Seoul shares open lower on tech losses

South Korean stocks opened lower Wednesday, led by losses of big-cap tech shares amid concerns about US President Donald Trump's sweeping tariff plan. The benchmark Korea Composite Stock Price Index shed 6.21 points, or 0.24 percent, to 2,532.84 in the first 15 minutes of trading. Companies are scurrying to minimize the impact of Trump's new tariff scheme on their businesses, as Washington plans to impose 25 percent tariffs on all steel and aluminum imports into the United States. Trump is also

Feb. 12, 2025

KRX CEO labels corporate reform drive a 'success'

The South Korean government’s push to boost the market value of listed companies here has been “successful” when considered apart from external factors, according to the chief of the country’s stock market operator. "Leaving out the variable of international competition, the initiative has been significantly successful in terms of resolving the (Korea) discount," Korea Exchange CEO Jeong Eun-bo said in a press conference at the bourse operator’s headquarters in Yeouido, western Seoul, on Tuesday

Feb. 11, 2025

Trump's tariff threats drive up 'kimchi premium' in Korea's crypto market

Local investors flock to virtual assets to hedge against trade war US President Donald Trump’s latest threats to impose tariffs on key trading partners have fueled the “kimchi premium,” the price gap between cryptocurrency values in South Korea and international markets. Earlier this month, when Trump announced plans to impose 10 percent tariffs on China and broad 25 percent tariffs on Canada and Mexico — which he later backtracked on — the price of bitcoin plunged on overseas exchanges. The mar

Feb. 11, 2025

[Reporter’s Notebook] There's no winner in destructive fight

Prolonged dispute over control of Korea Zinc turns into game of chicken at cost of industrial competitiveness The fight for management control over Korea Zinc has been long, nasty and expensive -- more so than any party to the dispute could have imagined. Korea Zinc has been quietly expanding its market presence as a hidden champion -- the world's No. 1 non-ferrous metal smelting company, producing the largest quantities of four metals: zinc, lead, silver and indium. It also makes several rare m

Feb. 11, 2025

Can’t cancel that subscription? Korea is cracking down on ‘dark patterns’

From frustratingly difficult-to-cancel subscriptions to hidden shipping fees, dark patterns -- manipulative online design tactics that trick consumers into spending more -- are widespread in South Korea’s e-commerce market. Now, the government is taking action. Starting Feb. 14, the Korea Fair Trade Commission will enforce new regulations under the revised Electronic Commerce Act aimed at curbing misleading practices that obscure pricing, complicate cancellations and pressure users into unwanted

Feb. 11, 2025

Seoul shares nearly flat amid Trump tariff woes

South Korean stocks finished almost unchanged Monday amid woes that Donald Trump's pledge to impose sweeping tariffs soon may trigger a global tariff war. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 0.65 point, or 0.03 percent, to close at 2,521.27. Trade volume was moderate at 386.81 million shares worth 10.38 trillion won ($7.15 billion), with losers outnumbering winners 454 to 414. Foreigners and retail investors sold a net 277.24 billio

Feb. 10, 2025

Seoul shares open lower on Trump tariff woes

South Korean stocks opened lower Monday on news that US President Donald Trump will soon announce sweeping tariffs on American imports. The benchmark Korea Composite Stock Price Index shed 16.39 points, or 0.65 percent, to 2,505.53 in the first 15 minutes of trading. Foreign investors sold shares, offsetting buying by retail and institutional buying. Trump said Sunday that he will announce a new 25 percent tariff on all steel and aluminum imports into the United States, according to foreign medi

Feb. 10, 2025

New bourse operator to usher in 12-hour stock trading sessions from March

Nextrade eyes 10 percent market share in three years The South Korean stock market will welcome a new bourse operator for the first time in nearly 70 years, as alternative trading system Nextrade is set to make its debut on March 4. The launch of Nextrade is poised to stir up the market by putting an end to the monopoly power that the country’s sole operator Korea Exchange has enjoyed for decades, providing extended-hours trading sessions before and after regular market hours. “We are going over

Feb. 7, 2025

Seoul shares rise for 3rd session on chip gains, tariff concern relief

South Korean stocks rose more than 1 percent Thursday driven by solid gains of tech giants amid a pause by the Donald Trump administration in imposing sweeping tariffs. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 27.48 points, or 1.1 percent, to close at 2,536.75, extending the winning streak to a third session. The index opened higher, tracking overnight increases on Wall Street, and extended gains further. Trade volume was moderate at 47

Feb. 6, 2025

Seoul shares open higher on Wall Street gains

Seoul shares opened higher Thursday, tracking gains on Wall Street, amid eased concerns over a trade war between the United States and China. The benchmark Korea Composite Stock Price Index rose 12.07 points, or 0.48 percent, to 2,521.34 in the first 15 minutes of trading. Overnight, US stocks advanced, helped by eased concerns about a potential global trade war amid US President Donald Trump's 30-day reprieves for tariffs on both Mexico and Canada announced earlier this week. The Dow Jones Indu

Feb. 6, 2025

Seoul shares close over 1% higher on Trump's tariff delay

South Korean stocks closed over 1 percent higher Tuesday as investors shored up blue chips following Washington's decision to postpone the imposing of tariffs on goods from Canada and Mexico. The Korean won was trading higher against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.74 points, or 1.13 percent, to close at 2,481.69. Trade volume was high at 473 million shares worth 18.8 trillion won ($7.39 billion), with winners outpacing losers 690 to 207. Institutions and f

Feb. 4, 2025

Seoul shares open higher on bargain hunting

South Korean stocks opened higher Tuesday as investors scooped up tech, automotive and other blue chips following steep losses the previous session. The benchmark Korea Composite Stock Price Index climbed 34.95 points, or 1.42 percent, to 2,488.90 in the first 15 minutes of trading. On Monday, the Kospi plummeted 2.52 percent amid concerns over the United States' decision last week to impose high tariffs on goods imported from Canada and Mexico, potentially affecting South Korean businesses oper

Feb. 4, 2025

Seoul shares dip on DeepSeek shock; won at 2-week low

South Korean stocks ended lower Friday after a weeklong holiday as tech shares sharply slid in the aftermath of a recent shock from the emergence of Chinese artificial intelligence startup DeepSeek. The Korean won was trading sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index dropped 19.43 points, or 0.77 percent, to close at 2,517.37. The Kospi was closed from Monday to Thursday due to the Lunar New Year holiday. Trade volume was moderate at 443 million shares

Jan. 31, 2025

Seoul shares open lower on 'DeepSeek shock'

South Korean stocks started lower Friday after a weeklong holiday, bracing for the aftermath of the emergence of Chinese artificial intelligence startup DeepSeek. The benchmark Korea Composite Stock Price Index shed 33.33 points, or 1.31 percent, to 2,503.47 in the first 15 minutes of trading. The KOSPI was closed from Monday to Thursday due to the Lunar New Year holiday. The "DeepSeek shock" drove down big-cap tech shares, with market heavyweight Samsung Electronics down 2.61 percent and its ch

Jan. 31, 2025

Seoul shares close higher on hopes for rate cuts

South Korean stocks finished higher Friday as US President Donald Trump's call for interest rate cuts boosted appetite for risky assets. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 21.31 points, or 0.85 percent, to close at 2,536.8, rebounding from a 1.24 percent drop the previous day. Trade volume was moderate at 576.9 million shares worth 9.83 trillion won ($6.87 billion), with winners outnumbering losers 542 to 321. Foreigners purchas

Jan. 24, 2025