South Korea‘s stock market narrowed down losses in the early morning session on Friday as retail trading has nearly offset lingering bond yield concerns in the United States. The Korea Exchange’s main board Kospi shed 0.6 percent to close at 3,026.26 points, as Kospi was down 2 percent in early morning trade. The development board Kosdaq inched down 0.3 percent in closing, reducing from 2 percent in the morning. Retail investors here continued to be active in trading. On Friday, l

South Korean stocks opened lower Friday on overnight Wall Street losses, as investors were disappointed by the absence of comments from the US Federal Reserve to help stave off inflation concerns. The benchmark Korea Composite Stock Price Index fell 39.41 points, or 1.29 percent, to 3,004.08 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite dipped 2.11 percent as yields of the US benchmark 10-year Treasury surged above the 1.5-percent threshold. In Seoul, t

South Korean conglomerate SK Group will set up a company to run a real estate investment trust, or REIT, this month, according to reports Thursday. A REIT owns or finances real estate property to generate income, and allows investors to partially own valuable real estate and receive dividends. SK Holdings, the holding company of SK Group, is expected to obtain approval to establish the REIT later this month. After setting up a new subsidiary as early as this month, it will likely launch a RE

Consulting firm McKinsey & Company on Wednesday said they have hired Park Joong-ho, former head manager of Oliver Wyman’s Korea office, as a new partner here. Park worked at Oliver Wyman, a consulting firm specialized in financial services companies, for 15 years and led the company for more than three years until December 2020.  At Oliver Wyman, he provided consulting services to financial institutions and governmental organizations in areas such as digital transformation, glo

South Korean stocks snapped its two-day winning streak Thursday as investor sentiment weakened over concerns of increasing US Treasury yields. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 39.5 points, or 1.28 percent, to close at 3,043.49 points. Trading volume was moderate at about 1.3 billion shares worth some 16.8 trillion won ($14.9 billion), with losers outnumbering gainers 505 to 358. Foreigners sold a net 928 billion won, w

Union demands FSS chief resign over “failed personnel management”

South Korean digital health platform developer LifeSemantics said Thursday it is looking to raise up to 12.5 billion won ($11.11 million) worth of fresh funds by going public. The firm plans to make a market debut on the nation’s tech-heavy Kosdaq market at the end of this month. Founded in 2012, LifeSemantics has focused its business on health information and technology, and artificial intelligence-powered programs. Its main platform “LifeRecord” provides MyData, digital ther

South Korean stocks opened steeply lower Thursday, taking a cue from the overnight tech drop on Wall Street that was spurred by increased bond yields. The benchmark Korea Composite Stock Price Index fell 35.89 points, or 1.16 percent, to 3,047.1 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite dipped 2.7 percent, with the S&P 500 and the Dow Jones Industrial Average retreating 1.31 percent and 0.55 percent, respectively. Top cap Samsung Electronics lo

The resurgence of cryptocurrency trading as well as upcoming changes in law that mandate investments in bitcoins be made with accounts under real names are likely to provide new opportunities for commercial lenders seeking new income sources. But many are still reluctant to make ties with crypto exchanges, citing risks in the volatile market and lack of confidence over forging partnerships with smaller crypto exchanges here. Currently, three banks -- Shinhan, NH Nonghyup and K bank -- are in p

South Korean stocks finished higher Wednesday on strong institutional buying amid mixed prospects of a post-pandemic bond yield hike. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 39.12 points, or 1.29 percent, to close at 3,082.99 points. Trading volume was moderate at about 2.2 billion shares worth some 13.9 trillion won ($12.4 billion), with gainers outnumbering losers 655 to 206. Institutions bought a net 691 billion won, while for

E-commerce giant’s IPO pricing is expected to be determined on March 10

South Korean stocks opened slightly higher Wednesday as investors took a wait-and-see mode over prospects of a post-pandemic bond yield hike. The benchmark Korea Composite Stock Price Index rose 3.88 points, or 0.13 percent, to 3,047.75 points in the first 15 minutes of trading. The KOSPI got off to a muted start after the three key stock indexes on Wall Street dipped over speculation of early inflation, heralded by a bond yield hike late last week. Overnight, the tech-heavy Nasdaq Composit

South Korean stocks rebounded from last week's sharp plunge Tuesday to end 1 percent higher on eased inflation concerns, but they pared part of earlier gains in the face of profit-taking. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.92 points, or 1.03 percent, to close at 3,043.87 points after rising as high as to 3,096.50. Trading volume was moderate at about 1.7 billion shares worth around 18.5 trillion won ($16.5 billion), with g

Coupang Inc. looks to raise as much as $3.6 billion in fresh funds via an initial public offering, which would likely be among the largest deals in the US market this year. In a regulatory filing submitted to the US Securities and Exchange Commission on Monday there, Coupang Inc. said it plans to offer 120 million shares -- 100 million new Class A shares in the IPO and 20 million shares to existing investors -- in a price band between $27 and $30. The firm will consist of two classes of commo

Anticipation for the listing of South Korean e-commerce firm Coupang has been growing as the company’s initial public offering, which will be the fourth largest of an Asian firm on the New York Stock Exchange, is just around the corner. Although the Korean firm based in Seoul has not yet announced the exact IPO date, it is said to have decided to list its shares next week, a source familiar with the matter told The Korea Herald. “The listing date has been set for March 10,&rdquo