In his inauguration speech Wednesday, new Financial Service Committee Chairman Choi Jong-ku addressed skyrocketing household debt, indicating he may push to adopt the debt-service ratio in household loans to toughen the lending process. “(The FSC) will advance the credit rating systems in financial firms by laying out ones based on the debt-service ratio,” Choi said in a speech at FSC headquarte...

Monetary easing in South Korea has lasted for over a year, with the country’s central bank keeping a record low rate of 1.25 percent for 13 months as of July. Amid uncertainties surrounding the rate, Standard Chartered Bank Korea, the local unit of the London-based banking group, has been holding an event rewarding customers with benefits from checking account interest rates, the bank said Thurs...

South Korean stocks ended up at a fresh record high Thursday amid expectations of solid corporate earnings results. The won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 11.90 points, or 0.49 percent, to close at 2,441.84. Trade volume was moderate at 246.84 million shares worth 5.27 trillion won ($4.5 billion), with gainers outnumbering decliners 431 to 354. ...

South Korean stocks turned lower Thursday morning as foreigners and institutions offloaded their holdings. The won traded down against the dollar. The benchmark Korea Composite Stock Price Index that started the day in positive territory surrendered 0.60 points, or 0.02 percent, to 2,429.34 as of 11:20 a.m. Foreigners and institutions sold a combined 40 billion won ($36 million) worth of stocks...

Woori Bank, a major South Korean commercial lender, said Thursday its net profit for the first six months of this year jumped 46.4 percent on year, thanks to a solid gain in both interest and non-interest income. Net profit jumped to 1.09 trillion won ($971 million) in the January-June period on a consolidated basis, the lender said in a statement. It marked the biggest six-month profit since 2...

Citibank Korea has been named the best foreign commercial bank in Korea in this year’s Country Awards for FinanceAsia, a Hong Kong-based financial magazine, the bank said Wednesday. The New York-based banking group’s unit in Korea bagged the award eight times over the last 10 years. FinanceAsia cited the bank’s “level of soundness” in capital adequacy, “robust growth” in the wealth management b...

South Korean stocks ended up at a fresh record high Wednesday backed by institutional buying amid hopes for sound corporate earnings. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 3.90 points, or 0.16 percent, to close at a record high of 2,429.94. Trade volume was moderate at 266.82 million shares worth 5 trillion won ($4.5 billion), with gainers outnu...

South Korean stocks turned lower Wednesday morning as foreigners and individuals offloaded their holdings. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index that started the day in positive territory surrendered 2.36 points, or 0.10 percent, to 2,423.68 as of 11:20 a.m. Foreigners and individuals sold a combined 133 billion won ($118 million) worth of sto...

South Korean stocks opened higher Wednesday despite losses on Wall Street, with institutions buying stocks on bargain hunting. The benchmark Korea Composite Stock Price Index rose 1.26 points, or 0.05 percent, to 2,427.30 in the first 15 minutes of trading. The main index hit a record high of 2,425.10 in the previous session. Institutional investors bought a net 29 billion won ($26 million) wor...

South Korea's national pension fund has raised its holdings of stocks in Samsung Electronics Co. and SK hynix Inc. apparently to capitalize on the global semiconductor industry boom, market data showed Wednesday. The National Pension Fund held 85.4 trillion won ($75.8 billion) worth of stocks in 100 companies in South Korea at the end of last month, according to the data by corporate tracker CEO...

Panelists in a public hearing held Tuesday to build a legal ground for cryptocurrency in South Korea called for regulators to take swift action to strengthen consumer protection from its transactions. The panel also encouraged the state-led protection to guarantee the stability of the cryptocurrency‘s value and soundness of the related business. Rep. Park Yong-jin, lawmaker of ruling Democratic...

South Korean stocks turned higher to reach a fresh record high Tuesday backed by institutional buying. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.94 point, or 0.04 percent, to close at a record high of 2,426.04. Trade volume was moderate at 255.64 million shares worth 4.6 trillion won ($4 billion), with losers outnumbering winners 414 to 387. Ins...

South Korean stocks trimmed earlier losses Tuesday morning as institutions and individuals bought stocks on bargain hunting. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Indexa backtracked 1.75 points, or 0.07 percent, from the previous day's close to stand at 2,423.35 as of 11:20 a.m. Institutions and individuals bought a combined 85 billion won ($75 mill...

Financial Services Commission Chairman nominee Choi Jong-ku on Monday denied allegations that the regulator gave a preliminary endorsement for the license of K bank, the nation’s first internet-only bank, despite it not meeting the requirements. “I do not believe that FSC officials would have jumped to conclusions with certain intentions and given favors,” Choi said during a confirmation hearing...