Coupang ends first-day trading at $49.25, up 41% from IPO price

Major South Korean card issuer Woori Card Co. said Friday it has floated $200 million worth of environment, social and governance (ESG) bonds in Taiwan to help support small member stores. The five-year Formosa bonds carry an annual interest rate equal to the yield on five-year US Treasurys plus a spread of 1 percent, and will be listed simultaneously on the Singapore Exchange and the Taipei Exchange. Formosa refer to bonds issued in Taiwan but denominated in a currency other than the Taiwanes

South Korean stocks opened higher Friday as investor sentiment was boosted by the passing of the$1.9 trillion US stimulus package and the European Central Bank's move to slow the early rise in long-term borrowing costs.  The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.5 points, or 1.01 percent, to 3,044.2 points in the first 15 minutes of trading. Samsung Electronics added 1.1 percent, and No. 2 chipmaker SK hynix added 2.19 percent. Top automaker Hyundai Motor moved up

Bitcoin, the world’s most popular cryptocurrency, surpassed the 65 million won ($57,200) level once again Thursday, continuing a rally that started earlier this week. The digital coin, which has been on an upward trend since March 7, hit 65.15 million won Thursday morning, according to crypto exchange operator Upbit. It is the cryptocurrency’s second-highest level, after the historic high of 65.98 million won recorded Feb. 20. On Bithumb, a local crypto trading platform, one bi

South Korean stocks bounced back nearly 2 percent to recover above the 3,000-point threshold Thursday as foreign buying increased amid eased inflation concerns. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 55.58 points, or 1.88 percent, to close at 3,013.7 points. Trading volume was moderate at about 1.3 billion shares worth some 15.8 trillion won ($13.9 billion), with gainers outnumbering losers 664 to 193. Foreigners bought a ne

S. Korean e-commerce to raise $4.55b in biggest US IPO this year

Foreign investors remained net sellers of South Korean equities in February, extending their selling spree for a third consecutive month, the central bank said Thursday. Foreigners sold a net $2.86 billion worth of local stocks last month, compared with net selling of $2.39 billion in January, according to the Bank of Korea (BOK).   Offshore investors, however, remained net buyers of Korean bonds worth $8.99 billion last month, the BOK said. Meanwhile, volatility in South Korea's

South Korean stocks opened higher Thursday on eased inflation concerns. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.93 points, or 0.91 percent, to 2,985.05 points in the first 15 minutes of trading. The KOSPI rebounded after losing ground for the fifth session in a row as foreigners and individuals bought on bottom fishing. The yields of the benchmark 10-year US Treasury stabilized just above the 1.5 percent mark, soothing investor concerns over fast post-pandemic inflat

South Korean investors have showed heated interest in the imminent market debut of SK Bioscience as they poured nearly 64 trillion won ($56.06 billion) of deposits in the two-day public subscription period for the local vaccine maker’s stocks. Reflecting investors’ thirst for financial income and high market liquidity, retail traders bought about 63.62 trillion won in deposits by the deadline at 4 p.m. on Wednesday. The amount surpassed not only one of the last year’s biggest

South Korean stocks fell for the fifth consecutive session Wednesday, led by a decline in techs and autos, as foreigners and institutions attempted to lock in profits amid lingering concerns of inflation. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 18.00 points, or 0.60 percent, to close at 2,958.12, after rising as high as 3,013.95 points. Trading volume was moderate at about 887.07 million shares worth around 1

Coupang Inc., parent company of South Korean e-commerce giant Coupang Corp., has raised its initial public offering target price range of $32 to $34 apiece, according to a regulatory filing submitted to the US Securities and Exchange Commission on Tuesday. With the revised range, Coupang looks to raise its proceeds by 16 percent more than previously anticipated. The earlier prospectus submitted on March 1 showed the shares were marketed at $27 to $30. As it has planned to offer 120 million sh

South Korean stocks opened sharply higher Wednesday, tracking overnight gains on Wall Street led by tech shares on eased inflation concerns. The benchmark Korea Composite Stock Price Index (KOSPI) rose 36.3 points, or 1.22 percent, to 3,012.42 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite surged 3.7 percent to 13,073.82, its largest one-day gain since Nov. 4, after the yield on the US 10-year Treasury note fell. The S&P 500 advanced 1.4 percent to 3,

Rumors of stake sale to local cryptocurrency exchange resurface

South Korean stocks slumped for a fourth consecutive session Tuesday amid growing concerns over post-pandemic inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 19.99 points, or 0.67 percent, to close at 2,976.12 points. Trading volume was moderate at about 1.5 billion shares worth around 18 trillion won ($15.8 billion), with losers outnumbering gainers 570 to 276. Foreigners sold a net 642 billion won, while retail investors pur

South Korean companies have issued a combined 12.9 trillion won ($11.3 billion) worth of green, social and sustainability bonds from January to February, data showed Tuesday. In the first two months of 2021, social bonds accounted for nearly two-thirds of the total issuance of bonds aligned with ESG factors, followed by green bonds and sustainability bonds -- a hybrid of green and social -- according to data by the Korea Financial Investment Association. In February alone, Korean firms floate