South Korean stocks dipped almost 2 percent Thursday on massive foreign selling, generated by results of the Federal Open Market Committee (FOMC) meeting. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 53.51 points, or 1.71 percent, to close at 3,069.05 points. Trading volume was moderate at about 1.3 billion shares worth around 22.7 trillion won ($20.3 billion), with losers outnumbering gainers 768 to 114. Foreigners sold a net 1.6 tri

South Korean stocks opened sharply lower Thursday, taking a cue from overnight drops on Wall Street. The benchmark Korea Composite Stock Price Index fell 49.67 points, or 1.59 percent, to 3,072.89 in the first 15 minutes of trading. Foreign selling increased as the US Fed did not announce new measures to quicken the economic recovery. Overnight, the tech-heavy Nasdaq composite retreated 2.61 percent, with the Dow Jones Industrial Average and the S&P 500 closing down 2.05 percent and 2.57

South Korean brokerage firm KB Securities said Wednesday that it had completed the sale of a UK logistics facility, in which it jointly invested with LB Asset Management in 2017. The two Korean companies bought the facility through funds designed to invest in UK property assets in 2017. The exact investment amount for the acquisition was not unveiled at the time. KB Securities and LB Asset Investment sealed the sale deal of the facility in January. The facility is leased to UK supermarket ch

South Korean stocks slumped after a choppy session Wednesday, largely due to heavy foreign selling related to concerns over fiscal policy tightening in major financial markets. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.75 points, or 0.57 percent, to close at 3,122.56 points. Trading volume was moderate at about 905 million shares worth some 19.4 trillion won ($17.6 billion), with losers outnumbering gainers 574 to 293. Foreigner

South Korea’s state-run pension fund raked in over 58 trillion won ($52.6 billion) from stock investments last year amid a bullish run on the local stock market, data showed Wednesday. The total amount of shares that the National Pension Service holds in listed companies, of which it owns 5 percent or more, was worth nearly 181.3 trillion won as of Friday. The figure has soared over 57.68 billion won or 46.7 percent from the start of last year, according to corporate tracker CEO Score.

The price gap between high and low-priced apartments nationwide widened to the highest level in 12 years in December last year, showing deepening housing polarization in the country, according to data Wednesday.  Apartment prices of the top 20 percent group reached an average of 951.6 million won ($861,198) in December, soaring by more than 200 million won from a year earlier, the monthly housing price trend report released by KB Kookmin Bank showed. Meanwhile, prices of low-cost apartme

South Korean stocks opened nearly flat Wednesday as investors waited for the results of the US Federal Reserve's policy meeting. The benchmark Korea Composite Stock Price Index fell 1.4 points, or 0.04 percent, to 3,138.91 in the first 15 minutes of trading. Market bellwether Samsung Electronics lost 0.35 percent, while No. 2 chipmaker SK hynix shed 1.16 percent. Leading chemical firm LG Chem moved down 2.2 percent, but rechargeable battery maker Samsung SDI climbed 0.25 percent. Pharmaceuti

Total payments made on food delivery platforms Baedal Minjok and Yogiyo jumped 75 percent on-year in 2020 to reach a whopping 12.2 trillion won ($11 billion), according to retail market data tracker Wiseapp on Tuesday. The stunning growth is attributed to strong demand for food delivery services in line with the South Korean government’s strict social distancing measures and lockdowns to slow down the spread of the coronavirus pandemic. The payment volume on the two platforms stood at

South Korea’s tech-heavy Kosdaq rose above 1,000 points Tuesday for the first time in 20 years, before wiping out earlier gains in the afternoon. The secondary index inched up as much as 8.10 points to 1,007.40 points in the morning, for the first time since Sept. 14, 2000, then turned negative to close at 994.00 points, 0.53 percent lower than the previous day. The Kosdaq began at 1,000 points on July 1, 1996 and rose as high as 2834.40 points on March 10, 2000 before plummeting to 99

South Korean stocks dropped more than 2 percent Tuesday as foreign and institutional investors sought to cash in profits after the key stock index hit its all-time high the previous session. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 68.68 points, or 2.14 percent, to close at 3,140.31 points. Trading volume was high at about 860 million shares worth some 21.6 trillion won ($19.5 billion), with losers outnumbering gainers 639 to 239.

Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Tuesday it will raise 1 trillion won ($907 million) by listing its shares on the main bourse this year for its environment-friendly business. Hyundai Heavy said it will issue new shares equivalent to a 20 percent stake in the company to finance its eco-friendly business projects following the initial public offering on the Korea Exchange within this year. The shipbuilder said it plans to use the proceeds from the new share s

The chief of South Korea’s sole bourse operator on Tuesday pledged to strengthen pre-to-post management of short-selling -- a strategy of borrowing, selling and repurchasing stocks to return them to the lender -- and reform unfair systems and practices on the matter. The nation’s financial watchdog previously announced it would be resuming short-selling from March 16, after first introducing a temporary ban in March last year, as the pandemic impact rattled the stock market. Local p

South Korea's bourse operator said Tuesday it is willing to raise financial consumers' trust by strengthening monitoring of suspicious trading transactions and improving short selling regulations. The increase in the number of investors has raised people's standard for the local market, requiring a higher level of protection and fairness, Korea Exchange (KRX) Chairman Sohn Byung-doo said in an online press conference held in Seoul. "We are open to hearing different voices to reasonably ov

It will be another busy year for initial public offerings in South Korea as a slew of companies are rushing to debut on the local stock market amid a stock rally and strong appetite from retail investors, analysts said Tuesday. Companies ranging from bio, battery makers, fintech to games are set to go public in 2021, following a string of successful IPOs last year driven by ample liquidity. The IPO market in Asia's fourth-largest economy could raise a record amount of money this year, analysts

South Korean stocks opened lower Tuesday as foreign and institutional investors sought to cash in profits after the key stock index hit its all-time high the previous session. The benchmark Korea Composite Stock Price Index lost 12.9 points, or 0.4 percent, to 3,196.09 points in the first 15 minutes of trading. Samsung Electronics shed 1.01 percent, and No. 2 chipmaker SK hynix retreated 2.59 percent. Leading chemical firm LG Chem fell 0.61 percent, while rechargeable battery maker Samsung SD