South Korean retail investors are trading some popular US leveraged securities without access to real-time quotes during daytime hours, after Blue Ocean ATS suspended trading in 18 securities to comply with US Securities and Exchange Commission rules. The suspension took effect with Monday’s 8 p.m. ET session, Blue Ocean ATS said. Most of the affected securities are leveraged or inverse products, including the Direxion Daily Semiconductor Bull 3X Shares, known as SOXL, and the Direxion Daily MSC

Korea Exchange Chairman and CEO Jeong Eun-bo held talks with California Public Employees' Retirement System, or CalPERS, to promote greater investment in South Korea's capital markets, the bourse operator announced Wednesday. Jeong met with CalPERS Chief Investment Officer Stephen Gilmore. CalPERS is the largest public pension fund in the US, managing roughly $637.1 billion in assets as of June 30. During the meeting, Jeong highlighted the progress made in capital market reforms led by the gover

South Korea’s artificial intelligence rally must expand beyond Samsung Electronics and SK hynix if the country is to achieve broader and more sustainable stock market growth, according to Frank Benzimra, head of Asia equity strategy at Societe Generale. The two chipmakers now account for more than 48 percent of the Kospi’s roughly 5,610 trillion won ($4.1 billion) market capitalization and two-thirds of the combined first-half net profit of all Kospi-listed companies. “Today, the Korean market r

IMM Investment Japan has led a Series D funding round for fusion energy startup Kyoto Fusioneering, backed by Korean industrial heavyweights. The investment was made through the Korea-Japan Fusion Fund, a cross-border vehicle established to connect Korean capital and industrial networks with Japanese deep-tech companies, IMM Investment said Tuesday. Strategic investors in the fund include Posco Holdings, Posco International, Doosan, Hyundai Motor and GS E&C. Octagon Venture Partners participated

The South Korean benchmark Kospi steadied after retreating sharply in early trading Monday, as concerns over rising US interest rates were offset by share buybacks by chip giants Samsung Electronics and SK hynix. The Kospi closed at 6,820.02, up 0.46 percent from the previous session, according to the Korea Exchange. The index fell over 3 percent to 6,547.76 shortly after the opening bell, but pared its losses and eventually turned higher as heavy corporate buying helped lift the market. Foreign

KB Financial Group's next chairman will be chosen from three candidates, including the incumbent Chairman Yang Jong-hee, the banking group announced Thursday. Following a meeting of its chairman candidate recommendation committee, the group announced that the field of candidates has been narrowed down to three people, including Yang, Lee Jae-keun, chief business officer of global, wealth management and corporate finance, and former Woori Bank CEO Kwon Kwang-seok. The decision was made after cond

The Bank of Korea on Thursday raised its benchmark interest rate for a second consecutive meeting, tightening monetary policy amid persistent inflationary pressures as chip-led growth outweighed expectations. The Monetary Policy Board lifted the rate by 0.25 percentage point to 3 percent, following an increase of the same size in July. The decision was backed by six of the seven board members, with only one-member dissenting. The hawkish decision puts the base rate back to the 3 percent range fo

The Bank of Korea on Thursday raised its benchmark interest rate for a second consecutive meeting, pressing ahead with monetary tightening amid persistent inflationary pressures. The Monetary Policy Board lifted the rate by 0.25 percentage point to 3 percent, following an increase of the same size in July. Thursday’s decision came amid strong inflationary pressure fueled by rising incomes from the semiconductor boom. Real gross domestic product grew 0.6 percent in the second quarter from the pre

The won’s recent rally could gain momentum from Samsung Electronics and SK hynix, as their record shareholder returns are expected to trigger billions of dollars in currency conversions. Earlier this month, the Korean won broke into the 1,300-per-dollar range for the first time since October. While the won has been hovering around the 1,370-1,380 per dollar range in recent sessions, analysts said the currency could strengthen further, supported by the large shareholder return initiatives. The co

The Bank of Korea is set to hold its next rate-setting meeting Thursday, with markets split over whether the central bank will deliver another rate hike or pause, a decision that could offer clues on the pace and extent of its current tightening cycle. The BOK raised its benchmark rate by 0.25 percentage point to 2.75 percent in July, marking its first rate hike in over three years since January 2023. Markets are now watching whether the central bank will deliver a back-to-back rate hike. Follow

Samsung Electronics shares plunged nearly 9 percent Monday, with the company's plan to allocate up to 110 trillion won ($79.5 billion) for shareholder returns falling short of market expectations. Samsung Electronics shares closed at 257,000 won, down 8.7 percent from the previous session, according to the Korea Exchange. Its preferred shares fell 8.55 percent. The chipmaker's plunge sent other Samsung Group affiliates reeling. Samsung C&T fell 7.84 percent, while Samsung Life Insurance dropped

Kakao's plan to split into two listed companies, Kakao AI and Kakao X has prompted a streak of target price cuts from brokerage houses, citing concerns over a potential holding company discount and the profitability of its AI business. According to reports released by 11 securities firms on Kakao on Monday, five lowered their target prices for the company: Hana Securities, Kiwoom Securities, Samsung Securities, Meritz Securities and Daol Investment & Securities. Kiwoom Securities cut its target

After more than a decade, the Bank of Korea is back on a gold-buying spree, raising its exposure to the precious metal as it joins central banks around the world in diversifying their foreign reserves. According to the BOK, the central bank currently holds 104.4 metric tons of gold, valued at $4.79 billion, or 1.1 percent of its total foreign exchange reserves of $427.36 billion at end-June. The relatively small share highlights the BOK's limited exposure to gold compared with other central bank

BitGo Korea, the local unit of global digital asset infrastructure company BitGo, has received approval from South Korean regulators to operate as a virtual asset service provider here, making it the first foreign player to earn the status. According to the company, the Financial Intelligence Unit under the Financial Services Commission approved BitGo Korea's VASP registration, allowing it to provide services including virtual asset transfers, custody and management. While most foreign virtual a

The won broke into the 1,300-per-dollar range Wednesday for the first time in more than 10 months, defying a steep Kospi selloff as weak US data pressured the dollar and Korean exporters sold more of their dollar holdings. The won opened at 1,413.3 won per dollar in Seoul's onshore trading, and extended its appreciation throughout the morning session. It eventually fell below the 1,400 won mark just before noon, marking the first time it has traded at the 1,300-won level since Oct. 2. The won wa