Seoul, May 25 (IANS) Foreign investors sold more than 10 trillion won ($6.6 billion) worth of shares in Samsung Electronics and SK hynix last week while extending their net-selling streak in the South Korean stock market to 12 trading sessions, data showed on Monday.Foreigners offloaded a net 5.33 trillion won worth of SK hynix shares and 5.26 trillion won worth of Samsung Electronics shares during the week beginning May 18, according to the data from the Korea Exchange and Yonhap Infomax.Combin…
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Seoul, May 22 (IANS) South Korean stocks opened slightly higher on Friday following the previous session’s sharp rise, tracking overnight gains on Wall Street amid rising hopes for a diplomatic resolution to the conflict between the United States and Iran.After starting 0.74 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) trimmed earlier gains to edge up 2.71 points, or 0.03 percent, to 7,818,3 as of 9:15 a.m.Overnight, U.S. stocks advanced after Iran said the latest prop…
Seoul, May 21 (IANS) South Korean stocks opened markedly higher on Thursday on rising hopes for a possible peace deal between the United States and Iran, and an end to labor unrest at Samsung Electronics, triggering a buy-side sidecar.After starting 3.85 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 277.42 points, or 5.27 percent, to 7,388.52 as of 9:30 a.m, reports Yonhap news agency.As stocks extended gains, a buy-side order in the KOSPI futures was suspended for…
Seoul, May 20 (IANS) Samsung Electronics’ union said on Wednesday it will proceed with the strike scheduled for later this week, arguing management has rejected a government-mediated proposal.”We accepted the mediator’s proposal,” the company’s largest union said, adding that it will go ahead with the legally scheduled general strike as planned, reports Yonhap news agency.The two sides have been holding government-mediated talks over performance-based bonuses, with nearly 48,000 workers schedu…
Seoul, May 15 (IANS) Samsung Electronics’ largest labour union said on Friday it will proceed with a major strike planned for next week despite the company’s proposal to resume talks without preconditions.An official proposal was sent to the union earlier in the day, in what is seen as the management’s latest effort to avert a planned 18-day strike beginning next Thursday that could disrupt production at the world’s largest memory chipmaker.The union reaffirmed its position that it has no inte…
Seoul, May 14 (IANS) Samsung Electronics and the government on Thursday urged labour unions at the world’s largest memory chipmaker to resume wage negotiations after government-mediated talks collapsed earlier this week.The South Korean tech giant sent an official document to its two major labour unions in what is widely viewed as a last-ditch effort to avert a strike scheduled for next Thursday.Two days of government-led mediation talks ended without an agreement Wednesday, as labour and manage…
Seoul, May 14 (IANS) South Korean stocks were trading higher on late Thursday morning, inches away from another historic milestone of 8,000, with large-cap shares showing mixed direction.After starting 0.38 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) had added 53.17 points, or 0.68 percent, to 7,897.18 as of 11:20 a.m. The KOSPI had risen as high as 7991.04 at one point, reports Yonhap news agency.The KOSPI kicked off bullish, tracking overnight tech gains in major U….
Seoul, May 14 (IANS) South Korea’s top economic and financial policymakers on Thursday called for the prompt settlement of a labor dispute at Samsung Electronics, warning that a possible strike could threaten the country’s economy amid a semiconductor supercycle.Finance Minister Koo Yun-cheol and other heads of financial authorities made the joint remarks during a meeting on the potential fallout from a planned walkout by Samsung Electronics workers, according to the Ministry of Finance and Econ…
Seoul, May 13 (IANS) The South Korean economy is projected to expand 2.5 per cent in 2026, supported by strong growth in the semiconductor industry and a recovery in domestic consumption, a state-run think tank said on Wednesday.The Korea Development Institute (KDI) raised its 2026 growth forecast from 1.9 per cent projected in February, noting that the country has maintained solid export growth driven by semiconductors despite a challenging business environment, including Washington’s tariff po…
Seoul, May 13 (IANS) Samsung Electronics and its labour union failed to reach a wage agreement on Wednesday, raising concerns over a major strike later this month that could disrupt operations at the world’s largest memory chipmaker.The breakdown came after two days of government-led mediation talks that had been viewed as a last-ditch effort to avert the strike scheduled for May 21, reports Yonhap news agency.Union and management have remained sharply divided over performance-based bonuses tied…