South Korean shares closed sharply higher Monday, helped by strong advances in tech and financial shares. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 26.38 points, or 1.02 percent, to close at 2,623.29. Trading volume was moderate at 391 million shares worth 8.3 trillion won ($6.12 billion), with gainers outnumbering losers 488 to 395. Foreigners net bought 77.6 billion won worth of shares while retail investors dumped 440

South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced

There were two major events this week that surprised many people watching South Korea, myself included. First, a South Korean novelist won the Nobel Prize in Literature for the first time in the country's history, marking only the second time the country has won a Nobel Prize in any field. Her fans, fellow citizens and the whole world joined together in congratulating the novelist, Han Kang, on being awarded the world’s most prestigious literary prize. Of course, I was among them, but

Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per

SK Chairman Chey Tae-won's second daughter Chey Min-jung, 33, tied the knot with Chinese American entrepreneur Kevin Huang in a private wedding in Seoul, where some 500 guests, including the country's top business leaders, gathered for the celebration. Amid their ongoing divorce suit, Chey Tae-won and his ex-wife Roh Soh-yeong both attended the wedding, facing each other for the first time since the latest court ruling in May. Chey Min-jung and Huang reportedly met as neighbors in Wash

German technology firm Merck said Thursday it has opened its latest spin-on-dielectric (SOD) application center in Anseong, Gyeonggi Province in a bid to respond quickly to its customer needs here. The company held the opening ceremony of the latest facility at the production site that same day. Attendees include senior executives of Merck and its key clients, Samsung Electronics and SK hynix. The new facility, the second of its kind in Asia, is equipped with advanced technology for measuring an

South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on

SEOUL, South Korea, Oct. 10, 2024 /PRNewswire/ -- The Korea Heritage Service and the Korea Heritage Agency announced to present the special program "Princess Hwasun - The Mystery of the Love Letter Hidden in Her Green Wedding Robe" (hereinafter referred to as "Princess Hwasun") from October 22 to 27 at Changdeokgung Palace in Seoul, South Korea. Poster of Princess Hwasun - The Mystery of the Love Letter Hidden in Her Green Wedding Robe "Princess Hwasun&quo

Seoul stocks finished marginally higher Thursday on overnight US stock gains amid a decline in international oil prices. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index edged up 0.19 percent, or 4.8 points, to 2,599.16. Trading volume was heavy at 603 million shares worth 13.48 trillion won ($9.99 billion), with gainers outpacing losers at 442 to 423. Institutions sold a net 299.6 billion won, while foreign and retail investors together bought a net

Seoul stocks opened higher Thursday thanks to overnight US stocks gains led by a decline in international oil prices and a rise in local tech stocks. The benchmark Korea Composite Stock Price Index rose 0.46 percent, or 11.90 points, to 2,606.26 in the first 15 minutes of trading. Overnight, US stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S&P 500 gained 0.71 percent, and the tech-heavy N

South Korea maintains a current account surplus, driven by robust exports, but the surplus is declining. The country racked up a current account surplus of $6.6 billion in August, according to data compiled by the Bank of Korea on Tuesday. It was the fourth consecutive month in the black. But the August surplus was nearly $2.4 billion smaller than the July surplus ($8.97 billion) and about half of the June figure ($12.56 billion). The central bank expected the current account surplus to continue

After the July launch of Samsung Electronics’ Galaxy Ring, several tech rivals have jumped into the smart ring race. But rumors are rampant that Apple may have scrapped its long-held plan for its own ring possibly to focus on the Apple Watch. According to a recent Bloomberg report, Apple has no plans to release an Apple smart ring despite two decades of research into the product. "Apple isn't actively developing a ring and has no plans to launch one," the report said. &ldq

Seoul stocks finished lower Tuesday due to weaker-than-expected earnings results by Samsung Electronics and overnight US stock losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 0.61 percent, or 16.02 points, to 2,594.36. Trading volume was moderate at 313 million shares worth 8.98 trillion won ($6.65 billion), with losers outpacing gainers at 569 to 305. Institutions and foreign investors together sold a net 72 billion won, while retai

Samsung Electronics Chairman Lee Jae-yong on Monday put an end to the long-standing rumor that the memory chip giant might spin off its lackluster foundry business, saying he is still “hungry” for growth. “We are hungry to grow (our) business, not interested in spinning (it) off,” the Samsung chief told Reuters upon his visit to the Philippines. Regarding the delayed operation of the company's new foundry plant currently under construction in Taylor, Texas, Lee said,

Samsung Electronics predicted Tuesday that its operating profit for the July-September period would miss market expectations due to a slow recovery in memory demand and the lackluster performance of High Bandwidth Memory chips used in artificial intelligence computing. Samsung's third-quarter operating profit is estimated to hit 9.1 trillion won ($6.76 billion), up 274.5 percent from a year ago, according to the company’s earnings guidance. The figure is lower than the 10.77 trillio