Seoul, June 7 (IANS) More stocks listed on the benchmark Korea Composite Stock Price Index (KOSPI) have declined than advanced in recent weeks despite the market rally, the bourse operator said on Sunday, suggesting that investment is increasingly concentrated in a handful of heavyweight semiconductor stocks.According to the Korea Exchange (KRX), an average of 210 KOSPI-listed stocks advanced, while 586 declined and the remainder were unchanged during the two-week period from May 26 through Frid…
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Seoul, May 31 (IANS) Foreign selling of South Korean stocks listed on the benchmark Korea Composite Stock Price Index (KOSPI) reached a record high in May, while foreign investors poured a record amount into the tech-heavy KOSDAQ market, data showed on Sunday.Offshore investors sold a net 44.71 trillion won (US$29.66 billion) worth of local stocks in May, surpassing the previous record of 35.74 trillion won in net selling set in March, according to data from the Korea Exchange (KRX), reports Yon…
Seoul, May 27 (IANS) A labour union at Kakao, the operator of South Korea’s popular messenger service, and the company’s management began a second round of mediation with the Gyeonggi Regional Labor Relations Commission on Wednesday, industry sources said.The mediation procedures came after the two sides failed to narrow differences in the first round of wage talks held May 18, according to sources, reports Yonhap news agency.If the regional labour office decides to suspend the mediation, unioni…
Seoul, May 26 (IANS) South Korea’s benchmark Korea Composite Stock Price Index (KOSPI) wrapped up Tuesday’s trading session above 8,000 points, as foreign investors returned to net buyers of local stocks on expectations that the United States and Iran may be nearing a deal to end the war in the Middle East.The KOSPI jumped more than 2.8 percent to open at 8,070.91 points, breaking above an intraday high of 8,046.78 points that was reached May 15, reports Yonhap news agency.The index rose as high…
Seoul, May 25 (IANS) Average daily transactions in South Korea’s benchmark index surpassed 40 trillion won ($26.4 billion) for the first time this month amid a record-breaking market rally, bourse data showed on Monday.The daily turnover of the Korea Composite Stock Price Index (KOSPI) averaged 48.05 trillion won during the first 22 days of May, according to the data from the Korea Exchange (KRX).The figure marked the highest monthly average on record, surpassing the previous high of 32.23 trill…
Seoul, May 24 (IANS) South Korea’s financial authorities are moving to allow foreign investors to trade domestic exchange-traded funds (ETFs) directly, a measure that could help draw more overseas money into Korean assets amid a record-setting rally in the benchmark KOSPI, sources said on Sunday.The KOSPI has been among the world’s best-performing stock indexes this year, rising 82 percent from 4,309.63 on the first trading day of the year to close at 7,847.71 on Friday, driven largely by strong…
Washington, May 23 (IANS) US Trade Representative Jamieson Greer said that there were no immediate semiconductor tariffs coming, according to a report, though he underscored the importance of protecting America’s chip sector.Greer made the remarks at Micron Technology’s memory chip plant expansion project outside Washington, Reuters reported, apparently referring to sectoral duties on chip imports that might come after national security investigations under Section 232 of the Trade Expansion Act…
Seoul, May 19 (IANS) The Bank of Korea (BOK) has estimated that a general strike at Samsung Electronics Co. could cut 0.5 percentage point off South Korea’s economic growth this year, officials said on Tuesday.The central bank recently compiled a closed-door report on the matter and submitted it to the finance ministry, according to the officials, reports Yonhap news agency.The report estimated losses from the potential strike at around 30 trillion won (US$20 billion), noting it could take up to…
Seoul, May 18 (IANS) South Korean President Lee Jae Myung said on Monday that companies’ management rights should be respected as much as labor rights.Lee posted the message on his X account as Samsung Electronics Co. and its unionized workers began negotiations for a last-minute breakthrough ahead of the union’s planned 18-day strike starting Thursday.”In South Korea, which has adopted the basic orders of democracy and free market economy, labor should be respected as much as companies, and cor…
Seoul, April 30 (IANS) South Korean President Lee Jae Myung on Thursday warned that excessive labour-related demands by unionized workers could end up doing more harm than good to the unions and other fellow workers, urging a more responsible approach from unions when dealing with labour issues. “While companies should treat workers as valuable partners in corporate management, workers and labour unions must also have a sense of responsibility,” Lee said during a meeting with senior aides at Che…