Credit card issuer KB Kookmin Card said Monday that it has completed the acquisition of a controlling stake of J Fintech, a Bangkok-based loan provider, speeding up the pace to infiltrate the Southeast Asian market. With the latest takeover, the credit card business becomes the first South Korean company to make an official entry to the Thai lending industry. The card company invested 24 billion won ($21.4 million) to acquire the 50-pecent stake in the Thai lender, while the remaining 50 pe

Accommodation booking platform operator Yanolja announced Monday that it has appointed a new chief investment officer to lead the discovery of new growth engines. The newly named CIO, Choi Chan-seok, is a seasoned expert in mergers and acquisitions and investor relations. While leading investment and M&A deals at mobile gaming firm Netmarble, he played a key role in acquiring water purifier rental firm Coway and US mobile game developer Kabam, and helped the game company to invest in both

South Korean stocks closed back over the 3,000-point threshold Monday, led by foreign and institutional buying and strong advances by bio shares. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 80.32 points, or 2.7 percent, to close at 3,056.53 points. Trading volume was high at about 958 million shares worth some 20.5 trillion won ($18.4 billion), with gainers outnumbering losers 710 to 156. Foreigners bought a net 131 billion won and

Amateur share traders, who defended the market from a massive selloff by established investors, injected nearly half of last year’s investments in January, but their performance remained in negative territory, data showed Monday. According to the Korea Exchange, individual investors net purchased Kospi-listed stocks worth 22.34 trillion won ($19.97 billion) and 3.51 trillion-won worth of shares from the secondary Kosdaq market. The net buying figures, when combined, are equivalent to 40 p

Forty-five companies, which first went public via South Korea’s tech-heavy Kosdaq market, saw at least a threefold surge in market valuation after they transferred to the nation’s main bourse market since 2000, data showed Monday. Of the 45 companies transferred to Kospi, 42 firms progressed with a combined market capitalization of 206.57 trillion won ($184.89 billion) as of Friday, jumping from 65.77 trillion won logged 20 years ago, according to the Korea Exchange. The three disap

South Korean stocks opened higher Monday, led by strong pharmaceutical gains. The benchmark Korea Composite Stock Price Index rose 15.35 points, or 0.52 percent, to 2,991.56 in the first 15 minutes of trading. Top cap Samsung Electronics slipped 0.12 percent, and No. 2 chipmaker SK hynix retreated 1.22 percent. Pharmaceutical giant Samsung Biologics added 1.64 percent, and Celltrion jumped 6.64 percent. Leading chemical firm LG Chem moved up 0.55 percent, and rechargeable battery maker Sam

South Korea’s top financial regulator is likely to extend the temporary ban on short selling by institutional and foreign investors until as late as June, as it plans to establish a system that would enable individual investors to short sell stocks around that time, market officials said Sunday. At a Jan. 25 meeting, the Financial Services Commission reportedly encouraged working-level officials from stock brokerage firms to pick up the pace to set up the short selling system for retai

South Korean investors were net sellers of US-based video game retailer GameStop solely on the day when the short squeeze started to materialize, data showed Sunday. Korean investors -- both individuals and corporations -- net sold GameStop shares worth $54 million on Tuesday, according to the latest data from the Korea Securities Depository. Trading data from Wednesday, when GameStop‘s share price peaked, was not available as the foreign securities settlement date is three business days

South Korean retail investors snapped up a net 25.8 trillion won ($23 billion) worth of local stocks in January alone, data showed Sunday, in the latest sign of their relentless buying spree. Individual investors bought a net 22.3 trillion won worth of stocks in the main market and a net 3.5 trillion won of shares in the secondary-KOSDAQ market in January, according to the data compiled by the bourse operator Korea Exchange. The figure amounted to 40 percent of their total net stock purchases,

South Korean stocks are likely to come under selling pressure next week following this week's choppy trading, as market volatility is expected to remain high over massive foreign selling and profit-taking. The benchmark Korea Composite Stock Price Index closed at 2,976.21 points Friday, down 5.24 percent from a week ago. The index crashed below the 3,000-point level for the first time since surpassing the psychologically important threshold on Jan. 7. The fall was largely attributed to for

Retail investors hell-bent on watching stocks go up have made life miserable for short sellers around the world. In South Korea, the government is piling on too. Lawmakers who oversee the country’s $2 trillion stock market are discussing plans to extend one of the world’s longest bans on short selling, amid pressure from mom-and-pop punters who drive more than two thirds of daily trading. Calls to make the 10-month ban permanent are mounting. More than 203,000 people have signed a

South Korea’s stock markets fell for four consecutive sessions on Friday, driven by foreign investors‘ sellout. The benchmark Korea Composite Stock Price Index began the day in positive territory but fell below 3,000 points for the first time since Jan. 6 when it recorded 2,976.21 points. The index plunged 3.03 percent, or 92.84 points, to 2,976.21 points on Friday, marking the largest daily decline since Aug. 20, 2020. Foreign and institutional investors sold a net of 1.43 tri

The South Korean benchmark stock index plunged below the 3,000-point threshold Friday on massive foreign dumping, largely generated by valuation concerns over local stocks and a liquidity squeeze in China. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 92.84 points, or 3.03 percent, to close at 2,976.21 points, registering the largest daily loss since Aug. 20 last year. Trading volume was high at about 972 million shares worth some 23.8

LG Energy Solution Ltd. has picked the lead managers for its listing on the Seoul bourse after a spin-off from its parent LG Chem Ltd., according to industry sources, which is expected to be one of this year's mega IPO deals. The battery unit wholly owned by LG Chem Ltd. has named KB Securities and Morgan Stanley as the lead managers for its IPO and also selected five brokerages, including Shinhan Investment Corp. Daishin Securities Co., as bookrunners for the IPO, according to them. "The

South Korean shares rebounded Friday due to bottom-fishing, led by tech and chemical advances. The benchmark Korea Composite Stock Price Index (KOSPI) rose 13.88 points, or 0.45 percent, to 3,082.93 in the first 15 minutes of trading. The key stock index rebounded after losing 4.4 percent in total in the past three sessions, as investors speculate a stock price hike in the volatile markets. Market bellwether Samsung Electronics added 0.96 percent, with No. 2 chipmaker SK hynix gaining 2.85 pe