Top 5 chaebol account for over half of Korea's market cap

Companies under South Korea’s five largest conglomerates -- Samsung, SK, Hyundai Motor, LG and HD Hyundai -- account for more than half of the country's stock market value after a blistering semiconductor rally that sent the benchmark Kospi index past 4,000 for the first time, industry data showed Tuesday. The combined market capitalization of the main Kospi and the secondary Kosdaq and Konex exchanges jumped 71.5 percent to 3,963.1 trillion won ($2.71 trillion) as of Nov. 3, up from 2,310 trill

Nov. 11, 2025

Musinsa names Mike Ikeda to lead Japanese unit

Musinsa, South Korea’s largest online fashion platform, announced Tuesday it has hired fashion expert Mike Ikeda as the new head of its Japanese arm, Musinsa Japan, to strengthen its presence in the Japanese fashion market. Ikeda is a veteran of the Japanese fashion industry with over 25 years of experience. He began his career at Nike Japan in 1999 and has led several global fashion brands, including Oakley Japan, Bose Japan and Cath Kidston Japan. He most recently served as the head of Dr. Mar

Nov. 11, 2025

Samsung Foundation receives top prize at Mecenat Awards

Samsung Foundation of Culture has been awarded the Grand Prize at the 2025 Mecenat Awards, hosted by the Korea Mecenat Association, marking the foundation’s second win in the awards' 26-year history. The Samsung Foundation of Culture, founded in 1965, was recognized for its contribution to broadening Korea’s cultural landscape and enhancing the global presence of Korean arts. In addition to operating the Leeum Museum of Art and the Hoam Museum of Art, the foundation has been supporting Korean ar

Nov. 11, 2025

Biotech industry output rises 9.8% in 2024 despite global uncertainty

South Korea's biotechnology industry output grew nearly 10 percent in 2024 from a year earlier despite persistent global trade uncertainties, industry data showed Tuesday. The country's biotechnology industry production came to 22.92 trillion won ($15.7 billion) last year, up from 20.87 trillion won in 2023, the Ministry of Trade, Industry and Energy said, citing a survey by the Korea Biotechnology Industry Organization. The figure marked a recovery following a 12 percent on-year decline in 2023

Nov. 11, 2025

Exports up 6.4% during first 10 days of Nov. on robust chip, auto demand

South Korea's exports went up 6.4 percent from a year earlier in the first 10 days of this month, data showed Tuesday. Outbound shipments reached $15.8 billion in the Nov. 1-10 period, compared with $14.9 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports increased 8.2 percent on-year to $17 billion during the period, resulting in a trade deficit of $1.2 billion. The agency attributed the increase in outbound shipments to strong global demand for semico

Nov. 11, 2025

Stock value of 5 conglomerates accounts for over half of total market cap amid KOSPI rally

The combined stock value of affiliates under South Korea's five largest conglomerates accounted for more than 50 percent of the country's total market capitalization amid a recent market rally, industry data showed Tuesday. The total market capitalization of the country's three stock exchanges, including the main Korea Composite Stock Price Index and the secondary Korea Securities Dealers Automated Quotations, stood at 3,963.1 trillion won ($2.7 trillion) as of Nov. 3, sharply up from 2,310.9 tr

Nov. 11, 2025

Seoul shares open higher amid hopes for end to US govt. shutdown

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street, amid hopes for an end to the US government shutdown. The benchmark Korea Composite Stock Price Index rose 89.06 points, or 2.19 percent, to 4,162.30 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average gained 0.81 percent, while the tech-heavy Nasdaq Composite advanced 2.27 percent. The US Senate advanced a plan to end the record-long government shutdown, and President Donald Trump expressed s

Nov. 11, 2025

S. Korea to hold inaugural pan-government simulation exercise for supply chain crisis

South Korea is set to hold its first-ever pan-government tabletop exercise to prepare for a possible supply chain crisis, bringing together related government ministries and private companies, officials said Tuesday. The public-private tabletop exercise will run for three days through Thursday, simulating disruptions in the supply of key materials for Korean industries caused by a natural disaster, according to the officials from the finance, industry and other related ministries. The government

Nov. 11, 2025

S. Korean, Hungarian central banks sign MOU to boost cooperation

South Korea's central bank said Monday it has signed an agreement with the Hungarian central bank to promote bilateral exchanges and cooperation. Under the signed Memorandum of Understanding (MOU), the Bank of Korea (BOK) and the Magyar Nemzeti Bank (MNB) agreed to further strengthen their cooperative relationship by sharing information and expertise and conducting joint research and workshops across various policy areas, according to the BOK. "Stronger cooperation with Hungary, a strategically

Nov. 10, 2025

WeMakePrice goes bankrupt after failed turnaround

A South Korean court on Monday declared the bankruptcy of WeMakePrice, marking the end of a failed rehabilitation effort to revive the troubled e-commerce business. The Seoul Bankruptcy Court ruled WeMakePrice bankrupt, roughly a year and half after the platform filed for court receivership on July 29, 2024, along with its e-commerce affiliate Tmon. In 2024, WeMakePrice and Tmon struggled with delayed payments due to a liquidity crisis associated with its parent company, Qoo10 Group. Though WeMa

Nov. 10, 2025

Seoul shares up more than 3% on hopes for dividend tax reform, end of US shutdown

Seoul shares shot up more than 3 percent Monday as investor sentiment was boosted by the government's proposed dividend tax reform, along with signs of an end to the longest government shutdown in the United States' history. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 119.48 points, or 3.02 percent, to close at 4,073.24. Trade volume was moderate at 334 million shares worth 16.5 trillion won ($11.3 billion), with gainers far outpacing lose

Nov. 10, 2025

Kospi reclaims 4,000 level as policy optimism lifts stocks

Seoul’s benchmark Kospi climbed back above the 4,000 mark on Monday, buoyed by renewed optimism over investor-friendly policy measures and signs of a deal to end the US government shutdown. As of 2:30 p.m., the Kospi traded around 4,085, up 3.3 percent from Friday’s close. The index extended gains after opening 0.96 percent higher at 3,991.87, holding above the 4,000 threshold for most of the session. Institutions led the rally with net purchases of about 1.2 trillion won ($826.7 million) as of

Nov. 10, 2025

[Photo News] Hana shares warmth through kimchi

SHARING WARMTH WITH KIMCHI — Hana Financial Group executives, employees and their families join a "gimjang," or kimchi-making, event at the group's headquarters in Seoul on Monday as part of the 2025 Modu Hana Day campaign. Some 250 people, including representatives of Hana's partner firms, participated in the annual event to donate kimchi to Youngnak Borinwon, a child care facility in central Seoul. Hana Financial Chair Ham Young-joo (center) said the firm will "share warmth with those experien

Nov. 10, 2025

Ex-Kakao CIO sues Mirae Asset over account hack loss

Kakao’s former Chief Investment Officer Bae Jae-hyun has filed a lawsuit against Mirae Asset Securities, seeking compensation for a hack of his account that allegedly resulted in losses of 11 billion won ($7.5 million). According to industry sources, Bae filed a lawsuit last month against Mirae Asset Securities, demanding that the brokerage house compensate him for the assets siphoned from his Mirae Asset account. Shortly after Bae was taken into custody in October 2023 on charges of stock price

Nov. 10, 2025

Will Hyundai feel the pinch as Chinese EV makers flood Europe?

As China grapples with a glut of electric vehicles coupled with an intensifying price war at home, more low-cost Chinese EVs are now flowing into Europe — the world's second-largest EV market, increasing competitive pressure on Hyundai Motor Group. A report released Monday by the Korea Automotive Technology Institute shows the scale of China’s oversupply problem. China’s auto production capacity reached 55.07 million vehicles in 2024, more than twice its domestic sales of 26.9 million. Major aut

Nov. 10, 2025