South Korean stocks rose more than 1 percent higher for the second straight session Monday on the back of a foreign buying spree. The local currency slightly increased against the US greenback. The benchmark Korea Composite Stock Price Index added 31.5 points, or 1.19 percent, to close at 2,680.26, following a 1.34 percent jump Friday. Trade volume was slim at 413.7 million shares worth 9.6 trillion won ($7.2 billion), with gainers beating decliners 617 to 261. Foreigners were net buyers with 60

Seoul shares closed higher Friday, as investors placed their bets on a possible rate cut by the US Federal Reserve and US retail sales fell by a wider margin than expected. The Korean won fell against the US dollar. The benchmark Kospi added 34.96 points, or 1.34 percent, to close at 2,648.76. Trade volume was moderate at 584.7 million shares worth 10 trillion won ($7.5 billion), with decliners outnumbering gainers 627 to 249. Foreign investors were net buyers to the tune of 558.4 billion won, w

LG Chem announced Thursday that the company will work together with food giant CJ CheilJedang to produce bio-based nylon, an eco-friendly alternative to traditional synthetic polymers. LG Chem said the two companies signed a heads of agreement on Wednesday to establish a joint venture that will produce ingredients and bio-based nylon products. “It has not been determined yet, but the two companies are expected to establish the joint company as early as this year,” an official familia

Seoul shares closed lower Thursday as investors attempted to cash in recent gains. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.62 points, or 0.25 percent, to close at 2,613.80. Trade volume was moderate at 607.8 million shares worth 10.25 trillion won ($7.68 billion), with decliners outnumbering gainers 539 to 330. Foreigners and institutions sold stocks worth 14.8 billion won and 49.3 billion won, respectively, while individuals purchased

General Motors CEO Mary Barra visited South Korea to meet the automaker’s Korean battery manufacturers -- LG Energy Solution and Samsung SDI -- to strengthen their partnerships further and discuss the global electric vehicle transition amid slowing EV growth. According to industry sources, the GM chair on Wednesday met with LG Energy Solution CEO Kim Dong-myung and Samsung SDI CEO Choi Yoon-ho in Seoul. Barra was spotted at Gimpo International Airport on Tuesday evening. The visit marked

South Korean shares closed lower for a second consecutive day Tuesday amid US rate woes prompted by the Federal Reserve chair. The local currency slightly gained ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 15.11 points, or 0.58 percent, to close at 2,576.20. Trade volume was heavy at 404.4 million shares worth 10.1 trillion won ($7.6 billion), with losers outnumbering gainers 613 to 265. Foreign investors scooped up a net 338.1 billion won worth of shares,

Despite lingering management risks, tech giant Kakao may see a surprise increase in its stock price this year, with analysts bullish on its advertising and commerce businesses. According to market intelligence firm FnGuide, Kakao's target price, provided by more than three analysts, was 69,458 won ($51.90) as of Sunday, up 10.6 percent from 62,783 won recorded at the end of last year, marking the highest increase rate among the target prices of the top 20 firms listed on the Korean stock ma

South Korean stocks rose by almost 3 percent Friday, backed by techs, autos and financials following solid earnings reports from US big techs. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 72.85 points, or 2.87 percent, to 2,615.31. Trade volume was high at 580 million shares worth 14.1 trillion won ($10.7 billion), with winners far outpacing losers 710 to 180. Foreign investors and institutions drove up the Kospi, buying shares worth 1.89 tri

Posco Holdings has confirmed a total of six finalists to compete for the Korean steel giant's top post, as the current Chairman Choi Jeong-woo’s official term is due to expire in March. On Wednesday, the company's CEO Recommendation Committee unveiled the six chairman candidates, including three Posco veterans and three outsiders, after their eight meetings over the past few weeks. The committee has been reviewing the finalists since Dec. 21 after Chairman Choi chose not to seek

South Korean stocks closed slightly lower Wednesday, hurt by declines in semiconductor stocks after chip giant Samsung Electronics reported its fourth-quarter earnings. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 1.72 points, or 0.07 percent, to 2,497.09. Trade volume was moderate at 443.1 million shares worth 8.69 trillion won ($6.50 billion), with losers outpacing winners 525 to 350. Market watchers cited the mixed performance of overnight Wa

South Korean stocks opened weaker Wednesday ahead of a key rate decision by the US Federal Reserve this week. The benchmark Korea Composite Stock Price Index slid 6.01 points, or 0.24 percent, to 2,492.80 in the first 15 minutes of trading. Overnight, US stocks closed mixed as Wall Street waited for the Fed's latest decision on interest rates. The Dow Jones Industrial Average inched up 0.35 percent, while the S&P 500 shed 0.06 percent. The Nasdaq composite dropped 0.76 percent. In Seoul

South Korean stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 18.70 points, or 0.75 percent, to 2,519.35 in the first 15 minutes of trading. Overnight, US stocks gained ground as investors looked ahead to scheduled earnings announcements by major companies and the Federal Reserve's rate decision meeting later this week. The S&P 500 climbed 0.8 percent to close at a fresh high, while the Dow Jones Indu

Korean private equity firms are increasingly betting big on health-focused companies at home and abroad, in a bid to capitalize on the growth potential of the health care and wellness sector amid a globally aging population. In Korea alone, where accelerated demographic change is observed due to the low birth rate, the number of people aged 65 or over was 9.73 million in 2023, about 20 percent of the total population, surging from 10 percent back in 2010. Hahn & Co., the nation's largest pri

Seoul shares closed higher Friday on battery gains amid a report that the US economy remains resilient. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.22 points, to 2,478.56. The Kospi has risen 0.2 percent this week. Trading volume was slim at 285.54 million shares worth 7 trillion won ($5.2 billion), with gainers outpacing losers 549 to 312. Institutions and foreigners bought a combined 380 billion won worth of stocks, offsett

LG Energy Solution marks KRW 33.7 trillion in consolidated revenue and KRW 2.2 trillion in operating profit in 2023 To maintain growth momentum, the company to pursue qualitative growth by securing technology leadership, cost competitiveness and future readiness This year's guidance forecasts mid-single digit percent increase in annual revenue, with capital expenditure remaining consistent with the previous year SEOUL, South Korea, Jan. 26, 2024 /PRNewswire/ -- LG Energy Solution (KRX: