SEOUL, Dec. 7 (Korea Bizwire) – With a parliamentary vote to impeach President Park Geun-hye two days away, the glare of investor attention is focused on its outcome with a rejection more likely to increase stock market volatility than a passage, analysts said Wednesday. Opposition parties and some ruling party lawmakers are slated to put [...]
SEOUL, Nov. 29 (Korea Bizwire) – A bill was proposed stiffening monetary penalties and prison sentences for illegal stock trading made with inside information and price manipulation, people in the financial community said Monday. The bill submitted by Rep. Kim Young-joo of main opposition Democratic Party would allow monetary fines in the amount two to [...]
SEOUL, Nov. 25 (Korea Bizwire) – It’s been a month since Korea began the pilot operation of a robo-advisor for financial investments, and thus far, it has left some positive impressions. According to Koscom, an IT solution company that’s overseeing the test bed, the AI-based system managed to make a profit on all portfolios investing [...]
SEOUL, Nov. 21 (Korea Bizwire) – South Korean shares of cosmetics and entertainment companies closed lower on Monday amid concerns over Chinese state-sanctioned retaliatory measures against Korea’s deployment of an American THAAD battery. Big-name K-pop producers, including SM (-8.16 percent), YG (-6.9), and JYP Entertainment (-2.79); film distributors and producers such as Showbox (-14.57) and [...]
SEOUL, Nov. 14 (Korea Bizwire) – The Bank of Korea base rate dropped in June to a record low 1.25 percent. Commercial institutions followed suit, adjusting their interest rates. And as of September, no banks offered time deposit accounts with 2 percent or higher interest rates. Saving in Korea is no longer a lucrative business. [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korean shares plunged Wednesday as Republican presidential candidate Donald Trump won the White House. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index shed 45.00 points, or 2.25 percent, to 1,958.38. The index fell to an intraday low of 1.931.07 during the [...]
SEOUL, Nov. 3 (Korea Bizwire) — The National Pension Fund (NPF), South Korea’s largest institutional investor, is expected to inject some 1 trillion won (US$870.5 million) into the stock market this month, financial sources said Thursday, a welcome booster to the market in need of positive energy. According to the sources, the pension operator is [...]
SEOUL, Nov. 3 (Korea Bizwire) — Growing household debt and a looming U.S. rate hike are two major systemic risks facing South Korea’s financial system, a survey showed Thursday. The household debt issue topped the list of key systemic risks cited by market watchers at 70 percent, compared with 54 percent in April, according to [...]
SEOUL, Nov. 3 (Korea Bizwire) — Samsung BioLogics, a biopharmaceutical unit of Samsung Group, and Doosan Bobcat Co., an affiliate of power equipment conglomerate Doosan Group, are set to make their market debuts this month, which some analysts say may help the local stock market recover from a recent market turmoil. Last week, Samsung BioLogics, [...]
SEOUL, Nov. 2 (Korea Bizwire) – The latest report from the Korea Capital Market Institute (KCMI) revealed that the Q2 2016 balance of overseas stock investment by domestic residents was $159.3 billion, an almost four-fold increase since Q1 2009, shortly after the 2008 financial crisis. According to the institute, the trend was largely driven by [...]