10,000th Syrian reaches US this week in resettlement program

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KEPCO inks deal to buy US solar power plant

The state-run Korea Electric Power Corp. on Sunday said it has signed a deal to buy a US solar power plant, making inroads into the US electricity market.Under the deal with Cogentrix Energy Power Management, part of the Carlyle Group LP, KEPCO will buy a 30 megawatt solar power plant in A...

Updated : 2016.08.28 13:05

Financial sector sheds 1% of jobs this year

The number of employees in South Korea's financial industry has declined nearly 1 percent in the first six months of the year amid a protracted industrywide slump and subsequent restructuring moves, data showed Sunday.As of end-June, the number of employees at 117 major local financial com...

Updated : 2016.08.28 09:50

Korea, Japan agree to resume currency swap deal

South Korea and Japan on Saturday agreed to resume a currency swap deal, which expired last year, as part of their efforts to strengthen bilateral economic cooperation amid a global slowdown and a possible US rate hike."The two countries agreed to start negotiations to reopen the currency ...

Updated : 2016.08.28 09:12

Consumer sentiment reaches 8-month high

South Korea’s overall consumer sentiment reached an eight-month high in August on the back of growing expectations of an economic recovery.The Bank of Korea said Friday that the composite consumer se...

Updated : 2016.08.26 17:21

Korean stocks close lower on U.S. woes

South Korean shares closed lower Friday as investors took to the sidelines amid growing concerns over a U.S. rate hike. The local currency further gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 5.42 points, or 0.27 percent, to 2,037.50. Trading v...

Updated : 2016.08.26 17:07

Fitch warns South Korea of NK, structural risks

Fitch Ratings continued to warn South Korea of geopolitical risks associated with North Korea in the light of the North’s recent submarine missile test, in addition to structural risks on changing de...

Updated : 2016.08.26 16:55

Korean shares down 0.24% in late morning trade

South Korean shares were down 0.24 percent late Friday morning as foreign investors extended their selling streak to a third consecutive session.The benchmark Korea Composite Stock Price Index lost 4.95 points to 2,037.97 as of 11:20 a.m.The index opened sharply lower following overnight l...

Updated : 2016.08.26 13:49

Stock loans close to 8 tln won on bullish outlook

South Korea's stock purchase on credit has hit a fresh high of nearly 8 trillion won ($ 7.2 billion) with more investors borrowing money from brokerage firms to bet on a bullish market, data showed Friday.Outstanding margin loans jumped to 7.78 trillion won as of Wednesday, the highest lev...

Updated : 2016.08.26 10:33

Park visits creative economy festival

President Park Geun-hye on Friday visited a festival, designed to showcase the outcome of her "creative economy" drive, urging the public and business sectors to step up cooperation in creating jobs and fresh momentum for economic growth.The "Creative Economy Innovation Center Festival" at...

Updated : 2016.08.26 10:25

Korean stocks open lower on Wall Street losses

South Korean shares opened sharply lower on Friday, tracking overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index lost 11.57 points, or 0.57 percent, to 2,031.35 in the first 15 minutes of trading.The drop followed overnight losses on Wall Street. The Dow Jones I...

Updated : 2016.08.26 10:16

OTC market turnover soars on growing investor interest

Turnover of South Korea's over-the-counter stock market has been surging this year thanks to growing investor attention amid ultra-low interest rates, a market tracker said Friday.The value of transactions on the K-OTC nearly doubled in six months, soaring to 15.7 billion won ($14.1 millio...

Updated : 2016.08.26 10:15

Consumer sentiment rises to 8-month high in August

The overall sentiment of South Korean consumers hit an eight-month high this month on expectations of economic recovery, central bank data showed Friday.The composite consumer sentiment index for August came to 102, compared with 101 the previous month, according to the data from the Bank ...

Updated : 2016.08.26 10:00

Korean investment in overseas securities rises in Q2

The amount of foreign securities held by major South Korean institutions grew from a year earlier in the second quarter due mainly to a surge in South Korean investment in foreign bonds, central bank data showed Friday.As of the end of June, the value of foreign securities held by South Ko...

Updated : 2016.08.26 09:58

Fierce competition for Gangnam presale homes

Residential towns south of the Han River in Seoul are proving to be a magnet for investment, with planned apartment complexes coming up for presale soon. A complex in Gaepo in the Gangnam area, to be ...

Updated : 2016.08.25 16:11

Korea to restrict housing supply to curb household debt

The South Korean government said Thursday that it will control the number of houses and apartments supplied in the market, and strengthen regulations on mortgages as part of efforts to contain its hou...

Updated : 2016.08.25 16:06