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BUSINESS
January 7, 1998 | From Bloomberg News
South Korean stocks rose for a fifth day Tuesday, led by Korea Electric Power Corp. and oil refineries, as falling interest rates and a stronger currency helped reduce the burden of debts on companies. The benchmark Kospi index of 779 companies rose 9.85 points, or 2.5%, to 406.34, its highest close since Dec. 17. Almost four stocks rose for each that fell, with 73 unchanged. More than 74 million shares changed hands, compared with the six-month daily average of 47 million shares.
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BUSINESS
May 9, 1999 | MARK MAGNIER, TIMES STAFF WRITER
In the darkest days of South Korea's recession more than a year ago, the government appealed to citizens' patriotism to donate their gold jewelry and shore up the nation's vanishing foreign reserves. Today, in a measure of how things have changed, South Koreans are showing their patriotism by pouring their money into the stock market, helping to drive it to a three-year high. South Korea's market surged last week, climbing 5.1% on Thursday alone to close at 810.
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BUSINESS
January 7, 1998 | From Bloomberg News
South Korean stocks rose for a fifth day Tuesday, led by Korea Electric Power Corp., as falling interest rates and a stronger currency helped reduce the burden of debts on troubled companies. The benchmark Kospi share index rose 9.85 points, or 2.5%, to 406.34, its highest since Dec. 17. Almost four stocks rose for each that fell, in heavy trading. Early today the rally continued even as other Asian stock markets plunged. The Kospi index was up 2.7% at midday.
BUSINESS
March 3, 1998 | DAVID HOLLEY, TIMES STAFF WRITER
South Korea is successfully cranking up its export machine and attracting foreign investment, twin steps that could help it dig its way out from under a crushing burden of foreign debt, a raft of new statistics showed Monday. The country was buoyed by a trade ministry announcement that it achieved a record $3.3-billion trade surplus in February as exports--which have been lagging expectations--skyrocketed 21.6% over the same month last year, to hit $11.4 billion. Imports plunged 29.5% to $8.
BUSINESS
January 6, 1997 | Times Staff and Wire Reports
South Korean stocks tumbled to a 45-month low, led by large manufacturers, amid concern a second round of labor strikes will hurt corporate profits. The Korea Confederation of Trade Unions said about 205,000 workers at 164 workplaces including Hyundai Motor Corp. will launch a second round of strikes today as the government shows no sign of repealing new labor laws that make it easier for management to dismiss staff.
BUSINESS
May 1, 1990 | From Associated Press
President Roh Tae Woo called an emergency meeting of his economic ministers Monday after a record plunge in the South Korean stock market and another day of labor unrest. The composite stock index hit an 18-month low after falling 31.71 to close at 688.66, its lowest level since Oct. 13, 1988. The index has lost 24% this year. Protests by investors crippled operations at stock trading offices in Seoul and at least six other cities.
BUSINESS
November 30, 1991 | From Times Staff and Wire Reports
South Korea to Open Bourse to Foreigners: South Korea announced that it would open its $115-billion stock market to direct but limited foreign investment on Jan. 3, becoming the last of the major Asian bourses to embrace liberalization. Several brokers expected South Korean economic planners to put the opening off until the end of January in the hopes of buying more time for the sagging market to climb out of the doldrums.
BUSINESS
October 10, 1994 | From Times Staff and Wire Reports
Foreign Stock Ownership to Be Raised to 12%: The South Korean government said it will expand to 12% on Dec. 1 its current 10% ceiling on foreign stock investment in a single Korean company. The limit will be increased to 15% some time next year, the Ministry of Finance said. At the end of August, foreign investors owned an average 8.6% of total outstanding shares in each Korean company. Officials said the ceiling increase is expected to attract about $1 billion in foreign funds during December.
BUSINESS
April 27, 1990 | From Reuters
South Korea's stock market plunged Thursday in its biggest daily fall in history, sparking violent protests by investors against the government. Trusts joined panicking individuals in selling across the board, sending the composite stock index dropping by 28.96 points to close at 726.11. The previous record decline in a day was 27.53 points on April 12 last year. The market has now fallen about 22% this year on general pessimism over the country's economic future.
BUSINESS
January 7, 1998 | From Bloomberg News
South Korean stocks rose for a fifth day Tuesday, led by Korea Electric Power Corp. and oil refineries, as falling interest rates and a stronger currency helped reduce the burden of debts on companies. The benchmark Kospi index of 779 companies rose 9.85 points, or 2.5%, to 406.34, its highest close since Dec. 17. Almost four stocks rose for each that fell, with 73 unchanged. More than 74 million shares changed hands, compared with the six-month daily average of 47 million shares.
BUSINESS
January 7, 1998 | From Bloomberg News
South Korean stocks rose for a fifth day Tuesday, led by Korea Electric Power Corp., as falling interest rates and a stronger currency helped reduce the burden of debts on troubled companies. The benchmark Kospi share index rose 9.85 points, or 2.5%, to 406.34, its highest since Dec. 17. Almost four stocks rose for each that fell, in heavy trading. Early today the rally continued even as other Asian stock markets plunged. The Kospi index was up 2.7% at midday.
BUSINESS
January 6, 1997 | Times Staff and Wire Reports
South Korean stocks tumbled to a 45-month low, led by large manufacturers, amid concern a second round of labor strikes will hurt corporate profits. The Korea Confederation of Trade Unions said about 205,000 workers at 164 workplaces including Hyundai Motor Corp. will launch a second round of strikes today as the government shows no sign of repealing new labor laws that make it easier for management to dismiss staff.
BUSINESS
October 10, 1994 | From Times Staff and Wire Reports
Foreign Stock Ownership to Be Raised to 12%: The South Korean government said it will expand to 12% on Dec. 1 its current 10% ceiling on foreign stock investment in a single Korean company. The limit will be increased to 15% some time next year, the Ministry of Finance said. At the end of August, foreign investors owned an average 8.6% of total outstanding shares in each Korean company. Officials said the ceiling increase is expected to attract about $1 billion in foreign funds during December.
BUSINESS
November 30, 1991 | From Times Staff and Wire Reports
South Korea to Open Bourse to Foreigners: South Korea announced that it would open its $115-billion stock market to direct but limited foreign investment on Jan. 3, becoming the last of the major Asian bourses to embrace liberalization. Several brokers expected South Korean economic planners to put the opening off until the end of January in the hopes of buying more time for the sagging market to climb out of the doldrums.
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