🇰🇷 South Korea · Finance & markets, Energy
69 storiesNew York comptroller projects Wall Street profits above $90bn, record bonuses
New York State Comptroller Thomas DiNapoli estimated the state's securities industry will earn more than $90 billion (about 120 trillion won) this year, up from $65.1 billion last year, and that Wall Street bonuses will rise again to a reco…
New York stocks close higher; S&P 500 and Nasdaq hit record highs
New York's main stock indices closed higher, with Kukmin Ilbo reporting SpaceX up 7.62% and Asia Economy noting the rise came even as the 10-year US Treasury yield renewed a high. In the following US session, Chosun Ilbo reported the S&P 50…
Korean court suspends market-cap delisting decisions; exchange halts two more exits
Seoul Southern District Court Civil Division 51 granted injunctions on Oct 2 suspending the Korea Exchange's delisting decisions against KOSPI-listed Joo Yeon Tech and KOSDAQ-listed KM Pharma until a main ruling. The court questioned the 45…
Nvidia sets second straight record close; Korean AI supply chain shares rally
Nvidia closed 2.1% higher at $238.90 on October 5 in New York, a second consecutive record close, lifting its market capitalisation to about $5.76 trillion and putting the first $6 trillion valuation within reach. Korean outlets also report…
Nasdaq closes at record high as AI stocks rally despite rising Treasury yields
US stocks rose on October 5 local time, with the Nasdaq Composite closing at a record high as technology and AI-related shares gained despite rising Treasury yields. Yonhap reported the Dow rose 0.18% to 51,267.90 and the S&P 500 gained 0.6…
Musk regains trillionaire status as SpaceX shares jump 7.63%
SpaceX shares closed 7.63% higher at $171.09 on Oct. 5, their highest level in about three months, after Morgan Stanley set a $300 target price. Forbes put Elon Musk's net worth at $1.046 trillion (about 1,400 trillion won), returning him t…
Oil falls as Middle East crude exports recover and G7 releases reserves
Brent crude for December delivery fell 1.89% to $100.32 a barrel and US West Texas Intermediate for November fell 1.84% to $89.43 on October 5, Yonhap reported, as Middle East crude exports increased and G7 countries moved to release emerge…
Aramco CEO says oil system strained, inventory rebuild may take up to two years
Aramco chief executive Amin Nasser said the world oil supply system is already under pressure and that rebuilding depleted inventories could take up to two years, speaking in London on October 5. Nasser estimated that about 3 billion barrel…
President Lee Calls Farmland Solar an Opportunity, Urges Permit Support
President Lee Jae-myung told a cabinet meeting on Oct 6 that South Korea must move toward an “electricity state” with renewable energy, and solar in particular, at its core, and said converting farmland for solar projects could earn several…
Second National Growth Fund round sells 316.2 bln won in four days, 52.7% of target
The second round of South Korea's state-backed National Participation National Growth Fund sold 316.2 billion won in its first four days, 52.7% of its 600 billion won target, the Financial Services Commission said. The remaining 283.43 bill…
Rival parties clash at Seoul audit over single-stock leveraged ETF losses
Ruling and opposition lawmakers clashed at the National Assembly's Strategy and Finance Committee audit of the finance ministry on October 6 over single-stock leveraged ETFs and related documents. The opposition demanded presidential office…
New York stocks open mixed as 10-year Treasury yield holds near 5.3%
New York's main stock indices opened mixed on October 5, with the Dow Jones Industrial Average down about 0.27% as the 10-year US Treasury yield held around 5.3%, a level Asia Economy described as the highest in several years. The S&P 500 a…
Youth Future Savings Account second round opens Oct 7 with up to 19.4% effective rate
The second round of applications for South Korea's Youth Future Savings Account runs from Oct 7 to Oct 16, with the first two days split by odd and even birth years, the Financial Services Commission and the Korea Inclusive Finance Agency s…
Korea's financial investment association joins IIFA board talks in Toronto, plans Japan MOU
The Korea Financial Investment Association said it is attending the 39th annual meeting of the International Investment Funds Association (IIFA) in Toronto from October 5 as a board member, discussing international regulatory cooperation an…
Kospi slips below 7,000 after holiday open; Kosdaq gains about 2%
South Korea's Kospi opened at 7,044.67 on Oct. 6, up 40.93 points (0.58%), the first session after the Gaecheonjeol holiday, and the Kosdaq opened at 902.16, up 8.87 points (0.99%). The Kospi gave back the gain within minutes and was at 6,9…
Minister: Honam chip complex's 6.3GW power, 650,000t water can be supplied locally
Climate, Energy and Environment Minister Kim Sung-hwan told a National Assembly audit that the Honam semiconductor industrial complex's expected 6.3GW of electricity and 650,000 tonnes of water a day can be supplied from within the region. …
KOSDAQ closes at 919.92, up 2.98%, led by Jusung Engineering and biotech
The KOSDAQ closed at 919.92 on October 6, up 26.63 points, or 2.98%, after opening at 902.16, according to Yonhap, Asia Economy, Maeil Business and Chosun Ilbo. Jusung Engineering gained roughly 15% to 17% during the session; Asia Economy a…
Korea Western Power starts AI system to manage coal imports and inventory
Korea Western Power said it has begun operating an AI-based integrated control system covering bituminous coal vessel transport, offshore waiting, unloading and coal-yard inventory. Maeil Business reported the system went into full operatio…
Korea's crypto economy put at $449.1bn, largest in East Asia, Chainalysis says
Chainalysis estimates South Korea's crypto economy at $449.1 billion (about 604 trillion won) for the year to June, up 12.3% from a year earlier and the largest in East Asia, ahead of Japan's $228.3 billion. Activity on domestic exchanges r…
Gulf producers keep Hormuz ‘shuttle’ crude exports; volumes said to top pre-war levels
Gulf oil producers including Saudi Arabia are still exporting crude through the Strait of Hormuz via high-risk “shuttle” runs, loading very large crude carriers inside the strait and transferring the oil to ships waiting outside, according …