South Korean stocks spiked by more than 2 percent Thursday, helped by stimulus measures and a rise in oil prices. The local currency slightly rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) increased 39.40 points, or 2.34 percent, to close at 1,724.86. Trading volume was moderate at 752 million shares worth some 9.5 trillion won ($7.7 billion), with gainers outnumbering losers 708 to 154. The sharp increase came one day after the index plunged over 4 perce

South Korean stocks opened slightly lower on Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.18 points, or 0.25 percent, to 1,681.28 in the first 15 minutes of trading. The weak start follows another market crash in New York, apparently caused by fears of the new coronavirus outbreak bringing the US economy to a halt. The Dow Jones Industrial Average plunged 973.65 points, or 4.44 percent, to close at 20,943.51 on Wednesday (

The net profits of South Korean firms listed on the country's main stock exchange more than halved last year, the bourse operator said Wednesday. The combined net profit of 583 Kospi-listed companies, excluding financial firms, came to 52.42 trillion won ($42.5 billion) in 2019 on a consolidated basis, down 52.82 percent from a year ago, according to the Korea Exchange (KRX). The combined annual sales rose 0.47 percent on-year to stand at 2,006.45 trillion won in 2019, but operating profits p

Hyundai Capital said Wednesday that assets of its global offices surpassed 50 trillion won ($40.9 billion) in value for the first time since it launched its first overseas branch in the US in 1989. The Seoul-headquartered auto financier said its global branches owned 50.8 trillion won of financial assets last year, double that of the domestic market. Hyundai Capital’s global branches also posted a record pretax income of 766.3 billion won. “The company’s standardized busin

South Korean stocks sank 4 percent Wednesday as foreign investors continued to sell local shares on fears of the economic fallout from the new coronavirus outbreak. The local currency dropped sharply against the US greenback. After a choppy session, the benchmark Korea Composite Stock Price Index (KOSPI) plunged 69.18 points, or 3.94 percent, to close at 1,685.46. Trading volume was high at 123 million shares worth some 11.9 trillion won ($9.67 billion), with losers outnumbering gainers 574 t

Retail investors in Korea are most active stock traders in Asia, outside China

Kyobo Life Insurance said Tuesday it has filed a complaint with the US Public Company Accounting Oversight Board against accounting firm Deloitte Anjin for faulty appraisal of corporate value. It has alleged that that Deloitte Anjin, the local subsidiary of global accounting and consulting group Deloitte, wrongly assessed the fair market value of financial investors’ put options -- which could affect the management rights of current Kyobo Chairman Shin Chang-jae. “Deloitte Anjin

Asset manager sells W1tr bonds to meet debt guarantee rules

South Korea’s Mirae Asset Financial Group said Tuesday that Chairman Park Hyeon-joo has donated his dividends for 10 years in a row -- amounting to 25 billion won ($20.5 million). In 2019, as a shareholder of Mirae Asset Global Investments and Mirae Asset Capital, Park earned a combined 1.7 billion won. The donations went to Mirae Asset Park Hyeon-joo Foundation, dedicated to scholarships for exchange programs for Korean college students. According to the firm, over 5,800 students have

Foreign investors on Tuesday continued to sell local stocks for the 19th consecutive session amid the coronavirus scare, data showed, with offshore investors offloading a net 72.8 billion won ($59.7 million) worth of local stocks. Since March 5, foreigners have net sold a total of 11.6 trillion won in stocks. They sold a net 1.31 trillion won on March 9, marking the biggest sell-off on record. Despite foreigners' continued selling binge, South Korea's benchmark Korea Composite Stock Price Ind

South Korean stocks closed sharply higher Tuesday, extending earlier gains on hope for massive economic stimulus measures in major economies, such as China and the United States, to minimize the fallout from the new coronavirus outbreak. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) surged 37.52 points, or 2.19 percent, to close at 1,754.64. Trading volume was high at slightly over 1 billion shares worth 13.6 trillion won ($11.2 billion),

South Korean stocks extended earlier gains Tuesday on massive stimulus measures around the globe to minimize the economic fallout from the new coronavirus outbreak. The benchmark Korea Composite Stock Price Index (KOSPI) spiked 31 points, or 1.81 percent, to reach 1,748.12 as of 11:20 a.m. The index opened higher, adding 1.35 percent in the first 15 minutes of trading. Such a strong start followed overnight gains on Wall Street. "The New York stock market closed higher on the news that t

Grim outlook overshadows landmark investment deals of HDC, Mirae Asset　

Authorities unveil tightened rules on high-risk P2P investments

South Korean stocks finished almost unchanged Monday paring earlier losses on new stimulus measures aimed at minimizing the fallout from the spread of the new coronavirus.  The local currency dropped sharply against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.61 point, or 0.04 percent, to close at 1,717.12. Trading volume was high at 753 million shares worth 8.97 trillion won ($7.32 billion), with gainers outnumbering losers 615 to 256.   The in