Seoul stocks rallied Monday ahead of the upcoming US presidential election and the Federal Open Market Committee (FOMC) meeting. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 33.01 points, or 1.46 percent, to close at 2,300.16. Trading volume was moderate at about 665 million shares worth around 8.4 trillion won ($7.4 billion), with gainers outnumbering losers 683 to 165. Foreigners bought a net 49 billion won, and institutions purchas

Members of the bereaved Samsung ownership family are expected to see major net worth boosts, as the late Chairman Lee Kun-hee left behind massive amounts of stocks they -- including heir apparent Lee Jae-yong -- stand to inherit, data showed Monday. Late Chairman Lee’s personal fortune in the form of stocks -- subject to a handover to the families -- was worth a combined 17.7 trillion won ($15.6 billion) as of Thursday’s market closing, according to data from financial market infor

Seoul stocks opened higher Monday ahead of the upcoming US presidential election and the Federal Open Market Committee (FOMC) meeting. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.37 points, or 0.33 percent, to reach 2,274.52 in the first 15 minutes of trading. Stocks got off to a strong start after the previous session's 2.56 percent plunge. Amid the global COVID-19 resurgence and the US election uncertainties, investors pinned hopes for a dovish signal from the FOMC, whic

Despite lingering uncertainty over virus resurgence and US election, retail investors still betting on market recovery

South Korean shares are likely to face high volatility in the coming week, with key political developments, including the US presidential election and new coronavirus outbreaks, expected to roil global financial markets, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,267.15 points on Friday, down 3.97 percent from a week ago. Local analysts said the KOSPI could receive an upward push in the coming week from hopes for third-quarter earnings hikes a

NH NongHyup Bank said Friday that it has partnered with Naver Cloud Platform to use a public cloud system to operate its mobile-based financial services, becoming the first company in the local banking industry to do so.   Under the partnership, the lender will employ a financial public cloud system offered by NCP -- the cloud affiliate of South Korea’s leading internet portal operator, Naver -- when running its own mobile banking application All One Bank, which offers savings and d

South Korean shares plunged more than 2.5 percent Friday, as major tech giants suffered a slump from massive foreign sell-offs. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 59.52 points, or 2.56 percent, to close at 2,267.15. Trading volume was high at about 775 million shares worth some 11.5 trillion won ($10.1 billion), with losers outnumbering gainers 753 to 123. Stocks widened losses following a weak start, led by a retreat in

South Korean shares opened lower Friday despite the overnight Wall Street rebound, as major tech giants suffered a slump. The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.33 points, or 0.49 percent, to 2,315.34 in the first 15 minutes of trading. Stocks came to a weak start, led by top cap tech losses. Pharmaceutical heavyweights that posted stellar gains the previous session also retreated on profit-taking. The Dow Jones Industrial Average rebounded by 0.52 percent to 26,659

SK Biopharmaceuticals and SK Global Chemical are likely to be included on the MSCI Korea Index next month, market watchers said Thursday. But Big Hit, the local entertainment agency behind K-pop sensation BTS, is seen as unlikely to make the cut. The Geneva-based MSCI is set to announce the results of its semiannual index review Nov. 11. Other South Korean companies, including Hanmi Science, Doosan Heavy Industries & Construction and Genexine, could also join the index, while Posco Interna

South Korean subsidiaries of foreign banking groups, online giants and daily necessities makers made the annual list for the 10 best companies working toward gender equality among the country’s 500 largest firms, data showed Thursday.  This year’s awarded firms comprised foreign-based lenders Citibank Korea and Standard Chartered Bank Korea, leading local internet firms Naver and Kakao, cosmetics giant Amorepacific, outdoor clothing manufacturer Yongone Corp., LG Group a

South Korean stocks closed lower Thursday on foreign and institutional selling as new coronavirus outbreaks in major global economies continued to surge at an alarming rate. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.59 points, or 0.79 percent, to close at 2,326.67. Trading volume was moderate at about 488 million shares worth some 10.1 trillion won ($8.9 billion), with losers outnumbering gainers 641 to 221. The KOSPI started ou

South Korean shares opened sharply lower Thursday on an overnight Wall Street plunge, as the new coronavirus outbreaks in the major global economies continued to surge at an alarming rate. The benchmark Korea Composite Stock Price Index (KOSPI) fell 25.96 points, or 1.11 percent, to 2,319.3 in the first 15 minutes of trading. Investor sentiment grew risk-averse, as a resurgence in virus cases in the United States and Europe raised concerns that the worsening pandemic may deliver heavy damage

The monthslong coronavirus pandemic has affected much of South Korean society, and the sports sector is one of many that has felt the brunt of the crisis. Athletes in nearly all sports play in empty stadiums, while others have had their seasons canceled.  Aiming to reignite fans’ passion for volleyball amid the pandemic, the Hyundai Capital Skywalkers, owned by auto financing firm Hyundai Capital, recently organized an online event to show fans around the team’s locker room a

Responding to continuing public complaints that the latest and forthcoming real estate policies impose excessive burdens upon nonspeculative end users, the South Korean government is set to lowering the tax rate for budget residences, the nation’s fiscal chief said Wednesday. He also rolled out a “phased” housing system that would allow prospective homebuyers with limited credit to eventually own a residential home by accumulating stake in the given property throughout the

South Korean shares ended their two-day losing streak Wednesday, helped by a tech rally, amid intensifying woes over the pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.42 points, or 0.62 percent, to close at 2,345.26. Trading volume was moderate at about 695 million shares worth some 8.8 trillion won ($7.8 billion), with gainers outnumbering losers 615 to 237. Foreigners bought a net 15 billion won, with retail investors pu