Viva Republica, operator of mobile fintech platform Toss, said Monday that it has launched a payment gateway subsidiary called Toss Payments. The establishment of the new subsidiary comes after the fintech company reached an agreement with mobile network giant LG Uplus in December, taking over full ownership of the latter’s payment gateway unit. A payment gateway is a service that authorizes credit card payments. With the new subsidiary, Viva Republica aims to take e-commerce payment

South Korean shares closed slightly higher Monday due to an advance in EV battery makers and tech shares, bucking concerns over the global resurgence of the COVID-19 infections. The Korean won fell against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 1.67 points, or 0.07 percent, to close at 2,251.04. Trading volume was high at about 636 million shares worth some 13.4 trillion won ($11.2 billion), with losers outnumbering gainers 515 to 325.

South Korean shares opened lower Monday, led by a decline in chip and auto shares. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.75 points, or 0.34 percent, to 2,241.62 in the first 15 minutes of trading. The fall is largely attributed to the losses in top caps. The political feud between the United States and China, South Korea's two largest trade partners, also sapped investor sentiment. Large caps traded mixed. Market bellwether Samsung Electronics lost 0.69 percent,

Shares of SK Biopharmaceuticals held by institutional investors will be up for sale Monday after a lockup period, drawing attention to its impact on bio equities that are zooming. According to South Korea’s sole stock securities operator Korea Exchange on Sunday, the lockup banning investors from trading shares after the initial public offering of the company will be lifted. Some 13.2 million shares were allotted to institutional investors right after the drug company was listed on

South Korean stocks are expected to move in a tight range next week, as investors remain watchful over the US stimulus package under way, analysts said Saturday.    The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,249.37 points on Friday, up 2.22 percent from 2,200.44 points a week ago.    The index increased in the first four sessions of the week, due to massive foreign buying of market heavyweights and better-than-expected earnings by Samsung Electron

The New York-based provider of exchange-traded funds Global X has listed its ETF -- which invests in global telemedicine and digital health companies -- on the Nasdaq, parent company Mirae Asset Global Investments said Friday. The product -- the Global X Telemedicine & Digital Health ETF -- tracks the Solactive Telemedicine & Digital Health Index, which included 40 firms as of July 21. US firms account for 82.48 percent of the total, while firms from countries such as Japan, China and

South Korean shares closed lower Friday, snapping a four-day winning streak, as economic uncertainties loom large amid the new coronavirus pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 17.64 points, or 0.78 percent, to close at 2,249.37. Trading volume was high at about 679 million shares worth some 12.7 trillion won ($10.7 billion), with losers outnumbering gainers 572 to 276. Foreigners sold a net 86 billion won, ending a f

South Korean shares opened slightly lower Friday, tracking overnight losses on Wall Street sparked by concerns over an economic slump in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.03 points, or 0.18 percent, to 2,262.98 in the first 15 minutes of trading. The US economy shrank by 32.9 percent in the second quarter this year, marking the worst contraction in 73 years. The Dow Jones Industrial Average lost 0.85 percent to close at 26,313.65 on Thursday (

D.Camp, a Korean startup accelerator backed by local lenders, on Thursday launched Front 1, a startup incubator that will run a range of support programs for fledgling startups in Seoul. Located in Mapo, the newly launched startup center is the largest in size as an incubator, and is set to house some 100 startups, it said. The startup center is expected to form a startup cluster together with other incubation organizations located in the district, including Seoul Startup Hub and IBK Changg

South Korean brokerage firm Mirae Asset Daewoo said Thursday it plans to repurchase 15 million treasury stocks worth 113.4 billion won ($94.84 million) in an effort to boost shareholder value and stabilize its shares. “Despite the well-balanced profit model and financial stability, the firm’s stock prices are undervalued,” said Jun Kyong-nam, head of business innovation division at Mirae Asset Daewoo. “With the company’s ample liquidity, we’ve made such a

South Korea’s main bourse Kospi reached a level not seen in some six months on Thursday, with foreign investors continuing their buying spree for a fifth consecutive session amid the US Federal Reserve’s steady rates and high interest in major tech firms and automakers. The Kospi opened higher at 2,275.33 -- up 12.17 points, or 0.54 percent, from the previous session. The strong start continued throughout the day to close at 2,267.01, just short of its yearly high closing of 2,267.

South Korean shares closed at the highest point in six months Thursday on the back of foreign buying that centered on major tech firms and automakers. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.85 points, or 0.17 percent, to close at 2,267.01, extending a winning streak to a fourth session after touching this year's high of 2,281.33 points. The closing marks the highest level since 2,267.25 on Jan. 22. Trading volume was high at

Mastern Investment Management said Thursday it has sent a message of support from its staff to health care professionals, health authorities and citizens in the battle against the novel coronavirus. Employees of the South Korean real estate investment house, including CEO Kim Dae-hyeong, took part in a campaign at its headquarters to express gratitude to those at the forefront of the strenuous battle. “I was delighted to participate in such a meaningful campaign and contribute to overco

South Korean shares opened higher Thursday, led by the estimate-beating earnings of top-cap Samsung Electronics and the weak US dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.05 points, or 0.62 percent, to 2,277.21 in the first 15 minutes of trading. Samsung Electronics' better-than-expected quarterly earnings led the KOSPI's gain. The world's largest memory chipmaker's operating profit in April-June grew 23.5 percent on-year, beating the market consen

Woori Financial Group said Wednesday that it plans to collaborate with telecom giant KT to upgrade its contactless retail services. The partnership followed an agreement signed last month by Woori Financial Group CEO Sohn Tae-seung and KT CEO Koo Hyun-mo, who pledged to strategically deal with market changes triggered by COVID-19. The companies will develop artificial intelligence-powered chatbots for untact -- non-face-to-face contact -- services. With the advanced customer service technol