Seoul, July 28 (IANS) South Korean stocks plummeted more than 8 per cent on Tuesday as investors dumped tech shares amid heightened fears over artificial intelligence (AI) investment.After opening 5.26 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 580.04 points, or 8.59 percent, to 6,175.71 as of 11:20 am (local time).The Korea Exchange (KRX) triggered the market-wide circuit breaker at 10:14 a.m. after the KOSPI plunged more than 8 percent from …
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Seoul, July 9 (IANS) Seoul shares trimmed earlier gains late Thursday morning on retail selling, though institutions and foreigners bought bargain-priced chip stocks following the recent massive sell-off.After opening 3.3 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) erased its earlier gains and moved up 150.61 points, or 2.08 percent from the day before, to 7,397.40 as of 11:20 am, reports Yonhap news agency.Despite the gains, investors remain concerned about renewed g…
Seoul, May 7 (IANS) SK Telecom, South Korea’s leading mobile carrier, said on Thursday its net profit fell 12.5 per cent from a year earlier as the company continued to deal with the aftermath of a massive data breach last year.Net income came to 316.4 billion won (US$218 million) in the first three months of this year, down from 361.6 billion won a year ago, the company said in a regulatory filing, reports Yonhap news agency.Operating profit for the January-March period fell 5.3 percent on-year…
Seoul, Feb 5 (IANS) SK Telecom, South Korea’ leading mobile carrier, said on Thursday its annual net profit plunged 73 per cent from a year earlier in 2025 due mainly to massive compensation costs following a data breach that affected its entire 25 million-user base.The company posted net profit of 375.1 billion won ($255.6 million) last year, compared with a profit of 1.39 trillion won in 2024, the company said in a regulatory filing. Its operating income fell 41.1 percent on-year to 1.07 trill…
Seoul, Jan 14 (IANS) South Korean cybersecurity authorities estimate that around 9.6 million accounts may have been affected by a recent cyberattack at Kyowon Group, a local education service provider, informed sources said on Wednesday.The estimate by a government investigation team that includes the Korea Internet & Security Agency comes after Kyowon Group reported a possible breach on Monday, saying it had detected traces of a ransomware attack, reports Yonhap news agency.Kyowon said it b…