With KB Financial Group Inc.'s extraordinary shareholders meeting 10 days away, a global corporate advisory firm has objected to two agenda items offered by the major banking group's labor union, industry sources said Thursday.In a recent report, US-based Institutional Shareholder Services Inc. has advised shareholders to vote against the nomination of a union-selected lawyer with a history of civil activism and politics as an outside director.The company has also expressed its opposition to the

South Korea's main stock market has been the third-best performer among bourses in major advanced and emerging countries this year despite its recent drop, data showed Thursday.The benchmark Korea Composite Stock Price Index fell for the second session to close at 2,545.44 on Tuesday on profit-taking after touching an all-time high on Friday, according to the data by the Korea Exchange.Yet Tuesday's close was up a whopping 25.6 percent from the end of last year, posting the third-highest gain am

South Korean stocks finished higher Wednesday, led by advances in large cap tech shares, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index rose 6.96 points, or 0.27 percent, to close at 2,552.4. Trade volume was moderate at 273 million shares worth 5.6 trillion won ($5 billion) with gainers outnumbering losers 409 to 374.The local stock market opened lower due to declines in financial and chemical shares, but the index turned higher followin

The government plans to provide more cheap loans to support low income earners and allow them to defer debt repayments if they lose their jobs or are forced shut down their business, the financial regulator said Wednesday. Choe Heung-sik, governor of the Financial Supervisory Service, made the remark at a job fair for low income earners. Financial authorities have stepped up efforts to cut the financial burden on vulnerable borrowers, as the Bank of Korea is expected to raise its key rate in the

South Korean stocks opened lower Wednesday, driven by losses in large cap financial and chemical shares. The benchmark Korea Composite Stock Price Index shed 5.23 points, or 0.21 percent, to 2,540.21 in the first 15 minutes of trading. Leading life insurer Samsung Life Insurance plunged 1.12 percent, and LG Chem, a major chemicals company, declined 0.86 percent.No. 1 steelmaker POSCO also dropped 1.23 percent.Market kingpin Samsung Electronics, meanwhile, advanced 0.04 percent, and SK hynix, a g

Seoul shares closed lower Tuesday, as investors took to the sidelines awaiting the results of a bilateral summit between the leaders of South Korea and the United States, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index shed 3.97 points, or 0.16 percent, to close at 2,545.44. Trade volume was moderate at 236 million shares worth 5 trillion won ($4.5 billion) with losers outnumbering gainers 435 to 368.The local stock market opened marginall

South Korea's insurance industry will face a "disruptive change" if the nation's central bank raises interest rates, a senior official at the financial regulator said Tuesday. The Bank of Korea is expected to raise its key rate in coming months, marking its first tightening in more than six years. Kim Yong-beom, vice chairman of the Financial Services Commission, told a forum on the insurance industry, "You see in Korea, the biggest disruptive change to our insurance industry emer

Prosecutors said Tuesday they raided the headquarters of Woori Bank in central Seoul as part of their probe into alleged illicit recruitment of staff. The Seoul Northern District Prosecutors' Office sent its investigators to confiscate documents and other evidence from the bank chief's office and its human resources department, it said.  The major South Korean lender is accused of hiring 16 entry-level staff last year who are related to powerful former and incumbent ranking officials from t

Major foreign investment banks have revised upward their growth forecasts for the South Korean economy on its brisk exports and better-than-expected expansion for the third quarter, a report showed Tuesday.  According to the report by the Korea Center for International Finance, Barclays, JP Morgan, Goldman Sachs, Nomura and five other foreign IBs forecast Asia's fourth-largest economy to grow at an average rate of 3 percent in 2017. The forecast, made at the end of last month, is up from th

South Korean stocks finished lower Monday, as investors opted to cash in recent gains after the main bourse closed at a record high the previous session, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 8.56 points, or 0.33 percent, to close at 2,549.41. Trade volume was moderate at 209 million shares worth 5 trillion won ($4.48 billion), with losers outnumbering gainers 488 to 324.The local stock market opened lower despite a rally in

South Korea's top financial regulator said Monday it will draw up measures by the end of this year to encourage the nation's state pension fund to invest more in the KOSDAQ market. Choi Jong-ku, chairman of the Financial Services Commission, made the remarks during a meeting with executives of financial firms and lawmakers. Financial authorities have considered giving tax breaks and easing listing rules to boost the KOSDAQ in a bid to help promising new companies raise funds on the market. 

Foreign players account for 40 percent of the South Korean brokerage industry as they push to boost their presence here amid a series of local firms' shutdowns and mergers, the financial regulator said Monday.According to the Financial Supervisory Service, 22 foreign securities companies and branches were in operation in the country as of the end of September this year, with the overall number of industry players reaching 55.Of the foreign companies, 11 were wholly owned subsidiaries with the re

Woori Bank convened a temporary meeting of board members and tapped Sohn Tae-seung as acting chief to overcome the leadership vacuum caused by the sudden resignation of its CEO.The move to name Sohn, who is the lender's executive vice president and head of global business group, comes days after Woori president Lee Kwang-goo apologized to the public and tendered his resignation over alleged irregularities in hiring new employees last year. There have been suspicions that employees of the lender

Following the government’s recent announcement it plans to increase fiscal support for innovative startups and venture firms and revitalize second-tier markets, the Kosdaq has slowly rebounded, closing above the 700-marker last week for the first time in a year and two months. 　And will the nation’s tech-heavy stock market get a boost from the government’s venture support? Some experts gave a positive outlook.　According to industry experts, while stock buying is likely to slow

South Korean stocks are expected to trade stronger next week as expectations of better Seoul-Beijing relations could help exporters, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,557.97 on Friday, up 2.45 percent from the previous week.On Monday, the bourse set a new record with its index closing above the 2,500-level mark for the first time since it opened in 1983. The record-breaking performance was widely attributed to the strength of technology shares.Mar