South Korean activist private equity fund KCGI on Tuesday lashed out at Korean Air's plan of acquiring its rival Asiana Airlines with the policy lender’s help, claiming that the scheme is being pursued to cement Hanjin KAL chairman Cho Won-tae’s control over the air carrier. Hanjin KAL is the holding company of Hanjin Group, which owns Korean Air. “The state-run Korea Development Bank’s pledge to finance the acquisition in advance helps the Hanjin KAL chairman complete t

Rising stock prices means more inheritance tax, experts say

South Korean shares snapped their two-day gains Tuesday after hitting a nearly three-year high the previous session, as valuation pressure offset optimism over Moderna's experimental COVID-19 vaccine. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 3.88 points, or 0.15 percent, to close at 2,539.15. Trading volume was high at about 1.2 billion shares worth around 17.5 trillion won ($15.8 billion), with losers outnumb

South Korean shares opened flat Tuesday after hitting a nearly three-year high the previous session, as valuation pressure offset optimism over Moderna's experimental COVID-19 vaccine. The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.1 point to 2,542.93 in the first 15 minutes of trading. Stocks traded choppy after a 1.97 percent gain the previous session. Valuation pressure, along with the unrelenting coronavirus toll, increased investor caution. Market bellwether Samsung Elec

The stock value of Lee Kun-hee, the late chief of South Korea's top conglomerate Samsung Group, has surpassed the 20 trillion won mark for the first time thanks largely to a surge in shares of tech giant Samsung Electronics Co., data showed Tuesday. The value of stocks held by Lee, who died on Oct. 25 after being bedridden following a heart attack in 2014, totaled 20.08 trillion won ($18.1 billion) as of Monday, according to the data from market researcher Chaebol.com. It was up about 14 perce

South Korean stocks surged to a nearly three-year high Monday despite the spreading coronavirus woes, buoyed by a rally in chipmakers and vaccine hopes that fueled investor appetite for risky assets. The Korean won rose to the highest in nearly two years against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 49.16 points, or 1.97 percent, to close at 2,543.03. The reading marks the highest closing since 2,568.54 points on Feb. 1, 2018. Trading volume was high at a

More than 100,000 residential units likely to be supplied in Seoul and surrounding areas

Samsung Electronics shares hit all-time high, up more than 17 percent in Nov.

South Korean stocks opened sharply higher Monday on strong advances by chip and auto heavyweights, despite concerns over the spreading coronavirus pandemic in the global markets. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.86 points, or 0.88 percent, to 2,515.73 in the first 15 minutes of trading. Investor sentiment remained strong in the wake of the vaccine rally that elevated the KOSPI to an over 2-year high and the S&P 500 to a pre-pandemic high. The strong local c

Since the election of Joe Biden as the US president earlier this month, South Korean investors have rushed to purchase stocks of electric vehicle producers in the US that are expected to gather momentum during the new presidency, data showed Sunday. From Nov. 9 to 13, after Biden’s victory started becoming clear, domestic investors bought a combined $96.63 million worth of stocks for electric vehicle makers, including Xpeng Motors and Tesla. Among the EV companies and other US stocks i

Shinhan Bank said Sunday said it would collaborate with Microsoft Korea in building and operating its new research and development platform. On Friday, the two companies signed a strategic partnership for Shinhan’s Expace -- a combination of “experience” and “space” -- which will allow the bank’s digital team to work with fintech companies, startups and other innovative firms to develop and test cutting-edge financial services and technology. Expace’s

Financial conglomerate aims to be carbon neutral by 2050, bolstering investment in renewable energy

Korean brokerage firm Mirae Asset Daewoo has been included in the Dow Jones Sustainability World Index for the ninth consecutive year in recognition of its sustainable efforts for environmental, social and governance, or ESG, causes, the company said Sunday. The Dow Jones Sustainability World Index, the longest-running global sustainability benchmark, provides information about companies’ sustainable business practices as reflected in their investment portfolios. Launched in 1999, it curr

South Korea’s sole bourse operator Korea Exchange and S&P Dow Jones Indices are set to launch a new index Monday that gauges the contributions of companies in reducing carbon emissions in line with the Moon Jae-in administration’s “Green New Deal” initiative, one of the key pillars of its economic stimulus package, the officials said Sunday. The KRX/S&P Carbon Efficiency Green New Deal Index aims to persuade local companies to put greater effort into cutting carb

South Korean stocks closed at a nearly two-year high Friday on advances in chipmakers, backed by massive foreign buying amid the resurgence of the new coronavirus around the globe. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.25 points, or 0.74 percent, to close at 2,493.87 points. Trading volume was high at about 1.1 billion shares worth some 16.8 trillion won ($15.1 billion), with losers outnumbering gainers 530 to 299. "Tod