Cryptocurrency Bitcoin remained on an upward trend Monday, after crossing the 30 million-won ($27,300) mark for the first time in the South Korean market over the weekend. Hitting a high of 30.59 million won, the digital coin traded above the level of 30 million won throughout morning trading, according to Upbit, a cryptocurrency exchange run by financial technology firm Dunamu. The price of one bitcoin came in at an all-time high of 31.8 million won on Sunday. Early this year, the digital c

The share price of Samsung Electronics on South Korea’s stock market has reached an unprecedented high yet again, surpassing 80,000 won ($73) during intraday trading Monday. Hitting 80,100 won per share in the early morning trade, Samsung Electronics rose 1.2 percent to close at 78,700 won -- the highest closing price since a 50-to-1 stock split in 2018 -- bringing its market cap to a new high of 469.8 trillion won. This accounted for over 24 percent of all 906 constituents of the Kospi,

South Korean stocks set a new record high Monday, backed by a fresh US stimulus deal and eased uncertainties from Brexit. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.74 points, or 0.06 percent, to close at 2,808.6. Trading volume was high at about 978 million shares worth some 23.6 trillion won ($21.5 billion), with losers outnumbering gainers 530 to 315. The index extended its all-time high for a second straight session on strong

Asian stocks and credit bonds are forecast to remain bullish next year amid a recovering global economy due to the COVID-19 vaccine progress, according to a Standard Chartered Bank Korea report Monday.  “Global economic activity, which has been halted by the COVID-19 pandemic, will normalize next year thanks to the vaccine distribution,” the bank‘s report said in regards to 2021 financial market prospects.  “As the global economy is expected to rebound, risky

Investment advisory firms in South Korea swung to a profit in the first half of fiscal 2020 as the local stock market remained bullish, data showed Monday. The 215 investment advisers reported a combined net profit of 128.3 billion won ($117 million) in the April-September period, according to the data from the Financial Supervisory Service (FSS). It marks a sharp turnaround from a total net loss of 22.7 billion won recorded during the previous six months. The financial watchdog attributed th

South Korean stocks opened higher Monday, backed by strong advances by major tech firms. The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.87 points, or 0.6 percent, to 2,823.73 in the first 15 minutes of trading. Stocks traded bullish after finishing at an all-time high the previous session, led by chip and bio advances. The gain came amid investors' optimism over whether the United States, one of South Korea's largest trading partners, would finalize a coronavirus stimulus pac

Market watchers forecast Kospi to move in 2,700-2,780 range in last week of 2020 trade

Fried chicken franchises marked the largest on-year sales increase last year on growing demand for takeout and delivery, data showed Thursday. According to Statistics Korea, fried chicken franchises saw their sales jumping 21.7 percent in 2019, with each branch selling about 200 million won of products and services on average. “Increased chicken prices, along with the inclusion of delivery fees in chicken prices, have boosted the overall revenue in the segment,” said Lee Jin-seok

South Korea‘s stock market hit a new all-time high Thursday as the Korea Exchange’s main board Kospi crossed the 2,800 mark on massive institutional buying of chip shares. The Kospi rose 1.7 percent to 2,806.86 on Thursday, pushing its total market cap to reach 1,936.5 trillion won ($1.8 trillion). Kospi crossing the 2,800 mark came three weeks after it passed the previous threshold of 2,700 on Dec. 4, which was then a fresh high. Institutions net purchased 628.2 billion won worth

South Korean stocks broke the 2,800 mark for the first time Thursday to close at an all-time high, as the country's additional deals to purchase COVID-19 vaccines boosted hopes for a faster-than-expected economic recovery. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 47.04 points, or 1.7 percent, to close at 2,806.86. Trading volume was moderate at about 1 billion shares worth some 20 trillion won ($18.1 billion), with gainers outnumbe

Shinhan Financial Group has approved a merger of its two wholly-owned life insurer subsidiaries -- Shinhan Life Insurance and Orange Life Insurance -- into a single entity next year, filings showed Thursday. As a result of the move, Orange Life, formerly the Korean arm of Amsterdam-based ING Group, will be merged into Shinhan Life. The two firms’ combined valuation exceeded 4 trillion won ($3.6 billion), according to the filings. Orange Life‘s 82 million shares will be converted i

South Korean stocks opened higher Thursday as South Korea's deals to buy COVID-19 vaccines boosted investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.49 points, or 0.81 percent, to 2,782.31 in the first 15 minutes of trading. Prime Minister Chung Sye-kyun said the country has signed deals to purchase COVID-19 vaccines from US pharmaceutical giant Pfizer and Johnson & Johnson's Janssen. The government plans to offer shots of Janssen's vaccine in the second

South Korean stocks rebounded by almost 1 percent Wednesday after the previous session's plunge, backed by strong advances by tech giants. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.14 points, or 0.96 percent, to 2,759.82. Trading volume was high at about 1.1 billion shares worth some 19.9 trillion won ($18 billion), with losers outnumbering gainers 491 to 360. Foreigners bought a net 83 billion won, snapping a four-session

The growing number of small businesses, including restaurants and mom-and-pop stores closing down their operations amid the lingering coronavirus crisis, has seriously affected commercial real estate markets as well, a report said Wednesday. The report published by KB Financial Group suggested that commercial property markets will continue to suffer next year, along with hotel, commercial space rental, and retail businesses, among others, facing serious challenges. The number of vacant commer

South Korean stocks opened higher Wednesday, backed by strong advances by giant tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.59 points, or 0.53 percent, to 2,748.27 in the first 15 minutes of trading. The index rebounded after a 1.6 percent plunge the previous session, as optimism for a better corporate environment next year pushed up tech stocks. On Wall Street, the tech-heavy Nasdaq composite advanced 0.51 percent, while the Dow Jones Industrial Average close