South Korean stocks closed higher Thursday on strong gains by 'untact' businesses prompted by fears over a prolonged pandemic, analysts said. The Korean won stayed flat. The benchmark Korea Composite Stock Price Index (KOSPI) rose 9.02 points, or 0.42 percent, to close at 2,167.90. Trading volume was moderate at about 609 million shares worth some 12.8 trillion won ($10.7 billion), with losers outnumbering gainers 421 to 417. Foreigners sold a net 33 billion won, while retail investors purcha

Shares of Kakao, Naver hit 52-week high, market watchers expect further rises

South Korea’s National Pension Service has bagged more domestic chemical stocks over the course of three months, filings showed Thursday. The world’s third-largest public pension fund increased its exposure to chemical stocks dedicated to second-life electric vehicle batteries -- such as LG Chem, Posco Chemical and Korea Petrochemical Ind. -- from April until Tuesday, according to respective disclosures. LG Chem has been vying to be the world’s top passenger vehicle cell s

South Korean shares opened higher Thursday, apparently tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.93 points, or 0.60 percent, to 2,171.81 in the first 15 minutes of trading. Global recovery hopes boosted investor sentiment, leading to general gains on the US stock indices. The NASDAQ Composite jumped 1.44 percent Wednesday (New York time), setting another record at 10,492.50. The Dow Jones Industrial Average added 0.68 percent, w

South Korean stocks closed lower for a second straight day on Wednesday as investor sentiment was dented by concerns over a delay in economic recovery amid spikes in virus cases, analysts said. The Korean won rose slightly against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) fell 5.29 points, or 0.24 percent, to close at 2,158.88. Trading volume was high at 670 million shares worth some 11.4 trillion won ($9.5 billion), with gainers outnumbering

Hyundai Card said Wednesday it has joined forces with delivery platform operator Woowa Brothers to launch a credit card that provides tailored benefits for food-delivery service Baedal Minjok. A credit card specifically designed for a food-delivery service is the first of its kind here. Commerce companies and airlines, including eBay Korea, Korean Air and Starbucks Korea, have issued a similar private label credit card. “Baedal Minjok and Hyundai Card will keep working together to offe

Stricter jeonse loan regulations will be imposed starting from Friday, the nation’s financial regulator said Wednesday, adding more pressure on the real estate market as it already faces a series of measures set to curb soaring housing prices. The latest version restricts jeonse loan guarantees and bans loan requests by buyers who already own a house in high speculation areas.  The move came in line with the 21st set of housing price regulations imposed under the Moon Jae-in admini

South Korean stocks opened nearly flat Wednesday following overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 0.44 points, or 0.02 percent, to 2,164.61 in the first 15 minutes of trading. Major US stock indices ended their winning streaks on Tuesday (local time) as a recent surge in the number of novel coronavirus cases dented hopes for a quick economic recovery. Negative economic forecasts from the Organization for Economic Cooperation and Development and

Coworking space giant WeWork said Tuesday that it plans to upgrade its online startup acceleration programs in a bid to support local firms that aim to expand overseas. WeWork Korea held online forums, workshops and conferences this year to connect venture capitalists and industry experts with fledgling startups via its WeWork Labs platform, which offers budding firms access to seasoned experts, investors and other peers through mentoring programs and networking events. WeWork began the Labs

South Korean stocks fell by more than 1 percent Tuesday amid growing fears over the resurgence of the new coronavirus at home and overseas. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 23.76 points, or 1.09 percent, to close at 2,164.17, ending its three-session winning streak. Trading volume was high at about 837 million shares worth some 14.7 trillion won ($12.3 billion), with losers outnumbering gainers 581 to 263. The index erased

South Korea’s top financial regulator Tuesday vowed to induce fair competition between conventional financial companies and Big Tech groups, in preparation for the forthcoming digital shift in the local financial industry. “Responding to the non-face-to-face trend triggered by the COVID-19 outbreak, a growing number of major technology companies, or Big Tech, have been pursuing (new opportunities) from the financial services industry,” said Financial Services Commission Chair

SK Biopharmaceuticals shares continued to soar on Tuesday, outpacing its parent company SK Holdings by market capitalization on the nation’s main bourse Kospi. Shares of the bio unit of South Korean conglomerate SK Group began trading at 214,500 won ($179.85), then spiked by 51,500 won, up 24.01 percent, to reach 266,000 won in the first 10 minutes of trading. The stock was still on the rise but slightly fell to 216,500 won, at the closing bell. Due to the stock rally, the firm’s

South Korean stocks opened higher Tuesday, tracking an overnight stock rally in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.41 points, or 0.75 percent, to 2,204.34 in the first 15 minutes of trading. Investor sentiment was boosted by hopes of the global economic recovery, buoyed by bullish stock gains in the United States and China. On Monday, the Shanghai Composite Index spiked 5.71 percent, the steepest hike since 2015, after Chinese state media empha

Amid growing concerns over the security of online payment services, Viva Republica, operator of online bank Toss, said Monday that it would fully compensate its customers who fall victim to any type of financial fraud. The move came after unauthorized payments worth 9.4 million won ($7,860) were made on the financial technology platform in early June, raising questions over the safety of the mobile payment system. “Transactions via Toss should be considered safer than face-to-face bank

South Korean shares rallied Monday on hopes of economic recovery led by the government's extra budget and possible robust earnings from tech companies. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 35.52 points, or 1.65 percent, to close at 2,187.93. Trading volume was high at about 659 million shares worth some 12 trillion won ($9.6 billion), with gainers outnumbering losers 573 to 267. Foreigners sold a net 258 billion won and indivi