SK Bioscience to provide more chickenpox vaccines to Latin America

South Korean biotech firm SK Bioscience said Friday it will continue to supply its varicella vaccine to Latin America until 2027 as it secured additional orders from an international health organization under the United Nations. SK Bioscience’s chickenpox vaccine SkyVaricella will be distributed to Latin American countries through the Pan American Health Organization, which procures large quantities of vaccines in the region. The volume of the order has not been decided. The firm made a foray in

Feb. 28, 2025

Seoul shares drop over 3% on looming tariff war, Nvidia slump; won at over 1-month low

South Korean stocks tumbled over 3 percent Friday, dragged down by a possible tariff war threat by US President Donald Trump and a slump in artificial intelligence chip giant Nvidia. The local currency fell sharply to over a one-month low against the US dollar. The benchmark Korea Composite Stock Price Index lost 88.97 points, or 3.39 percent, to close at 2,532.78, following a 0.73 percent drop on the previous day. It is the lowest closing since Feb. 10, when the KOSPI finished at 2,521.27. Trad

Feb. 28, 2025

Seoul shares start sharply lower on US losses

South Korean stocks opened sharply lower Friday, tracking overnight losses on Wall Street weighed down by a slump in chipmaker Nvidia and escalating tariff woes. The benchmark Korea Composite Stock Price Index lost 52.31 points, or 2 percent, to 2,569.44 in the first 15 minutes of trading. Overnight, major US shares declined as the latest Nvidia results failed to boost investor sentiment on artificial intelligence, which has been cooled by China's DeepSeek. The S&P 500 dropped 1.59 percent and t

Feb. 28, 2025

AmCham launches ‘Buy America’ campaign to bolster US-Korea ties

The American Chamber of Commerce in Korea has launched its “Buy America” campaign to encourage Korean companies to purchase more US products. By leveraging its extensive business network, AmCham aims to expand the procurement of US energy, automobiles, agricultural products and other key goods, further strengthening trade and economic cooperation between the two nations. The campaign follows AmCham Chairman and CEO James Kim’s commitment at the “Korea-US Business Night” in Washington, DC, on Feb

Feb. 26, 2025

Seoul shares end 2-day drop ahead of Nvidia earnings release

South Korean stocks snapped a two-session fall Wednesday, driven by gains from bio and information technology stocks, ahead of a fourth-quarter earnings release from Nvidia this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 10.8 points, or 0.41 percent, to close at 2,641.09. Trade volume was slim at 377.9 million shares worth 10.9 trillion won ($7.6 billion), with winners beating losers 543 to 335. Institutions scooped up a net 239.6

Feb. 26, 2025

Seoul shares start tad lower amid rising uncertainties

South Korean stocks opened a tad lower Wednesday as economic uncertainties weighed heavily on Wall Street overnight. The benchmark Korea Composite Stock Price Index fell 0.91 point, or 0.03 percent, to 2,629.38 in the first 15 minutes of trading. US stocks struggled Tuesday, as weaker-than-expected consumer confidence dampened investor sentiment. The S&P 500 and the Nasdaq fell for the fourth consecutive session, driven by losses from big tech companies. In Seoul, major shares started mixed. Top

Feb. 26, 2025

Seoul shares snap 7-day winning streak on profit-taking amid tariff woes

Seoul shares snapped their seven-session winning streak Thursday after Trump's comments on tariffs and the Federal Reserve's cautious stance on rate cuts. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 17.46 points, or 0.65 percent, to close at 2,654.06. Trade volume was moderate at 517.33 million shares worth 14.06 trillion won ($9.7 billion), with winners outnumbering losers 451 to 414. Institutions and foreigners sold a combined 393 billion won

Feb. 20, 2025

Seoul shares open lower after Trump's latest comments on tariffs

Seoul shares opened lower Thursday after US President Donald Trump said he will announce tariffs on cars, chips and pharmaceuticals "over the next month or sooner." The benchmark Korea Composite Stock Price Index fell 6.08 points, or 0.23 percent, to 2,665.44 in the first 15 minutes of trading. Trump recently ordered a 25 percent tariff on all steel and aluminum imports and threatened to impose tariffs of around 25 percent on automobile, semiconductor and pharmaceutical imports as early as April

Feb. 20, 2025

Seoul shares rise for 6th day on tech gains

Seoul shares extended their winning streak to a sixth day Tuesday on the back of gains in tech stocks, with investors remaining cautious about US tariff policies. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 16.39 points, or 0.63 percent, to close at 2,626.81. Trade volume was moderate at 412.18 million shares worth 12.34 trillion won ($8.5 billion), with winners outnumbering losers 478 to 395. Institutions bought a net 165.37 billion won worth

Feb. 18, 2025

Seoul shares open higher amid tariff woes

Seoul shares opened higher Tuesday amid concerns over the impact of new tariffs by the second Donald Trump administration on key industries. The benchmark Korea Composite Stock Price Index rose 0.95 points, or 0.04 percent, to 2,611.37 in the first 15 minutes of trading. Trump recently ordered a 25 percent tariff on all steel and aluminum imports and unveiled a sweeping plan to impose reciprocal tariffs on trading partners. He also said Friday that he could impose tariffs on auto imports beginni

Feb. 18, 2025

Korean gold rush: 'Kimchi premium' for safe-haven asset hits record 20%

A sharp surge in demand for gold has raised the “kimchi premium” on the price of the safe-haven asset, driving the gap between gold prices in South Korea and international markets to over 20 percent. While the term “kimchi premium” has been mostly used recently to refer to price gaps in cryptocurrencies, now even gold has become subject to the phenomenon, as local investors flock to the asset to hedge against fears of trade wars and geopolitical uncertainty sparked by US President Donald Trump.

Feb. 17, 2025

Shinsegae chairman ups stake in discount outlet unit

Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, has acquired an additional stake in the group's discount store affiliate, Emart Inc., for responsible management, the group said Friday. Chung purchased 2.78 million Emart shares, held by his mother and the group's general chairwoman Lee Myung-hee, for 225.1 billion won ($156 million) in after-hours trading on Tuesday, the group said in a regulatory filing. The chairman used his personal assets for the stock purchase,

Feb. 14, 2025

Korea’s chocolate prices soar as cocoa shortages shake global supply

Chocolate lovers in South Korea are feeling the sting this Valentine’s Day as soaring global cocoa prices drive up the cost of their favorite treats. Over the past year, the price of cocoa -- the essential ingredient in chocolate -- has skyrocketed 92 percent, reaching $11,310 per ton on Feb. 12. This marks a staggering increase from $2,400-$2,500 per ton in early 2022, and with ongoing supply shortages, prices are unlikely to drop anytime soon. In response, South Korean retailers have hiked cho

Feb. 14, 2025

Seoul shares rise for 2nd day on tech, shipbuilder gains amid Trump tariff woes

South Korean stocks finished higher Wednesday, led by gains of tech shares and shipbuilders, as investors digested US President Donald Trump's new tariff scheme. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 9.34 points, or 0.37 percent, to close at 2,548.39, extending a winning streak to a second session. Trade volume was moderate at 453.32 million shares worth 13.19 trillion won ($9.08 billion), with losers outnumbering winners 551 to 332.

Feb. 12, 2025

Standard Chartered Bank Korea launches global asset management campaign

Standard Chartered Bank Korea announced Wednesday the launch of a new campaign, “Now’s Your Time for Wealth,” aimed at providing customized investment solutions leveraging the bank’s international expertise and global network. The campaign highlights the importance of long-term global investment and offers tailored wealth management services designed to benefit future generations. “With over 170 years of global asset management experience and a team of international investment professionals acro

Feb. 12, 2025