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Seoul shares rise 1.7% on Samsung, techs
South Korean stocks finished markedly higher Monday led by gains of top-cap Samsung Electronics and other tech shares tracking their Wall Street peers despite lingering concerns about US President Donald Trump's sweeping tariff scheme. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 44.33 points, or 1.73 percent, to close at 2,610.69, ending a two-day losing streak. Trade volume was moderate at 391.15 million shares worth 11.82 trillion won ($
March 17, 2025 -
Number of stock investors edges up in 2024
The number of stock investors in South Korea inched up from a year earlier in 2024 amid a bearish market trend, industry data showed Monday. A total of 14.23 million investors held shares in 2,687 companies listed on the country's main and secondary bourses, up 0.5 percent from a year earlier, according to the data from the Korea Securities Depository. Retail investors in those corporations closing their books in December numbered 14.1 million, or 99.1 percent of the total. Local corporate inves
March 17, 2025 -
Household loan growth still manageable: regulator
The financial regulator said Monday that household loan growth is still manageable, although its growth spiked last month amid the spring moving season and a rise in home prices in some areas of Seoul. Last month, household loans extended by all financial institutions rose 4.3 trillion won from a month earlier to reach 1,667 trillion won, shifting from an on-month dip the previous month. In particular, household loans extended by banks rose for the first time in three months in February. "Househ
March 17, 2025 -
Container shipping costs on S. Korea-China route rise in Feb.
Container shipping costs from South Korea to China continued their upward trend in February partly due to ongoing disruptions in global maritime routes, the customs agency said Monday. The average cost of shipping a 40-foot container to the country's largest trading partner rose 4.7 percent from a month earlier to 847,000 won ($583) last month, according to the data from the Korea Customs Service. This marks a continuation of the price increase that began in February 2024, with only brief slowdo
March 17, 2025 -
Seoul shares open markedly higher on Samsung gains
South Korean stocks got off to a strong start Monday, tracking Wall Street gains, as tech giant Samsung Electronics and other tech shares gathered ground on solid foreign buying. The benchmark Korea Composite Stock Price Index added 30.61 points, or 1.19 percent, to 2,596.97 in the first 15 minutes of trading. US shares jumped Friday as investors snapped up recently battered tech blue chips for bargain hunting while brushing off concerns about an economic slowdown and a global trade war. The Dow
March 17, 2025 -
Korea's finance ambassador meets with global investors in New York
Finance Ambassador Choi Jong-ku promotes Korean market, reassures global investors of economic stability at New York IR session South Korea emphasized its market stability and commitment to enhancing accessibility for global investors in New York, aiming to reassure them amid ongoing domestic political turmoil. The Ministry of Economy and Finance announced Sunday that Choi Jong-ku, Korea’s ambassador for international financial cooperation, held a briefing on Tuesday for global investors. Senior
March 16, 2025 -
Number of economically inactive young people rises further in 2025: data
The number of young South Koreans who were jobless or opted to remain economically inactive surpassed 1.2 million last month amid tough job market conditions, data showed Sunday. A total of 1.21 million individuals aged 15 to 29 either remained unemployed or economically inactive to prepare for a job or without specific reasons as of end-February, according to the data compiled by Statistics Korea. The figure marked an increase of 70,000 from last year's 1.13 million. Of the total, those who opt
March 16, 2025 -
BOK rules out inclusion of bitcoin in foreign exchange reserves
The South Korean central bank has called for a "cautious approach" to an idea of including bitcoin as foreign exchange reserves given its price volatility, officials said Sunday. There have been discussions among lawmakers about the possible inclusion of cryptocurrencies in its strategic reserves after US President Donald Trump announced the establishment of a strategic bitcoin reserve and digital asset stockpile earlier this month. In an answer to a question by Rep. Cha Gyu-geun of the minor Re
March 16, 2025 -
S. Korea's household debt to GDP ratio at world's 2nd highest: data
South Korea's household debt-to-gross domestic product ratio was the second highest among major nations, following Canada, amid growing concerns about rising household borrowing amid weak growth and domestic demand, data showed Sunday. The debt-to-GDP ratio for South Korea came to 91.7 percent in the fourth quarter of 2024, which marked the second highest among 38 major nations, according to the data from the Institute of International Finance. Canada topped the list with 100.6 percent, and Thai
March 16, 2025 -
S. Korea's import prices fall for first time in 5 months in Feb.: BOK
South Korea's import prices fell for the first time in five months in February due mainly to falling global oil prices, central bank data showed Friday. The import price index shed 0.8 percent from a month earlier in February, following a 2.2 percent on-month increase the previous month, according to the preliminary data from the Bank of Korea. The index fell for the first time since September, as the average price of Dubai crude, South Korea's benchmark, fell 3.1 percent from a month earlier to
March 14, 2025 -
S. Korea may log negative growth from 2050 if low birth rate continues: BOK chief
The chief of the South Korean central bank warned Friday the current level of ultra-low birth rate will cause South Korea to log negative economic growth after 2050, calling for measures to ease intense competition and burdens regarding employment, housing and child care. The Bank of Korea Gov. Rhee Chang-yong issued the warning in his keynote speech during the Global Engagement & Empowerment Forum held in Seoul, citing the demographic crisis and climate change as the most urgent challenges faci
March 14, 2025 -
Hyundai Steel shifts to emergency management mode amid tariff, labor woes
Hyundai Steel Co. said Friday it has shifted to an emergency management mode in response to growing challenges, including the recent imposition of steel tariffs by the United States and an ongoing strife with unionized workers. The company announced that all executives have taken a 20 percent pay cut effective Thursday, while the company has begun reviewing a voluntary retirement program for employees. In addition, the company plans to minimize overseas business trips and implement extreme cost-
March 14, 2025 -
Govt. warns of 'downward pressure' amid geopolitical uncertainties, construction slump
South Korea's economy is facing "increasing downward pressure" due to growing geopolitical uncertainties that have weakened export growth and the job market in construction and other key sectors, the finance ministry said Friday. In its monthly economic report, the Green Book, the Ministry of Economy and Finance cited ongoing downward pressure for the fourth consecutive month, attributing it to domestic political instability and an escalating global trade war fueled by US tariff measures. The la
March 14, 2025 -
Acting president calls for 24-hr monitoring of financial markets ahead of key policy meetings
Acting President Choi Sang-mok on Friday instructed financial authorities to maintain around-the-clock monitoring of the financial markets ahead of major policy meetings next week, including the US Federal Reserve's rate-setting meeting. Choi made the remarks during a weekly meeting on macroeconomic and financial issues, attended by Bank of Korea Gov. Rhee Chang-yong, as well as the chiefs of the Financial Services Commission and the Financial Supervisory Service, according to the Ministry of Ec
March 14, 2025 -
Assembly passes bill to expand corporate board’s fiduciary duty to shareholders
Business groups fear slower decision-making, surge in legal disputes The National Assembly on Thursday passed a bill to hold company directors accountable for causing harm to general shareholders through their decision-making in the boardroom, despite strong opposition from the ruling conservative party and business groups. The amendment to the Commercial Act was approved with 184 votes in favor, 91 against, and four abstentions, with 279 lawmakers of the 300-seat Assembly present during the ple
March 13, 2025