SEOUL, June 13 (Korea Bizwire) – South Korean stocks snapped their seven-day winning streak Friday as rising tensions in the Middle East heightened investors’ risk-off sentiment. The local currency was trading sharply lower against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 25.41 points, or 0.87 percent, to close at 2,894.62. [...]
SEOUL, June 13 (Korea Bizwire) — South Korea’s economic recovery remains elusive, hampered by fragile domestic demand and worsening export conditions, as the government warns of persistent downward pressures that have now stretched into a sixth consecutive month. In its latest monthly economic report, known as the Green Book, the Ministry of Economy and Finance painted [...]
SEOUL, June 13 (Korea Bizwire) — Foreign investment in South Korean securities recorded the largest net inflow in nearly two years in May, supported by easing domestic political uncertainties and reduced concerns over the United States’ trade policy, the central bank said Friday. Offshore investors purchased a net US$9.29 billion worth of local stocks and [...]
SEOUL, June 13 (Korea Bizwire) — South Korea’s stock market has soared for six consecutive trading days following the inauguration of President Lee Jae-myung, but retail investors who bet against the rally are now grappling with mounting losses. The benchmark KOSPI index closed above the 2,920 mark on Thursday, up 8.19% since June 4—Lee’s first [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s top central banker on Wednesday emphasized the urgent need for economic stimulus to support recovery but warned of “serious side effects” if the government relies too heavily on such measures. Bank of Korea (BOK) Gov. Rhee Chang-yong made the remarks during a speech at a ceremony marking [...]
SEOUL, June 12 (Korea Bizwire) — The proportion of South Korean companies unable to cover their interest expenses with operating profits reached an all-time high in 2024, underscoring persistent financial stress among smaller firms despite improved overall corporate earnings. According to the Bank of Korea’s annual corporate management analysis released Wednesday, 40.9% of non-financial, for-profit companies [...]
SEOUL, June 11 (Korea Bizwire) — President Lee Jae-myung on Wednesday unveiled a sweeping vision to revitalize South Korea’s capital markets by promoting dividend-friendly policies, cracking down on unfair trading practices, and positioning equities as a viable alternative to real estate for household investment. Speaking at a roundtable held at the Korea Exchange’s Market Surveillance Committee [...]
SEOUL, June 11 (Korea Bizwire) – Household loans extended by South Korean banks rose sharply in May, central bank data showed Wednesday, driven by an increase in housing transactions. Banks’ outstanding household loans stood at 1,155.3 trillion won (US$845.07 billion) as of end-May, up 5.2 trillion won from a month earlier, according to the data [...]
SEOUL, June 11 (Korea Bizwire) — South Korea’s exports went up 5.4 percent from a year earlier in the first 10 days of this month driven by robust demand for semiconductors and automobiles, data showed Wednesday. Outbound shipments reached US$15.47 billion in the June 1-10 period, compared with $14.68 billion tallied a year earlier, according [...]
Seoul, June 10 (Korea Bizwire) — Foreign investors have poured nearly 4 trillion won into South Korea’s stock markets so far this month, igniting fresh optimism that the benchmark KOSPI index could break through the symbolic 3,000-point barrier in the coming weeks. According to financial data provider Yonhap Infomax, foreign investors have recorded net purchases of [...]