The rosy outlook of the “undervalued” main bourse in South Korea is likely to continue for the time being, as robust economic fundamentals outweigh uncertainties, the main bourse operator said.The forecast came after the benchmark Korea Composite Stock Price Index closed at an all-time high Thursday, after reaching 2,241.14, on the back of a buying spree by foreign investors. It broke the closing record of 2,228.96 set on May 2, 2011. The record came in line with a series o

Seventeen children in South Korea were estimated to own shares of listed firms valued at over 1 billion won ($880,000) as of the end of 2016, data by the Korea Exchange showed Friday.Of the total aged below 13, seven were from the family of pharmaceutical holding firm Hanmi Science, topping the list by each holding 37.4 billion won in stocks, as of Dec. 28, 2016. The seven, aged between 9 and 11, held 612,673 shares each, receiving them through bonus issues or as gifts. They are the grandchildre

South Korea’s first-tier stock market hit a fresh record high Thursday, offsetting a strong US dollar on the back of eased global uncertainties and strong foreign buying.　The benchmark Korea Composite Stock Price Index closed at 2,241.24 points, up 21.57 points, or 0.97 percent, compared to the previous trading day Tuesday, when it closed at 2,219.67.　Kospi’s previous record high was 2,231.47, set on April 27, 2011. 　The market did not open Wednesday as it was a public holiday.　Forei

South Korea’s first-tier stock market index hit an all-time high about five minutes after the market opened Thursday.　The benchmark Korea Composite Stock Price Index recorded 2,232.98 at around 9:05 a.m. Thursday, beating the record-high mark of 2,231.47 set on April 27, 2011.　The market opened at 2,224.91, up 5.24 points, or 0.35 percent, compared to the previous trading day Tuesday, when it closed at 2,219.67.　The market did not open Wednesday as it was a public holiday. 　 Kospi extended

Stocks in South Korea’s main bourse traded higher again, though earlier sharp gains evaporated in the afternoon Tuesday. The benchmark Korea Composite Stock Price Index ended at 2,219.67 on Tuesday, up 14.23 points, or 0.65 percent, over Friday, when it closed at 2,205.46 to end seven consecutive gains. The stock market did not open Monday for a public holiday.The first-tier stock market hit its intraday high at around 11:47 a.m. at 2,229.74, approaching its all-time high mark of 2,231.47,

Financial authorities in South Korea have yet to decide on whether to exempt blockchain technology from regulations on financial privacy, which may hurt Korea’s move to pursue the fintech-led fourth industrial revolution, a news report said Tuesday.Blockchain is expected to be a key feature of financial technology infrastructure in Korea, as it offers enhanced security from tampering. But it requires records in a block of transactions to remain permanent, with no option to alter them retro

South Korea’s outbound shipments surged 24.2 percent in April from a year prior to $51 billion, mainly boosted by strong sales of ships and semiconductors, data by the Trade Ministry showed Monday. It marked the second most monthly exports, following $51.6 billion in October 2014. The figure saw the sharpest on-year rise in nearly six years, following 25.5 percent in August 2011.Meanwhile, inbound shipments also increased 16.6 percent, compared to the previous year, to $37.8 billion i

South Korea’s non-life insurers saw their profits rise due to reduced loss ratios for car insurance and the rise in medical insurance rates in the first quarter, data showed Sunday.However, criticism persisted as the insurers appear to rely on group buying schemes, which allows them to overcharge customers to sustain financial stability for coverage, observers said.The combined net profit of the five major non-life insurers -- Samsung Fire & Marine Insurance, Dongbu Insurance, Hyundai

Commercial lenders in South Korea have raised interest rates for household lending, weighing on household debt, the central bank’s data showed Sunday. Fresh household loans with rates lower than 3 percent, extended by local banks, took up 26 percent of total household loans in March, hitting a 25-month low, according to data from the Bank of Korea. The proportion of new loans with interest rates below 3 percent plummeted by 50 percentage points to reach 25.8 percent, from 76 percent in Aug

South Korea‘s benchmark Korea Composite Stock Price Index hit another record high for 2017 Thursday, thanks to individual investors’ buying, offsetting its weak start earlier affected by Samsung’s refusal to reshape corporate structure. Kospi continued a seven-trading-day rally, closing at 2,209.46 points. It was up 0.07 percent, or 1.62 points from a day earlier, when it crossed the 2,200 mark for the first time in six years. The stock market index dropped to 2,199.76 at

Green & Blue Solutions, a local manufacturer of odor eliminators based on bio-enzyme technology, has dedicated itself to addressing concerns over the environment of pig farms and helped improve their productivity by reducing the health risks of livestock. Its signature product Biomagic has improved farm productivity by reducing toxic gases from livestock excrement, such as ammonia and hydrogen sulfide, which not only generates odor, but also affects the respiratory health of livestock, the firm

South Korea’s stock market stayed bullish, with its benchmark Korea Composite Stock Price Index crossing the 2,200 mark for the first time in six years Wednesday, amid world market rallies and the earnings parade of local corporations. The main bourse closed at 2,207.84 Wednesday, up 0.5 percent, or 10.99 points compared to the previous day. It surpassed the 2,200 mark for the first time after May 4, 2011, when the market ended at 2,201.69. It opened at 2,202.37 Wednesday, up 5.52 points,

Standard Chartered Bank Korea announced Wednesday it plans to hold a forum dedicated to financial technology at its main branch in Korea on May 17.Michael Gorriz, group chief information officer at the London-based Standard Chartered Bank and Lim Jung-wook, managing director of Startup Alliance in Korea, will deliver keynote speeches at the forum.Under the theme of “Digital Technology Reshaping the Banking Industry,” the forum will involve sessions on the innovation of financial serv

South Korea’s benchmark Korea Composite Stock Price Index topped 2,200 points, for the first time in six years when it opened Wednesday.The main bourse soared 5.52 points, or 0.25 percent, to reach 2,202.37 at 9 a.m. After 36 minutes of trading, it reached 2,206.22, up 9.37 points, or 0.43 percent. 　The Kospi closed at 2,196.85 Tuesday. This is the first time in six years that Kospi has surpassed the 2,200 mark. On May 4, 2011, the market closed at 2,201.69. The first-tier stock market has

ING Life Insurance Korea announced Monday that it would set its share price at 33,000 won ($29.19), above its minimum suggested price at 31,500 won.This marks the first time an insurance company set a share price within the suggested range of the offering price -- between 31,500 won and 40,000 won -- in seven years, after the initial public offering of Samsung Life Insurance. Other insurance firms listed afterwards, including Tongyang Life Insurance, Hanwha Life Insurance and Mirae Asset Insuran

The earnings surprise of major commercial banks in South Korea in the first quarter was partly driven by their improved net interest margins, data showed Monday. The combined net profit of the four major commercial banks -- Shinhan Bank, Kookmin Bank, KEB Hana Bank and Woori Bank -- in the first quarter came to 2.28 trillion won ($2.01 billion), a 22.3 percent rise on-year, according to earnings reports by each bank last week. Excluding one-off profits, such as sell-offs of bank branches or loan

The Financial Supervisory Service of Korea announced Friday that it took punitive action against Korea‘s four securities firms for receiving rebates from a securities-financing services company.The firms -- Mirae Asset Daewoo, NH Investment & Securities, Yuanta Securities Korea and Korea Investment & Securities -- were found to have received rebates in return for depositing customers’ money in the money market wrap run by Korea Securities Finance Corp.  Combined they too

Kakao, the second-largest company by market cap on the second-tier Kosdaq, is mulling moving to the main bourse Kospi, according to the firm Thursday.“Listing on the Kospi is one option we are considering, but nothing has been fixed,” read a statement on the disclosure. This came in response to the market operator Korea Exchange’s request to clarify relevant rumors on the relisting that had been spreading.Kakao, the operator of the nation’s largest mobile messenger KakaoTalk and web portal Daum,

KB Financial Group, the second-largest banking group in net assets, posted 870.1 billion won ($763.7 million) of net profit in the first quarter, a 59.7 percent rise on-year, according to the group’s earnings report Thursday. The net profit of the holding company, which operates financial units including Kookmin Bank, the second-largest commercial lender in market cap, skyrocketed 91.7 percent compared to the previous quarter, the report indicated Thursday Kookmin Bank in the first quarter