South Korean stocks opened higher Thursday on encouraging news about another COVID-19 candidate vaccine in the US. Extending gains for the fifth consecutive day, the nation’s main bourse Kospi crossed the 2,000-point mark in early morning trading for the first time since March 6 as it rose 13.65 points, or 0.68 percent, to 2,003.20. It closed at 1998.31, up 0.44 percent. Retail investors drove the index as they bought stocks worth some 204.9 billion won ($166.5 million) while instituti

South Korean stocks closed higher Thursday to extend their winning streak to a fifth session, the longest period of this year, on growing hope over the resumption of global business activities. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 8.67 points, or 0.44 percent, to close at 1,998.31. Trading volume was moderate at some 588 million shares, worth about 8.5 trillion won ($6.92 billion), with gainers outnumbering losers 463 to 3

South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street apparently backed by hopes of an economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 13.15 points, or 0.66 percent, to 2,002.79 in the first 15 minutes of trading. The Dow Jones Industrial Average surged 369.04 points, or 1.52 percent, to close at 24,575.90 on Wednesday (US time). Hopes of a quick economic recovery sparked the stock market rally with virus-related restrictions

Hana Financial Group, South Korea’s third-largest banking group will launch a digital insurance unit next month through its newly acquired subsidiary, The-K NON-Life Insurance, according to industry sources Wednesday. Branded as Hana General Insurance, the group’s new affiliate, previously a general insurance firm focusing on auto insurance, will serve as a digital insurance company starting June 1 under the leadership of Kwon Tae-gyun, former vice president of Hana Capital. 

South Korean benchmark indexes continued to be upbeat Wednesday, following the government’s additional economic measures to counter the ongoing coronavirus crisis. The nation’s main bourse Kospi rose to a high of 1,992.20 points in intraday trading, up 0.59 percent from a day earlier, while the secondary Kosdaq crossed the 700-point mark for the first time in a year. The Kospi index closed at 1,989.64, up 0.46 percent while Kosdaq ended at 708.76, up 1.78 percent. The gains wer

South Korean stocks opened slightly higher Wednesday despite heavy overnight losses on Wall Street sparked by renewed fears over the coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) added 3.09 points, or 0.16 percent, to 1,983.70 in the first 15 minutes of trading. The Dow Jones Industrial Average plunged 390.51 points, or 1.59 percent, to close at 24,206.86 Tuesday (US time). The sharp decline came one day after global stock markets rallied on reports of positiv

The South Korean stock market was upbeat Tuesday on hopes of the successful development of a coronavirus vaccine in the US. The local currency rose against the US dollar. Local shares opened sharply higher in early morning trading with the nation’s main bourse Kospi soaring 2.26 percent to 1980.84 points. Continuing the momentum throughout the day, the index closed at 1,980.61, up 2.25 percent. The local rally came on the heels of news reports about the positive results of US pharmac

With the National Assembly likely to pass revisions to the Electronic Signature Act on Wednesday, fintech groups and mobile carriers are projected to dominate the related market with their existing online identification services. The revision bill -- likely to be among a set of legislations that the 20th National Assembly will pass at its last plenary meeting –- is projected to fuel privatization of the e-signature industry by abolishing the nation’s public e-certificate system, a

South Korean stocks closed sharply higher Tuesday, joining other Asian and global stock markets in a rally that came on hopes of a vaccine for COVID-19. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) spiked 43.50 points, or 2.25 percent, to close at 1,980.61, extending its winning streak to a third day. Trading volume was moderate at some 762 million shares worth about 11.7 trillion won ($9.55 billion), with gainers outnumbering l

The Korea Exchange (KRX) said Tuesday it has started providing remote learning program to facilitate untact -- non-face-to-face contact -- services for foreign institutions in the wake of the prolonged coronavirus outbreak. The nation’s sole stock market operator used to offer offline education programs to offshore institutions such as stock exchanges, supervisory authorities and financial companies, but it has now launched online services by providing video clips on its official English

Individual investors are flocking to direct stock investment, choosing to bet on their own picks over brokerage houses' funds, data showed Tuesday. Outstanding margin loans came to 9.95 trillion won ($8.14 billion) as of Friday, up 10.1 percent from a month ago, according to the data from the Korea Financial Investment Association (KOFIA). Margin loans refer to those that retail investors take out from brokerage houses to invest in stocks. A rise in outstanding margin loans usually points to

South Korean shares opened sharply higher Tuesday, tracking overnight gains on Wall Street that followed reports of positive results from a vaccine development test. The benchmark Korea Composite Stock Price Index (KOSPI) surged 40.35 points, or 2.08 percent, to 1,977.46 in the first 15 minutes of trading. The stock market rally follows overnight gains on Wall Street, where hopes of COVID-19 vaccine development and a pledge from US Fed chief to support the economy helped boost investor sentim

Mirae Asset Venture Capital gauges right timing to exit some of its portfolio companies in H2

South Korea’s major financial groups and their flagship lenders are projected to exhibit weaker performances this year, analysts said Monday, as they were rattled by Warren Buffett’s recent offloading of big bank stocks coupled with new circumstances under the COVID-19 crisis. Following reports of the Berkshire Hathaway CEO’s unloading of airlines and big bank stocks such as Goldman Sachs and US Bancorp last week, share prices of four major banking groups here -- Shinhan, KB

Gold prices rose to a record high on Monday as investors sought to park their money in safer destinations amid the COVID-19 pandemic and renewed tensions between the US and China, data showed. According to the Korea Exchange Gold Market, the price stood at 69,840 won ($56.66) per gram at Monday’s close, jumping 1,190 won, or 1.73 percent, from the previous session’s close. The price had surged to 70,000 won the same day, the highest since April 27, when the figure reached 68,890 w