South Korean stocks are expected to show high volatility next week as pessimism over a global slowdown will dominate investors' sentiment here, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,010.25 points on Friday, down 30.79 points, or 1.5 percent, from a week earlier. On Wednesday, the first day of trading of 2019, the stock market experienced a more than 30-point plunge as China-originated growth concerns swept the world.Next day, KOSPI surrendered th

South Korea’s top-tier stock market Kospi closed below the 2,000 mark on Thursday, marking a two-year low, pulled down by foreign investors’ stock dumping and heightened fears of an economic slowdown, illustrated by Apple’s pessimistic revenue outlook. The main bourse index closed at 1,993.7, down 16.3 points, or 0.81 percent, from the previous session’s close. It had fluctuated above and below the 2,000 mark throughout the day, after its first dip under at 9:59 a.m. 

South Korea’s top five banks have set out to compete for increased profitability in 2019 as they gain new momentum with group-wide reforms, executive reshuffles, structural realignment as well as strategic mergers and acquisitions.　KB Financial Group, which has been Korea’s most profitable bank since 2017, will concentrate on defending its leading status in the industry by continuing to post stable profits and boosting its share value.This was evident in KB Financial Group Chairman Y

Softbank Ventures Korea, the local venture capital arm of Japan’s Softbank Group, has rebranded itself to build a presence across Asia, the firm said Thursday. Now Softbank Ventures Asia, the company plans to open offices and hire investment professionals in Singapore and Shanghai. It currently operates out of Seoul, Beijing, San Francisco, and Tel Aviv.  Upon being launched in 2000, the company initially focused on tech venture investments in South Korea, but soon turned its attentio

South Korea’s top-tier stock market Kospi dipped below the 2,000-point barrier on Thursday, according to Korea Exchange, pulled down by foreign investors’ stock dumping. The benchmark index hit 1,999.93 at around 9:59 a.m. The last time the figure fell lower than the 2,000 mark was on Oct. 30. The main bourse opened at 2,011.81, which was 1.81 points higher than the previous day’s close. But it sharply dipped below 2,000 within an hour.By Jung Min-kyung (mkjung@heraldcorp.

The finance ministry said Wednesday that it filed a complaint against a former junior official for leaking secrets, which he claimed was whistleblowing aimed at serving the interest of the public. The Ministry of Economy and Finance took legal action against Shin Jae-min on charges of divulging official secrets and violating the public records management act. The prosecution did not immediately say when it will begin its probe into the case. The ministry's move came after the 33-y

South Korea’s finance industry is bracing itself for a year of stunted growth, as it foresees growing global economic uncertainties and concerns over profitability in the new year. With a fresh sense of alarm, the chiefs of the country’s biggest banks plan to tackle the oncoming challenges by further embracing digital innovation and overseas business expansion.Korea Federation of Banks Chairman Kim Tae-young said in his New Year’s message that “it will be difficult for th

SEJONG - South Korea’s small individuals have continued to express their discontent with a systematic practice on the local stock market in which foreign and domestic institutions take huge gains via the short-selling skill.Short selling is a legitimate trading skill. Generally, institutions can reap gains by dumping borrowed stocks and repurchasing them at far lower prices later, which is dubbed short covering. After making these gains, the institutions hand back the shares to the origina

Lotte Card said Tuesday that it has become the first South Korean credit card operator to offer consumer financing services in Vietnam as part of its mid- and long-term plans to expand its business operations in the Southeast Asian region.South Korea’s fifth-largest credit card company in terms of net assets held a ceremony in Hanoi on Dec. 18 to celebrate the launch of Lotte Finance Vietnam, according to company representatives. Since establishing its local office in 2009, Lotte Card has

The thick glass ceiling in the finance industry of South Korea got a few more cracks in the last month, with the latest reshuffles in the country’s leading banking and securities brokerage companies having nominated women leaders to the top posts.The nomination of Park Jeong-rim as the co-CEO of KB Securities on Dec. 19 marked another leap forward, as she is set to become the first female CEO of a brokerage firm in Korea. Her nomination awaits approval in the upcoming general shareholders&

The head of the financial watchdog said Monday that he will prioritize the management of potential risks in the financial sector in the new year to better support economic growth.Financial Supervisory Service Gov. Yoon Suk-heun made the pledge in his New Year's message, saying that a financial crisis "could break out at any time." "We have to guard against the possible spread of shocks in the financial system to the real economy," Yun stressed, vowing to establish "fair

South Korea's finance minister vowed Monday that every effort will be made to help companies make investments in the new year as Seoul seeks to revitalize its economy.The comments by Hong Nam-ki came as Asia's fourth-largest economy is struggling to create jobs and boost the economy. The government has said it will speed up administrative procedures to ensure quick implementation of major corporate investments worth 6 trillion won ($5.3 billion), including a 3.7 trillion-won project by Hyundai M

South Korea's central bank chief said Monday that an accommodative monetary policy will be maintained in the new year in the face of low inflationary pressure and slowing economic growth."It is necessary to maintain the accommodative monetary policy as the economy will likely pull off upper 2 percent growth and the inflationary pressure will remain low," Bank of Korea Gov. Lee Ju-yeol said in his New Year's message. "The BOK will carefully watch the pace of economic growth, inflat

Share prices of most listed companies backtracked in 2018 compared with the end of last year, data by South Korea's bourse operator showed Sunday.According to the Korea Exchange, of the 879 companies traded on the main KOSPI exchange, only 252 posted gains throughout the year, while 626, or 71.2 percent, reported a drop in stock prices. There was one company whose share prices remained unchanged from late 2017.The KRX excluded newly listed companies and those that were removed from the stock mar

South Korea's stock market fared ill this year compared with major countries amid global economic uncertainties, data showed Saturday.Of the 20 major countries in the world, South Korea came in 17th in terms of the growth rate of its key stock index by tumbling 17.79 percent this year, according to the data from the Korea Exchange.Brazil topped the list as its key index spiked 11.86 percent this year, followed by Saudi Arabia with a 7.24 percent increase and India rising 5.14 percent in 2018.Exc