SEOUL, July 9 (Korea Bizwire) — The chief of the pharmaceutical group Celltrion saw the value of his stock holdings rise the most among the heads of South Korea’s major business groups in the first half, data showed Thursday. Seo Jung-jin held 5.85 trillion won (US$4.9 billion) worth of listed shares in group flagship Celltrion [...]
SEOUL, July 6 (Korea Bizwire) – Kakao Pay, a mobile payment platform operated by South Korean IT behemoth Kakao Corp., will be introducing a more customer-friendly policy in the event of identity theft, which is on the rise as consumer payment patterns shift online. According to sources knowledgeable with the company, Kakao Pay will offer [...]
SEOUL, July 5 (Korea Bizwire) – South Korea’s gold turnover reached an all-time high in the first half of 2020 as investors flocked to safer assets amid the coronavirus pandemic around the globe, data showed Sunday. The combined turnover on the gold bourse stood at 710 billion won (US$591 million) over the January-June period, exceeding [...]
SEOUL, July 2 (Korea Bizwire) — SK Biopharmaceuticals Co. Ltd., the largest initial public offering (IPO) of the year so far, made a strong market debut Thursday, finishing at more than two times the IPO price. The unit of South Korean conglomerate SK Group closed at 127,000 won (US$105), rising by a daily permissible limit [...]
SEOUL, June 28 (Korea Bizwire) — Investment funds in South Korea are suffering from a large outflow of cash in a sharp contrast to rising direct investment by individuals, financial industry data showed Sunday. Some 1,863 investment funds had 86.5 trillion won (US$71.8 billion) in assets under management as of Thursday, down 12.97 trillion won [...]
SEOUL, June 28 (Korea Bizwire) — Newly listed stocks enjoyed substantial gains in the first half this year, fueling an investor rush amid volatile market trends, data showed Sunday. A total of 12 companies made debuts on the main KOSPI and the tech-laden KOSDAQ markets, nine of which far exceeded their IPO prices, according to [...]
SEOUL, June 14 (Korea Bizwire) — U.S. dollar-denominated deposits at South Korean banks have risen nearly 30 percent since February as investors have chased after safer assets amid the new coronavirus outbreak, industry data showed Sunday. Outstanding dollar deposits at five local banks reached US$47 billion as of Thursday, up 28 percent from $36.6 billion [...]
SEOUL, June 14 (Korea Bizwire) — Dividend payouts by listed firms in South Korea dropped in March from a year ago amid coronavirus uncertainties, with the upcoming June interim payouts also expected to decline, data showed Sunday. A total of 18 listed companies paid a combined 2.68 trillion won (US$2.23 billion) to their shareholders for [...]
SEOUL, June 8 (Korea Bizwire) — South Korea’s main stock index hit the highest level in valuation since 2002, highlighting stock prices’ roller-coaster gains compared with the actual earnings of the pandemic-hit companies, analysts said Monday. The price-to-earnings ratio (PER) of the benchmark Korea Composite Stock Price Index (KOSPI) stood at 25, the highest since [...]
SEOUL, June 8 (Korea Bizwire) — Earnings forecasts for South Korea’s listed firms rebounded from a long downturn last week amid rising hopes for their possible exit from the coronavirus shock, a market tracker said Monday. Companies listed on the country’s main stock market saw the average estimate of their earnings per share (EPS) for [...]