South Korean firm Koramco REITs Management & Trust said Monday it plans to raise 106.6 billion won ($89.04 million) from retail investors for its market debut on the nation’s main bourse Kospi next month.　 Koramco Energy Plus REIT is designed to directly invest in the 187 gas station sites, including the land, buildings, tanks and pipelines. Spanning an area 316,621 square meters, the land and buildings were valued at nearly 1.13 trillion won as of May 31 this year, Koramco REITs Man

South Korean shares opened higher on Monday on hopes for stimulus measures in major economies, bucking concerns over escalating tensions between the United States and China. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.37 points, or 0.70 percent, to 2,215.81 in the first 15 minutes of trading. Investor sentiment improved in Seoul, following reports that US Republicans were set to roll out a $1 trillion COVID-19 aid package early this week, with support from the White House.

South Korea’s housing prices were 2.64 times that of the gross domestic product in 2019, as the property market spiked, central bank data showed Sunday. Last year, the aggregate market price of houses here came to 5.67 quadrillion won ($4.62 trillion), up 7.4 percent from a year earlier, according to the Bank of Korea. The corresponding figure exceeded the 1 quadrillion won mark for the first time in 2000 and doubled up during the next six years to surpass 2 quadrillion won in 2006. Du

Fast-changing market trends led by technology require card behemoths to be adaptable

South Korean stocks closed lower for a third consecutive session on Friday, as investor sentiment worsened over the economic fallout from the new coronavirus pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 15.75 points, or 0.71 percent, to close at 2,200.44. Trading volume was high at about 979 million shares worth some 16.1 trillion won ($14 billion), with losers outnumbering gainers 583 to 279. Foreigners bought a net 87 bill

South Korean shares opened lower Friday on concerns over the virus pandemic's impact on the export-driven economy. The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.73 points, or 0.44 percent, to 2,206.46 in the first 15 minutes of trading. The index got off to a weak start, with signals that the economic recovery from the COVID-19 pandemic may be slower than the authorities earlier expected. South Korean vice finance minister warned that the country's export slump is likely t

South Korean shares closed lower for the second straight day Thursday due to weaker-than-expected growth data and the rising US-China frictions. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 12.47 points, or 0.56 percent, to close at 2,216.19. Trading volume was high at about 920 million shares worth some 16.1 trillion won ($13.4 billion), with losers outnumbering gainers 597 to 271. Foreigners sold a net 210 billion won, and instituti

South Korean shares opened lower Thursday as investor sentiment worsened over the country's biggest economic contraction in the second quarter in over two decades. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.99 points, or 0.40 percent, to 2,219.67 in the first 15 minutes of trading. In the April-June period, South Korea's real gross domestic product (GDP) shrank 2.9 percent from the same period last year, marking the slowest growth since a 3.8 percent on-year contraction in

On local retail investors’ penchant for Tesla shares, AB strategist says US tech stocks could be economically sensitive

South Korea’s lodging and dining industry’s revenue plummeted to a 10-year low in the first quarter with a surge in loan requests, the central bank said Wednesday.  According to data from the Bank of Korea, the industrial production index for the hospitality sector stood at 85.6, down 15.5 percent from the same quarter last year, marking the steepest fall since 2010. The IPA -- which measures current economic conditions -- is calculated based on sales figures in each busine

South Korean stocks closed flat Wednesday as investors cashed in profits as virus fears marred economic recovery hopes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 0.17 point, or 0.01 percent, to finish at 2,228.66. Trading volume was heavy at 839 million shares worth 15.3 trillion won ($12.8 billion), with gainers outpacing losers 423 to 412. The KOSPI closed up 1.4 percent Tuesday, buoyed by a European Union economic stimulus

Despite a number of REITs attempting to make their market debuts on the nation’s main bourse Kospi in the second half, their value remains underestimated, according to the chief of the Korea Association of Real Estate Investment Trusts on Wednesday. “Beginning with IGIS Value Plus REIT’s list on the Kospi in July, 10 REITs have either been listed or waiting to be listed in the market in the second half. Unlike our expectation, nominal values of the REITs were underestimated,&

South Korea's state pension operator has raised exposure to pharmaceutical and tech stocks this year amid the coronavirus outbreak while unloading retailers and other virus-hit issues, a corporate tracker said Wednesday. The National Pension Service (NPS), the biggest institutional investor in South Korea, newly bought stakes of 5 percent or more in 24 companies traded on the country's major and secondary bourses as of Friday, according to CEO Score. DoubleU Games Co. was the pension provider

South Korean stocks opened nearly flat Wednesday as investors cashed in profits following a sharp gain in the previous session over economic recovery hopes. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) gained 0.14 point or 0.01 percent to 2,228.97 in the first 15 minutes of trading. Seoul shares closed up 1.4 percent Tuesday as investor sentiment was boosted by a European Union economic stimulus deal and hopes for coronavirus vaccines. Overnight, Wall Street

Foreign investors have turned to net buyers of top-cap Samsung Electronics Co. this month following months of massive selling, data showed Wednesday. Offshore investors' net purchase of Samsung shares stood at 1.07 trillion won ($900 million) in the first 21 days of July, making the tech giant their most-bought issue, according to the data from the Korea Exchange. The figure represents a sharp turnaround from their previous selling binge. In the first five months of the year, foreigners sold