South Korean stocks opened sharply higher on Tuesday on overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index shot up 26.07 points, or 0.97 percent, to 2,700.43 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.58 percent higher, with the S&P 500 advancing 0.97 percent. The tech-heavy Nasdaq composite finished 1.39 percent higher as well. The Wall Street gains were powered by eased concerns about a potential recession in the Un

In my last essay for The Korea Herald, I introduced the idea of the "Paradox on the Han River." To understand South Korea today, one must squarely face two contradictory realities. One is of incredible success, a rag-to-riches story with global brands, an addictive K-culture and a rising power at the Olympics. Political progress followed this success. Korea is a rare nation in the modern era with a conviction around constitutional democracy. At the same time, Korea’s youth is cha

South Korean stocks closed higher for the fourth consecutive session Wednesday as cooler-than-expected US producer price data soothed concerns and boosted investors' sentiment. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 23 points, or 0.88 percent, to close at 2,644.50. Trade volume was a little slim at 321.4 million shares worth 8.6 trillion won ($6.3 billion), with winners outnumbering losers 649 to 234. Foreigners purchased

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street led by a cooler-than-expected US producer price index. The benchmark Korea Composite Stock Price Index rose 29.24 points, or 1.12 percent, to 2,650.74 in the first 15 minutes of trading. Overnight, major US indexes gained ground as softer producer price data boosted bets the Federal Reserve will start cutting its rates soon. In Seoul, market bellwether Samsung Electronics advanced 1.97 percent, and its chipmakin

South Korean stocks opened higher Monday on eased woes over a US recession after last week's rout. The benchmark Korea Composite Stock Price Index added 26.81 points, or 1.04 percent, to 2,615.24 in the first 15 minutes of trading. Major US indexes finished higher Friday following a rout as recession woes diminished thanks to better-than-expected unemployment data. Investors' eyes are now on the US consumer price, producer price and retail sales data due out later this week. In Seoul,

South Korean stocks ended a two-day rebound after the global crash as investor sentiment was dampened by lingering US recession woes and the sluggish performance of big tech firms. The local currency slightly fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 11.68 points, or 0.45 percent, to close at 2,556.73. Trade volume was moderate at 477.7 million shares worth 11.2 trillion won ($8.1 billion), with losers closely beating winners 464 to 423. Foreigners and i

Posco Future M CEO Yoo Byung-og (left) hands out refreshing drinks to employees Wednesday during his visit to the company's synthetic graphite anode material plant in Pohang, North Gyeonsang Province, where temperatures reached 33 degrees Celsius. He also joined fun activities like darts and a lucky draw, with winners taking home travel and ice cream vouchers. This initiative is part of a company-wide effort for management to visit sites in Gwangyang, Sejong, Seoul, and Gumi, continuing u

Seoul shares opened higher Wednesday, tracking gains on Wall Street, two days after their worst rout over fears of a US recession. However, some analysts said worries about market turmoil linger. The benchmark Korea Composite Stock Price Index (Kospi) rose 12.17 points, or 0.48 percent, to 2,534.32 in the first 15 minutes of trading. The Kospi ended 3.3 percent higher Tuesday after plunging nearly 9 percent Monday due to massive selloffs amid concerns over a recession in the United States. Overn

South Korean stocks tumbled by the most on record to a near nine-month low Monday amid intensifying fears over a US economic slowdown, with big tech coming under heavy selling. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) plummeted a record 234.64 points, or 8.77 percent, to close at 2,441.55, after dipping to as low as 2,273.97 at one point, following a 3.65 percent loss the previous session. It is the lowest closing price since Nov. 14, whe

South Korean stocks increased for two straight sessions Thursday driven by the US Federal Reserve's strong signal for a rate cut next time. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index increased 6.99 points, or 0.25 percent, to close at 2,777.68, following a 1.19 percent rise the previous day. Trade volume was moderate at 463.9 million shares worth 10.6 trillion won ($7.75 billion), with gainers outnumbering losers 632 to 247. Foreig

The government on Tuesday announced 14 candidate sites for dams to be built or redeveloped. Four are in the Han River area, six in the Nakdong River area, one in the Geum River area, and three in the Yeongsan and Seomjin Rivers area. The decision has overturned the declaration by the Moon Jae-in administration six years ago that it would no longer build government-initiated large dams. Three of the 14 envisioned dams are multipurpose dams, seven are for flood control and four are for water suppl

Seoul shares ended sharply higher Wednesday on tech gains amid expectations that the US Federal Reserve may begin a rate cutting cycle within months. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shot up 32.50 points, or 1.19 percent, to close at 2,770.69. Trade volume was moderate at 543.14 million shares worth 11.84 trillion won ($8.6 billion), with gainers outnumbering losers 586 to 302. Institutions and foreigners bought a combined 202 billion won

Seoul shares opened higher Wednesday, following a mixed close on Wall Street, as investors expect the Federal Reserve may begin a rate cutting cycle later this year. The benchmark Korea Composite Stock Price Index added 5.20 points, or 0.19 percent, to 2,743.39 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 40,743.33 points, but the tech-heavy Nasdaq fell 1.3 percent to 17,147.42. This week, all eyes are on the Fed's policy decision on We

If you can't beat the heat, it might be best to surrender. But for those seeking sanctuary indoors, Korea still has a lot to offer tourists. For the month of August, the Korea Tourism Organization recommends a selection of spots that not only offer a cool, pleasant environment to spend your vacation, but also cultural experiences that reveal different sides of South Korea. Korean Stone Art Museum Korean Stone Art Museum, the world’s only museum specializing in stone art, is home to

Posco Group announced Friday that it donated 30,000 uniforms that no longer serve its employees to be upcycled for communities in the Philippines affected by disasters. After introducing new uniforms in February, Posco sought ways to utilize the former ones. This latest effort brings their total number of donated uniforms to 100,000, following previous donations to vulnerable groups in Mongolia and Madagascar. The company collaborated with non-governmental organizations active in international r