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Seoul shares hit yearly high on bold stimulus package

South Korean stocks on Friday reached a new high for 2014, bolstered by expectations that government stimulus measures may boost the local economy, analysts said.Starting the day in positive territory, the benchmark Korea Composite Stock Price Index rose to 2,036.20 at one point during the...

Updated : 2014.07.25 21:38

KB Financial net doubles in Q2

South Korean financial group KB Financial Group said Friday its second-quarter earnings more than doubled from a year ago after last year’s one-off profit-loss factor was removed.The financial group’s net profit in the April-June period came in at 398.4 billion won ($388.2 million), soar...

Updated : 2014.07.25 21:37

Seoul to push tax on corporate cash reserves

The South Korean government announced a set of economic stimulus measures on Thursday, including a controversial plan to levy taxes on cash reserves kept at the nation’s largest companies. The financ...

Updated : 2014.07.24 21:32

BOK to issue coins honoring pope's visit

South Korea's central bank said Thursday it will release a set of commemorative coins to celebrate Pope Francis' upcoming visit to the country next month.The pope is scheduled to visit South Korea on Aug. 14-18, during which he will conduct four Masses, including one for the beatification ...

Updated : 2014.07.24 13:49

Govt's major economic measures unveiled in economy management plan

The following are key measures from the government's economy management plan to be carried out by newly inaugurated Finance Minister Choi Kyung-hwan. The plan mostly focuses on boosting domestic demand, stabilizing people's livelihoods and reforming the country's economic structure. Expans...

Updated : 2014.07.24 11:37

S. Korea to inject 40.7 tln won for economic recovery

South Korea plans to implement a macroeconomic policy package worth about 40.7 trillion won (US$39.7 billion) to kick-start an economic recovery beset by anemic domestic demand, slowing exports growth and deepening uncertainties at home and abroad, the finance ministry said Thursday.The go...

Updated : 2014.07.24 11:35

Naver to offer easier access to financial information

The public is to have easier access to financial information in the future, thanks to a partnership between the Financial Services Commission and the nation’s biggest portal Naver.FSC chairman Shin J...

Updated : 2014.07.23 19:51

Korea faces growth challenges: SC Bank

The Korean economy is facing increasing long-term growth challenges, including high household debt and an aging population, according to a report by Standard Chartered Bank.Strong exports and record-high foreign exchange reserves may bring about short- and mid-term growth, but slow domesti...

Updated : 2014.07.23 19:50

Pension service holds over 5% stake in 83 chaebol affiliates

The National Pension Service holds more than a 5 percent share in firms affiliated with the nation’s top 30 conglomerates, data showed Wednesday. South Korea’s state-run pension fund held such stakes in more than 83 conglomerate affiliates as of Monday that together were worth 55.15 tril...

Updated : 2014.07.23 19:50

S. Korea's domestic credit card spending falls in May

South Korea's domestic credit card spending by individuals dropped in May for the second consecutive month due to April's deadly ferry sinking that hurt consumer sentiment, central bank data showed Tuesday. Credit card spending by individuals fell 1.6 percent to 30.5 trillion won (US$29.7 ...

Updated : 2014.07.22 11:15

Finance minister, BOK chief agree on growth drive

South Korea’s new finance minister and the central bank chief agreed on Monday to work together to sustain economic growth at their first official meeting in a closed-door session. Finance Minister C...

Updated : 2014.07.21 20:40

[SUPER RICH] From mutual fund tycoon to conglomerate chairman

The year 2013 was a turning point for self-made billionaire Park Hyeon-joo, founder of Mirae Asset Financial Group. The company, debuted in 1997 as a mutual fund management firm, advanced onto the lis...

Updated : 2014.07.21 20:21

FSC struggles with prolonged personnel vacuum

South Korea’s financial industry is more than ready to see some new blood at the Financial Services Commission ― the decision-making body at the nation’s financial watchdog ― but it seems like the personnel vacuum won’t be filled for some time. The biggest reason is the sheer lack of ...

Updated : 2014.07.21 20:16

Investors betting on dividend funds on policy hopes

South Korean investors are pouring money into funds that invest in dividend-paying stocks on hopes that a series of measures under review by the country‘s new finance minister will push local companies to increase dividend payouts, data showed Monday.Dividend funds have received a net 302...

Updated : 2014.07.21 20:15

KRX to push firms to raise dividends

The Korea Exchange, the nation’s main stock operator, will provide incentives for local firms to bolster their dividend payouts from as early as the second half of this year, its chairman said Friday...

Updated : 2014.07.20 21:21