South Korea's financial markets are likely to undergo further volatility as bond yields and inflation risks are rising amid hopes for an economic recovery, a vice finance minister said Tuesday. First Vice Finance Minister Kim Yong-beom warned that if US bond rates continue to rise, asset prices may suffer a decline, after their bull run caused by ample liquidity. "If US bond yields continue to rise, investors could turn risk-averse, which could spark a fall in asset prices and capital out

South Korean stocks opened lower Tuesday, tracking overnight tech losses on Wall Street that stemmed from concerns over post-pandemic inflation. The benchmark Korea Composite Stock Price Index fell 3.7 points, or 0.12 percent, to 2,992.41 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite dipped 2.41 percent, as yields of the US benchmark 10-year Treasury rebounded and finished just shy of 1.6 percent. In Seoul, top cap Samsung Electronics lost 0.61 percent,

As COVID-19 vaccination campaigns have picked up pace around the globe, South Korean drugmaker SK Bioscience has garnered keen attention from investors at home and abroad ahead of its market debut. The vaccines unit of the nation’s No. 3 conglomerate SK Group wrapped up its two-day book building Friday. While institutional investors placed bids to obtain new shares for the initial public offering, a total of 1,464 domestic and foreign institutions participated, according to investment ba

South Korean stocks fell under the 3,000-point threshold on Monday, as improved Chinese economic data and higher US bond yields stoked renewed concerns over rising inflationary pressure. The Korean won weakened against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 30.15 points, or 1 percent, to close at 2,996.11 points. Trading volume was moderate at about 1.9 billion shares worth some 15.5 trillion won ($13.7 billion), with losers outnumbering gainers 551 to 302.

South Korea’s largest airline, Korean Air, said Monday that it had successfully raised 3.3 trillion won ($2.9 billion) by issuing new shares. Of the funds raised through the latest capital increase, some 1.5 trillion won will be used to acquire domestic rival Asiana Airlines, according to the carrier. In the funding round, which ran from March 4 to 5, the right to buy the newly issued shares was given only to the firm’s existing shareholders and members of the employee stock owne

Korean investors holding some $8 billion worth of stocks in US electric vehicle maker Tesla appear to be unnerved after its recent stock price fall. According to the latest data from the Korea Securities Depository, Tesla was Korea‘s favorite foreign stock, holding a combined $8.1 billion worth of shares as of March 2. This was followed by US tech giants Apple, Amazon and Alphabet, the holding company of Google. In the past two months, Korean investors net bought $1.36 billion worth of

South Korean stocks opened higher Monday on improved Chinese economic data and slowing bond yield hikes in the United States. The benchmark Korea Composite Stock Price Index rose 9.39 points, or 0.31 percent, to 3,035.65 points in the first 15 minutes. Steel, financial and tech stocks led the KOSPI's hike, while retail and insurance traded bearish. Samsung Electronics added 0.37 percent, and No. 2 chipmaker SK hynix advanced 0.36 percent. Leading chemical firm LG Chem retreated 1.11 perce

Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a third consecutive month, data showed Monday. Foreigners sold a net 3.24 trillion won ($2.87 billion) worth of local stocks in February, according to the data from the Financial Supervisory Service (FSS). American investors sold a net 1.37 trillion won of stocks last month, while investors from the Cayman Islands net purchased 840 billion won worth of stocks, according to the FSS. As o

Woori Financial Group plans to issue environmental, social and governance hybrid bonds in South Korean won after gaining top credentials, the company said Sunday, joining a growing list of investment firms tapping into the fast-growing market. The financial company said it plans to issue ESG bonds in the form of hybrid securities after acquiring ST1, the highest grade for sustainable financing in a five-tier grading system, from Korea Ratings, a credit rating company. Woori plans to decide the

South Korea marked the eighth-highest rate of growth in the number of individuals with ultrahigh net worth, recent data compiled by a global property consultancy showed Sunday. The number of ultrawealthy people in Korea -- those with net assets worth $30 million or more -- increased by 6.3 percent on-year to 7,354 in 2020, according to the annual wealth report released by Knight Frank. The number of people around the globe at the same standard of net wealth rose by 2.4 percent on-year to 521,6

South Korea‘s stock market narrowed down losses in the early morning session on Friday as retail trading has nearly offset lingering bond yield concerns in the United States. The Korea Exchange’s main board Kospi shed 0.6 percent to close at 3,026.26 points, as Kospi was down 2 percent in early morning trade. The development board Kosdaq inched down 0.3 percent in closing, reducing from 2 percent in the morning. Retail investors here continued to be active in trading. On Friday, l

South Korean stocks opened lower Friday on overnight Wall Street losses, as investors were disappointed by the absence of comments from the US Federal Reserve to help stave off inflation concerns. The benchmark Korea Composite Stock Price Index fell 39.41 points, or 1.29 percent, to 3,004.08 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite dipped 2.11 percent as yields of the US benchmark 10-year Treasury surged above the 1.5-percent threshold. In Seoul, t

South Korean conglomerate SK Group will set up a company to run a real estate investment trust, or REIT, this month, according to reports Thursday. A REIT owns or finances real estate property to generate income, and allows investors to partially own valuable real estate and receive dividends. SK Holdings, the holding company of SK Group, is expected to obtain approval to establish the REIT later this month. After setting up a new subsidiary as early as this month, it will likely launch a RE

Consulting firm McKinsey & Company on Wednesday said they have hired Park Joong-ho, former head manager of Oliver Wyman’s Korea office, as a new partner here. Park worked at Oliver Wyman, a consulting firm specialized in financial services companies, for 15 years and led the company for more than three years until December 2020.  At Oliver Wyman, he provided consulting services to financial institutions and governmental organizations in areas such as digital transformation, glo

South Korean stocks snapped its two-day winning streak Thursday as investor sentiment weakened over concerns of increasing US Treasury yields. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 39.5 points, or 1.28 percent, to close at 3,043.49 points. Trading volume was moderate at about 1.3 billion shares worth some 16.8 trillion won ($14.9 billion), with losers outnumbering gainers 505 to 358. Foreigners sold a net 928 billion won, w