Seoul shares rise almost 1.5% on chip, battery gains

South Korean stocks finished nearly 1.5 percent higher Wednesday, as investors scooped up semiconductor and battery shares despite overnight losses on Wall Street. The local currency rose sharply against the greenback. The benchmark Korea Composite Stock Price Index gained 37.22 points, or 1.47 percent, to close at 2,574.82. Trade volume was moderate at 396.7 million shares worth 12.23 trillion won ($8.44 billion), with winners outpacing losers 509 to 354. Foreign and institutional investors tog

March 12, 2025

Seoul shares open higher on chip, battery gains

South Korean stocks opened higher Wednesday, as investors shored up semiconductor and battery shares despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index gained 16.22 points, or 0.64 percent, to 2,553.82 in the first 15 minutes of trading. Overnight, US stock markets fell for the second straight session amid lingering uncertainties over tariff policies of US President Donald Trump. The S&P 500 dipped 0.76 percent, and the Dow Jones Industrial Average declined

March 12, 2025

Buyer of record W7.4b luxury Banpo apartment was Uzbek national: data

The new owner of a high-end apartment unit in Seoul’s Banpo district, which was sold for a record 7.4 billion won ($5.09 million) late last year, has been identified as a 41-year-old Uzbek national, data showed Monday. A real estate register, seen by Herald Business, a sister paper of The Korea Herald, revealed that the owner acquired the 244-square-meter unit on the 26th floor of Banpo Xi, a landmark apartment complex in Seocho-gu's Banpo-dong, in November last year. That is 300 million won mor

March 10, 2025

Seoul shares end higher on eased growth concerns

South Korean stocks finished slightly higher Monday as concerns over an economic slowdown was eased by Federal Reserve Chair Jerome Powell's dovish comments. The local currency lost against the US dollar. The benchmark Korea Composite Stock Price Index added 6.91 points, or 0.27 percent, to close at 2,570.39. Trade volume was moderate at 429.4 million shares worth 9.73 trillion won ($6.7 billion), with losers closely outpacing winners 466 to 406. Individual and institutional investors led the da

March 10, 2025

Seoul shares open tad lower ahead of key inflation data

South Korean stocks started a tad lower Monday ahead of key US inflation data amid escalating uncertainties over US tariff policies. The benchmark Korea Composite Stock Price Index lost 1.08 points, or 0.04 percent, to 2,562.40 in the first 15 minutes of trading. Federal Reserve Chair Jerome Powell said last week that the US economy is solid and he has no plan to adjust monetary policy hurriedly, calming the uncertainties for the world's largest economy. The US consumer price index will be relea

March 10, 2025

Foreign investors exit Korean stocks. Will short selling bring them back?

Analyst warns against overestimating short selling’s influence, pointing to foreign investors' broader risk assessments Amid foreign investors' months-long selling streak of Korean stocks, market watchers are closely monitoring whether the resumption of short selling could drive capital inflows or further dampen investor sentiment. Since September, foreign investors have been net sellers in the Kospi for seven consecutive months, offloading a total of 27.7 trillion won ($19.1 billion). This mark

March 9, 2025

Nongshim to raise ramyeon, snack prices on high costs

Nongshim Co., South Korea's leading instant noodle maker, said Thursday it will raise the prices of its instant noodle and snack products next week due to higher raw materials costs. Nongshim plans to raise the retail prices of 14 "ramyeon" products by 7.2 percent and three snack products by 7.4 percent starting March 17, the company said in a press release. In particular, the price of Shin Ramyun, which represents Nongshim's ramyeon products, will rise to 1,000 won ($0.69) from 950 won, while t

March 6, 2025

S. Korea urged to adopt bitcoin reserve, won-backed stablecoin amid Trump’s crypto push

South Korea should consider integrating bitcoin into its national reserves and issuing a won-backed stablecoin, financial experts and industry leaders said at a forum on Thursday. At the seminar, hosted at the National Assembly by the main opposition Democratic Party, the CEO of blockchain firm xCrypton, Kim Jong-seung, stressed the need for a strategic response if the US moves to create a "national strategic reserve of cryptocurrencies,” as announced by President Donald Trump. Trump is widely e

March 6, 2025

Seoul shares end higher for 2nd day on US tariff reprieve

South Korean stocks ended higher for a second straight session Thursday as investor sentiment improved after US President Donald Trump pulled back some of the tariffs on Canada and Mexico. The Korean won was trading sharply higher against the US dollar. The benchmark Korea Composite Stock Price Index added 18.03 points, or 0.7 percent, to close at 2,576.16. Trade volume was moderate at 600.4 million shares worth 11.1 trillion won ($7.7 billion), with gainers outnumbering losers 485 to 392. Forei

March 6, 2025

Seoul shares start higher as Trump delays auto tariffs on Mexico, Canada

South Korean stocks opened higher Thursday after the US administration agreed to delay auto tariffs on Mexico and Canada. The benchmark Korea Composite Stock Price Index gained 19 points, or 0.74 percent, to 2,577.13 in the first 15 minutes of trading. Overnight, major US shares rebounded as investor sentiment improved after the Trump administration suspended new auto duties on Mexico and Canada for a month and signaled it is open to more tariff negotiations. The S&P 500 gained 1.12 percent, and

March 6, 2025

Seoul shares fall for 3rd session amid tariff war woes

South Korean stocks fell for the third consecutive session Tuesday, as US President Donald Trump's sweeping tariff scheme stoked fears of a global trade war. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 3.86 points, or 0.15 percent, to close at 2,528.92. Trade volume was moderate at 475.57 million shares worth 12.84 trillion won ($8.78 billion), with losers outnumbering winners 590 to 310. The index opened slightly higher, despite US losses,

March 4, 2025

Korea’s first alternative stock exchange goes live

Breaking Korea Exchange’s nearly 70-year monopoly, Nextrade offers extended trading hours, lower commission fees Nextrade, South Korea’s first alternative stock trading system, began operations on Tuesday, introducing a 12-hour trading system that extends beyond traditional market hours. The key advantages of trading on Nextrade include flexible trading hours and lower commission fees. However, a limited number of available stocks and low initial liquidity are cited as potential drawbacks. “We w

March 4, 2025

Seoul shares start higher amid Trump tariff woes

South Korean stocks opened slightly higher Tuesday, despite US President Donald Trump's planned imposition of tariffs on Canadian and Mexican goods. The benchmark Korea Composite Stock Price Index gained 8.14 points, or 0.32 percent, to 2,540.92 in the first 15 minutes of trading. Overnight, major US shares slid after Trump said 25 percent tariffs on goods from Mexico and Canada will take effect as planned on Tuesday, sparking fears of a global trade war. The S&P 500 dropped 1.76 percent, and th

March 4, 2025