South Korean stocks opened slightly lower Monday, weighed down by investor concerns of early post-pandemic inflation. The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.13 points, or 0.1 percent, to 3,153.29 points in the first 15 minutes of trading. The KOSPI got off to a weak start as accelerating inflation may sap demand for risky assets. Top cap Samsung Electronics traded flat, and No. 2 chipmaker SK hynix lost 1.22 percent. Internet portal operator Naver shed 1.39 percent, w

Analysts revise down target stock price as Samsung Electronics becomes biggest foreigner selloff target in Korea

Lenders refuse to take up screening role of money laundering attempts via crypto accounts; minor exchanges likely to be affected

Stock manipulators will face confiscations of not only illegal gains but also their seed money under a revised capital market law that seeks to raise the integrity of the market. The National Assembly on Friday approved a partial revision to the Financial Investment Services and Capital Markets Act aimed at improving investor protection and preventing market manipulation. The updated law newly allows the confiscation of the assets used or offered to be used in stock manipulation schemes. Un

The chief of the National Pension Service, the country’s largest public pension fund, pledged Friday to take the lead in environmental, social and corporate governance investing, calling the fast-spreading global trend a must and not an option. “The NPS is fatefully engaged with the national economy. We now carry a more tremendous responsibility than ever. We have to play the role of a guide for Korea’s ESG, dubbed ‘K-ESG,’” Kim Yong-jin, the pension fund&rs

South Korean stocks closed in negative terrain on Friday as investors sold stocks to lock in profits. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.86 points, or 0.19 percent, to close at 3,156.42 points. Trading volume was moderate at about 787 million shares worth some 14.6 trillion won ($13 billion), with gainers outnumbering losers 674 to 189. Foreigners sold a net 135 billion won, while retail investors purchased 59 billion won.

South Korean stocks opened higher Friday on hopes for a quick economic rebound, backed by overnight gains on Wall Street and strong local exports data. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.77 points, or 0.85 percent, to 3,189.05 points in the first 15 minutes of trading. Stocks got off to a strong start, tracking a 1.77 percent gain on the tech-heavy Nasdaq Composite. The Dow Jones Industrial Average and the S&P 500 finished up 0.55 percent and 1.06 percent, re

Cryptocurrency markets continued to experience a sellout on Thursday, triggered by a combination of negative news including China’s latest regulations. According to CoinMarketCap, a market data tracker, some 900 trillion won ($794 billion) worth of cryptocurrency was lost within less than 24 hours as of Wednesday night. That is twice as much as Samsung Electronics’ market capitalization, which stood at 474 trillion won Thursday. The price of a bitcoin was around 51 million won

The planned redevelopment of Jwawon Shopping Center, the first mixed-use building in Seoul, has cleared another hurdle as state developer Korea Land & Housing Corporation was chosen to lead the project, local media reported on Thursday. Built in 1966 in Seodaemun-gu, the structure consists of retail shops and offices on lower floors and apartments on the top floor. Although it was graded with one of the lowest scores in a safety evaluation in March, which qualifies the dilapidated buildi

Despite adjustments in South Korea’s stock market since the nation’s main bourse crossed the 3,200-point mark this year, global investment banks JP Morgan and Morgan Stanley have painted a rosy outlook for the Kospi amid a solid corporate earnings forecast, reports showed Thursday. JP Morgan raised its yearly Kospi target to 3,500 from the previous estimate of 3,200, saying all sectors had recorded an earnings turnaround this year except for utilities. Especially considering the st

South Korean stocks opened lower Thursday as investor sentiment turned risk-averse over the US tapering jitters that stemmed from the latest Federal Reserve minutes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.99 points, or 0.38 percent, to 3,161.06 points in the first 15 minutes of trading. The KOSPI got off to a weak start amid foreign and institutional selling. Stocks fell tracking the US stock decline that was largely caused by the Federal Reserve's minutes suggesting

Bithumb Holdings, the operator of cryptocurrency exchange Bithumb, saw a surge in sales and net profit in the first quarter of 2021, its largest shareholder’s financial results showed on Tuesday. According to Vidente’s regulatory filings, Bithumb logged 250.2 billion won ($220 million) in sales in the first quarter this year, jumping 458 percent from the same period last year. Its net profit soared 876 percent to 222.5 billion won in net profit during the same period. The company&

Young generations behind the rise of ESG awareness in Korea, says NH-Amundi deputy CEO

South Korean stocks closed higher Tuesday, rebounding from a decline the previous session, on bargain hunting for tech and semiconductor shares. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 38.53 points, or 1.23 percent, to 3,173.05. Trading volume was moderate at 774.38 million shares worth some 13.71 trillion won ($12.07 billion), with gainers outnumbering losers 571 to 279. Foreigners sold a net 347.2 billion won, and retail in

Team Blind, the operator of anonymous social network platform Blind, has raised $37 million won in its latest funding round, picking up the pace to go public in the US stock market, the company said on Tuesday. Blind has more than 5 million users who spend an average of 40 minutes a day. In Korea, 85 percent of employees working for companies with 300 workers or more have joined the social media. In the US, the platform is often used as a venue to discuss workplace topics, such as job openi