Seoul, July 13 (IANS) Seoul shares plunged 9 per cent on Monday as investors dumped technology stocks for profit-taking amid renewed tensions in the Middle East. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 669.01 points, or 8.95 percent, to close at 6,806.93 after falling as low as 6,783.43, reports Yonhap news agency.Trade volume was moderate at 469.86 million shares worth 39.8 trillion won (US$26.5 billion), with decliners far outnumbe…
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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, July 8 (IANS) South Korea posted an all-time high current account surplus in May on robust exports of semiconductors, central bank data showed on Wednesday.The current account surplus totalled $38.61 billion in May, up from $28.29 billion the previous month, according to the data from the Bank of Korea (BOK).It marked the largest monthly current account surplus ever, renewing the previous record of $37.93 billion set in March, reports Yonhap news agency.Compared with the same month a year…
Seoul, July 1 (IANS) Seoul’s antitrust watchdog said on Wednesday it has launched an investigation into US-based Google, as well as its Singaporean and South Korean offices, over allegations of violations of the fair trade law involving game developers on its app marketplace.The Fair Trade Commission (FTC) said its examiners’ report showed Google has abused its dominance in the Android marketplace, with related sales totalling US$9.21 billion. Under the law, the watchdog may impose a fine of up …
Seoul, June 30 (IANS) South Korea and Ukraine agreed Tuesday to work toward resolving the issue of North Korean Prisoners of War (PoWs) captured in Ukraine in accordance with international law and humanitarian principles, Seoul’s foreign ministry said.The consensus was made during a meeting between Foreign Minister Cho Hyun and his Ukrainian counterpart, Andrii Sybiha, in Seoul earlier in the day, according to the ministry.Two North Korean soldiers were captured by Ukrainian forces in early 2025…
Seoul, June 30 (IANS) South Korea’s industrial output fell in May from a month earlier due mainly to a decline in chip production caused by a base effect and volume adjustments, data showed on Tuesday, while retail sales rebounded slightly over the period.Industrial production fell 0.3 percent last month from April, according to data from the Ministry of Data and Statistics, extending on-month losses for two consecutive months, reports Yonhap news agency.Output in the mining and manufacturing se…
Seoul, June 25 (IANS) Five more South Korean-operated vessels have exited the Strait of Hormuz following last week’s ceasefire agreement between the United States and Iran, bringing the total number of vessels that have left the region to 11, the maritime ministry said on Thursday.The Ministry of Oceans and Fisheries said the ships safely passed through the strategic waterway and are sailing normally.A total of 21 South Korean sailors were aboard the vessels, with one vessel bound for South Kore…
Seoul, June 24 (IANS) The presidential policy chief said on Wednesday that the advent of a new artificial intelligence (AI) era requires new state infrastructure, calling for aggressive investment to bolster the country’s potential growth trajectory in AI.Kim Yong-beom, presidential chief of staff for policy, made the point at a discussion hosted by the Kwanhun Club, a senior journalists’ association, amid a stock market boom in South Korea driven by record profits and stock gains by AI-related …
Seoul, June 23 (IANS) North Korean leader Kim Jong-un has called for efforts to further increase his country’s nuclear arsenal “with a goal of overtaking the world,” Pyongyang’s state media reported Tuesday.According to the Korean Central News Agency (KCNA), the ruling Workers’ Party of Korea (WPK) convened the second plenary meeting of its ninth central committee for three days from Saturday, presided over by leader Kim, to assess how the country’s policies have fared in the first half of the y…
Seoul, June 22 (IANS) Chip major SK hynix has surpassed Samsung Electronics in terms of market capitalisation for the first time, the bourse operator said on Monday.The market capitalisation of SK hynix reached 2,091 trillion won ($1,358 billion) at 12:42 p.m., surpassing Samsung Electronics’ 2,090 trillion won, according to the Korea Exchange (KRX), reports Yonhap news agency.It marked the first time that Samsung Electronics has given up its throne on the benchmark Korea Composite Stock Price I…