The Korea Herald

S. Korea's foreign reserves rebound in Dec.

Jan 4, 2011

South Korea's foreign exchange reserves rebounded in December from the previous month as a weaker U.S. dollar boosted the conversion value of assets in other currencies, the central bank said Tuesday. The country's foreign reserves reached US$291.57 billion as of the end of December, up $1.34 billion from the previous month, according to the Bank of Korea (BOK). The foreign reserves expanded by...
Seoul shares open higher on U.S. gains

Jan 4, 2011

South Korean stocks began higher on Tuesday as overnight rallies on Wall Street boosted investor sentiment, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.77 points, or 0.18 percent, to 2,073.85 in the first 15 minutes of trading. Shipbuilders led the climb with market leader Hyundai Heavy Industries jumping more than 3 percent and its smaller rival Daewoo Shipbui...
New chief regulator sets hardline stance

Jan 3, 2011

Kim Seok-dong, new chief of the Financial Services Commission, said Monday that the financial regulator will actively intervene in the market if necessary for stability. “To secure order and stabilize the market, the authority will take stern measures. On the other hand, the authority will guarantee sufficient autonomy for the sake of reform and development of the market,” he told reporters afte...
Lee to focus on inflation, job creation...

Jan 3, 2011

President Lee Myung-bak said Monday that his economic policies will focus on strong economic growth, job creation and a firmer middle class. “This year, our goals in running the economy are: a high economic growth rate of over 5 percent, inflation of under 3 percent, the creation of good jobs and improvement in quality of life of middle- and low-income families,” Lee said in his New Year’s addre...
Seoul shares open higher on tech gains

Jan 3, 2011

South Korean stocks got off to a strong start on Monday in the first trading of the year, buoyed by gains in technology shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.9 points, or 0.29 percent, to 2,056.9 in the first 15 minutes of trading. Tech issues led the climb with chip giant Hynix Semiconductor adding nearly 4 percent. Financial shares also lent ...
Stocks outdo real estate in 2010

Jan 2, 2011

Stocks and equity funds were the most profitable investments in 2010 with the domestic securities market emerging strongly from the financial crisis, industry data showed. Investors in real estate, however, suffered from lackluster yields as the property market remained sluggish despite government stimulus. The benchmark KOSPI rose by 21 percent throughout 2010 to reach 2,051 points on Thursday...
New FSC chief likely to accelerate M&As

Jan 2, 2011

Three new policymakers join Lee's economic team The stalled consolidation of the financial industry is likely to gain momentum this year under new top regulator Kim Seok-dong, renowned for drive and problem-solving ability. President Lee Myung-bak on Friday named Kim, 57, chairman of the Financial Services Commission. He will take office on Monday. As a former director general and vice chairma...