SOCIAL CONTRIBUTION / KOREA INVESTMENT AND SECURITIES

CONTACTLESS FINANCE / KAKAO BANK

GLOBAL FRONTIER / MIRAE ASSET DAEWOO

Cryptocurrency bitcoin plunged Thursday night after a weekslong rally, while other crypto coins also posted double-digit percentage declines. The precipitous fall raised the alarm about aother epic bust, like the one three years ago. The bitcoin price slid as much as 12.25 percent to $16,374, before settling at $17,226, down 7.69 percent, according to Dunamu, operator of local cryptocurrency exchange Upbit. The price of bitcoin soared near a record high of $19,511 in the early Thursday tradi

South Korea is likely to see its household savings reach their highest level in more than two decades, as the prolonged COVID-19 pandemic has driven people away from consumption and investment, central bank data showed Sunday. A high level of savings may be seen as a positive economic indicator, but may also be cause for alarm over sluggish consumption and negative market sentiment. Through its monthly research statistics report, the Bank of Korea suggested that the country’s househol

While South Korea’s main bourse has been hitting all-time highs, the country’s stock market also set records in November on the back of an extended buying spree y foreign investors’ Following this month’s rally, both market watchers and investors are keeping a close watch on whether the market will sustain its momentum throughout the year. According to the nation’s sole bourse operator, the Korea Exchange, Sunday, the benchmark Kospi on Friday closed at 2,633.45, u

The number of apartments in Seoul purchased by South Koreans below the age of 30 more than doubled on-year in the first 10 months of this year, data from the Korea Appraisal Board showed Sunday. Though Seoul apartment transactions for people in all age groups increased noticeably in the same period, those in their teens and 20s bought 29,287 new homes in the January-October period, compared with 14,809 homes last year, data showed. People under 30 bought some 40 percent of all apartments purc

South Korean stocks hit another fresh record high Friday on recovery hopes despite soaring new coronavirus cases. The Korean won surged to an over 29-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.54 points, or 0.29 percent, to close at 2,633.45. Trading volume was moderate at about 1.2 billion shares worth some 12.4 trillion won ($11.2 billion), with gainers outnumbering losers 488 to 332. Foreigners bought a net 77 billion won, and retail in

South Korean stocks opened nearly flat Friday after the benchmark index hit an all-time high the previous session amid the soaring new coronavirus cases.  The Korea Composite Stock Price Index rose 0.37 point, or 0.01 percent, to 2,626.28 in the first 15 minutes of trading. Stocks got off to a muted start, as soaring COVID-19 cases and valuation pressure left investors questioning the index's short-term peak.   Large caps traded mixed in Seoul. Market behemoth Samsung Electr

South Korean President Moon Jae-in greeted Chinese Foreign Minister Wang Yi at Cheong Wa Dae on Thursday and stressed that his administration won't cease the drive for lasting peace on the peninsula. "Our government will not stop efforts to put a (formal) end to war on the Korean Peninsula and achieve complete denuclearization and permanent peace together with the international community, including China," Moon told Wang at the start of their meeting, which pool reporters were allowed

South Korean stocks closed at a fresh all-time high Thursday as the central bank's revised growth forecast boosted investor sentiment, despite an eight-month high in daily virus cases here. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 24.37 points, or 0.94 percent, to close at 2,625.91 points. Trading volume was moderate at about 1.4 billion shares worth some 12.5 trillion won ($11.3 billion), with gainers outnumbering losers 433 to 3

Korea Investment Management, a fund operating under Korea Investment Holdings, has launched its first Vietnam leverage exchange-traded fund on South Korea’s main bourse, the Kospi, on expectations of a rally in Vietnamese stocks, the company said Thursday. The KINDEX Vietnam VN30 Futures Leverage (H) ETF tracks VN30 Futures. Launched in 2017, VN30 Futures are the Southeast Asian country’s first tradable stock index futures.　 It uses the Bloomberg VN30 Futures index to provide inves

CU provided details Thursday on plans to allow foreign currency exchange at its convenience stores early next year. BGF Retail, the operator of the convenience store brand, has signed a partnership with a local fintech startup U Fintech Hub, which provides a small overseas remittance service, in a step to launch foreign currency exchange service at its local branches, they said. Under the deal, the retail giant will receive technical support from the fintech firm to develop the service platf

South Korean stocks opened slightly lower Thursday, taking a cue from overnight losses on Wall Street over disappointing US economic indices. The benchmark Korea Composite Stock Price Index fell 0.94 point, or 0.04 percent, to 2,600.6 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.58 percent to 29,872.47 points on an increase in weekly US jobless data, weakening hopes for a quick recovery from the pandemic. The Nasdaq composite gained 0.48 percent,

Customs chief says Korean companies can gain competitive edge on global stage via certification