K-Auction subsidiary submits regulatory filing for fractional investment in Yayoi Kusama's W1b painting

Korean convenience store chain CU said Monday that it has opened a new store that specializes in ramen, in an industry first, in Mapo-gu, western Seoul. More than 200 different instant noodle products are displayed, and customers can cook and eat the ramen of their choice for an additional 900 won ($0.70) for the disposable cup. Operator BGF Retail said the new store also aims to cater to foreign travelers amid their increased interest in Korean food. (BGF Retail)

Seoul shares opened higher Monday amid increasing hopes the US Federal Reserve is set to end its rate-hike cycle. The benchmark Korea Composite Stock Price Index rose 14.43 points, or 0.58 percent, to 2,519.44 in the first 15 minutes of trading. On Friday, all three major US indexes rallied on growing optimism that the Federal Reserve is done raising interest rates. The S&P 500 rose 0.6 percent to hit its highest level in over a year, the Dow Jones Industrial Average jumped 0.8 percent, and

South Korea's domestic consumption is expected to slow down further after local service sector output posted the lowest-level growth in 32 months in November amid high rates and high inflation, government data showed Sunday. Output in the service sector grew 0.8 percent last month compared to the same month of last year, marking the lowest on-year monthly growth since reporting a 0.8 percent decline in February 2021, according to data from Statistics Korea. Services output began to increase

Foreign nationals pick up W2.62tr of Kospi shares over past month, with Samsung, SK hynix as top picks

South Korean stocks tumbled more than 1 percent Friday as semiconductor and battery shares took a cue from overnight losses in US heavyweights, like Nvidia and Tesla. The local currency sharply fell against the US greenback. The benchmark Korea Composite Stock Price Index lost 30.28 points, or 1.19 percent, to close at 2,505.01. Trading volume was moderate at 504 million shares worth 8.6 trillion won (US$6.59 million), with losers outpacing winners 489 to 386. Institutions and foreigners led the

South Korean stocks opened sharply lower Friday led by losses from chip and battery shares, bucking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index lost 24.49 points, or 0.97 percent, to fall to 2,510.8 in the first 15 minutes of trading. The US stocks continued their November rally on optimism that the Federal Reserve is set to end its hawkish mode. The Dow Jones Industrial Average jumped 1.5 percent, and the S&P 500 gained 0.4 percent. In Seoul, market bellw

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South Korean stocks started lower Thursday, as investors are waiting for the central bank's key rate decision later in the day. The benchmark Korea Composite Stock Price Index lost 7.98 points, or 0.32 percent, to 2,511.83 in the first 15 minutes of trading. In a rate-setting meeting, the Bank of Korea is widely expected to keep the rate unchanged at 3.5 percent. Major shares went south, with market bellwether Samsung Electronics falling 0.28 percent and LG Energy Solution, the second-bigge

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

South Korean stocks opened a tad lower Wednesday ahead of the central bank's rate-setting meeting. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.02 points, or 0.44 percent, to 2,510.74 in the first 15 minutes of trading. Overnight on Wall Street, US stocks climbed modestly on a dovish comment by a Federal Reserve official, with the Dow Jones Industrial Average edging up 0.24 percent and the Nasdaq Composite adding 0.29 percent. The Bank of Korea is set to decide on its pol

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio

South Korean liquor giant HiteJinro said Tuesday it is expanding its distribution network of soju products in the UK as part of efforts to strengthen its market presence in Europe. Since last week, HiteJinro has started selling its Jinro Green Grape Soju and Jinro Peach Soju at 88 Sainsbury's stores and via online shopping portals, including Sainsbury's Online and Ocado, the company said. According to HiteJinro, the company's distilled spirit exports to the UK have been increasing