Exports of soju, distilled Korean liquor, topped $100 million for the first time in 10 years in 2023, data showed. According to the Korea Customs Service, outbound shipments of soju reached $101.4 million in 2023, an increase of 8.7 percent from 2022. The last time soju exports surpassed $100 million was in 2013. Soju is a distilled liquor made of ethyl alcohol and water, with the addition of sweeteners. An industry source said soju sold overseas had been mostly consumed by South Korean resident

South Korean stocks snapped a two-day losing streak Thursday on strong performance by chip heavyweights after Nvidia's better-than-expected fourth-quarter earnings. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 10.96 points, or 0.41 percent, to close at 2,664.27. Trade volume was moderate at 445.3 million shares worth 10.1 trillion won ($7.6 billion), with decliners beating gainers 509 to 348. Foreigners and institutions scooped up loc

A court in Montenegro has ruled for the extradition of cryptocurrency entrepreneur Kwon Do-hyung, widely known as "crypto king" Do Kwon, to the United States, according to The Wall Street Journal. Despite Kwon's defense advocating for transfer to his home country of South Korea, the Montenegro court has rejected the plea. Both the US and South Korea have sought his extradition. Kwon's legal team now has a three-day window to challenge the decision, according to the court on Wednesday.

South Korean stocks started a tad higher Thursday as chipmakers traded in positive territory on a strong earnings report from Nvidia overnight. The benchmark Korea Composite Stock Price Index gained 8.21 points, or 0.31 percent, to 2,661.52 in the first 15 minutes of trading. Wall Street stocks were mixed last night as the US central bank's minutes hinted at slower interest rate cuts. The Dow Jones Industrial Average finished 0.1 percent higher, but the tech-rich Nasdaq Composite Index fell

The annual income declared by single-person media creators, such as YouTubers and internet broadcast hosts (BJs), was found to have exceeded 1 trillion won ($7.5 million) in South Korea. A total of 39,366 individuals reported their annual income as single-person media creators in 2022, with the total amount reaching 1.14 trillion won, according to the National Tax Service. The total income of 393 single-person media creators who were in the top 1 percent, was 333.3 billion won, accounting for 29

South Korean stocks finished lower Wednesday with investors waiting for the release of the minutes of the US Federal Open Market Committee's January meeting. The local currency rose against the US dollar. After starting marginally higher, the benchmark Korea Composite Stock Price Index lost 4.48 points, or 0.17 percent, to close at 2,653.31. Trade volume was moderate at 551.7 million shares worth 8.9 trillion won ($6.7 billion), with losers outnumbering winners 553 to 313. Foreigners and re

Toss Bank, the internet-only banking arm of fintech firm Viva Republica, said Wednesday it has appointed Rhee Eun-mi, former chief financial officer of DGB Daegu Bank, as its new CEO. The bank’s CEO recommendation committee picked Rhee as the sole candidate for the next top leadership position in recognition of her deep understanding of the banking industry and excellence in making strategic decisions. “Rhee's achievements, organizational management capabilities, and insight b

South Korean stocks started higher Wednesday on foreign and institutional buying despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index climbed 11.49 points, or 0.43 percent, to 2,669.28 in the first 15 minutes of trading. Overnight, the U.S. stock market lost ground on investors' profit-taking ahead of the earnings release of artificial intelligence chip leader Nvidia. Nvidia is expected to release strong fourth-quarter results later Wednesday thanks to co

South Korean stocks finished sharply lower Tuesday as investors locked in gains after a recent rally. The local currency also fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 22.47 points, or 0.84 percent, to close at 2,657.79, ending a two-day winning streak. On Monday, the index finished at 2,680.26, the highest closing price since May 31, 2022, when it was 2,685.9. Trade volume was heavy at 596.3 million shares worth 9.7 trillion won ($7.2 billion), with losers

South Korean stocks started lower Tuesday as investors hunted for profits following a recent rally. The benchmark Korea Composite Stock Price Index retreated 9.74 points, or 0.36 percent, to 2,670.52 in the first 15 minutes of trading. The main bourse soared more than 1 percent Friday and Monday on the back of strong foreign buying. Market heavyweights traded in negative territory across the board. No. 1 memory chipmaker Samsung Electronics fell 0.41 percent, and leading battery maker LG Energy

South Korean stocks rose more than 1 percent higher for the second straight session Monday on the back of a foreign buying spree. The local currency slightly increased against the US greenback. The benchmark Korea Composite Stock Price Index added 31.5 points, or 1.19 percent, to close at 2,680.26, following a 1.34 percent jump Friday. Trade volume was slim at 413.7 million shares worth 9.6 trillion won ($7.2 billion), with gainers beating decliners 617 to 261. Foreigners were net buyers with 60

Transaction volume in commercial real estate falls amid high rates

South Korean stocks got off to a strong start Monday led by gains from tech and auto shares. The benchmark Korea Composite Stock Price Index moved up 26.98 points, or 1.02 percent, to 2,675.74 in the first 15 minutes of trading. Market bellwether Samsung Electronics rose 0.82 percent, and major chipmaker SK hynix added 0.07 percent. Kia, the country's No. 2 carmaker, increased 1.73 percent, and its auto parts affiliate Hyundai Mobis jumped 3.25 percent. Top oil refiner SK Innovations climbe

The Financial Supervisory Service announced Sunday an updated plan aimed at providing foreign investors with more English information on financial disclosures, as part of efforts to facilitate foreign investment in Korean companies. The initiative to provide English services commenced in January 2023 following a decision by three of the nation’s financial organizations -- the Financial Services Commission, the FSS and the Korea Exchange. As part of this initiative, the FSS began updating

Seoul shares closed higher Friday, as investors placed their bets on a possible rate cut by the US Federal Reserve and US retail sales fell by a wider margin than expected. The Korean won fell against the US dollar. The benchmark Kospi added 34.96 points, or 1.34 percent, to close at 2,648.76. Trade volume was moderate at 584.7 million shares worth 10 trillion won ($7.5 billion), with decliners outnumbering gainers 627 to 249. Foreign investors were net buyers to the tune of 558.4 billion won, w