ASSET MANAGEMENT MIRAE ASSET GLOBAL INVESTMENTS Under its goal of becoming a global financial company, Mirae Asset Global Investments has been expanding its presence overseas by operating over 1,700 financial products in 36 countries around the world. The asset management unit of Mirae Asset Financial Group is in its 17th year of global operation since it launched its first overseas unit in Hong Kong in 2003 and has ceaselessly made inroads across the globe including financial markets in the

CREDIT CARD SHINHAN CARD From food ordering apps to streaming platforms, non-face-to-face services have become a new norm in the coronavirus era. Joining the contactless trend, Shinhan Card, a leading card issuer in South Korea, recently rolled out a credit card that offers services and benefits for consumers who prefer mobile services over face-to-face experiences at physical stores or restaurants amid the coronavirus pandemic. The new credit card, YaY, can be issued via the card company&rs

South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street led by estimate-beating housing data. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.64 points, or 1.18 percent, to 2,118.12 in the first 15 minutes of trading. The Dow Jones Industrial Average spiked 2.32 percent to end at 25,595.80 on Monday (New York time), with a 1.2 percent gain on the tech-laden Nasdaq. The gain was largely attributed to a record gain in the US pending home sales. A 14

South Korea’s financial regulator Monday urged financial institutions and tech companies to widen access to client information to foster personal credit information management services here, dubbed MyData. “To maximize customers interest, financial and ICT companies as well as fintech startups need to open up their data assets as much as possible,” said Financial Services Commission Vice Chairman Sohn Byung-doo.  MyData refers to a business model that offers integrated

South Korean stocks dipped about 2 percent Monday, amid renewed fears over the coronavirus outbreak promoted by a resurgence in new confirmed cases over the weekend. The Korean won continued to rise against the US dollar. The nation’s main bourse Kospi opened sharply lower at 2,105.54 -- down 29.11 points, or 1.36 percent, from the previous session’s close. The index continued to move downward to 2,087.84 in late trading hours. It was the first time that the index has dropped below

South Korean shares opened sharply lower Monday amid renewed fears over the new coronavirus prompted by a spike in the number of new cases over the weekend. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 31.70 points, or 1.49 percent, to 2,102.95 in the first 15 minutes of trading. The drop is largely attributed to the resurgence in new COVID-19 cases. South Korea added 62 new cases on Sunday, including 40 local infections, raising the total caseload to 12,715. The tally m

South Korea’s National Pension Service sold 1.09 million shares in the nation’s leading hospitality and duty-free operator Hotel Shilla in the second quarter, a filing showed Sunday. As of Wednesday, NPS was holding 9.73 percent voting rights in the hotel and resort unit of Samsung, down 2.74 percentage points from March 31, with 12.47 percent. From April 1 to June 24, the pension fund sold Hotel Shilla’s shares 50 times out of 78 times of its stock trading. Despite the sta

Mixed views on conglomerates’ control of CVCs shed light on lingering distrust of South Korea’s chaebol families, also urge corporate growth

BlackRock 3rd-largest shareholder of Samsung Electronics with 5.03%

Newly listed stocks enjoyed substantial gains in the first half this year, fueling an investor rush amid volatile market trends, data showed Sunday. A total of 12 companies made debuts on the main KOSPI and the tech-laden KOSDAQ markets, nine of which far exceeded their IPO prices, according to the data from the bourse operator Korea Exchange (KRX). As of Friday, these firms' stock price hikes averaged as high as 52.4 percent. Among them, Leading Edge Technology Co. Ltd. closed Friday at 20,

GC LabCell, a manufacturer of cell therapy products, said on Friday that its US strategic partner Artiva Biotherapeutics has raised $78 million in Series A funding round. Launched in March last year jointly by South Korean drugmaker GC Pharma and GC LabCell, Artiva focuses on research and development of cell therapy drugs and commercialization of GC LabCell’s anti-cancer drugs based on natural killer cells, a type of immune cell in the human body. Among the investors of the funding ro

South Korean stocks closed 1.05 percent higher Friday as large-cap tech shares rallied. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) went up 22.28 points to close at 2,134.65. Trading volume was moderate at 728 million shares worth 9.4 trillion won ($7.8 billion), with gainers outpacing losers 432 to 395. Foreigners and individuals scooped up a net 61.5 billion won and 106.2 billion won, respectively, while institutions offloaded a net 163

South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) added 15.3 points, or 0.72 percent, to 2,127.67 in the first 15 minutes of trading. On Thursday (local time), US stocks finished higher on the back of a rally in bank shares. The Dow Jones Industrial Average rose 1.18 percent, the tech-laden Nasdaq gained 1.09 percent and the S&P 500 rose 1.1 percent. In Seoul, most large caps got off to a strong s

Market concerns grew over a new tax plan on any financial investment, Thursday, with some criticizing that the scheme imposes a heavy burden on retail investors seeking small profits. The government unveiled a set of capital gains taxation of up to 25 percent on annual capital gains worth over 20 million won ($16,600) starting from 2023, while lowering the stock transaction tax.  With individuals expressing concerns online, a petition demanding the withdrawal of the new tax scheme on

South Korean stocks tumbled more than 2 percent Thursday as the new cases of the novel coronavirus surged, dimming investors' hopes for a quick global economic recovery, analysts said. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 49.14 points, or 2.27 percent, to close at 2,112.37. Trading volume was heavy at 1 billion shares worth 10.6 trillion won ($8.8 billion), with losers far outnumbering winners 732 to 145. Foreigners and insti