South Korea's fiscal deficit widened 21 trillion won ($16.8 billion) in the first 11 months of last year due to increased expenditures amid the pandemic. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of 98 trillion won in the January-November period, larger than a shortfall of 77 trillion won a year earlier, the finance ministry's Monthl...

South Korean stocks opened higher Thursday, taking a cue from overnight Wall Street gains on anticipation of slower inflation in the United States. The benchmark Korea Composite Stock Price Index had increased 6.24 points, or 0.26 percent, to 2,365.77 as of 9:15 a.m. Overnight, the tech-heavy Nasdaq composite added 1.76 percent, and the Dow Jones Industrial Average advanced 0.8 percent, amid ex...

Seoul shares ended higher Wednesday, extending their winning streak to a sixth day, with investors awaiting the release of the new US consumer price index for clues on the future of the Federal Reserve's monetary policy. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index added 8.22 points, or 0.35 percent, to close at 2,359.53 points. Trading volume was m...

Concerns over deepening economic slowdown and a bleak outlook for global business conditions, experts predicted that this year the country’s economy would fall deep into a dark and chaotic situation as if it "goes down the rabbit hole." Korea Chamber of Commerce and Industry summarized the opinions of some 85 economics and management experts including university professors as "falling down the r...

Tough conditions mean high interest rates advertised for savings accounts are often a mirage

Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, as investors expect the upcoming US consumer price index may provide signs of a slowdown in inflation. The benchmark Korea Composite Stock Price Index rose 15.24 points, or 0.65 percent, to 2,366.55 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average moved up 0.6 percent to 33,704.1 points...

Seoul shares ended higher Tuesday, extending their winning streak to a fifth day despite concerns over the Federal Reserve's aggressive rate hikes following hawkish Fed officials' comments. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.12 points, or 0.05 percent, to close at 2,351.31 points. Trading volume was moderate at 351.76 million share...

Activist fund declares proxy fight against 7 local lenders, calls for them to raise dividend ratio to some 50%

Seoul shares opened higher Tuesday as investors remain concerned about the Federal Reserve's aggressive rate hike plans following its officials' recent comments. The benchmark Korea Composite Stock Price Index rose 3.18 points, or 0.14 percent, to 2,353.37 in the first 15 minutes of trading. Fed officials signaled the US central bank could raise rates to somewhere over 5 percent to tame inflati...

Seoul shares ended higher Monday amid expectations of slower US rate hikes. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 60.22 points, or 2.63 percent, to close at 2,350.19 points. Trading volume was moderate at about 334.74 million shares worth some 6.9 trillion won ($5.2 billion), with gainers outnumbering losers 799 to 93. The Dow J...

Monetary Policy Committee to meet on interest rate Friday

Seoul stocks opened higher Monday, tracking gains on Wall Street, as investors expect a slowdown in US wage growth and contraction in the services sector may prod the Federal Reserve to go easy on its aggressive rate hike plans. The benchmark Korea Composite Stock Price Index rose 41.01 points, or 1.8 percent, to 2,330.98 in the first 40 minutes of trading. Most large-cap stocks advanced across...

Once regarded among South Korea's most successful startups, Kurly, operator of fresh food delivery platform Market Kurly, is losing steam with signs of weakening investor appetite for the loss-making firm. Kurly on Thursday officially called off its long-awaited market debut on the country's benchmark Kospi "for the time being." "Considering the worsened investor sentiment amid the global reces...

Seoul stocks closed over 1 percent higher Friday, continuing a three-day winning streak, as foreign and institutional investors picked up Samsung Electronics and other large caps. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index jumped 25.32 points, or 1.12 percent, to close at 2,289.97 points. Trading volume was moderate at about 388.2 million shares w...

Seoul stocks opened a tad higher Friday despite overnight falls on Wall Street and fresh US job data. The benchmark Korea Composite Stock Price Index traded up 0.72 points, or 0.03 percent, to 2,265.37 points in the first 15 minutes of trading. Major indices on Wall Street fell over 1 percent overnight amid concerns that the country's strong labor market data released Thursday could push the Fe...