SEOUL, Sept. 21 (Korea Bizwire) — South Korean retail investors’ expectations for Tesla Motors Inc.’s new battery technology are growing as they have snapped up shares in the world’s top electric vehicle this year, industry sources said Monday. Tesla is slated to hold an annual meeting of stockholders on “battery day” Tuesday afternoon (Pacific time), [...]
SEOUL, Sept. 21 (Korea Bizwire) — The market value of South Korean auto giant Hyundai Motor Group has recovered to the 100 trillion-won (US$85.9 billion) level after more than 28 months thanks to brisk sales of hydrogen and electric vehicles, data showed Monday. The total market capitalization of Hyundai Motor Co. and 11 other listed [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korean insurance companies will start selling autonomous car-related insurance products from late this month, the financial watchdog said Thursday. The Financial Supervisory Service announced that the nation’s 12 non-life insurance companies will start selling new insurance products that can cover the risk related to accidents involving commercial self-driving [...]
SEOUL, Sept. 17 (Korea Bizwire) — A new non-life insurance product to compensate individuals and businesses for financial losses caused by the spread of infectious disease like COVID-19 is expected to be available late next year. The Korea Insurance Development Institute (KIDI) announced on Wednesday that it had started developing an infectious disease risk evaluation [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Korean retail investors have snapped up Samsung Electronics Co. this year, sharply raising their stake in the global tech giant, industry sources said Thursday. Local retail investors had net bought 147 million shares in the world’s top smartphone and memory chip manufacturer this year as of Wednesday, according [...]
SEOUL, Sept. 14 (Korea Bizwire) – The value of daily money transfers via mobile payment apps in South Korea rose 20.3 percent in the first half from six months earlier as online financial transactions increased amid the new coronavirus outbreak, central bank data showed Monday. The value of daily money transfers via smartphone apps, such [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korean investors have poured a huge amount of money into initial public offerings (IPO) this year amid ample liquidity, industry sources said Monday. Investor deposits for IPO subscription in Asia’s fourth-largest economy came to 150.9 trillion won (US$134 billion) between January and last week, about 1.5 times the [...]
SEOUL, Sept. 13 (Korea Bizwire) — South Korea’s key stock index has posted the second-highest profit rate among its Group of 20 peers since this year’s bottom, helped by robust buying by individuals, the bourse operator said Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,396.69 points Friday, soaring 64.42 percent from [...]
SEOUL, Sept. 11 (Korea Bizwire) — Foreign investors turned net sellers of South Korean stocks in August as they locked in profits following a bull run in the local stock market amid economic recovery hopes, the central bank said Friday. Foreigners sold a net US$890 million worth of local stocks last month, a turnaround from [...]
SEOUL, Sept. 10 (Korea Bizwire) — Hyundai Card Co., a leading credit card issuer in South Korea, said Thursday it has locally issued green bonds worth 450 billion won (US$379 million). The won-denominated green bonds, which were sold to domestic institutional investors, will come due in 14 months to 10 years, the card company said. [...]