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Search results for Sept. 10

Finance

SOOP to cancel 18.9 billion won of treasury shares, 2.7 percent of shares outstanding

SOOP will cancel treasury shares equivalent to about 2.7 percent of its total shares outstanding. The company said its board on Sept. 4 decided to cancel 306,375 common shares it holds. The planned cancellation amount is about 18.9 billion won based on book value, with the cancellation scheduled for Sept. 10. SOOP said the move will not reduce its capital stock and is part of previously flagged plans to use its treasury shares.

Telecommunications & Media

LG Uplus boosts \'Uplus Two Plus\' Chuseok benefits, invites long-term customers to Hwadam Forest

LG Uplus is expanding shopping, outings and dining benefits under its \'Uplus Two Plus\' membership programme for Chuseok, it said on Sept. 7. The September package includes 53 partner offers and adds three new partners. Discounts and coupons will be available for grocery shopping and family leisure during the holiday period. The company will also invite 5,000 long-term customers to Hwadam Forest in Gwangju, Gyeonggi province, on Oct. 19.

Finance

KOSPI fails to break 7,000, returns to range trading; focus on U.S. rates and inflation

South Korean stocks are expected to take cues this week from U.S. inflation data ahead of the September FOMC meeting. Strong semiconductor earnings and surging exports are supporting the downside, but elevated U.S. long-term yields and Middle East tensions are limiting upside momentum. Markets are watching U.S. producer prices on Sept. 10 and consumer prices on Sept. 11 after stronger-than-expected U.S. jobs data lifted yield and rate-hike expectations.