South Korea's Shares Fall, Led by Posco, Kookmin, Samsung; Hynix Advances

(Bloomberg) -- South Korean stocks fell, led by
Posco, and Kookmin Bank, on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Samsung Electronics Co. also declined after a power outage
at some production lines of the world's second-largest chipmaker.


Read more at Bloomberg Stocks News

Kookmin Bank's Second-Quarter Profit Plunges to $256 Million on Back Taxes

(Bloomberg) -- Kookmin Bank, South Korea's largest,
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.

Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.


Read more at Bloomberg Emerging Markets News

South Korea's Stocks Fall on U.S. Housing Concern; Hyundai Heavy Declines

(Bloomberg) -- South Korean stocks fell for the
third day. Kookmin Bank led declines on concern a deepening U.S.
housing slump will damp the world's biggest economy and prompt
investors to shun riskier assets.

The Kospi index dropped 17.86, or 1 percent, to 1,865.36 as
of 9:25 a.m. in Seoul. Stocks plunged on July 27 by the most in
more than three years, wiping out $46 billion in market value.


Read more at Bloomberg Stocks News

South Korean Shares Climb for Third Day; Kookmin, Samsung Electronics Gain

(Bloomberg) -- South Korea's stocks rose for a third
day after North Korean leader Kim Jong Il signaled in a news
report that the Communist state is ready to dismantle its nuclear
program. Samsung Electronics Co. and Kookmin Bank gained.

``The direct beneficiary will be the Korean market, as
foreign investors may turn more positive,'' said Jo Dong Hyuk,
who oversees $1.9 billion in global equities at Korea Investment
Trust Management Co. in Seoul. ``The geopolitical risk was the
biggest reason for the `Korea Discount.'''


Read more at Bloomberg Stocks News

M.Stanley, Macquarie in race for S.Korea building

(Reuters) - South Korea's top lender, Kookmin Bank , and local
real estate company Koramco have also handed in bids by Monday's
deadline for the building, near the main rail station in central
Seoul, the source told Reuters.




Daewoo plans to pick the preferred buyer by July and complete
the deal by late August.


Read more at Reuters.com Mergers News