SEOUL, June 25 (Korea Bizwire) — South Korean stocks finished slightly higher Wednesday, tracking overnight U.S. stocks gains boosted by eased Middle Eastern tensions and hopes of an early interest rate cut by the Federal Reserve. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.61 points, [...]
SEOUL, June 24 (Korea Bizwire) — The market capitalization of chip giant SK hynix Inc. surpassed 200 trillion won (US$146.5 billion) for the first time Tuesday amid a rally in the South Korean stock market. Shares of SK hynix were trading at 278,000 won as of 2 p.m., up 7.13 percent from the previous session. [...]
SEOUL, June 21 (Korea Bizwire) — South Korea’s benchmark KOSPI index surged past the 3,000 mark for the first time in three and a half years this week, fueling investor interest in sectors poised to benefit from President Lee Jae-myung’s economic agenda amid intensifying global volatility driven by renewed U.S. protectionism under President Trump. Analysts attribute [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will review the introduction of tighter rules on so-called jeonse loans amid rising household debts. In a report to the State Affairs Planning Committee, the de facto transition team of the new Lee Jae Myung administration, the Financial Services Commission (FSC) said [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s internet-only lender Kakao Bank said Thursday it has received approval from the Thai government to operate a “virtual bank,” marking the first reentry of a Korean bank into the Thai market in 25 years. The Thai Ministry of Finance recently selected a consortium formed by Kakao Bank [...]
SEOUL, June 18 (Korea Bizwire) — South Korean stocks closed higher for the third consecutive session Wednesday, led by big gains in market heavyweight Samsung Electronics and IT shares. The local currency was trading lower against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 21.89 points, or 0.74 percent, to end [...]
SEOUL, June 18 (Korea Bizwire) – South Korea’s financial regulator has issued a consumer alert warning the public about a rise in fraudulent schemes involving fake promises of imminent stock market listings—an increasingly sophisticated scam targeting retail investors amid the country’s recent market rebound. According to the Financial Supervisory Service (FSS), scam operators are falsely [...]
SEOUL, June 17 (Korea Bizwire) — On a weekday, a real estate agency in Seoul’s Mapo District was juggling multiple phone inquiries from prospective homebuyers but had little to offer, largely due to recent price hikes that encouraged home owners to withdraw their offerings in hope of further increases. “We are getting inquiries from over [...]
SEOUL, June 16 (Korea Bizwire) — South Korean stocks soared to the highest mark in over three years Monday, driven by big gains in the defense, energy and IT sectors. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 52.04 points, or 1.8 percent, to end at [...]
SEOUL, June 16 (Korea Bizwire) — The Seoul Metropolitan Government announced new measures on Sunday to enhance oversight of real estate transactions involving foreign nationals, aiming to address rising concerns over transparency, market disruption, and perceived unequal treatment of domestic buyers. As foreign ownership of property in South Korea increases, Seoul officials plan to scrutinize sources [...]