South Korean stocks extended losses late Thursday morning as foreign investors and institutions offloaded local stocks. The benchmark Korea Composite Stock Price Index lost 12.57 points, or 0.58 percent, to 2,148.28 as of 11:15 a.m. The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.20 percent, with the tech-heavy Nasdaq composite index declining 0.58 ...

Banks have agreed on a refund guarantee for future orders received by the troubled Daewoo Shipbuilding & Marine Engineering Co. that puts a policy lender up front and has commercial banks provide the secondary safety net, sources said Thursday. RG had become a new thorn among creditors of Daewoo Shipbuilding in their efforts to resuscitate the company tittering on insolvency with a 6.7 trillion-...

South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 10.67 points, or 0.49 percent, to 2,150.18 in the first 15 minutes of trading. The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.20 percent, with the tech-heavy Nasdaq composite index declining 0.58 percent. Most l...

South Korean stocks ended slightly lower Wednesday as foreign investors and institutions offloaded local stocks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 0.25 points, or 0.01 percent, to 2,160.85. The broad index bucked overnight gains on Wall Street. The Dow Jones industrial average rose 0.19 percent, with the tech-heavy Nasdaq composite i...

Nearly half of South Korea’s corporations and workers were tax delinquents as of 2015, data by the National Tax Statistics showed Wednesday. Some 280,000 corporations failed to pay due corporate taxes, taking up 47.1 percent of the total. While the ratio wasa slight decline from the previous year, the number has continued to rise. NTS said tax delinquents had generally been firms that made los...

Kakao Bank, the mobile bank of Kakao Corp., won its final regulatory approval Wednesday. The Financial Services Commission held a meeting Wednesday and gave the green light to Kakao Bank to operate as an internet bank that provides banking and financial services without any physical branch network. With the final regulatory hurdle cleared, the bank will begin its services as early as June after...

South Korean stocks traded lower late Wednesday morning as foreigners continued to offload stocks. The benchmark Korea Composite Stock Price Index lost 0.79 points, or 0.04 percent, to 2,160.31 as of 11:15 a.m. The broad index bucked overnight gains on Wall Street. The Dow Jones industrial average rose 0.19 percent, with the tech-heavy Nasdaq composite index climbing 0.07 percent. Bae Sung-you...

South Korea's first Internet-only bank, K-Bank, aims to report its first annual profit in 2020, the bank's chief executive has said, as it seeks to make inroads into the credit card business. Shim Sung-hoon, CEO of K-Bank, said the bank is targeting to attract 400,000 active customers by the end of this year with deposits worth 500 billion won ($445 million). Shim Sung-hoon, CEO of K-Bank, spea...

South Korean shares opened higher Wednesday, tracking gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 0.03 point to 2,161.13 in the first 20 minutes of trading. The main index tracked overnight gains on Wall Street. The Dow Jones industrial average rose 0.19 percent, with the tech-heavy Nasdaq composite index climbing 0.07 percent. Most large-cap stocks were mixed ac...

South Korean stocks ended slightly lower Tuesday on increased selling by foreigners and institutions. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 6.41 points, or 0.30 percent, to 2,161.10 Bae Sung-young, a market analyst at KB Securities Co., said the foreign selloff and profit-taking by investors are to blame for losses in the main bourse. ...

The financial regulator said Tuesday it will allow mutual savings banks to extend policy loans to people with mid-level creditworthiness and those who have difficulty borrowing money from banks. Starting in June, mutual savings banks, such as the Nonghyup and Suhyup banks, will make non-mortgage policy loans worth 200 billion won ($178.3 million) with an annual interest rate of 9 to 14 percent t...

South Korea’s first online-only bank provided over 60,000 accounts to new subscribers as of Tuesday, since its opening Sunday. As of 3 p.m. Tuesday, the bank issued a total of 61,501 bank accounts and 53,960 debit cards. It also accepted 4,123 loan applications. The figures showed the internet-only bank is off to a smooth start, as the numbers drastically contrasted with the some 12,000 bank ac...

South Korean stocks narrowed losses Tuesday, as extended gains in Samsung Electronics helped prop up the main index. The benchmark Korea Composite Stock Price Index lost 1.51 points, or 0.07 percent, to 2,166.00 as of 11:15 a.m. The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.06 percent, with the tech-heavy Nasdaq composite index declining 0.29 perc...

New foreign direct investment pledged to South Korea fell 9.2 percent in the first three months of the year amid rising uncertainties at home and abroad, the government said Tuesday. Fresh FDI committed to the country in the January-March period came to $3.85 billion, down from $4.24 billion a year earlier, according to the Ministry of Trade, Industry and Energy. The amount of new FDI arriving ...

South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 7.29 points, or 0.34 percent, to 2,160.22 in the first 15 minutes of trading. The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.06 percent, with the tech-heavy Nasdaq composite index declining 0.29 percent. Most lar...