South Korean stocks finished almost unchanged Tuesday as investors remain cautious ahead of the US Federal Reserve's interest rate-setting meeting and the release of key inflation data. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 0.62 point, or 0.03 percent, to close at 2,372.40. Trading volume was a bit light at 438.75 million shares wort...

Korea’s financial regulator denies report it is considering to mandate approval of cryptocurrency listing after wemix delisting fiasco

SEJONG -- South Korea's finance ministry on Tuesday renewed its call for corporate tax reform that centers on simplifying the taxation bracket and cutting taxes for large-sized firms amid the simmering tensions at the parliament over the bill's passage. The government and the ruling People Power Party have been pushing to lower the maximum tax rate to 22 percent to attract more investment in Sou...

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street, with the US Federal Reserve's upcoming interest rate-setting meeting in focus. The benchmark Korea Composite Stock Price Index added 9.36 points, or 0.39 percent, to 2,382.38 in the first 15 minutes of trading. Overnight, US shares finished higher following last week's deep losses. The Dow Jones Industrial Avera...

South Korean stocks finished lower Monday as investors remained cautious about the United States' monetary policy direction ahead of a rate-setting meeting amid deepening recession fears. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 16.02 points, or 0.67 percent, to close at 2,373.02. Trading volume was a bit light at 489.54 million shares ...

More than 70,000 people under the age of 30 are obliged to pay a gift tax for receiving assets in 2021, marking a two-fold increase from the year before, data showed Monday. According to Rep. Jin Sun-mee from the Democratic Party of Korea, 70,115 people under 30 are obliged to pay a gift tax for receiving land, properties or securities in 2021. Jin is a member of the Strategy & Finance Committee...

Woori Bank, one of South Korea’s top banks, is offering multilingual services on Sundays at five branches around the country. The five branches -- Ansan, Uijeongbu and Balan in Gyeonggi Province, Gwanghui-dong in Seoul and Gimhae in South Gyeongsang Province -- will be open on Sundays from 10 a.m. to 4 p.m. Foreigners can access general banking services in 10 languages, including English, Chine...

South Korean stocks opened lower Monday as investors were cautious ahead of the US Federal Reserve's rate-setting meeting this week. The benchmark Korea Composite Stock Price Index slid 10.54 points, or 0.44 percent, to 2,378.50 in the first 15 minutes of trading. Several major economic developments from the United States are due this week, as the Fed is to hold a two-day rate-setting meeting s...

Wemix forecasts coin destruction, GDAC exchange comes to the rescue

Foreign investors remained net buyers of local securities, recording a net inflow of $2.74 billion (3.56 trillion won) in local securities in November, data from the central bank showed Friday. According to the Bank of Korea’s report on the international finance and foreign exchange market, foreigners purchased a net $2.1 billion worth of shares and $630 million worth of bonds in Korea in Novemb...

South Korean stocks ended higher Friday, snapping a five-day losing streak, as foreigners and institutions picked up oversold shares amid uncertainty over the US Federal Reserve's monetary policy direction. The Korean won sharply strengthened against the US dollar. The benchmark Korea Composite Stock Price Index rose 17.96 points, or 0.76 percent, to 2,389.04. The main index fell 2.6 percent thi...

Seoul stocks opened higher Friday, tracking gains on Wall Street, as investors await key US inflation data this week for clues as to whether the Federal Reserve could scale down its aggressive monetary tightening. The benchmark Korea Composite Stock Price Index rose 4.72 points, or 0.20 percent, to 2,375.80 in the first 15 minutes of trading. Kospi rebounded after a five-day slide. Stronger-tha...

South Korea posted a current account surplus for the second consecutive month in October, but the amount was much smaller than the previous year amid expanded imports and outbound travel, central bank data showed Friday. The country's current account surplus came to $880 million in October, according to the preliminary data from the Bank of Korea. This marked the second straight month of a surp...

South Koreans’ overseas card spending continued to grow in the third quarter as outbound travel spiked bolstered by eased pandemic curbs, central bank data showed. The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $3.81 billion in the July-September period, up 4.1 percent from the previous quarter, according to the data from the Bank of Kor...

Shinhan Bank President Jin Ok-dong, 61, has been appointed as the final candidate for the new chairman of Shinhan Financial Group, South Korea's No. 2 bank by total assets, Thursday. The group said that nonexecutive directors of the group unanimously voted for Jin at a candidate recommendation meeting held at the firm's headquarters in central Seoul. Other candidates were Shinhan Financial Grou...