Foreign investors' relentless selling sent South Korea's Kospi plunging more than 5 percent Tuesday, briefly pushing the benchmark below 6,000 as sustained capital outflows overshadowed strong semiconductor earnings and raised concerns over the market's outlook. The Kospi closed at 6,035.35, down 5.46 percent, after slipping below 6,000 intraday before recovering some losses in the afternoon. The plunge triggered a sell-side sidecar for the first time in nearly two months, temporarily suspending

South Korea's top financial policymaking body will relocate from Seoul to Sejong in the second half of 2027, extending the government's decentralization drive to financial regulation despite industry concerns over weaker oversight and a potential talent exodus. The Financial Services Commission was included in the government's second round of central government agency relocations announced Tuesday, after being excluded from an initial list last month. The FSC, which oversees financial policy, ba

SK hynix's potential US listing of its NAND flash subsidiary Solidigm is dividing investors over whether the move could unlock hidden value for the South Korean chipmaker or dilute the interests of existing shareholders. According to investment banking sources on Sunday, Solidigm has held meetings with several investment banks to discuss underwriters for a potential US listing. Market watchers estimate it could be valued at up to $150 billion and raise as much as $15 billion. Solidigm was establ

South Korea’s financial regulators and the Korea Exchange have tightened delisting rules, but a court raised procedural concerns just three months later. The exchange has paused further delistings, but trading remains suspended for eight companies, leaving shareholders unable to sell their shares. The Korea Exchange said Wednesday it would defer further delisting procedures for companies designated as administrative issues for failing to meet minimum market capitalization requirements. As of Thu

Financial Services Commission Chairman Lee Eog-weon said authorities are reviewing potential sanctions against MBK Partners over the Homeplus liquidity crisis and will handle the matter strictly in accordance with the law and principles. Lee made the remarks during a parliamentary audit by the National Assembly's Political Affairs Committee on Thursday, saying authorities were reviewing the case and would take a strict approach. “We are reviewing the relevant details and opinions,” Lee said in r

Lamborghini unveiled two high-performance plug-in hybrid models in South Korea on Thursday, marking their Asia-Pacific debut. The Italian automaker showcased the Urus SE Performante and Revuelto SV for the first time in the Asia-Pacific region at Lamborghini Day Korea, held at Grand Walkerhill Seoul. The Urus SE Performante combines a 4.0-liter twin-turbo V8 engine with an electric motor, delivering 812 horsepower and 1,000 newton-meters of torque. It accelerates from zero to 100 kilometers per

Naver’s plan to build one of South Korea’s largest AI data centers in Sejong has heavyweight names behind it: Nvidia, global asset manager Brookfield and potentially some of the country’s biggest banks and securities firms. Yet financing a $10 billion AI infrastructure project is proving anything but straightforward. Naver and Brookfield are discussing up to $9 billion in financing for the first phase of an expansion of Naver’s Gak Sejong AI factory, which would increase its capacity to 200 mega

US President Donald Trump said Friday that an $8.4 billion enhanced oil recovery project is included in a deal with South Korea. “I am thrilled to announce the Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project,” Trump said in a post on his Truth Social account. “Producing more Oil and Gas means American Energy Dominance and Energy Security in the World for the Future!” he added. Enhanced oil recovery, or EOR, refers to techniques used to increa

US nonfarm payroll growth slowed more sharply than expected in August. The US economy added 29,000 nonfarm jobs in August, the Labor Department’s Bureau of Labor Statistics said Friday, well below the 90,000 increase expected by economists. The unemployment rate rose to 4.2 percent, slightly above the 4.1 percent market forecast.

A Seoul court has suspended the delisting of KM Pharmaceutical, ruling that the Korea Exchange’s minimum market capitalization rules were unlawful and invalid. The Seoul Southern District Court on Friday granted the company’s request to suspend the effect of its Sept. 14 delisting decision until a final ruling in the main case. It also barred the exchange from proceeding with liquidation trading. The court said the exchange had excessively restricted listed companies’ procedural rights by raisin

South Korea’s financial regulator on Friday ordered banks and credit card companies to conduct security checks following a series of cyberattacks involving Shinhan Bank and KB Kookmin Bank. The Financial Services Commission said it would promptly collect the results and use them to develop measures to strengthen cybersecurity in the financial sector. The FSC held an emergency meeting chaired by Secretary General Shin Jin-chang to share information on recent data breaches, including the types and

Korea Investment & Securities will acquire a roughly 1 percent stake in SK Corp. for 400 billion won ($296.47 million) through a price return swap agreement. Korea Investment Holdings disclosed Friday that its subsidiary, Korea Investment & Securities, has decided to acquire 681,431 shares of SK Corp. for 400 billion won. Following the acquisition, its stake in SK Corp. will stand at 0.93 percent. The purchase price is equivalent to 3.57 percent of Korea Investment & Securities’ equity of 11.2 t

Second attempt to rescue shark from Busan canal ends without success A second attempt to guide a large shark out of an artificial canal at a waterfront park in Busan failed Friday, with authorities deciding to leave the animal near the canal exit and wait for it to swim out on its own. The Busan Coast Guard and other authorities launched the operation Friday afternoon, three days after an initial attempt to drive the shark into the sea using water pumps was unsuccessful. This time, authorities u

Questions are emerging in South Korea’s financial market about whether Musinsa, the nation’s largest online K-fashion platform by sales, is appropriately valued at 8 trillion to 10 trillion won ($5.9 billion to $7.4 billion) ahead of its initial public offering. Analysts say further earnings growth and financial results will need to be confirmed to justify the valuation. According to financial investment industry sources Friday, the valuation largely reflects Musinsa’s future growth potential an

South Korea has again been ordered to compensate US hedge fund Elliott Investment Management over government intervention in the 2015 merger of two Samsung affiliates, despite securing a partial annulment of the original arbitration award earlier this year. The Ministry of Justice said Thursday that the tribunal rehearing the case ordered the government to pay $48.49 million in damages — unchanged from the original award — plus interest and costs. Elliott put the total award at approximately $11