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[Photo News] KB Financial tops value-up push
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Korea Herald
06-08-2025
- Korea Herald
[Graphic News] Middle Eastern tourists spend most in Korea
A recent tourism report reveals that among foreign visitors to Korea last year, tourists from the Middle East spent the most, while Japanese tourists spent the least. According to KB Financial Group's Management Research Institute, foreign tourist spending accounted for 10.5 percent of domestic consumption last year, slightly down from 14.8 percent the previous year but still well above the pre-pandemic level of 3.4 percent. The average per capita spending by foreign tourists was $1,372 (1.9 million won). The most popular purchases for shoppers included perfumes and cosmetics, groceries, clothing, shoes, jewelry and accessories, bags, ginseng and herbal medicine, and Korean Wave products. Spending varied significantly by country. Tourists from the Middle East topped the list with an average expenditure of $2,114, well above the global average. They were followed by tourists from India, France, the UK, Germany and the US. Japanese tourists spent the least at $807, likely due to shorter stays given their geographic proximity.
Korea Herald
06-08-2025
- Korea Herald
KRX eyes 12-hour trading to counter Nextrade's rapid rise
Industry wary of operational strains, system risks tied to extended trading South Korea's main bourse operator, the Korea Exchange, is pushing to implement a 12-hour trading system in a bid to secure its market share against the emerging alternative trading platform Nextrade. The KRX is considering extending stock trading hours -- currently 9 a.m. to 3:30 p.m. -- to 8 a.m. to 8 p.m., according to industry sources. Though the bourse operator is yet to announce an official stance, it is currently gathering feedback from brokerages and other market participants on the proposed change. In late June, it sent out a survey to brokerage firms on the proposal. The original deadline for responses was set for July 31, but the KRX decided to extend the period to this week after many firms failed to submit their answers in time. The survey asks member firms to choose among proposed options for how the extended 12-hour trading session should be structured. Currently, the market operates with a pre-opening session from 8:30 a.m. to 9 a.m., regular trading from 9 a.m. to 3:30 p.m., followed by an after-closing session from 4 p.m. to 6 p.m. During the pre-market and after-hours sessions, only single-price trading is available. According to the proposals, the KRX is considering moving the regular market opening one hour earlier, or operating a pre-market session from 8:00 a.m. to 8:30 a.m. After main market hours, an after-market session is likely to run from 3:40 p.m. until 8 p.m. If the KRX extends its trading hours, it would mark the first change since 2016, when the closing time was moved from 3 p.m. to 3:30 p.m. The bourse operator's push for longer trading hours comes on the back of the successful operation of Nextrade, the country's first alternative stock exchange, earlier this year. Launched in March, the alternative trading platform has quickly gained ground, capturing a market share of over 30 percent, backed by longer trading hours and lower commissions. The Nextrade operates from 8 a.m. to 8 p.m. but trades only a limited number of shares. In July alone, the platform's average market share stood at 31.66 percent, a near tenfold increase from 3.8 percent in March. With only Nextrade and the KRX operating in the market, Nextrade's growth comes at the expense of the KRX's market share, leading to reduced transaction commissions and directly undermining its profitability. Though the overall market trading volume, combining the benchmark Kospi and secondary Kosdaq, increased from roughly 3,075 trillion won in January–July last year to 3,180 trillion won this year, the KRX's trading volume fell from 3,000 trillion won to 2,500 trillion won on-year. The industry response remains lukewarm, with concerns mounting over the operational strains the extension could impose. 'Most brokerages are likely to face significant burdens from system modifications and increased labor expenses to support and monitor the extended trading hours,' an official from a local brokerage firm said. 'Without sufficient preparation, system errors could occur as they did when Nextrade was first launched.'
Korea Herald
03-08-2025
- Korea Herald
Foreign money returns to Kospi, piling into Samsung
Analysts forecast Kospi's rally to take pause in August amid market correction Foreign investors net purchased shares of over 6 trillion won ($4.3 billion) on the benchmark Kospi in July, driven largely by a massive 3.5 trillion won buying spree on the country's leading chipmaker, Samsung Electronics. Offshore investors bought a net 6.28 trillion won worth of local stocks on the main bourse Kospi in July, according to the data from the bourse operator Korea Exchange. It was the largest amount since the 7.86 trillion won net buying in February 2024. Since turning to a net buying stance in May, foreign investors have been scooping up shares on the Kospi for three consecutive months. Samsung Electronics was the top pick, drawing 3.5 trillion won in net foreign purchases, accounting for 56 percent of the monthly total. Giving further buying momentum was news that the company would manufacture AI chips for Tesla under a multiyear $16.5 billion deal, stoking hopes of a rebound in its loss-making foundry business. Hanwha Ocean followed, buoyed by expectations surrounding the Korea-US trade deal, with offshore investors net purchasing shares worth 858 billion won. The shipbuilder under the defense-to-energy conglomerate Hanwha Group is expected to anchor the Korea-US shipbuilding initiative 'Make American Shipbuilding Great Again.' Shares of SK Square (457 billion won), Isu Petasys (329 billion won) and Hanwha Aerospace (249 billion won) trailed behind as the next most purchased stocks. Marking a contrast with the buying rally for Samsung Electronics, offshore investors offloaded 193.1 billion won worth of SK hynix shares last month, following a bearish forecast from global banking giant Goldman Sachs. Naver was the most sold stock by foreigners during the period, as they dumped 668.2 billion won worth of shares last month. Major net sold stocks included Doosan Enerbility (243.8 billion won), Samsung SDI (206.8 billion won), Kakao Pay (184.5 billion won) and KB Financial Group (159.8 billion won). Meanwhile, the Kospi sank to 3,119.41 on Friday, down 3.88 percent from the previous session, marking its sharpest single-day drop in two months. The stock market was dampened by the government's tax code revision plan and the uncertainty associated with the US tariff talks. On the day, foreign investors offloaded shares worth 656 billion won on the Kospi. 'Investor sentiment weakened as expectations for US rate cuts receded. Foreign investors posted net selling of around 1 trillion won in both the spot and futures markets amid a stronger dollar,' analyst Park Ki-hoon from Korea Investment & Securities explained. 'The market experienced a sharp correction as a series of expectations quickly unraveled amid heightened macro uncertainty both at home and abroad,' said Lee Kyung-min of Daishin Securities. Despite the Kospi's bullish run in recent months, analysts anticipate a period of elevated volatility in August as the index steps into a phase of valuation correction. 'The conclusion of the Korea-US tariff negotiations, diminished expectations for US rate cuts, and lowered hopes for tax reform are factors weighing on the stock market," said Na Jeong-hwan, an analyst at NH Investment & Securities, projecting the Kospi to trade between 3,000 and 3,300 points this week. 'With a lack of earnings momentum in the domestic market, a short-term correction appears necessary. Volatility is expected to increase in August,' said Kyobo Securities analyst Kim Joon-woo, suggesting the Kospi could inch down to as low as 2,900 points this month.
