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KRX unveils 4 new dividend indices

South Korea's bourse operator on Tuesday unveiled a set of new indices that track high dividend-paying stocks, hoping that they will serve as key investment tools in the era of low market rates and low growth.The four new indices -- the KOSPI high dividend index, the KRX high dividend inde...

Updated : 2014.10.21 15:30

S. Korea's corporate bill default rate slips in Sept.

The default rate of corporate bills in South Korea dipped in September compared with the previous month when the figure soared to the highest level in more than three years, central bank data showed Tuesday.The default rate of corporate bills -- bonds, checks and promissory notes -- reache...

Updated : 2014.10.21 14:06

Local bourse operator OKs Cheil Industries' IPO plan

South Korea's bourse operator Korea Exchange said Monday that it has approved Cheil Industries Inc.'s plan to list its shares on the local main stock market. The de facto holding firm of South Korea's top conglomerate Samsung Group had filed for an initial public offering on Sept. 19. Che...

Updated : 2014.10.20 20:10

Samsung Securities to focus on medium-risk fund

Samsung Securities is poised to launch a multisector bond mutual fund as part of its effort to reinforce its medium-risk investment package, the company said last week.On Oct.16, the Samsung brokerage...

Updated : 2014.10.19 20:55

Korean currency, stocks most volatile in Asia

South Korean currency and stocks have been the worst performers among emerging markets in Asia this month amid concerns of a slow economic recovery and a set of negative external factors, market data showed Sunday.According to the data, the South Korean won tumbled 2.06 percent against the...

Updated : 2014.10.19 20:54

KB Financial shortlists candidates for chairman post

KB Financial Group has narrowed down the list of candidates in the bid for its chairman post.Following a related committee meeting on Thursday, four former financial executives were placed on a shortl...

Updated : 2014.10.17 21:25

Court sentences Tong Yang chief to 12 years in prison

The head of financially troubled Tong Yang Group, the nation’s 38th largest company, was sentenced to 12 years in prison on Friday for selling financial products he knew would yield little or no returns, while thousands of investors’ livelihoods had depended on them.Hyun Jae-hyun, 65, wa...

Updated : 2014.10.17 21:23

Seoul shares fall on weak U.S. economic data

South Korean stocks lost ground Thursday as weak U.S. economic data caused investors to re-evaluate overall market conditions. The local currency rose against the U.S. dollar. Starting the day on the minus side, the benchmark Korea Composite Stock Price Index recouped some losses, yet ende...

Updated : 2014.10.16 20:52

Embezzlement at financial firms reaches W1.4tr over four years

Some 1.4 trillion won ($1.39 billion) was embezzled and misappropriated at local financial companies over the past four and a half years, with the largest single amount of misused funds increasing, financial data showed Thursday.Data from the Financial Supervisory Service, submitted to the...

Updated : 2014.10.16 20:51

Sales growth at Korean companies tumbles to 2.1 percent in 2013

South Korean companies’ sales growth dropped to the lowest level in more than 10 years as Asia’s fourth-largest economy struggled from slackening domestic demand, central bank data showed Thursday.Sales expanded 2.1 percent in 2013, sharply slowing from 5.1 percent in the previous year, ...

Updated : 2014.10.16 20:51

KDB at fore of preparations for Korean reunification

South Korea’s state-run Korea Development Bank has reinforced ties with its German counterpart KfW Bank, seeking inspiration from the latter’s experience financing Germany’s reunification.The two b...

Updated : 2014.10.16 20:50

‘Economy facing risks of low growth, low inflation’

South Korea’s economy is facing numerous risks, including protracted low growth and low inflation, which requires the government to keep up its efforts to reinvigorate the economy by stimulating consumption and corporate investment, the finance minister said Thursday. “Our economy is con...

Updated : 2014.10.16 20:46

Citigroup Korea to exit consumer lending

Citigroup Korea is dropping its consumer lending unit ― Citigroup Capital Korea ― in a bid to streamline operations, the banking giant said in its third-quarter earnings report on Tuesday.The announcement, however, will not affect Citigroup’s core businesses that include retail banking,...

Updated : 2014.10.15 21:03

‘Choinomics’ faces hurdles in parliamentary audit

Deputy Prime Minister and Finance Minister Choi Kyung-hwan is to be questioned during a parliamentary audit session on Thursday on whether his aggressive policies had the intended economic boosting ef...

Updated : 2014.10.15 21:01

FSS chief shifts responsibility for KB Financial strife

South Korea’s chief financial regulator on Wednesday denied any shortcomings on his part in dealing with the internal feud at KB Financial Group, the country’s second-biggest banking group by market value, and rejected speculation that there was external pressure.Former KB Financial Chai...

Updated : 2014.10.15 20:57