South Korea's financial regulator said Tuesday geopolitical concerns won't impact financial market stability, while warning that it will sternly deal with spreading unfounded rumors. Jin Woong-sup, chairman of the Financial Supervisory Service, held an emergency meeting earlier in the day as the nation's stocks and currency lost ground over uncertainties centered on North Korea's nuclear and missile programs.In a statement, the regulator said the financial markets have remained "stable with

South Korean stocks traded lower late Tuesday morning following losses from carmakers and mobile carriers.The benchmark Korea Composite Stock Price Index lost 9.46 points, or 0.44 percent, to fall to 2,123.86 as of 11:20 a.m.Carmakers continued to lose ground, with Hyundai Motor and Kia Motors losing 1.71 percent and 0.7 percent, respectively. Top auto parts maker Hyundai Mobis slid 1.8 percent.Mobile carriers also lost ground, with SK Telecom sliding 3.76 percent and KT decreasing 2.79 percent.

South Korean stocks opened nearly flat Tuesday as investors remained concerned over the rising speculation that Pyongyang may stage another nuclear test in the near future.The benchmark Korea Composite Stock Price Index shed 1.82 points, or 0.09 percent, to 2,131.50 in the first 15 minutes of trading.Carmakers were major losers, with Hyundai Motor decreasing 1.37 percent and its autoparts arm moving down 0.9 percent. Kia Motors plunged 0.84 percent.Steelmakers, on the other hand, gained ground,

South Korea’s local currency fell 0.55 percent to close at 1142.2 won against the US dollar Monday, amid growing security tension on the Korean Peninsula.The benchmark Korea Composite Stock Price Index also shed 18.41 points, or 0.86 percent, to close at 2,133.32 with key blue chip losses. LG Electronics moved down 4.23 percent. Major chipmaker SK hynix shed 1.61 percent to close at 49,000 won.North Korea launched an extended range Scud on Tuesday, which US officials said exploded in the a

Foreign banks operating business in South Korea saw their net profits plummet by 39 percent in 2016 from a year earlier, with several of them leaving the country due to mounting losses, government data showed Monday.According to data from the Financial Supervisory Service, the combined net profits of 43 foreign banks here stood at 689.3 billion won ($603.5 million) last year, a 39.1 percent on-year decrease from 1.13 trillion won in 2015. Foreign banks’ net profits grew 16.6 percent on-yea

South Korea's bourse operator said Monday that it has toughened its penalties for tech-laden KOSDAQ firms that falsely disclose information, in a move to try to regain investor confidence. A company listed on the secondary board is designated as an "unfaithful disclosure" firm when it intentionally delays a regulatory filing or reports false information twice a year.The toughened penalties require an "unfaithful disclose" firm to pay a fine of up to 10 million won ($8,769) pe

South Korean stocks traded lower late Monday morning as investors took to the sidelines amid increased geopolitical risks.The benchmark Korea Composite Stock Price Index lost 17.98 points, or 0.84 percent, to 2,133.75 as of 11:20 a.m.Tech shares traded mixed, with Samsung Electronics rising 0.34 percent, while its smaller rival LG Electronics moved down 2.96 percent. Major chipmaker SK hynix shed 0.8 percent. Chemical firms were also losers, with industry leader LG Chem decreasing 0.88 percent.

Foreign investors remained net buyers of South Korean stocks for the fourth straight month in March, led by investors from the United States and Canada, data showed Monday. Offshore investors snapped up a net 3.29 trillion won ($2.88 billion) worth of South Korean stocks last month, according to the data by the Financial Supervisory Service.Massive foreign capital inflows into the local stock market were in part attributed to expectations about solid earnings by big companies in South Korea, wit

South Korean stocks opened lower Monday as key blue chips lost ground.The benchmark Korea Composite Stock Price Index shed 10.96 points, or 0.51 percent, to 2,140.77 in the first 15 minutes of trading.Tech shares mostly fell, with South Korea's No. 2 chipmaker SK hynix moving down 1 percent, and LG Electronics sliding 2.12 percent. Market behemoth Samsung Electronics, on the other hand, managed to climb 0.38 percent.Mobile carriers also gave up ground, with industry leader SK Telecom down 0.59 p

High interest in online banks jitters traditional players amid mixed prospects

Chinese farm equipment-maker Cayman Golden Century Wheel, the fourth Chinese company to be listed on the secondary Korean bourse, closed weaker than expected on its first trading on Thursday. The company’s stock closed at 3,815 won ($3.40), 4.74 percent lower than the market price set at 4,005 won, while Kosdaq inched up 0.15 percent to 661.26 points. It was higher than the initial public offering price of 3,500 won, but lower than expected, experts said. The price of 3,500 won is 6.