Seoul stocks set fresh high for 3rd day ahead of FOMC results

SEOUL, June 16 (Yonhap) — South Korean stocks set a fresh high for three consecutive sessions on Wednesday as investors scooped up blue-chip shares ahead of the release of the Federal Reserve’s meeting results. The benchmark Korea Composite Stock Price Index (KOSPI) gained 20.5 points, […]

Large companies prefer year-round hiring of experienced workers

SEOUL, June 16 (Yonhap) — South Korean conglomerates appear to be gradually changing their recruitment methods in favor of experienced workers and year-round recruitment of new employees. A public organization said Wednesday that major domestic companies are planning to fill about 40 percent of their […]

Streaming platform Tving’s MAU hit record high of 3.34 mln in May

SEOUL, June 16 (Yonhap) — Tving, a video streaming subsidiary of South Korean entertainment giant CJ ENM, said Wednesday that the number of its monthly active users (MAU) hit a fresh record high last month. Citing the latest data from market researcher Nielsen Koreanclick, Tving […]

Shinsegae-led consortium picked as preferred bidder for eBay Korea: sources

SEOUL, June 16 (Yonhap) — A South Korean conglomerate Shinsegae-led consortium has been picked as the preferred bidder for eBay Korea, the South Korean unit of e-commerce giant eBay, beating its local rival Lotte Shopping and heralding a seismic change in the country’s e-commerce sector, […]

Krafton seeks to raise as much as 5.6 tln won via IPO

SEOUL, June 16 (Yonhap) — Krafton Inc., the gaming giant behind the global smash hit “PlayerUnknown’s Battlegrounds” (PUBG), said Wednesday it plans to raise as much as 5.6 trillion won (US$5 billion) through an initial public offering (IPO) that will likely place it as South […]

S. Korea’s exports to stay brisk in H2: central bank

SEOUL, June 16 (Yonhap) — South Korea’s exports are expected to remain resilient in the second half of the year on a series of positive external factors, the central bank said Wednesday. The upbeat forecast by the Bank of Korea (BOK) comes amid a recent […]

KT tests 5G-based autonomous cruise ship

SEOUL, June 16 (Yonhap) — KT Corp., a South Korean telecom giant, said Wednesday it has tested an autonomous cruise ship being remotely controlled hundreds of kilometers away on its high-speed 5G network. The telecom operator said a 12-person cruise ship navigated through the narrow […]

Banks’ loan delinquency rate rebounds in April

SEOUL, June 16 (Yonhap) — The delinquency rate for South Korean banks’ won-denominated loans rebounded in April from a record low the previous month as lenders cleared smaller amounts of bad debts, the financial watchdog said Wednesday. The rate for bank loans more than 30 […]

Residents’ FX deposits fall in May

SEOUL, June 16 (Yonhap) — Foreign currency deposits at banks in South Korea declined in May from a record high in the previous month as some companies withdrew their FX holdings, central bank data showed Wednesday. Outstanding foreign currency-denominated deposits held by residents amounted to […]

Netflix promotes Korean executives to strengthen its Asian strategy

SEOUL, June 16 (Yonhap) — U.S. media giant Netflix has promoted two Korean content experts to its senior creative leadership team as part of a strategy to strengthen its foothold in South Korea and the rest of the populous Asian region. According to Netflix, in […]

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