Local brokerage believes versatile use of AI in financial services crucial for company’s competitiveness

Kospi logs second-best-performing major index among G20 nations after hitting record low in March

South Korea's stock market advanced a whopping 65 percent over the past six-month period despite the global virus pandemic, on the back of pharmaceutical and technology shares, data showed Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) on Friday ended at 2,412.40 points, up 65.5 percent from six months ago, according to the main bourse operator Korea Exchange (KRX). The country's stock rally marked the second-highest rise among G-20 countries, following Argentina's 87 percent

The Seoul Metropolitan Government said Friday that it is scheduled to accept new applicants for a program that offers office space for foreign financial firms at affordable prices in Yeouido, a financial hub in the city. The municipal government plans to run the Seoul International Financial Office on the 16th floor of the One IFC building. Eligible applicants include foreign or South Korean financial institutions, and finance-related international organizations or nonprofit corporations enter

The stock price of petrochemical-to-battery company LG Chem rebounded Friday after a sharp loss immediately after its announcement during trading hours Thursday that it would split off its battery operation. LG Chem shares climbed 3.3 percent in the Friday trading session. LG Chem is the fifth-largest stock on the main bourse, Kospi, with 47.1 trillion won ($40.6 billion) market cap. The slight recovery came after the Seoul-based company unveiled plans to carve out its battery unit under a ne

South Korean stocks snapped a two-session losing streak on Friday, helped by strong foreign buying that offset individuals' profit-taking rush. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.23 points, or 0.26 percent, to close at 2,412.40. Trading volume was moderate at about 744 million shares worth some 13.7 trillion won ($11.8 billion), with losers outnumbering gainers 433 to 416. After a 1.22 percent drop in the previous session

The Military Mutual Aid Association, which provides pension services for military personnel, has been the most profitable mutual aid association in South Korea for the past three years, business data tracker CEO Score Daily said Friday. Currently, the nation has seven large mutual aid associations, including the Public Officials Benefit Association, the Korea Local Finance Association, the Police Mutual Aid Association and the Korean Teachers’ Credit Union. The MMAA’s return on

South Korean stocks opened higher Friday, led by a rebound in battery and bio heavyweights.  The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.25 percent, to 2,412.2 in the first 15 minutes of trading.  The KOSPI rebounded after the index lost 1.22 percent in the previous session.  Battery and biopharmaceutical large caps fared strong, while auto-related shares dipped.Leading chemical company LG Chem jumped 2.33 percent, a day after it announced its decisi

The International Olympic Committee has sent a congratulatory letter to life insurance firm Kyobo Life Chairman Shin Chang-jae, who has been appointed as the organizing chief for the Gangwon 2024 Winter Youth Olympic Games. While congratulating Shin’s appointment, Thomas Bach, the IOC president, expressed expectations for the quadrennial global sports event, which is scheduled to be held in Gangwon Province. “Considering the chairman’s contributions to youth sports and cult

The amount of money local retail investors have poured in the local and overseas stock markets has reached more than 100 trillion won ($85.2 billion), according to data released by the nation’s sole securities operator Korean Exchange on Thursday. Individual traders bought a total of 55.9 trillion won in the local market this year as of Wednesday. Of the total, 43.5 trillion won went to the main bourse Kospi, and the rest, or 12.4 trillion won, to the tech-heavy Kosdaq. Investor deposit

South Korean stocks decreased more than 1 percent Thursday, as more investors turned to profit-taking that stemmed from tech valuation concerns. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 29.75 points, or 1.22 percent, to close at 2,406.17. Trading volume was moderate at about 834 million shares worth some 13.9 trillion won ($11.8 billion), with losers outnumbering gainers 655 to 200. Foreigners sold a net 126 billion won, whil

To facilitate remote working amid the prolonged COVID-19 pandemic, the nation’s financial watchdog will ease restrictions on external access to network systems at local financial companies.  The Financial Supervisory Service said Thursday it would allow employees to stay connected to the company’s internal communication software throughout the day by revising the regulations on the supervision of electronic finance, which stipulate the so-called “network separation syst

South Korean stocks opened lower Thursday, taking a cue from overnight losses on Wall Street that stemmed from tech valuation concerns. The benchmark Korea Composite Stock Price Index fell 11.69 points, or 0.58 percent, to 2,424.23 in the first 15 minutes of trading. Despite the US Federal Reserve's signal to keep the near-zero rate till 2023, the local stock market remained bearish. The Nasdaq Composite retreated 1.25 percent to 11,050.47 points on Wednesday (New York time). The S&P 50

South Korean stocks ended their four-session winning streak on Wednesday, as investors rushed to reap profits from the recent stock rally. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 7.66 points, or 0.31 percent, to close at 2,435.92. Trading volume was moderate at about 755 million shares worth some 11.6 trillion won ($9.9 billion), with losers outnumbering gainers 543 to 308.' Institutions dumped a net 328 b

Top internet-only bank’s value exceeds four major financial groups’ total market cap