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S. Korean banks' mortgage lending soars in June

South Korean banks saw their mortgage lending jump by more than 9 trillion won ($8.01 billion) in June from the previous month, data showed Sunday, due to sharply increased housing transactions.  As of end-June, the nation's seven major banks, including Kookmin, Shinhan, Woori and Hana, ...

Updated : 2015.07.05 09:44

Seoul shares close tad lower ahead of Greek referendum

South Korean stocks closed marginally lower Friday, as investors took a cautious approach ahead of Greece's crucial referendum on a bailout plan on Sunday, analysts said. The local currency rose slightly against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) s...

Updated : 2015.07.03 16:26

S. Korea keep top spot in shipbuilding orders in H1

South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot, while the global shipbuilding industry saw new orders halve, industry data showed Friday.  According t...

Updated : 2015.07.03 15:37

Higher cracking margins, stable oil prices bode well for refiners' Q2 earnings

South Korean refiners are expected to have racked up robust earnings in the second quarter on the back of higher cracking margins and stable oil prices, industry data showed Friday.  The nation's three refiners posted their worst-ever performance last year as a freefall in oil prices hur...

Updated : 2015.07.03 11:27

Govt to spread out Treasurys sales to minimize impact on bond market

The finance ministry said Friday that it plans to spread out the sale of Treasurys needed to cover a large portion of this year's proposed extra budget to prevent instability in the local bond market.The government drew up an 11.8 trillion-won ($10.5 billion) supplementary budget plan to c...

Updated : 2015.07.03 10:29

Seoul outlines 12 tln-won extra budget plan to prop up growth, cope with MERS

South Korea on Friday outlined an 11.8 trillion-won ($10.5 billion) extra budget plan designed to prop up its economy that is being dragged down by weak consumption and fallout from the Middle East Respiratory Syndrome outbreak.The plan that is part of a much larger 22 trillion-won economi...

Updated : 2015.07.03 10:16

Herald, WWF-Korea tie up to promote sustainable lifestyle

Herald Corp. on Thursday launched a partnership with the Korean chapter of World Wide Fund for Nature, the world’s leading conservationist organization, to promote the awareness of environmental prot...

Updated : 2015.07.02 19:19

S. Korea to boost product competiveness in overseas markets: minister

The government will roll out a set of measures aimed at boosting the competitiveness of Korean-made goods in overseas markets to overcome a slowdown in Asia's fourth-largest economy, currently reeling from feeble domestic demand and sluggish exports, the country's top economic policymaker ...

Updated : 2015.07.02 13:20

Online shopping sales jump in May

Online shopping sales in South Korea surged 19 percent in May, fueled by brisk demand for clothing, foodstuffs and cosmetics, a government report showed Thursday. Total transactions reached just under 4.24 trillion won($3.77 billion) in the cited month, compared with 3.56 trillion won a y...

Updated : 2015.07.02 13:16

S. Korea's current account surplus widens in May

South Korea's current account surplus widened in May, extending its surplus streak to a record 39th straight month, data showed Thursday.  The current account surplus reached US$8.65 billion in May, up from a revised $8.14 billion surplus in April, according to the provisional data relea...

Updated : 2015.07.02 09:57

Park vows to strengthen employment insurance

President Park Geun-hye pledged Wednesday to strengthen a state-administered insurance program for workers as part of efforts to stabilize the labor market.  Still, she did not give details on how to boost the role of employment insurance designed to provide unemployment insurance benefit...

Updated : 2015.07.01 15:04

Govt, ruling party agree on 15tln won extra budget amid MERS fallout

The government and the ruling Saenuri Party agreed Wednesday to draw up an extra budget worth around 15 trillion won ($13.4 billion) as Asia's fourth-largest economy, already reeling from slackened domestic demand and falling exports, is feared to further lose recovery momentum amid the ME...

Updated : 2015.07.01 15:02

S. Korea's exports shrink for 6th straight month in June

South Korea's outbound shipments continued to shrink in June, although its trade surplus widened as imports dropped with greater speed, the government said Wednesday.  In June, the country's overall exports came to $46.95 billion, down 1.8 percent from the same month last year, according...

Updated : 2015.07.01 09:29

Hotel Shilla CEO asks China to encourage tours to S. Korea

The CEO of South Korea's Hotel Shilla Co., Lee Boo-jin, has asked Chinese officials to encourage citizens to make trips to South Korea, the company said Tuesday, as the MERS outbreak shows signs of easing in the country.   Lee has been on a visit to Beijing and Shanghai this week during ...

Updated : 2015.06.30 14:12

Tourism sector's slump to last into summer season: poll

The South Korean tourism industry has been hit hardest by the outbreak of Middle East Respiratory Syndrome over the past month, but the slump may continue into the summer season from mass cancellations for hotels and tour packages, a poll showed Tuesday.   The tourism and hotel industrie...

Updated : 2015.06.30 11:02