SEOUL, March 28 (Korea Bizwire) — Card firms in South Korea saw their combined earnings in 2021 jump thanks to a hike in commission revenue boosted by rebounding consumption from a pandemic-caused slowdown, industry data showed Monday. The combined net income of eight major card firms came to 2.71 trillion won (US$2.21 billion) last year, [...]
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 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) — 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 [...]
SEOUL, March. 11 (Korea Bizwire) — Foreigners withdrew more money from the stock market in South Korea than their investments last month as a risk-averse attitude grew amid heightened geopolitical risks from Russia’s invasion of Ukraine, central bank data showed Friday. Foreigners unloaded a net US$1.86 billion worth of local stocks in February, marking the [...]
SEOUL, March. 11 (Korea Bizwire) — Sentiment is growing that the insurance industry needs to pay more attention to electric vehicle (EV) insurance products as a new channel for growth after main opposition candidate Yoon Suk-yeol was elected South Korea’s next president on Thursday. Yoon pledged that he will freeze EV charging fees over the [...]