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Tue, August 16, 2022 | 09:28

Korean brokerages suffer earnings shocks in 1st half of 2022 amid rate hikes

Earnings at major securities firms here appear to have plummeted in the first half of this year, as steep rate hikes and fears of an economic downturn deterred the influx of capital into the local stock market. Korea's top 10 brokerages, including Mirae Asset Securities, Korea Investment & Securities and Samsung Securities, are estimated to have chalked up a combined net prof...

Lee Min-hyung | 2022-08-15 15:49

Foreign ownership of Korean stocks falls to 13-year low

The ratio of Korean stocks owned by foreign investors dropped to a 13-year low of 30.51 percent, according to the Korea Exchange (KRX), Sunday, adding to the woes of the nation's stock market, which has performed poorly in Asia due to global economic risks this year. Some analysts say the benchmark KOSPI is forecast to rebound in August, but whether such a trend will last rem...

Yi Whan-woo | 2022-08-14 15:49

Financial authority seeks to promote pet insurance

A pan-government task force team to promote the local pet insurance market will be launched next month, as the Yoon administration aims to fulfill its pledge of invigorating the pet insurance market, which was one of the Yoon government's 110 national task agenda items

Anna J. Park | 2022-08-14 15:30

Flood damage to vehicles during torrential rain to hit insurers

Over a thousand luxury cars have been flood damaged during the record torrential rainfall that mostly struck wealthy districts of southern Seoul earlier this week, wreaking havoc on non-life insurers' profitability. According to insurance industries, over 1,500 cases of flood damaged high-end cars due to Monday's deluge have been submitted to major non-life insurance companie...

Anna J. Park | 2022-08-10 16:33

Banks feared to continue sluggish stock performance amid recession fears

Major financial firms here will continue facing a tough time in recovering their stock value even in the second half of this year, as they are under growing pressure to bolster security against bad debts amid escalating recession fears, market analysts said. The outlook is in contrast to the rosy earnings outlook of major banking groups. According to data from market tracker ...

Lee Min-hyung | 2022-08-10 16:23

Major firms' CEOs unload company shares amid weak stock market

Chief executive officers of Korea's major listed companies have sold a large amount of their company shares this year amid a bear market, a corporate tracker said Wednesday.

2022-08-10 09:55

SOCAR's IPO price set at 28,000 won, much lower than hoped, amid weak demand

South Korea's largest car-sharing platform operator SOCAR said Tuesday its initial public offering (IPO) price has been set at 28,000 won ($21.44) per share, which is much lower than the price range it had hoped for amid apparently weak demand. The price was determined after SOCAR conducted a two-day demand forecasting from domestic and foreign institutional investors that en...

2022-08-09 20:31

Pelosi's Taiwan visit pushes Korean confectionery shares to soar

U.S. House Speaker Nancy Pelosi's visit to Taiwan is having an unexpected positive effect on Korean confectionary companies. Their stock prices rose steeply on Wednesday on reports that China banned importation of Taiwanese food items on the eve of the contentious visit.

Yoon Ja-young | 2022-08-04 09:00

Are retail investors deserting KOSPI?

While the main benchmark KOSPI showed signs of a slight recovery in late July after months of severe plunges, retail investors have resorted to net-selling local stocks. According to the Korea Exchange (KRX), retail investors net-sold KOSPI-listed stocks worth 976.4 billion won during the six trading sessions from July 25 to August 1, when the main benchmark index logged a co...

Anna J. Park | 2022-08-02 16:36

Economic quadruple whammy weighs on SMEs

A quadruple whammy of soaring inflation, the Korean won's plummeting value against the U.S. dollar, sharply rising interest rates and demands for wage hikes are dealing a blow to small and medium-sized enterprises (SMEs), which are more susceptible to the economic crisis than conglomerates. According to recent data compiled by the Korea Industrial Complex Corp., a total of 1,...

Yi Whan-woo | 2022-08-01 16:12

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