Samsung shares came under the market spotlight as the amount of inheritance tax was set at a record 11.03 trillion won ($9.96 billion) based on closing prices of the stocks on Tuesday. Among shares held by late Samsung chairman Lee Kun-hee are those of tech giant Samsung Electronics, IT solutions developer Samsung SDS, construction firm Samsung C&T, and insurer Samsung Life Insurance. According to the nation’s sole securities exchange operator Korea Exchange, the value of Lee&rsquo

South Korean stocks dipped more than 1.5 percent Tuesday after the benchmark index closed at an all-time high in the previous session, largely on concerns of the spreading COVID-19 cases at home and abroad. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 44.97 points, or 1.62 percent, to close at 2,733.68. Trading volume was high at about 1.2 billion shares worth some 19.6 trillion won ($17.7 billion), with losers outnumbering gainers 783

Stocks of SsangYong Motor halted trading starting Tuesday as the cash-strapped automaker is now under bankruptcy court supervision and has effectively been given a three-month grace period before it enters court receivership. Eyes are on whether SsangYong Motor to avoid the court-led rehabilitation proceedings by soliciting a new investor in that time. On Monday, SsangYong Motor said it had applied for an autonomous restructuring support program, when filing for bankruptcy to Seoul Bankruptcy

South Korean stocks opened lower Tuesday as investors are wary of COVID-19 that is spreading at home and abroad. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.24 points, or 0.3 percent, to 2,770.41 in the first 15 minutes of trading. Stocks got off to a weak start after the benchmark index closed at an all-time high the previous session. Global recovery hopes weakened over the new strain of the coronavirus in Britain, reportedly up to 70 percent more transmissible than the or

South Korean stocks closed at a record high Monday as pharmaceutical heavyweights posted strong gains amid the surging new coronavirus cases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.47 points, or 0.23 percent, to close at 2,778.65. Trading volume was high at about 1.1 billion shares worth some 18.7 trillion won ($17 billion), with gainers outnumbering losers 428 to 415. Foreigners sold a net 8 billion won, while institutions pu

South Korean stocks opened lower Monday on increased valuation pressure, after the benchmark index closed at an all-time high the previous session despite surging new coronavirus cases. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.18 points, or 0.15 percent, to 2,768.0 in the first 15 minutes of trading. Stocks got off to a weak start as foreigners and institutions are set to lock in gains as the country's soaring COVID-19 cases increased concerns of stronger social distancin

The local initial public offering market was all the rage in 2020 as nearly 300 trillion won ($272.9 billion) poured in, three times more than 2018 or 2019, according to industry data on Sunday. This year’s IPO market will come to a close with materials firm Sukgyung AT making its debut on Wednesday. Other than special-purpose acquisition companies and companies that merged with listed firms, a total of 76 companies were newly listed on the nation’s main Kospi and secondary Kosd

Government campaign to raise female representation sees progress, but more to be done

South Korean brokerage houses predicted the local stock market would continue its uptick move in 2021, citing signs of a global economic recovery and growing investor appetite for higher returns, data showed Sunday. Multiple securities companies set their upper-end target band for the benchmark Korea Composite Stock Price Index (KOSPI) above 3,000 points, showing greater confidence from a month ago. Between end-October and early November, brokerages had expected a band of 2,100-2,700 points,

South Korea’s sole bourse operator has named Sohn Byung-doo, former vice chairman of the Financial Services Commission, to take the new chief post of the Korea Exchange, according to the officials Friday. Sohn’s CEO appointment was approved by shareholders of the Korea Exchange, they added. Prior to the shareholders meeting, he was named as the single candidate for the position earlier this month. Sohn, 56, has had a 30-year career in the civil service. He worked at the Ministry

South Korean stocks rose slightly to reach a record high Friday, buoyed by optimism over US stimulus talks despite a spike in local COVID-19 cases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.75 points, or 0.06 percent, to close at 2,772.18. Trading volume was high at about 1.05 billion shares worth some 18.9 trillion won ($17.2 billion), with gainers outnumbering losers 491 to 342. Foreigners sold a net 192.4 billion won, while in

South Korean stocks opened slightly higher Friday, tracking overnight gains on Wall Street amid hopes of a new US stimulus deal and the possible rollout of US biotech company Moderna's COVID-19 vaccine in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.65 points, or 0.06 percent, to 2,772.08 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.49 percent to reach a record high of 30,303.37 points, while the Nasdaq composite al

The Korea Herald is publishing a series of special reports on the glass ceiling in the financial industry, focusing on South Korea’s market compared to other major economies. Funded by The Korea Press Foundation, the series will evaluate where Asia’s fourth-largest economy stands in terms of gender equality, reflect on changes being made, and explore ways to boost inclusion in the sector. -- Ed. The COVID-19 pandemic has been both an opportunity and a crisis for the world of financ

Financial regulator Financial Supervisory Service said Thursday that it has ordered online-only bank Kakao Bank to beef up its plans to deal with emergent situations, such as shortage of capital. The watchdog regularly assesses financial companies’ capital adequacy and risk management schemes, and it orders them to fix inefficient emergency measures if there is any. It was the first time for the online bank to be reviewed by the financial authority over its contingency plan. The nation&

South Korean stocks closed nearly flat Thursday as investors remained wary of spiking COVID-19 cases and looming virus restrictions. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.36 points, or 0.05 percent, to 2,770.43 points. Trading volume was moderate at about 998.4 million shares worth some 15.8 trillion won ($14.5 billion), with losers outnumbering gainers 493 to 352. Foreigners sold a net 301.1 billion won, and institutions off