Real estate trust firms in South Korea saw their combined profit fall 5.5 percent in 2019 from a year earlier due to increased operating costs, data showed Tuesday. The combined net profit of 14 real estate trusts stood at 480 billion won ($379 million) in 2019, compared with 507.9 billion won in 2018, according to the data released by the Financial Supervisory Service (FSS). Real estate investment trusts are a type of security that invests in real estate to be traded on major exchanges and p

Discontent rises as foreigners bet on short selling, experts say it may not be the case

Hyundai Motor Group's heir apparent Chung Euisun on Monday bought 19 billion won ($15 million) worth of stocks in two key affiliates to prop up their declining prices. Hyundai Motor Executive Vice Chairman Chung Euisun purchased 139,000 shares of Hyundai Motor Co. and 72,552 shares of Hyundai Mobis Co. before the stock market closed on Monday, the companies said in separate regulatory filings. Chung bought the two companies' stocks for 19 billion won--Hyundai Motor stocks at 68,435 won per s

Foreign firms, including Morgan Stanley, Credit Suisse, Merrill Lynch account for 93.5 percent of short sales worth over W1b

The coronavirus pandemic and ensuing market volatility are disrupting listing plans of South Korean firms that could otherwise have raised at least 289.5 billion won ($227.8 million), filings showed Monday. Seven companies have withdrawn or put off their initial public offerings in March. They include stem cell therapy developer SCM Life Science, telemarketing service provider Metanet Mplatform, electric vehicle parts maker LS EV Korea, diabetes treatment developer NovMetaPharma and construct

South Korea's financial authorities are expected to announce a set of measures this week to help stabilize financial markets roiled by the spread of the new coronavirus, industry sources said Monday. The measures include a bond market stabilization fund worth more than 10 trillion won ($7.94 billion), according to officials. Last week, Financial Services Commission chief Eun Sung-soo decided to create the bond market stabilization fund during a meeting with the heads of eight banks and other r

South Korea has suffered the second-largest outflow of foreign stock investment funds among major Asian emerging nations over the past month amid a dollar shortage sparked by the coronavirus pandemic, data showed Monday. Offshore investors withdrew $10.24 billion from the South Korean stock market between Feb. 20 and Wednesday, according to the data compiled by the Korea Center for International Finance (KCIF). It was the second-largest outflow among major Asian emerging markets after Taiwan's

Citibank Korea has seen the pool of high-net-worth clients grow on the back of its unique wealth management program, which focuses on strict product screening for the sake of investor security. The number of wealth management clients at the local subsidiary of the New York-based bank soared 124 percent on-year in January, according to officials. Also, its Aggressive Model Portfolio yielded a 19.8 percent return last year, while its Moderate Model Portfolio returned 17.2 percent, despite the

With deadline for payment coming and weaker won, local investment firms anxious over rising risks

South Korean companies are bracing for a possible liquidity crisis in the bond market next month, amid sagging investor sentiment and signs of capital flight due to the coronavirus pandemic, market data showed Sunday. The illiquidity -- triggered by continuously escalating novel coronavirus fears -- will pose a hurdle to companies when they attract new capital or carry out a refinancing scheme. A combined 6.5 trillion won ($5.2 billion) in corporate bonds is due to reach maturity in April, ac

Foreign brokerages operating in South Korea have reported a drastic fall in their earnings in 2019, with their commission income falling sharply as domestic rivals chewed on their market share. The five securities arms of foreign investment banks -- Credit Agricole, BNP Paribas, Deutsche, Hong Kong and Shanghai Banking Corp. and UBS -- disclosed that they saw over a 30 percent drop in their annual earnings, according to the Korea Financial Investment Association. The latest was France-based C

Stock market rebounds over swap deal, but experts say optimism is premature

South Korean stocks rebounded sharply on Friday as investors were buoyed by the currency swap deal between Seoul and Washington, snapping a freefall of seven consecutive sessions. The Korean won was also sharply up against the US dollar. The benchmark Korea Composite Stock Price Index soared 108.51 points, or 7.44 percent, to close at 1,566.17. Trading volume was high at 807 million shares worth 10.4 trillion won ($8.41 billion), with gainers far outpacing losers 824 to 68. The combined marke

  South Korean stocks crumbled again Thursday, hitting the lowest point in nearly 11 years, as foreigners’ selling spree continued over growing global uncertainties. The benchmark Kospi closed at 1,457.64 -- down 133.56 points, or 8.39 percent, from the previous session. It marked the lowest closing price since July 23, 2009, at 1,496.49 points. The tech-heavy Kosdaq also crashed by 56.79 points, or 11.71 percent, to close at 428.35. It recorded the lowest closing since Oct. 5, 2011,

South Korea’s financial regulator said Thursday that 69 domestic companies have sought audit relief due to shortcomings in their reports for 2019, as the novel coronavirus has undermined their key operations, especially in China. Over two-thirds of companies that have applied for regulatory relief have a presence in China, and determined their filings cannot be completed by March 30, according to the Financial Services Commission. They include tobacco product maker KT&G, light bulb ma