors would be provided protection under the revised financial transaction information law. “The amended Act on Reporting and Using Specified Financial Transaction Information took effect on March 25 and crypto exchanges are to file for regulatory approval by Sept. 25,” Financial Services Commission Chairman Eun Sung-soo told reporters after delivering a keynote speech at 2021 Korea Fintech Week in S

South Korean stocks closed slightly lower after choppy trading Wednesday as investors took to the sidelines amid lingering concerns of early post-pandemic inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.89 points, or 0.09 percent, to close at 3,168.43 points. Trading volume was moderate at about 1.3 billion shares worth some 13 trillion won ($11.6 billion), with gainers outnumbering losers 515 to 337. Foreigners sold a net 3

South Korean stocks opened higher Wednesday, helped by expectations of a fast economic recovery from the pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.76 points, or 0.21 percent, to 3,178.08 points in the first 15 minutes of trading. Stocks advanced despite the overnight losses on Wall Street, as local economists increasingly speculate that the central bank may raise its 2021 growth forecast to some 4 percent this week. A strong 41.1 percent jump in April exports

South Korean stocks ended their three-day losing streak Tuesday, following the US Federal Reserve's comments that helped ease concerns of early post-pandemic inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 27.02 points, or 0.86 percent, to close at 3,171.32 points. Trading volume was moderate at about 603 billion shares worth some 11.5 trillion won ($10.2 billion), with gainers outnumbering losers 618 to 224. Foreigners bought

The 38-year-old hotel formerly owned by Daewoo Group reportedly to become office building

Kim Tae-hee, Ha Jung-woo, Soyou and more put properties on sale apparently due to government’s stricter rules

South Korean stocks opened higher Tuesday, as investor concerns over early post-pandemic inflation were eased by the soothing comments by the US Federal Reserve. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.27 points, or 0.26 percent, to reach 3,152.57 points in the first 15 minutes of trading. Overnight, the tech-laden Nasdaq gained 1.41 percent, as the Fed's key officials said the recent price hikes and supply shortages may be temporary. The Dow Industrial Average and the

Average monthly rent in South Korea jumped more than 6 percent in the first three months of the year due to an increasing number of people switching from long-term jeonse contracts to monthly rentals, according to the nation’s statistics agency Statistics Korea on Monday. Households, including single-person ones, paid 328,000 won ($291) on average for rent in the first quarter, up from 308,000 won in the same period last year. Of the 7,200 households surveyed by the agency, 19.9 percent

South Korea's stock market extended its losing streak to a third session Monday, weighed down by concerns of early post-pandemic inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.12 points, or 0.38 percent, to close at 3,144.3 points. Trading volume was moderate at about 581 million shares worth some 11.5 trillion won ($10.2 billion), with losers outnumbering gainers 646 to 232. Foreigners sold a net 238 billion won, while re

South Korea‘s stock bourse will add eight new actively managed exchange traded funds that partially employ active stock picking in addition to tracking listed equities starting on Tuesday. The Korea Exchange on Friday approved the listing of the eight actively managed equity ETFs on the Kospi board, in addition to the three existing products launched in 2020, in what is regarded as the fledging market of active ETFs. Korea is home to ETFs with a combined value of 60 trillion won ($53.2 bi

Citibank Korea has signed a memorandum of understanding with Yanolja to support the local accommodation booking platform’s overseas business activities, officials said Monday.  Under the agreement, the lender’s US parent company Citigroup will offer its global networks to Yanolja which aims to expand its client base not only in advanced markets such as the United States and Europe, but also emerging markets like Southeast Asia and India. Yanolja currently offers a cloud-base