Foreign Exchange Reserves Increase for Second Consecutive Month to $427.95 Billion
South Korea's foreign exchange reserves increased for the second consecutive month in July, driven by the issuance of new foreign exchange bonds.According to the Bank of Korea on August 5, the country's foreign exchange reserves stood at $427.95 billion at the end of July, up $5.9 billion from the previous month’s total of $427.36 billion. This marks the second consecutive month of growth.A Bank of Korea official stated, "Despite foreign exchange swaps with the National Pension Service, the rese
Kiwoom Securities Lowers Kangwon Land Target Price Amid Renovation Impact
Kiwoom Securities announced on August 5 that it has maintained a "buy" rating on Kangwon Land but lowered its target price from 22,000 won to 18,000 won, citing the significant impact of room renovations on operating performance.Kangwon Land reported a consolidated revenue of 345.6 billion won for the second quarter, a 4.2% decrease compared to the same period last year, while operating profit fell by 26.2% to 43.2 billion won. Although revenue met market expectations, operating profit fell shor
IBK Securities: Kona I's Local Currency Business Supports Performance, Buy Recommendation Issued
IBK Securities reported that Kona I's local currency business is supporting stable performance, while the expansion of the metal card market is expected to become a new growth driver. The firm has issued a 'buy' recommendation and set a target price of 64,000 won.Yu Chang-geun, a researcher at IBK Securities, stated, "Metal cards are not just simple substitutes for plastic cards; they are becoming a marketing tool for card companies and fintech firms. As competition intensifies among card compan
KOSDAQ Sees Positive Momentum Amid Single-Stock Leverage ETF Regulations
◆아주경제 주요뉴스▷단일종목 레버리지 규제 '풍선효과'? 모처럼 훈풍 불어오는 코스닥- As trading volume and value plummet, short-term funds that had been concentrated in large semiconductor stocks are showing signs of diversifying into KOSDAQ.- On August 4, the Korea Exchange reported that the trading volume of 16 single-stock leverage and inverse ETFs based on Samsung Electronics and SK Hynix totaled 138.99 million shares, a 6.3% decrease from the previous trading day (148.30 million shares on Aug
Coupang Challenges Tax Agency's $300 Million Assessment
쿠팡의 모회사 쿠팡Inc가 국세청으로부터 약 3000억원 규모의 과세 예고 통지를 받고 불복 절차에 나선다. Coupang Inc. announced on August 5 that it is contesting a tax assessment of approximately 300 billion won (about $280 million) from the National Tax Service (NTS). The company disclosed in its second-quarter earnings report submitted to the U.S. Securities and Exchange Commission (SEC) that the NTS completed a tax audit of its South Korean subsidiaries in June and communicated the findings. The
U.S. Stocks Surge to Record Highs Amid Progress in Hormuz Negotiations
U.S. stocks closed sharply higher as news of progress in negotiations between the U.S. and Iran regarding the Strait of Hormuz led to a significant drop in international oil prices.On August 4, the Dow Jones Industrial Average rose by 907.47 points, or 1.71%, to close at 54,085.88. The S&P 500 gained 136.02 points, or 1.79%, finishing at 7,736.52. The tech-heavy Nasdaq Composite also saw a rise of 671.10 points, or 2.59%, ending at 26,584.99.Both the Dow and S&P 500 set new closing recor
Fan Collapses During SSG-LG Game Amid Heatwave, Suspected Heat Illness
During a professional baseball game held in extreme heat, a spectator collapsed.On August 4, according to Yonhap News and the SSG Landers organization, a 25-year-old male fan sitting in the SSG stands at Incheon SSG Landers Field lost consciousness and fell down the stairs after feeling dizzy during the bottom of the eighth inning while SSG was at bat.Emergency responders were alerted by nearby spectators and quickly arrived to provide assistance.The SSG organization stated, "The paramedics susp
Coupang Faces $560 Million Loss Amid Data Breach Fine
Coupang Inc. reported an operating loss of 835 billion won ($560 million) in the second quarter of this year, largely due to the impact of a fine related to a data breach.According to a quarterly report submitted to the U.S. Securities and Exchange Commission (SEC) on August 5, the operating loss for the second quarter was 835 billion won, a stark contrast to the operating profit of $149 million reported during the same period last year. This follows a first-quarter operating loss of $242 millio
U.S. Hints at Agreement on Hormuz Strait with Iran and Oman
The Trump administration indicated on August 4 that an agreement regarding the opening of the Hormuz Strait with Iran could be reached soon.According to Yonhap News, Secretary of State Marco Rubio, who also serves as the National Security Advisor, told reporters, "While we are engaged in long-term negotiations regarding denuclearization, we are involved in discussions and negotiations between Oman and Iran to find ways for more ships to safely transit the Hormuz Strait in the short term."He adde
Coupang Reports $556 Million Operating Loss in Q2, First Half Loss Exceeds $1 Billion
Coupang Inc. reported an operating loss of 835 billion won ($556 million) for the second quarter of this year, marking a shift to a deficit compared to the same period last year, the company announced on August 5. This follows a return to losses in the first quarter after a data breach incident last year, resulting in consecutive operating losses for the second quarter. The operating loss for Q2 surpassed the annual operating profit of 679 billion won recorded last year, making it the largest