SEOUL, March 28 (Korea Bizwire) — Battery maker LG Energy Solution Ltd. (LGES) has been the most shorted South Korean stock since Russia launched its invasion of Ukraine. According to the Korea Stock Exchange, the amount of short sale transactions of LGES totaled 921.7 billion won (US$753 million) during the period from March 11, when [...]
SEOUL, March 23 (Korea Bizwire) — South Korea’s overseas direct investment hit a record high last year as the global economy recovered from the fallout of the COVID-19 pandemic, data showed Wednesday. The value of investments made by South Korean companies reached US$75.87 billion last year, up 32.8 percent from a year earlier, according to [...]
SEOUL, March 21 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Monday it has started the process of its initial public offering, slated for the first half of next year. SK ecoplant, a unit of SK Group, South Korea’s third-largest conglomerate, said it had sent invitations to major domestic and overseas brokerage houses [...]
SEOUL, March 21 (Korea Bizwire) — Brokerage firms in South Korea saw their net profit grow sharply last year thanks to increased transactions fees, data showed Monday. According to the data from the Financial Supervisory Service, 58 brokerage firms reported 9.09 trillion won (US$7.5 billion) in their combined net profit last year, up 54.2 percent [...]
SEOUL, March 19 (Korea Bizwire) — South Korean stock markets are expected to gain ground next week, as investors are likely to snap up oversold stocks amid eased uncertainty about the U.S. monetary policy and optimism for the Russia-Ukraine peace talks, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,707.02 [...]
SEOUL, March 16 (Korea Bizwire) — Banks in South Korea saw their combined net profit surge about 40 percent in 2021 thanks to increased interest income from the central bank’s rate hikes, data showed Wednesday. The combined net profit of 20 local banks came to 16.9 trillion won (US$13.6 billion) in 2021, up 39.4 percent [...]
SEOUL, March 14 (Korea Bizwire) — Foreign investors remained net sellers of South Korean stocks in February amid growing jitters over Russia’s invasion of Ukraine, data showed Monday. Foreigners offloaded a net 2.58 trillion won (US$2.09 billion) worth of local stocks last month, marking the second straight month of net selling, according to the data [...]
SEOUL, March 13 (Korea Bizwire) — Foreign ownership of South Korean stocks fell to a six-year low, bourse data showed Sunday, as overseas investors preferred safer assets in the wake of the Ukraine crisis and ahead of a widely expected U.S. rate hike. As of Friday, foreign investors held 666 trillion won (US$538 billion) worth [...]
SEOUL, March 12 (Korea Bizwire) — Trade volume of goods between South Korea and the United States grew nearly 70 percent, and bilateral investment more than doubled over the past decade since their free trade agreement, Seoul’s industry ministry said Friday. The Korea-U.S. Free Trade Agreement (KORUS FTA) marked its 10th anniversary this month, as [...]
SEOUL, March 12 (Korea Bizwire) — South Korean stock markets are expected to continue to face volatile sessions next week, primarily due to persistent uncertainties in Ukraine and the upcoming monetary policy meeting by the U.S. Federal Reserve, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,661.28 points Friday, down [...]