South Korean stocks opened lower Monday despite Wall Street gains backed by stronger-than-expected US jobs data. The benchmark Korea Composite Stock Price Index dropped 6.29 points, or 0.23 percent, to 2,707.92 in the first 15 minutes of trading. On Friday, data showed that the US posted the biggest job growth in almost a year in March, indicating a strong economy. Even though the strong labor market may mean interest rates may stay elevated for longer, Wall Street closed higher on the belief th

Seoul shares opened lower Tuesday on speculation that stronger than expected data may prod the Federal Reserve to push back its rate-cut timetable. The benchmark Korea Composite Stock Price Index fell 10.12 points, or 0.4 percent, to 2,737.74 in the first 15 minutes of trading. The Institute for Supply Management's manufacturing purchasing managers' index released overnight stayed at 50.3 last month, the highest since September 2022 despite a prolonged tightening mode by the Fed. The F

Seoul shares closed higher Monday as US inflation data was in line with market expectations raising hopes that the Federal Reserve may start cutting rates in June at the earliest. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 1.23 points, or 0.04 percent, to close at 2,747.86. Trade volume was slim at 391.77 million shares worth 9.9 trillion won ($7.3 billion), with gainers outpacing losers 573 to 295. Institutions and foreigners bought a combine

Seoul shares opened higher Monday as the US Federal Reserve is expected to await more evidence that inflation is under control before cutting rates this year. The benchmark Korea Composite Stock Price Index rose 8.11 points, or 0.3 percent, to 2,754.74 in the first 15 minutes of trading. Fresh inflation data released Friday was in line with the US central bank's expectations. Fed Chair Jerome Powell said it would not be appropriate to cut rates until officials are sure inflation is on track

South Korean stocks finished nearly unchanged Friday as investors took a wait-and-see stance ahead of a key US inflation report that would set the tone for the Federal Reserve's rate-setting decision. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 0.81 point, or 0.03 percent, to close at 2,746.63. Trade volume was moderate at 485.5 million shares worth 11 trillion won ($8.17 billion), with losers beating winners 603 to 270. Foreign inves

Korean battery material and chemical company Posco Future M has been recognized by Fortune Asia as one of the top 30 most innovative companies in Asia, set to drive future growth, the company said on Thursday. The 2024 Fortune Asia Future 30 award was presented at the Fortune Innovation Forum in Hong Kong on Wednesday. Posco Future M's progress from traditional industrial materials to leading-edge sectors like cathode material production has been marked by significant achievements, includin

South Korean stocks finished nearly flat Wednesday ahead of the releases of key US inflation data as investors cashed in recent gains. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index dropped 1.98 points, or 0.07 percent, to close at 2,755.11. Trade volume was moderate at 482.5 million shares worth 11.3 trillion won ($8.38 billion), with losers outnumbering winners 499 to 367. Individuals and institutions led the slight decline, dumping a net

South Korean stocks declined for the second straight session Monday as investors sought to cash in recent gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.99 points, or 0.4 percent, to close at 2,737.57. Trade volume was moderate at 479.9 million shares worth 9.78 trillion won ($7.23 billion), with losers outnumbering winners 527 to 336. Foreigners and institutions led the drop, dumping a combined 331.6 billion won worth of local share

Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as well as a leading trading company, I will fulfill my responsibilities" to align with the company's new vision, "materials opening the future, innovation for the top class,&quo

South Korean steel firm Posco Group has woven social welfare into its corporate strategies through its child care centers, open not just for their own workers but also those of its partner firms, as part of efforts to help tackle the nation's falling birth rate. The Shared Coexistence Work Child Care Centers, initiated in June 2020, are collaborative ventures between Posco and its suppliers, underscoring the group's dedication to supporting a work-family balance in response to national

South Korean shares closed slightly lower Friday as investors cashed in gains after the market rallied by more than 2 percent the previous session. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.3 points, or 0.23 percent, to close at 2,748.56. Trade volume was moderate at 501.3 million shares worth 11.3 trillion won ($8.42 billion), with gainers outnumbering losers 485 to 381. Foreigners bought a net 665 billion won worth of stocks,

Chang In-hwa, a company veteran, officially took office as chairman of South Korean steel giant Posco Group, the nation’s fifth-largest conglomerate, on Thursday after winning unanimous approval from shareholders. It marked the group’s first change in leadership in almost six years, following the conclusion of the second term of Choi Jeong-woo. No objection was made against the appointment during the general meeting of shareholders held in Seoul earlier in the day. Right after the ge

Chile's Ministry of Public Works and the investment promotion agency, InvestChile, recently visited Seoul to boost the country's infrastructure and technology sectors, inviting investors in Korea to participate in its extensive portfolio of projects. During an interview with The Korea Herald at the Embassy of Chile in central Seoul on Thursday, InvestChile Director Karla Flores and Concession General Director Juan Manuel Sanchez shed light on their strategies to attract new investment

South Korean stocks finished higher Wednesday, tracking overnight Wall Street gains driven by megacap tech stocks. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 11.76 points, or 0.44 percent, to 2,693.57. Trade volume was moderate at 491 million shares worth 10.7 trillion won ($8.14 billion), with winners beating losers 444 to 429. Foreign investors led the overall gains, buying a net 334 billion won worth of shares, while institutions and re

Posco International, the trading and energy arm of Korean steel giant Posco, announced Tuesday that it has recently secured a substantial order for rare earth permanent magnets, an essential part of an electric vehicle drive motor core, through its overseas subsidiaries. The US subsidiary of Posco International plans to procure permanent magnets worth some 900 billion won ($685 million) from 2026 to 2031, for a global automaker in North America. The magnets produced will be utilized in the drive