Korea’s three leading credit card companies -- Kookmin Card, Lotte Card and NongHyup Card -- have been slapped with fines for mishandling customer data. The Supreme Court on Monday confirmed a lower court’s verdict to fine the three card issuers between 10 million won ($8,450) and 15 million won for violating the Personal Information Protection Act. The companies were accused of mishandling customer data as they had let subcontractors freely gain access to customers’ infor

South Korean shares opened higher Monday, buoyed by tech gains and eased social distancing measures. The Korea Composite Stock Price Index (KOSPI) rose 17.38 points, or 0.73 percent, to 2,414.07 in the first 15 minutes of trading. The index rose above the 2,400-point mark as chipmakers continued to gain despite lingering valuation pressure on tech heavyweights in major economies. Investor sentiment also improved as the South Korean government eased the social distancing level to Level 2 in

Financial intelligence firm PEI said Sunday it plans to host its PERE Investor Forum: Seoul Virtual Experience 2020 on Tuesday. The virtual event is designed to connect South Korean investors with global fund managers and investment advisers to get a glimpse of the future capital flows in the real estate investment scene in and out of Korea through virtual sessions. Sharing the persepctives of Korean institutional investors will be representatives of the Public Officials Benefit Association,

South Korea made a top 10 list of attractive investment destinations around the world, but remained at the bottom among comparable Asian nations, according to a report Sunday. The report recently published by European think tank The European House Ambrosetti showed Korea scored 80.06 in the global attractiveness index, ninth highest among 144 nations. The GAI is decided by gauging a nation’s capability to attract foreign investment and its investment environment. In 2016, when such

Global real estate services firm Cushman & Wakefield won the top commercial real estate adviser and consultant spot by Euromoney’s 2020 Real Estate Survey for the third consecutive year, the company said Sunday. Euromoney Real Estate Survey’s country result also showed that Cushman & Wakefield’s Korean unit won the award here, along with other 15 countries including the United States, Japan and China. “The success of winning the Euromoney Real Estate Awards in

SEJONG -- The balance for credit-based stock purchases has shot up about 120 percent in South Korean capital market over the past five months to reach an all-time high. According to the Korea Financial Investment Association, the outstanding credit for stock buying offered by brokerages came to 17.21 trillion won ($14.49 billion) as of Sept. 10. By market, investors, including individual investors, owe brokerages for stocks worth 8.61 trillion on the first-tier Kospi and worth 8.51 trillion w

South Korean shares are likely to trade in a tight range in the coming week on valuation concerns, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 2,396.69 points on Friday, up 1.2 percent from 2,368.25 a week ago. The index wavered the entire week, roiled by more investors questioning whether stock prices had risen too far beyond their proper values. Such hesitation was a factor in the last session, which finished nearly flat, up 0.01 percent. Local analyst

Creditors of Asiana Airlines announced Friday that they would pull the plug on a stalled deal to sell the cash-strapped airline to property developer HDC Hyundai Development Co. after 10 months of negotiations. They also decided to inject an additional 2.4 trillion won ($2.02 billion) in industrial stabilization funds to normalize operations at the air carrier for another disposal attempt. “Today, Kumho Industrial Co. has notified HDC Hyundai Development Co. that the merger and acquisiti

South Korean shares closed nearly flat on Friday amid growing valuation woes in the financial markets. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.21 points, or 0.01 percent, to close at 2,396.69. Trading volume was moderate at about 872 million shares worth some 11.9 trillion won ($10 billion), with gainers outnumbering losers 456 to 377. Foreigners sold a net 164 billion won, while retail investors purchased a net 451 billion won

The Korea Herald is running a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed. Investors in Asia are cheering the prospect of more Chinese companies listed in the US seeking a dual listing in Hong Kong. The catalyst for the acceleration in this trend is legislation which is likely to pass through the US Houses of Congress. The US legislation, Holding Foreign Companies Accountable Act, has two components that has raise

Kakao Games continued its bullish run on the Kosdaq market, with shares spiking by a daily permissible limit of nearly 30 percent for a second consecutive day Friday. As soon as trading began, the company’s stock price reached 81,100 won ($68.22) per share, up 18,700 won or 29.97 percent from the previous session’s close. It was more than triple the offering price of 24,000 won. The price also maintained throughout the day. It soon rose into the third most valuable stock on the Ko

South Korean shares opened slightly lower Friday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.73 points, or 0.16 percent, to 2,392.75 in the first 15 minutes of trading. The KOSPI's decline is largely attributed to the US tech retreat and unimproved jobless benefits data from last week. The tech-laden Nasdaq composite fell 221.97 points, or 1.99 percent, to 10,919.59 on Thursday (New York time). The Dow Jones Industrial Average l

Domestic industrial sectors that are reeling from the coronavirus fallout in South Korea are unlikely to see a drastic rebound and probably face longer-lasting financial strain, officials of credit rating agency the Korea Investors Service said Thursday. Korean businesses dedicated to auto parts manufacturing, oil refining, hotels, duty-free shops, theaters and aviation are seeing a negative credit outlook and facing heightened financial pressure, making them subject to credit downgrading in t

Hyundai Card, the credit card company under automotive giant Hyundai Motor Group, said Thursday that it has issued 450 billion won ($379 million) in green bonds to fund alternative energy and environmental projects. The won-denominated bonds that mature in one year and two months to 10 years are sold only to Korean institutional investors. The company issued the same bonds in August last year. Proceeds from the green bonds will be used in providing financing for eco-friendly vehicles, such

South Korean shares closed higher Thursday in sync with the overnight Wall Street rebound and on the back of another stimulus measure amid the pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.67 points, or 0.87 percent, to close at 2,396.48. Trading volume was moderate at about 1.1 billion shares worth some 15.6 trillion won ($13.2 billion), with gainers outnumbering losers 596 to 232. Foreigners bought a net 381 billion won