SEOUL, May 16 (Korea Bizwire) — South Korean stocks finished a tad higher Friday as investors scooped up food and defense shares amid eased tariff woes. The local currency rose to its highest level in six months against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.51 points, or 0.21 percent, [...]
SEOUL, May 15 (Korea Bizwire) — South Korean stocks snapped a three-session winning streak Thursday as investors locked in profits amid eased tariff woes. The local currency rose sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 19.21 points, or 0.73 percent, to close at 2,621.36. The index had risen [...]
SEOUL, May 15 (Korea Bizwire) — The country’s financial watchdog said Thursday that it will prod financial firms to manage their incentive systems in a proper and reasonable manner. The Financial Supervisory Service (FSS) said incentive systems can carry risks if not properly managed, which also can hurt financial institutions’ soundness as well as the [...]
SEOUL, May 15 (Korea Bizwire) — Assisting senior citizens in liquidating their assets is essential to addressing elderly poverty, which, in turn, may help boost local spending, the chief of South Korea’s central bank said Thursday. Bank of Korea (BOK) Gov. Rhee Chang-yong made the point during a symposium co-hosted by the BOK and state-run [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s state-run economic think tank on Wednesday sharply cut its growth forecast for the local economy this year to 0.8 percent, citing rising global trade uncertainties and weakening exports. The revised projection by the Korea Development Institute (KDI) represents a 0.8 percentage-point drop from its previous estimate of [...]
SEOUL, May 12 (Korea Bizwire) — South Korea’s exports dropped 23.8 percent from a year earlier in the first 10 days of this month mainly due to a reduced number of working days, data showed Monday. Outbound shipments reached US$12.83 billion in the May 1-10 period, compared with $16.84 billion tallied a year earlier, according [...]
SEOUL, May 12 (Korea Bizwire) — South Korea’s economy is showing signs of a slowdown, as reflected in a range of economic indicators across various sectors, primarily due to deteriorating export conditions amid growing concerns over a global trade war, a state-run think tank said Monday. “The South Korean economy is facing a slowdown, as [...]
SEOUL, May 9 (Korea Bizwire) — South Korea’s long-term economic potential is facing a steep decline and could enter negative territory by the 2040s if structural challenges go unaddressed, the state-run Korea Development Institute (KDI) warned in a report released Thursday. According to the report, “Projections for Potential Growth and Policy Implications,” South Korea’s potential growth [...]
SEOUL, May 6 (Korea Bizwire) — Volatility in the foreign exchange (FX) market will likely persist for some time amid uncertainties in the global economy and domestic politics, South Korea’s top central banker said Tuesday, while reiterating the need for monetary easing to boost the local economy. “It is still too early to say whether [...]
SEOUL, May 5 (Korea Bizwire) — South Korean investors are turning their attention from traditional tech giants to artificial intelligence (AI) leaders, with U.S.-based software firm Palantir Technologies now surpassing Apple in Korean-held investment value. According to data released by the Korea Securities Depository, as of April 30, domestic investors held $4.26 billion (approximately 6 trillion [...]