Prior to the Morgan Stanley Capital International Korea Index’s May adjustment, South Korea’s securities firms are eyeing whether Hanjin KAL will be able to join the club despite its low liquidity. Led by a share price rally, the market capitalization of Hanjin Group’s holding company jumped to nearly 5.14 trillion won ($4.21 billion) on Friday, far exceeding the MSCI’s minimum standard for the Korea index, estimated at between 1.7 trillion won and 1.8 trillion won. B

The Korea Consumer Agency said Friday that the number of e-commerce-related claims filed by consumers aged 60 or older has grown rapidly in recent years. From 2017 to 2018, the number of the entire claims filed by those in the age group, via the agency’s consumer consulting center rose by 3.5 percent annually. Of the claims, 51.2 percent were linked to products or services bought on online commerce platforms, while 24.5 percent and 4.5 percent were respectively related to purchases via

The state-run National Pension Service said Friday that it will form a committee next week to take charge of recommending a new chief. The post of NPS chairperson has been vacant since Jan. 7, when Kim Sung-ju stepped down to run in the April 15 general elections. The world’s third-largest pension operator, with some $600 billion in assets, is currently headed by acting Chairman Park Jung-bae. It is expected that the committee will pick three to five candidates, and the minister of he

Market Kurly, a fast-growing grocery delivery startup, announced on Friday that it has attracted 200 billion won ($164.3 million) in Series E funding. Led by investment firm DST Global, a group of global investors, including Hillhouse Capital, Sequoia Capital China, Fuse Venture Partners, SK Networks and Translink Capital and Aspex Management participated in the new round of funding. The Series E brings the South Korean startup’s total funding to 420 billion won. The new funding round

South Korean stocks closed higher Friday as investor sentiment got a boost from less-than-pessimistic economic indicators from the United States and China, analysts said. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 17.21 points, or 0.89 percent, to finish at 1,945.82. Trading volume was moderate at 775 million shares worth 7.82 trillion won ($6.4 billion), with gainers outpacing losers 588 to 227. Seoul stocks got off to a solid st

South Korea’s latest economic stimulus measures -- known as the “Korean New Deal” -- will likely attract foreign investors to the local stock market, local brokerages said Friday. “Offshore investors have been posting a net sell-off in the local stock market since March. However, they have recently begun purchasing stocks in the software sector,” said Ha In-hwan, an analyst at Meritz Securities. By focusing on accelerating the digitalization of the nation’s

Seoul stocks opened higher Friday, tracking overnight gains on Wall Street boosted by a decrease in the number of jobless claims in the world's top economy. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.9 points, or 1.14 percent, to 1,950.51 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average moved up 0.89 percent on data that 3.16 million Americans had applied for unemployment benefits last week, down 677,000 from a week earlier. The figure, how

A set of new real estate policy measures aimed at turning public land in Seoul into massive housing complexes is designed to resolve the supply shortage in the capital city, but experts say it may not be enough to cool down the heated property market. According to the new policy package announced Wednesday, the government will supply 70,000 new housing units in Seoul, including 8,000 residential units in Yongsan and 250,000 in the surrounding areas. It is the left-leaning Moon Jae-in governm

South Korean stocks closed nearly flat Thursday as investors lost direction on mixed global economic data. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.15 point, or 0.01 percent, to finish at 1,928.61. Trading volume was moderate at 762 million shares worth 7.2 trillion won ($5.8 billion), with gainers outpacing losers 527 to 297. The index opened lower following dismal economic data from the United States and Europe. The US emplo

Seoul stocks opened lower Thursday following dismal economic data from major economies amid the novel coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) shed 6.74 points, or 0.35 percent, to 1,922.02 in the first 15 minutes of trading. US stocks closed mixed Wednesday (local time). The Dow Jones Industrial Average lost 0.91 percent to close at 23,664.64, but the tech-heavy Nasdaq Composite advanced 0.51 percent to finish at 8,854.39. Investors apparently focused on

South Korea’s top internet-only bank Kakao Bank said Wednesday that its operating profit nearly tripled in the first three months this year over soaring demand for mobile loan services and stock trading accounts. The internet-only bank’s operating profit came in at 18.4 billion won ($15 million) in the first quarter, up from 6.4 billion a year before. Founded in January, 2016, the company posted losses in the first couple of years, but made a turnaround in 2019 with a net profit o

South Korean stocks advanced by more than 1 percent Wednesday as investors bet on the reopening of businesses around the globe after coronavirus lockdowns. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 33.39 points, or 1.76 percent, to close at 1,928.76. Trading volume was high at 1 billion shares worth 8.4 trillion won ($6.7 billion), with gainers far outpacing losers 695 to 146. The index stayed above the flatline througho

Twenty firms have submitted preliminary applications for initial public offerings to the Korea Exchange in April, five times higher than the previous month, a report by a local brokerage showed Wednesday. “With the number of confirmed COVID-19 cases sharply declining and the continued stock index rally in mid-April, the number of firms preparing for listing plans has greatly increased,” said Lee So-joong, an analyst at SK Securities. “Despite lingering uncertainty of the CO

Seoul stocks opened higher Wednesday, tracking overnight gains on Wall Street amid the new coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.51 points, or 1.24 percent, to 1,918.88 in the first 15 minutes of trading. US stocks advanced for a second straight day Tuesday (local time) as investors bet on a gradual reopening of businesses around the country after coronavirus lockdowns. American stocks also received a boost from a rebound in oil prices. The

The average jeonse-to-sales price ratio for apartments in Seoul and surrounding areas continued a downward trend last month, according to real estate data tracker KB Kookmin Bank Liiv On on Tuesday. ”Jeonse” is a real estate term unique to South Korea that refers to a two-year property lease. The average apartment lease was equivalent to 54.7 percent of the average sales price in Seoul, while the figures for Incheon and Gyeonggi Province, respectively, came in at 73.1 percent and 6