Korea to delay low-carbon car incentive plan

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Korea mulls public ferry services

The Maritime Ministry said Tuesday it would ban any remodeling of ships that could jeopardize their safety, the first concrete reform taken by the government in response to the tragic sinking of a pas...

Updated : 2014.09.02 20:37

Financial industry union set to strike

Tens of thousands of South Korean financial workers are expected to go on strike for the first time in 14 years this week to protest what they call government interference in the local financial sector, dismissing repeated appeals by authorities to cancel the walkout.“We expect some 50,00...

Updated : 2014.09.02 20:24

Korea’s consumer prices grow 1.4% in August

South Korea’s consumer prices grew at the slowest pace in four months in August due in part to the stabilization of farming goods prices, a government report showed Tuesday. The country’s consumer price index rose 1.4 percent last month from a year earlier, decelerating from July’s 1.6 ...

Updated : 2014.09.02 20:24

Korea’s investments in foreign securities hit record in Q2

South Korea’s institutional investments in foreign securities surged to $90.3 billion as of end-June as asset managers and insurers increased their net buying, central bank data showed Tuesday.The outstanding value of foreign securities held by institutional investors rose by $10 billion ...

Updated : 2014.09.02 20:24

Financial industry union set to strike

Tens of thousands of South Korean financial workers are expected to go on strike for the first time in 14 years this week to protest what they call government interference in the local financial sector, dismissing repeated appeals by authorities to cancel the walkout."We expect some 50,000...

Updated : 2014.09.02 13:37

KB bank chief holds group chairman responsible for feud

KB Kookmin Bank president Lee Kun-ho said Monday that KB Financial Group chairman Lim Young-rok had illegitimately interfered in the bank’s internal affairs, including the much-disputed replacement o...

Updated : 2014.09.01 20:38

Local governments urged to prioritize boosting economy

Finance Minister Choi Kyung-hwan urged provincial governments Monday to place their top priority on boosting the economy and supporting people’s livelihoods.In his meeting with Seoul Mayor Park Won-soon, Choi also said that Seoul City should lead other municipalities in economic stimulus ...

Updated : 2014.09.01 20:36

Insurance fraud increases 11 percent in first half

False insurance claims increased 11.2 percent in terms of payments in the first six months of the year to nearly 300 billion won ($295.77 million), including cases of drunk driving and exaggerated injury, the financial watchdog said Monday.According to the Financial Supervisory Service, in...

Updated : 2014.09.01 20:36

Korea, China, Japan begin 5th round of FTA talks

Negotiators from South Korea, China and Japan met in Beijing on Monday for a fifth round of talks on a trilateral free-trade agreement, a Seoul delegate said, setting aside diplomatic tensions between Japan and the two Asian neighbors over their shared history. South Korea’s chief negotia...

Updated : 2014.09.01 20:36

Korea’s trade surplus shrinks in August

South Korea’s trade surplus shrank from a year earlier last month as its exports dropped while imports grew at a steady pace, the government said Monday. Outbound shipments came to $46.28 billion in August, down 0.1 percent from the same month last year, according to the Ministry of Trade...

Updated : 2014.09.01 20:34

KEB eyes expansion in Europe, Middle East

Korea Exchange Bank has set its eyes on overseas markets, particularly Europe and the Middle East, in an effort to sharpen its competency and future growth. KEB president and CEO Kim Han-jo held an executive meeting Sunday to discuss raising the bank’s overall profit from overseas to 40 p...

Updated : 2014.09.01 20:33

Watchdog to allot tech loan quotas to local banks

The financial watchdog is expected to set tech loan quotas for local banks so that they will mandatorily lend to small and mid-sized companies that have high-end technologies but are short of capital to fund their business, financial sources said Monday.The Financial Services Commission la...

Updated : 2014.09.01 20:33

Seoul shares may gain slightly this week

South Korean stocks may gain with a steady flow of foreign funds, but advances are not likely to be large due to lingering geopolitical concerns this week, analysts said.The benchmark Korea Composite Stock Price Index ended at 2,068.54 last Friday, up 4.6 percent from the previous week’s ...

Updated : 2014.08.31 20:57

Samsung SDS spotlighted in new OTC market

Samsung SDS, which filed for preliminary examination last week for an initial public offering, was highlighted in the new over-the-counter market. According to the Korea Financial Investment Association, trading volume of the nation’s newly revamped OTC market leaped some tenfold, with sh...

Updated : 2014.08.31 20:53

Seoul shares may gain slightly next week: analysts

SEOUL, Aug. 30 (Yonhap) -- South Korean stocks may gain with a steady flow of foreign funds, but advances are not likely to be large due to lingering geopolitical concerns, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) ended at 2,068.54 on Friday, up 4.6 pe...

Updated : 2014.08.30 11:14