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Record-breaking W25b apartment deal reinforces Hannam-dong’s status as luxury enclave
An apartment unit in Nine One Hannam, one of Seoul’s most exclusive residential complexes in Seoul’s upscale Hannam-dong, has shattered South Korea’s real estate records this year with a jaw-dropping 25 billion won ($18.5 million) sale. According to the Ministry of Land, Infrastructure and Transport's transaction disclosure system, a 273-square-meter unit in the complex changed hands this past February in an all-private deal between individuals. This marks the highest apartment transaction price
May 16, 2025 -
Korean crypto CEO to join Trump's inner circle of 'meme coin' millionaires
A South Korean crypto firm CEO has landed an unexpected invitation to an upcoming private dinner with US President Donald Trump on May 22, after becoming one of the largest holders of the president’s own cryptocurrency, $TRUMP. The May 22 event at Trump National Golf Club in Washington is limited to just 25 people worldwide, a group chosen based on their weighted holdings of $TRUMP between the coin’s Jan. 17 launch and May 12. The only Korean on the list is Oh Sang-rok, CEO of Hyperithm, a Seoul
May 15, 2025 -
Seoul shares open lower after 3-day rise
South Korean stocks started lower Thursday as investors attempted to cash in recent gains amid eased tariff woes. The benchmark Korea Composite Stock Price Index lost 6.13 points, or 0.23 percent, to 2,634.44 in the first 15 minutes of trading. The index jumped 1.23 percent the previous day, extending its winning streak to a third day. On Wall Street overnight, US stocks finished mixed. The Dow Jones Industrial Average fell 0.21 percent, while the S&P 500 gained 0.10 percent and the Nasdaq Compo
May 15, 2025 -
Seoul shares open higher on chip gains amid eased tariff concerns
South Korean stocks opened higher Wednesday as investors shored up semiconductor and heavy industry shares amid eased tariff concerns following a recent trade agreement between the United States and China. The benchmark Korea Composite Stock Price Index rose 16.59 points, or 0.64 percent, to 2,625.01 in the first 15 minutes of trading. Chip giants Samsung Electronics and SK hynix jumped 0.97 percent and 3.02 percent, respectively, tracking overnight US tech share gains over news of Nvidia's plan
May 14, 2025 -
Seoul shares edge up after US-China trade deal; won sharply down
South Korean stocks edged up Tuesday following a trade agreement between the United States and China. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 1.09 points, or 0.04 percent, to close at 2,608.42, following a 1.17 percent jump on the previous day. Trade volume was moderate at 413.3 million shares worth 8.32 trillion won ($5.87 billion), with gainers closely beating decliners 450 to 418. Institutions and individuals led the daily d
May 13, 2025 -
Won falls as US-China tariff truce lifts dollar
The Korean won weakened Tuesday, hit by the strengthening of the US dollar as Washington and Beijing deescalated their trade war. The benchmark Kospi remained flat, unable to join the global stock rally. The won stood at 1,416 won per dollar as of the close of daytime trading Tuesday, down 13.6 won from the previous session. After opening at 1,415 won, it briefly strengthened to 1,408 won before slipping to 1,420.5 during the session. On the previous day, the won had weakened to 1,426 per dollar
May 13, 2025 -
Seoul shares open nearly flat after US-China trade deal
South Korean stocks started nearly unchanged Tuesday following a trade agreement between the United States and China. The benchmark Korea Composite Stock Price Index added 0.75 point, or 0.03 percent, to 2,608.08 in the first 15 minutes of trading. After two-day talks in Switzerland over the weekend, the US and China agreed to cut reciprocal tariffs on each other for 90 days. Wall Street welcomed the deal, with three major indexes rising sharply. The Dow Jones Industrial Average rose 2.81 percen
May 13, 2025 -
Seoul shares soar over 1% on hopes for US-China trade deal
South Korean stocks ended more than 1 percent higher Monday as the United States and China wrapped up their first high-level tariff negotiations, boosting hopes the two countries may reach a trade deal. The local currency was weak against the US dollar. The benchmark Korea Composite Stock Price Index added 30.06 points, or 1.17 percent, to close at 2,607.33. Trade volume was moderate at 406.5 million shares worth 8.45 trillion won ($6 billion), with winners outnumbering losers 659 to 240. Instit
May 12, 2025 -
Samyang Foods' stock tops W1m on Buldak boom
Shares of Samyang Foods surged past 1 million won ($715) on Monday, hitting an all-time high on the back of strong global demand for its fiery Buldak noodles. The stock opened at 1,001,000 won per share, up 0.81 percent from Friday’s close, briefly touching 1,004,000 won in premarket trading on Nextrade. Yet, profit-taking reversed earlier gains, with the stock ending the day down 4.73 percent at 946,000 won. The milestone puts the noodle maker among a rare group of Korean firms with seven-figur
May 12, 2025 -
LG Chem debuts diabetes treatment Zemidapa in Thailand
LG Chem, Korea’s leading chemical company, announced Thursday that it has begun the global expansion of its new diabetes combination drug Zemidapa, marking its first export milestone with a launch in Thailand. To kick off the launch, the company hosted the “Zemi-Connect Global” symposium in Bangkok, attended by over 120 endocrinologists from Korea, Thailand and the Philippines. The event was held alongside the International Diabetes Federation 2025 Congress, where LG Chem was a main sponsor. Zem
May 8, 2025 -
Seoul shares rise for 2nd day on US-China talks; won jumps to 5-month high
South Korean stocks rose for the second consecutive session Wednesday driven by hopes for US-China trade negotiations. The local currency rose to a five-month high against the US dollar. The benchmark Korea Composite Stock Price Index added 14.01 points, or 0.55 percent, to close at 2,573.80, following a 0.12 percent gain on Friday. The local financial market closed on Monday and Tuesday for the Children's Day and Buddha's Birthday holidays. Trade volume was moderate at 538.5 million shares wort
May 7, 2025 -
Seoul shares open tad higher on upcoming US-China trade talks
South Korean stocks opened a tad higher Wednesday on news that the United States and China will start trade talks later this week following President Donald Trump's tariff policies. The Korean won also started sharply higher to trade at a six-month high of 1,380 won per dollar at the opening. The benchmark Korea Composite Stock Price Index added 0.74 point, or 0.03 percent, to 2,560.53 in the first 15 minutes of trading. The Washington-Beijing trade negotiations are scheduled to take place in Sw
May 7, 2025 -
Won climbs on softer US tariffs, Taiwan currency surge
With the South Korean won having recently gained strength, the record gain of the Taiwanese dollar, sparked by speculation about Taiwan's trade talks with the US, sent other Asian currencies rallying and further pushed up the value of the won. The Korean won appreciated against the US dollar in offshore trading, with the one-month non-deliverable forward contract quoted at 1,372.9 won on the New York forex market. If this level were to hold, the Korean won would open in the 1,370 won range again
May 6, 2025 -
Short selling turnover decreases one month after resumption
Short selling activity in South Korea has returned to near pre-ban levels about a month after a yearlong suspension was lifted, the bourse operator said Sunday. On March 31, South Korea reinstated short selling for all listed companies, ending a ban that began in November 2023 following revelations of naked short selling violations involving several global investment banks. According to the Korea Exchange, short selling on the main KOSPI and secondary KOSDAQ markets averaged 848.5 billion won pe
May 4, 2025 -
Seoul shares open lower amid tariff woes, political turmoil
Seoul shares opened lower Friday, weighed down by losses in tech and auto stocks, as investors continued to assess the impact of US President Donald Trump's import tariffs on major companies' earnings and the political turmoil at home. The benchmark Korea Composite Stock Price Index fell 12.86 points, or 0.5 percent, to 2,543.75 in the first 15 minutes of trading. The main index bucked overnight gains on Wall Street. The Dow Jones Industrial Average rose 0.21 percent, while the tech-heavy Nasdaq
May 2, 2025