[THE INVESTOR] The Bank of Korea said on Oct. 13 that it has revised down its growth outlook for next year to 2.8 percent from the 2.9 percent forecast three months earlier.The outlook is lower than the government’s estimate that the local economy could reach the 3 percent range next year.BOK Gov. Lee Ju-yeol said South Korea will not have difficulties in achieving 2.7 percent economic growth this year.BOK Gov. Lee Ju-yeolLee said that the central bank took into account fallout from Samsung’s Ga

Oct. 13, 2016

[THE INVESTOR] Chinese handset makers, including top three Huawei, Vivo and Oppo, are expected to snatch the demand for Samsung Electronics’ now suspended Note 7 smartphone, according to a recent report of a market research firm. TrendForce estimated that Samsung has produced about 4 million units of the bigger-screen phone since the device went on sale in August. The original production volume forecast for the entire 2016 was between 10 to 12 million units. The firm added that chances of rework

Oct. 13, 2016

■ Strong USD and weak sentiment vs. level burden, exporters’ USD selling; USD-KRW up slightlyThe USD-KRW rate opened October 12 at KRW1,123.8, up KRW3.4 from the previous close. The USD received upward pressure and investor sentiment had weakened on declines in stock markets of major economies and oil prices. The USD-KRW rate rose further after the market opened on increased net selling of stocks by foreign investors. However, the upside was limited due to the burden of more than a KRW10 increas

Oct. 13, 2016

[THE INVESTOR]  The Bank of Korea is likely to hold its key rate steady in October, polls showed on Oct. 12.The central bank is set to hold a monthly rate-review session on Oct. 13 to decide whether to maintain or cut an all-time low rate of 1.25 percent. It is also set to announce its estimates on growth outlook and consumer prices for this year and next year.A recent poll conducted by Yonhap Infomax , according to Yonhap News, showed that all 14 economists surveyed forecast the BOK to hold the

Oct. 12, 2016

[THE INVESTOR] Shares of tech behemoth Samsung Electronics have become more volatile this year, data showed on Oct. 12.Samsung has seen its share price jump or drop more than 4 percent from the previous session seven times this year, four of them involving the Galaxy Note 7 episode, according to the data by the Korea Exchange. Samsung recorded a daily volatility of more than 4 percent four times in 2014, six times in 2014 and four times in 2015. Samsung shares tumbled 8.04 percent from the prior

Oct. 12, 2016

■ USD-KRW climbs by a double-digit rate as investor sentiment weakens on Samsung smartphone issue　　The USD-KRW rate opened Tuesday at KRW1,108.5, up KRW0.1 from the previous close. Samsung Electronics shares fell further due to the Galaxy Note 7 issue, pulling down the KOSPI. Amid weak risk appetite, the rate went up to KRW1,121.6 at one point during trading hours as foreigners sold domestic stocks for two consecutive trading days. The upside was limited with exporters’ USD selling. The USD-KRW

Oct. 12, 2016

[THE INVESTOR] South Korea’s jobless rate rose to 3.6 percent in September and the unemployment rate for young adults also remained high, a government report showed Oct. 12.The unemployment rate was 3.2 percent in the same month last year, according to the report compiled by Statistics Korea.The number of employed people stood at 26.5 million in September, up 267,000 from a year earlier, with the monthly gain dropping sharply from the previous month’s 387,000.The unemployment rate for young peop

Oct. 12, 2016