The second annual meeting of the Asian Infrastructure Investment Bank will be held on South Korea's southern island of Jeju in June, the finance ministry said Tuesday. The meeting of the board of governors will held on June 16-18 with the theme "sustainable infrastructure" and more than 10 seminars and discussion sessions, according to the Ministry of Strategy and Finance. Detailed programs inc...

South Korean stocks on Tuesday hit a six-year high, on strong buying from foreign investors with the global stock market rally, brokerage data showed. The nation’s benchmark Kospi closed at 2,196.85, rising by 1.06 percent from the previous session. The figure is the highest since the index closed at 2,200.73 on May 3, 2011, according to the Korea Exchange. The tech-heavy Kosdaq also went up 0.9...

Hyundai Samho Heavy Industries, a shipbuilding affiliate of Hyundai Heavy Industries, has landed a 300 billion won ($265.7 million) pre-initial public offering investment with IMM Private Equity. Under the agreement with IMM PE, HSHI said it will issue 5.36 million new convertible preferred shares, with the private equity firm paying out 300 billion won in total to acquire the stocks at 56,000 w...

Daewoo Engineering & Construction has recorded its largest quarterly operating profit in the company’s history, posting operating profits of roughly 22.1 billion won ($19.5 million) and a net income of 191.9 billion won, according to the company Tuesday. Despite recording operating and net losses in the fourth quarter of last year, Daewoo E&C said the profits achieved in its housing and construc...

Mirae Asset Global Investments, an asset management unit under Mirae Asset Global Investments Group, said its four exchange-traded funds have shown their competitive edge against other ETF products on the Hong Kong Exchange. Mirae Asset’s four leverage and inverse ETFs, or L&I ETFs, that traces Hang Seng index comprised of H-shares on the Hong Kong Exchange, ranked second in terms of the market ...

Since the fourth industrial revolution was discussed in the World Economic Forum in January, 2016, the academic circle and the media have expressed interests in key drivers of the fourth industrial revolution including biometrics, big data and artificial intelligence. In addition, Google DeepMind’s artificial intelligence program AlphaGo came under the spotlight with its unexpected moves in Go ga...

South Korea's terms of trade deteriorated slightly in March from a year earlier as a rise in export prices was offset by a hike in import prices, central bank data showed Tuesday. The terms of trade index for products came to 99.57 last month, down 4.5 percent from a year earlier, according to preliminary data from the Bank of Korea. The index measures the amount of imports a country can purcha...

South Korean stocks traded higher late Tuesday morning, led by gains in tech and autos. The benchmark Korea Composite Stock Price Index advanced 9.11 points, or 0.42 percent, to 2,182.85 as of 11:15 a.m. Most large-cap stocks were mixed across the board. Top market cap Samsung Electronics rose 1.84 percent, while SK hynix, a major chipmaker, shed 1.15 percent. Hyundai Motor, the No. 1 automak...

Foreign investors bought South Korean stocks for a third straight session, fueling expectations that the country's benchmark index could break this year's record high, brokerage data showed Tuesday. Foreign buying between Thursday and Monday came to nearly 700 billion won ($617 million), according to data from Korea Exchange, the local bourse operator. Foreigners' buying spree of local stocks c...

The reported capitalization of South Korean life insurers is expected to face pressure if they adopt a new international accounting standard, credit appraiser Moody's Investors Services said Tuesday. South Korean life insurers have been preparing to report financial results under International Financial Reporting Standards 17, which will go into effect in South Korea from 2021. Stella Ng, a vic...

South Korea's finance minister held talks with the head of global investment bank Citigroup Inc. on Monday (local time) to share his views on global recovery trends and its impact on Asia's fourth-largest economy. At the meeting with Citigroup CEO Michael Corbat in New York, Finance Minister Yoo Il-ho said the South Korean economy has managed to pull off modest growth led by brisk exports which ...

The combined sales of South Korea's four credit rating companies fell 0.2 percent on year in 2016, due to a decline in sales of corporate bonds, data showed Tuesday. Total sales for four credit rating firms -- NICE Investors Service, Korea Investors Service, Korea Ratings and Seoul Credit Rating & Information -- stood at 82.76 billion won ($73.2 million) last year, compared to 82.95 billion won ...

South Korean stocks opened higher Tuesday, led by gains in tech firms and automakers. The benchmark Korea Composite Stock Price Index rose 2.39 points, or 0.11 percent, to 2,176.13 in the first 15 minutes of trading. Most large caps traded higher, with market kingpin Samsung Electronics adding 1.12 percent and SK hynix, a major chipmaker, remaining flat. Hyundai Motor, the No. 1 automaker, mov...

The earnings surprise of major commercial banks in South Korea in the first quarter was partly driven by their improved net interest margins, data showed Monday. The combined net profit of the four major commercial banks -- Shinhan Bank, Kookmin Bank, KEB Hana Bank and Woori Bank -- in the first quarter came to 2.28 trillion won ($2.01 billion), a 22.3 percent rise on-year, according to earnings...