The Korea Herald

AIIB highlights urgency for sustainable infrastructure

EconomyJun 16, 2017

President Moon urges sustainable, people-focused investment
Seoul stocks end almost flat amid profit-taking

MarketsJun 16, 2017

South Korean stocks finished almost flat Friday as foreign investors dumped local shares to lock in recent gains, offsetting a buying spree by institutions and individuals, analysts said. The Korean won sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.18 point, or 0.01 percent, to close at 2,361.38. Trade volume was slim at 323.92 mil...
Korean think tank to hold forum at AIIB meeting

MarketsJun 16, 2017

South Korea's state-run think tank said Friday it will hold a forum on how to promote infrastructure investment in Asia on the sidelines of an annual meeting of a China-led regional lender. During the Saturday forum in Jeju, economists will discuss ways to step up cooperation between the government and private sectors as well as multilateral lenders for infrastructure investment, the Korea Devel...
Rebidding for remaining Incheon airport duty-free store license falls through again

MarketsJun 16, 2017

The rebidding to lease out the remaining duty-free store license for Incheon International Airport's new passenger terminal fell through again due to a lack of tenders, the transportation hub operator said Friday. The license bidding to run an apparel and accessories store in the second terminal failed for the sixth time with Shinsegae DF as the only company taking part in the auction, according...
Seoul shares down in late morning on foreign selling

EconomyJun 16, 2017

South Korean stocks traded mildly lower late Friday morning as foreign investors offloaded local shares in an apparent move to lock in recent gains, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 2.33 points, or 0.1 percent, to 2,359.32 as of 11:20 a.m. On Thursday (local time), US stocks dropped, with the S&P 500 Index falling 0.2 percent, led by drops in te...
Korea's won expected to remain steady despite US policy tightening

EconomyJun 16, 2017

South Korea's won currency is likely to remain steady for the time being, despite US Federal Reserve's move to tighten its monetary policy, analysts here said Friday. The won has risen 6.9 percent against the US dollar so far this year, and the local currency market showed a muted reaction after the Fed raised interest rates by 25 basis points as expected. The won's strength was mainly due to t...
Korea's export prices down 1% in May on strong won

EconomyJun 16, 2017

South Korea's export prices fell slightly in May from a month earlier due to the strong won and a drop in oil prices, central bank data showed Friday. In local currency terms, overall export prices fell 1 percent month-on-month in May, according to preliminary data provided by the Bank of Korea. Still, year-on-year, export prices jumped 5.3 percent last month, marking the seventh consecutive mon...
Finance minister holds talks with head of China-led regional lender

MarketsJun 15, 2017

Finance Minister Kim Dong-yeon held talks on Thursday with Jin Liqun, president of a Chinese-led regional lender, during which the two sides agreed to step up cooperation, officials said. The talks between Kim and Jin were held a day before the annual meeting of the Asian Infrastructure Investment Bank (AIIB) in South Korea's southern island of Jeju. During the meeting, Kim told Jin that South ...
[AIIB] Finance leaders welcome AIIB delegates

MarketsJun 15, 2017

Lee Dong-geol, chairman and CEO of the Korea Development Bank I extend my warm congratulations to the 2017 Asian Infrastructure Investment Bank Annual Meeting to be held in Jeju from Friday to Sunday. Under the theme of sustainable infrastructure, the meeting will be an opportunity for all participants to engage in finding solutions for the balanced development and shared growth of Asia, and dr...
[Photo News] Online banking upgrade

MarketsJun 15, 2017
Fed hike dents Korean stock markets

MarketsJun 15, 2017

South Korea’s stock markets dipped Thursday after the US Federal Reserve on Wednesday decided to raise its benchmark interest rate by 0.25 percent and shrink its balance sheet. The benchmark indexes -- the Korea Composite Stock Price Index and Korean Securities Dealers Automated Quotations -- sank along with other Asian markets in Tokyo, Hong Kong and Shanghai. The Kospi closed at 2,361.65, dow...
K bank meets annual goal in deposits

MarketsJun 15, 2017

K bank has drawn 520 billion won ($463.1 million) in deposits in total within less than three months since its launch, surpassing its annual goal, according to news reports Thursday. K bank, South Korea‘s first online-only lender, reportedly exceeded its earlier goal by the end of 2017 on Tuesday, after kicking off the customer service on April 3. It had aimed to attract 500 billion won in custo...
Seoul stocks end lower after US Fed rate hike

MarketsJun 15, 2017

South Korean stocks finished lower Thursday as institutional investors dumped major large cap shares to lock in recent gains, following the US rate hike, analysts said. The Korean won lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.99 points, or 0.46 percent, to close at 2,361.65. Trade volume was moderate at 333.18 million shares worth 5.78 trillion wo...
Number of de facto unemployed people surpasses 700,000 for 1st time: data

EconomyJun 15, 2017

The number of people preparing for jobs surpassed the 700,000 mark in May for the first time ever, data showed Thursday, amid the rising unemployment among young people. The figure surged to 735,000 last month, up 13 percent from 656,000 a year earlier, the data by Statistics Korea said. Those who are preparing for jobs are not categorized as jobless as they belong to the economically inactive ...
[Monitor] More preparing for jobs

EconomyJun 15, 2017

The number of people preparing for jobs without actually seeking jobs surpassed 700,000 for the first time last month, according to Statistics Korea. Those preparing for jobs are categorized as economically inactive, as they are not actually seeking for jobs during the preparation process. A total of 735,000 were preparing for employment, up 13 percent from the same month the previous year. It ...