Shares of a South Korean engineering firm skyrocketed on Tuesday on recent reports that it could handle engineering design for projects to reconnect and modernize inter-Korean railways.Shares of Yooshin Engineering, which specializes in railway design and construction, soared 29.92 percent from the previous trading in the morning, hitting a 52-week high. It was being traded at 25,400 won ($22.67) per share on the country’s tech-heavy Kosdaq bourse as of midday. Among several engineeri

South Korea's financial watchdog said Tuesday it will step up efforts to help local banks adopt new global rules on bank capital standards in 2022. Global financial regulators agreed on the new banking regulations, known as Basel III, in 2017 but finally endorsed a revision of some rules earlier this week at a meeting of the Basel's oversight body attended by governors and heads of supervisory bodies, the Financial Supervisory Service said. Basel said the revision will "result in a weighted

Samsung Securities has set up a special desk devoted to dollar-denominated bonds, reflecting South Korea’s growing interest in dollar assets over the US Federal Reserve’s continuing rate hike, the firm said Monday. It aims to provide better guidance to its customers by providing relevant information on the price and currency, the company said. It added that it will help investors to determine the “right timing” to purchase bonds at the market price.  The brokerage ho

About 80 trillion won in ‘shadow banking’ loans may face insolvency amid market downturn

Public concerns over heavy fine dust concentration in recent days have lifted stock prices of local personal care product manufacturers and home appliance makers Monday. Personal care products company Monalisa, which manufactures and distributes face masks for fine dust, jumped 11.39 percent from the previous trading day. It was traded at an opening price of 4,060 won ($3.61) per share.Firms listed on the tech-heavy Kosdaq such as Welcron and Okong, also manufacturers of protective masks al

Woori Bank formally adopts financial holding company structure, pledges immediate acquisition of asset management, real estate investment trusts and saving banks

Trading of South Korean shares is projected to take place within a narrow range this week amid growing concerns about a prolonged US government shutdown and the impending Brexit vote in the UK, which are dampening investor sentiment. The two political risks, combined with lackluster fourth-quarter earnings projected for US and Korean firms, will likely push the main Kospi bourse into a “boxpi” situation, according to analysts. “Boxpi,” a combination of the words “Ko

After the recent Billboard debut of megahit South Korean version of children’s song “Baby Shark,” shares rose Thursday in anticipation of further success in related merchandise. Share prices of Samsung Publishing, the second-largest shareholder of SmartStudy, the local education startup behind the “Baby Shark” phenomenon, rose by more than 20 percent from the previous trading day. Shares of the publishing company, which holds 25.03 percent of SmartStudy, closed at 1

Despite the widespread anxiety due to slowing growth momentum, the global economy is unlikely to face a recession this year, and high yield opportunities continue to exist in the US equity market and emerging markets, according to a US-based asset management company on Wednesday. “Growth momentum is certainly slowing down but when it comes to the question (of) whether such slowdown means a possible recession, our answer is no,” said David Wong, a senior investment strategist at Allia

Drama production firms and content providers are projected to stand out among stocks this year, security firms said, citing the hefty number of shows to be produced in 2019, coupled with Korean companies’ growing partnership with dominant streaming service Netflix.“It would be recommendable to invest in firms that hold a ‘captive’ or their own broadcasting platform, and have already inked a distribution deal with Netflix,” Kim Hyun-yong, an analyst at eBest Investme

South Korea’s Kosdaq Market Committee on Tuesday scrapped Korea Exchange’s plan to delist local pharmaceuticals company Kyung Nam Pharm from the second-tier Kosdaq market, instead giving the company a one-year grace period to improve transparency. A panel led by the Korea Exchange, the nation’s sole market operator, last week suggested Kyung Nam Pharm be pulled from the Kosdaq market over accounting errors that occurred between financial years 2008 and 2013.Due to the erro

South Korea's current account surplus narrowed to a seven-month low in November from a year earlier due to a decrease in the goods account, central bank data showed Tuesday.The country's current account surplus came to $5.06 billion in November, down from $7.43 billion a year earlier, according to the preliminary data from the Bank of Korea. The tally marks the 81st consecutive month of the balance being in the baclk, but it represents the smallest surplus since April when it hit a six-year low

Tension prevailed at KB Kookmin Bank on Monday in the face of an imminent general strike that may dampen the company’s growth momentum and possibly menace its recently recovered position as the nation’s leading commercial bank.The bank’s labor union set out to stage a nationwide strike on Tuesday, as last-minute negotiations fell through on Monday afternoon amid prolonged conflict over the wage system. The walkout -- the first one in 19 years -- is expected to cripple operation

South Korea’s initial public offering market is expected to rebound this year on the back of large companies’ plans to debut shares, after its size sank to a five-year low in 2018, industry watchers said Monday.Among those expected to issue IPOs this year are major firms in their respective fields, Hyundai Oilbank and Kyobo Life Insurance, both of which are likely to make big waves in the market.  With the two, the market is forecast to gain up to about 4 trillion won ($3.6 bill

South Korea's finance minister held a meeting with senior officials Sunday to discuss pending issues, including a former ministry official who claimed to be a public-interest whistleblower.The country's finance ministry has filed a complaint against Shin Jae-min, a former official who claimed that the presidential office Cheong Wa Dae abused its power over the country's leading tobacco maker and the finance ministry.At a weekly meeting, Minister Hong Nam-ki and ministry officials discussed the r