South Korea’s first law specifically designed to protect cryptocurrency investors took effect on Friday, bringing the virtual asset industry within legal boundaries. The Virtual Asset User Protection Act aims to prevent unfair trading practices in the volatile crypto market, in response to how it was shaken by such incidents as the Terra-Luna crash and bankruptcy of crypto exchange FTX. The new law defines virtual assets as electronic tokens with economic value that can be traded or transf

Seoul shares got off to a weak start Friday on overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index fell 23.81 points, or 0.84 percent, to 2,800.54 in the first 15 minutes of trading. Overnight, Wall Street shares tumbled as a weeklong decline in tech and chip stocks expanded to other blue chips. The S&P 500 and Nasdaq composite dropped 0.78 percent and 0.7 percent, respectively, and the Dow Jones Industrial Average slumped 1.29 percent. In Seoul, most blue chips

Seoul shares retreated Thursday led by tech stocks over concerns that the United States may tighten chip sales to China. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) shed 18.67 points, or 0.67 percent, to close at 2,824.35. Trade volume was slightly heavy at 632.9 million shares worth 15.1 trillion won ($10.9 billion), with losers outnumbering winners 602 to 275. Foreign investors dumped local shares worth 381 billion won, while retail in

Korea’s exchange-traded fund market surpasses W150 tr in net assets

Seoul shares opened lower Thursday as most blue chips retreated following weak overnight trading on Wall Street. The benchmark Korea Composite Stock Price Index fell 2.17 points, or 0.08 percent, to 2,863.92 in the first 15 minutes of trading. Overnight, Wall Street underwent stagnant trading over concerns of potentially worsening trade tensions between the United States and China, with chip shares taking heavy beatings. The S&P 500 and Nasdaq composite dropped 1.3 percent and 2.6 percent, r

GN Food, the operator of Goobne Chicken, South Korea's leading roast chicken franchise, said Wednesday it has opened its first outlet in the Philippines as part of its expansion strategy. The first Goobne outlet in the Southeast Asian country is located in Bonifacio Global City, a central business district in Taguig, Metro Manila, the company said in a statement. GN Food has increased its overseas outlets to 40 in 11 countries, including Japan, China and the United States, since 2014, when

Seoul shares finished lower Wednesday as foreign investors locked in profits following a two-session winning streak despite overnight Wall Street gains. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 22.80 points, or 0.8 percent, to close at 2,843.29. Trade volume was slightly heavy at 534.4 million shares worth 13.6 trillion won ($9.85 billion), with losers outnumbering winners 460 to 409. Foreign investors dumped local shares worth 261.4 bil

Seoul shares opened lower Wednesday as investors locked in profits following a two-session winning streak despite overnight Wall Street gains. The benchmark Korea Composite Stock Price Index fell 2.17 points, or 0.08 percent, to 2,863.92 in the first 15 minutes of trading. Overnight, Wall Street shares rose on rising expectations for a rate cut by the Federal Reserve. The Dow Jones Industrial Average jumped 1.9 percent to hit a fresh high, while the S&P 500 and Nasdaq composite gained 0.2 pe

Seoul shares closed slightly higher Tuesday as traders were trying to digest the effect of Donald Trump's possible victory in the US presidential election on the market. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 5.17 points, or 0.18 percent, to close at 2,866.09. Trade volume was slightly heavy at 667.5 million shares worth 12.4 trillion won ($8.95 billion), with losers outnumbering winners 498 to 356. Foreign investors and instituti

Local cryptocurrency exchange operators are ramping up their regulatory measures as the introduction of the virtual asset user protection law nears in South Korea. On Tuesday, the Digital Asset Exchange Alliance, a body of five top local crypto exchange operators, introduced a guideline that advises exchanges to monitor abnormal transactions. It further released a revision of the guideline on the internal control standards of the exchange operators. The movement comes as the Act on the Protectio

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street buoyed by expectations for Donald Trump's victory in the US presidential election. The benchmark Korea Composite Stock Price Index rose 6.95 points, or 0.24 percent, to 2,867.87 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average jumped 0.53 percent to hit a fresh high, while the S&P 500 and Nasdaq composite rose 0.28 percent and 0.4 percent, respectively, following an assassination a

Seoul shares closed slightly higher Monday as investors digested the aftermath of the assassination attempt of former US President Donald Trump over the weekend. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 3.92 points, or 0.14 percent, to 2,860.92. Trade volume was moderate at 418 million shares worth 12 trillion won ($8.67 billion), with gainers outnumbering losers 491 to 381. Foreigners sold a net 80.7 billion won, while individuals offlo

Seoul shares opened nearly flat Monday as investors continued to cash in profits amid expectations over a rate cut by the Federal Reserve in September on the back of eased inflation. The benchmark Korea Composite Stock Price Index edged up 0.03 point to stand steady at 2,857.03 in the first 15 minutes of trading. On Friday, all three major US indexes gained ground amid growing hopes for the Fed's rate cut this year. In Seoul, top tech giant Samsung Electronics remained unchanged, while No.

Seoul shares closed lower Friday, snapping a rise for three consecutive sessions, as investors cashed in profits after the US market finished bearish despite slowing inflation data. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 34.35 points, or 1.19 percent, to 2,857. Trade volume was heavy at 399 million shares worth 13.7 trillion won ($9.93 billion), with losers outnumbering gainers 430 to 426. Foreigners sold a net 549 billion won, while i

Seoul shares opened lower Friday, tracking overnight losses on Wall Street after investors cashed in profits from major tech shares despite signs of cooling US inflation. The benchmark Korea Composite Stock Price Index shed 23.8 points, or 0.82 percent, to 2,867.55 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite plunged 1.95 percent, and the S&P 500 dipped 0.88 percent. The Dow Jones Industrial Average, on the other hand, increased 0.08 percent. The US inflatio