A number of South Korean companies are in the process of going public in the fourth quarter this year, in a bid to ride on the latest successful initial public offering (IPO) rush, data showed Sunday. After suffering a pandemic-caused market crash in the first half, the local stock market rebounded to the pre-pandemic level, wooing more firms to tap the IPO market during the remainder of the year. Some mega-scale deals, such as Kakao Games and Big Hit Entertainment, raised some tens of trilli

South Korean shares are likely to move in a tight range in the coming week amid rising uncertainties from the presidential election and stimulus talks in the United States, analysts said on Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,341.53 points on Friday, dropping 2.11 percent from the previous Thursday, the last session before the holiday weekend. Local analysts attributed the KOSPI's weekly decline to the resurgence in COVID-19 outbreaks at home. South K

Car sharing firm Socar said Friday that it has newly attracted 60 billion won of funding from investors, achieving unicorn status with a corporate value of 1 trillion won ($872.6 million). With Socar’s latest addition to the unicorn list, South Korea now has 12 unicorn companies, including ecommerce firm Coupang, fintech company Viva Republica and accommodation booking services operator Yanolja. Socar is Korea’s first mobility unicorn. “As Socar has received a combined 6

Share price of Big Hit Entertainment, an entertainment agency behind K-pop boy band BTS, slid for two straight days right after the high profile initial public offering Thursday. The company’s stock price traded 19.77 percent lower at 207,000 won ($180.6) in intraday trading Friday. After soaring by 30 percent to 351,000 won on its Thursday debut on the main bourse Kospi, the stock closed at 258,000 won, down 4.4 percent from the opening price of 270,000 won. BTS’ offering price s

South Korean shares retreated for a fourth consecutive session Friday, largely on concerns that the COVID-19 resurgence in major economies may hurt exports. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 19.68 points, or 0.83 percent, to close at 2,341.53. Trading volume was moderate at about 908 million shares worth some 11 trillion won ($9.6 billion), with losers outnumbering gainers 622 to 240. Foreigners sold a net 173 billion wo

South Korean shares opened lower Friday as a resurgence of the new coronavirus could dampen hopes of a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.3 point, or 0.01 percent, to 2,360.91 in the first 15 minutes of trading. Stocks traded bearish after the KOSPI lost for a third consecutive day the previous session. The Dow Jones Industrial Average went down 0.07 percent, to close at 28,494.2 on Thursday (New York time), with the Nasdaq Composite and

Big Hit founder becomes 8th-richest person with stocks valued at W3.2tr, ahead of Hyundai Motor chief

South Korean stocks dipped for a third consecutive session Thursday as spreading new coronavirus infections and the deadlocked US fiscal stimulus weighed heavily on the local financial markets. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 19.27 points, or 0.81 percent, to close at 2,361.21. Trading volume was moderate at about 1.1 billion shares worth some 12.8 trillion won ($11.2 billion), with gainers outnumbering losers 583 to 279.

South Korea’s leading credit card company Shinhan Card said Thursday that it has issued social bonds worth $400 million via a public offering. The issuance of the bonds, aimed at funding small-and medium-sized businesses and helping the financially marginalized, is the first of its kind in the local credit card segment since the global financial crisis in 2008, according to Shinhan. Some 100 institutional investors -- nearly 82 percent from the Asian region and the rest from Europe

Trust deposits for pension funds operated by Mirae Asset Global Investments surpassed the 8 trillion won ($7 billion) mark, the company said Thursday. The company pooled 3.8 trillion won for private pension funds and 4.2 trillion won for retirement funds. Both figures are the highest in their respective segments, it added. Trust deposits for the pension market grew by 1 trillion won this year to 32 trillion won, according to financial market tracker FnGuide. Mirae Asset put its focus on rol

KB Card, a major card issuer in South Korea, rolled out a mobile payment solution Thursday as part of its efforts to transform into a digital financial platform operator. The payment solution, named KB Pay, allows users to utilize money transfer, overseas remittance and currency exchange services. KB Pay subscribers can also have credit cards and gift certificates registered on the app to use them at online stores or brick-and-mortar shops. Those who want to make purchases in other countries

South Korean stocks opened lower Thursday, taking a cue from overnight losses in US markets over doubts about a fiscal stimulus plan. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.24 points, or 0.18 percent, to 2,376.24 in the first 15 minutes of trading. Seoul shares closed down nearly 1 percent Wednesday on renewed concerns that a resurgence in new coronavirus cases dimmed hopes for economic recovery. Wall Street ended lower Wednesday as investor sentiment was chilled by ex

Big Hit Entertainment, the management agency of K-pop superstars BTS, debuted on South Korea's main bourse on Thursday, building a valuation higher than the country's next three largest entertainment companies combined. Big Hit shares opened at 270,000 won ($236) on Thursday on the Korea Exchange and jumped by the daily upper limit of 30 percent to 351,000 won three minutes after market opening. The stocks closed at 258,000 won, down 4.4 percent from the starting price. Still, the closing pr

Analysts maintain positive outlooks on stocks of Hyundai affiliates despite unsolved ownership structure issue

South Korean shares dipped nearly 1 percent Wednesday as a new coronavirus cluster infection threatened hopes for quick economic recovery. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 22.67 points, or 0.94 percent, to close at 2,380.48. Trading volume was moderate at about 880 million shares worth some 10.5 trillion won ($9.2 billion), with losers outnumbering gainers 638 to 227. Foreigners sold a net 38 billion won and institutions o