Posco Holdings has confirmed a total of six finalists to compete for the Korean steel giant's top post, as the current Chairman Choi Jeong-woo’s official term is due to expire in March. On Wednesday, the company's CEO Recommendation Committee unveiled the six chairman candidates, including three Posco veterans and three outsiders, after their eight meetings over the past few weeks. The committee has been reviewing the finalists since Dec. 21 after Chairman Choi chose not to seek

South Korean stocks closed slightly lower Wednesday, hurt by declines in semiconductor stocks after chip giant Samsung Electronics reported its fourth-quarter earnings. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 1.72 points, or 0.07 percent, to 2,497.09. Trade volume was moderate at 443.1 million shares worth 8.69 trillion won ($6.50 billion), with losers outpacing winners 525 to 350. Market watchers cited the mixed performance of overnight Wa

South Korean stocks opened weaker Wednesday ahead of a key rate decision by the US Federal Reserve this week. The benchmark Korea Composite Stock Price Index slid 6.01 points, or 0.24 percent, to 2,492.80 in the first 15 minutes of trading. Overnight, US stocks closed mixed as Wall Street waited for the Fed's latest decision on interest rates. The Dow Jones Industrial Average inched up 0.35 percent, while the S&P 500 shed 0.06 percent. The Nasdaq composite dropped 0.76 percent. In Seoul

South Korean stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 18.70 points, or 0.75 percent, to 2,519.35 in the first 15 minutes of trading. Overnight, US stocks gained ground as investors looked ahead to scheduled earnings announcements by major companies and the Federal Reserve's rate decision meeting later this week. The S&P 500 climbed 0.8 percent to close at a fresh high, while the Dow Jones Indu

Korean private equity firms are increasingly betting big on health-focused companies at home and abroad, in a bid to capitalize on the growth potential of the health care and wellness sector amid a globally aging population. In Korea alone, where accelerated demographic change is observed due to the low birth rate, the number of people aged 65 or over was 9.73 million in 2023, about 20 percent of the total population, surging from 10 percent back in 2010. Hahn & Co., the nation's largest pri

Seoul shares closed higher Friday on battery gains amid a report that the US economy remains resilient. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.22 points, to 2,478.56. The Kospi has risen 0.2 percent this week. Trading volume was slim at 285.54 million shares worth 7 trillion won ($5.2 billion), with gainers outpacing losers 549 to 312. Institutions and foreigners bought a combined 380 billion won worth of stocks, offsett

LG Energy Solution marks KRW 33.7 trillion in consolidated revenue and KRW 2.2 trillion in operating profit in 2023 To maintain growth momentum, the company to pursue qualitative growth by securing technology leadership, cost competitiveness and future readiness This year's guidance forecasts mid-single digit percent increase in annual revenue, with capital expenditure remaining consistent with the previous year SEOUL, South Korea, Jan. 26, 2024 /PRNewswire/ -- LG Energy Solution (KRX:

Seoul shares opened lower Friday on tech losses, despite overnight gains on Wall Street following a report indicating the US economy remains stronger than expected. The benchmark Korea Composite Stock Price Index fell 0.06 percent, or 1.44 points, to 2,468.90 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.6 percent to 38,049.13, and the tech-heavy Nasdaq climbed 0.2 percent to 15,510.50. The US economy grew at an estimated 3.3 percent in the fourth quarter

LG Energy Solution announces equity investment in Sion Power, an Arizona-based startup that holds core patents for lithium metal battery technologies The latest investment is part of company's dedication to open innovation, joining efforts with competent partners to tackle technological challenges SEOUL, South Korea, Jan. 25, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220), a leading global manufacturer of advanced lithium-ion batteries, today announced its equity investment in Sio

South Korean stocks closed lower Wednesday ahead of the release of earnings reports by major firms. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.92 points, or 0.36 percent, to 2,469.69. Trading volume was low at 381.6 million shares worth 7.17 trillion won ($5.36 billion), with losers far outpacing gainers 608 to 271. Foreigners sold shares worth 24.1 billion won, while retail investors bought a net 103.8 billion won. Institutions sold a net 8

South Korean stocks closed higher Tuesday as investors scooped up undervalued shares after US stock indexes closed at an all-time high overnight. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 14.26 points, or 0.58 percent, to 2,464.35. Trading volume was moderate at 461 million shares worth 7.87 trillion won ($5.89 billion), with gainers outpacing losers 482 to 379. Foreigners bought shares worth 137.9 billion won, while retail investors offload

More people work at large companies in South Korea, with the number of people employed by conglomerates reaching a record high last year. According to recent data from the Korean Statistical Information Service, the number of people working at companies with over 300 employees reached an all-time high of 3,087,000 last year. This is the first time that the figure reached the 3 million milestone since the statistics agency started compiling such data in 2004. The ratio of people working at large

South Korean stocks lost ground on Monday as investors sat on the sidelines ahead of the release of fourth-quarter earnings reports. The Korean won edged up against the US dollar. The benchmark Korea Composite Stock Price Index fell 8.39 points, or 0.34 percent, to 2,464.35. Trading volume was low at 376 million shares worth 8.25 trillion won ($6.1 billion), with losers outpacing gainers 575 to 295. Foreigners bought shares worth 295.3 billion won, while retail investors offloaded a net 244 bill

South Korean stocks soared more than 1.3 percent Friday as big-cap chip shares rallied following an overnight tech boost on Wall Street. The local currency edged up against the US dollar. The benchmark Korea Composite Stock Price Index jumped 32.70 points, or 1.34 percent, to 2,472.74. Trading volume was slim at 499.2 million shares worth 9 trillion won ($6.7 billion), with winners outpacing losers 518 to 345. Foreigners turned to net buyers with a net purchase of 683.2 billion won worth of shar

South Korean stocks opened slightly higher Thursday as investors hunted for bargains following the recent extended losses amid dimmed prospects for the US Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index gained 5.91 points, or 0.24 percent, to 2,441.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.25 percent lower, with the S&P 500 slipping 0.56 percent. The tech-heavy Nasdaq had decreased 0.59 percent. The stronger-