South Korea's imports via e-commerce reached a new all-time high in 2021 as more people purchased foreign goods online, government data showed Thursday. The country's e-commerce imports stood at $4.15 billion in the first 11 months of this year, up 25.7 percent from a year earlier, according to the data from the Korea Customs Service. The amount for the 11-month period surpasses the full-year f...

South Korea's antitrust regulator said Thursday it has imposed a combined fine of 912 million won ($769,500) on 107 affiliates of 40 conglomerates for their failure to properly make public filings on major business information. The Fair Trade Commission (FTC) said it has looked into whether 2,612 affiliates of 71 large business groups subject to public filing obligations have fully made public d...

South Korean shares opened a tad higher Thursday as investors snapped up tech blue-chip bargains following a drop in the previous session. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.31 points, or 0.14 percent, to 2,997.60 in the first 15 minutes of trading. Tech and bio shares led the overall gains. Market bellwether Samsung Electronics rose 0.63 percent, and No. 2 chipmake...

South Korea's industrial output increased by the most in 17 months in November in the latest sign that economic recovery momentum has been extended despite the pandemic, data showed Thursday. Industrial output grew 3.2 percent in November from the previous month, a turnaround from a 1.9 percent on-month fall in October, according to the data compiled by Statistics Korea. It marked the largest o...

Portion of working age population slides to 1996 level

NongHyup Bank said Wednesday that it has developed a pin pad that kills germs like the coronavirus with a UV light after customers have used it to enter their passcodes. The pad, the first of its kind adopted by a local bank, will be used at NongHyup branches nationwide after a trial run at its key offices in Seoul, the bank said. It added that the pad does not pose health risks. Meanwhile, Lot...

Seoul shares closed lower Wednesday on ex-dividend date and profit-taking amid lingering concerns over the economic implications of the omicron strain. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 26.95 points, or 0.89 percent, to 2,993.29 points. Trading volume was moderate at about 536.6 million shares worth some 10.8 trillion won...

South Korea’s vice finance minister said Wednesday that the nation’s healthcare data combined with information and communications technology will have a “dynamic effect” on the economy. “With the passage of three data-related bills last year, enactment of the Data Framework Act and pursuit of the data dam project has allowed us to secure a systematic platform to enter a data economy,” Vice Finan...

South Korea's terms of trade hit a near nine-year low in November as import costs rose at a much faster pace than export prices, central bank data showed Wednesday. The nation's net terms-of-trade index for goods -- a gauge of overall trade terms -- came to 88.27 last month, down 10.1 percent from a year earlier, according to preliminary data from the Bank of Korea (BOK). The November tally rep...

South Korea's corporate capital spending is expected to expand nearly 4 percent in 2022 on a recovery in manufacturing activity and private consumption, a poll showed Wednesday. The survey of 3,700 big, midsize and small companies, taken by the state-run Korea Development Bank (KDB), showed their combined facility investments will likely reach 186 trillion won ($158 billion) next year, up 3.6 pe...

South Korean shares opened lower Wednesday as institutional and foreign investors dumped shares on the ex-dividend date. The benchmark Korea Composite Stock Price Index (Kospi) fell 17.81 points, or 0.59 percent, to 3,002.43 in the first 15 minutes of trading. Overnight, Wall Street showed mixed results amid persistent concerns over the COVID-19 pandemic. The Dow Jones Industrial Average rose ...

South Korea’s exports of fishery products grew 20.5 percent on-year in the first 10 months of this year, data showed. Outbound shipments of fishery products reached $2.24 billion during the January-October period, compared to $1.86 billion tallied a year earlier, according to the data from the Ministry of Oceans and Fisheries. Exports to China rose 48.1 percent to $540 million, and those to the...

South Korean manufacturers' business sentiment improved for January on optimism that the country's exports remain strong despite the global pandemic, central bank data showed Wednesday. The business sentiment index (BSI) for local manufacturers came to 92 for December, up from 88 for this month, according to the data from the Bank of Korea (BOK). The index measures manufacturers' prospects for ...

2 in 5 company heads to be women in Korea in coming years

Samsung C&T said it has signed a deal to build an undersea high-voltage direct current network that connects the United Arab Emirates’ offshore oil production facilities and Abu Dhabi’s land power network. Samsung C&T said it would form a consortium with Belgian construction company Jan De Nul for the engineering, procurement and construction project worth 3.5 trillion won ($3 billion). Samsung...