Cargo processed at South Korean seaports fell 18.2 percent in August in the wake of the coronavirus outbreak, government data showed Sunday. Cargo handled at the country's ports came to 117.34 million tons last month, down from 143.43 million tons a year earlier, according to the data by the Ministry of Oceans and Fisheries. Handling of export-import cargo shrank 19.7 percent on-year to 100.8 million tons last month, leading the overall decline. Hit by the coronavirus pandemic, container car

South Koreans on average consumed alcoholic beverages 8.5 days per month in 2019, a poll showed Sunday, with a growing number of people drinking at home this year due to the virus pandemic. It marked a slight drop from 8.8 days posted in 2017 and 2018, according to the report released by the Ministry of Agriculture, Food and Rural Affairs. Around 43 percent of South Koreans picked beer as the most preferred type of alcoholic beverage, followed by soju, a distilled liquor made with grain, with

South Korea's stock market advanced a whopping 65 percent over the past six-month period despite the global virus pandemic, on the back of pharmaceutical and technology shares, data showed Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) on Friday ended at 2,412.40 points, up 65.5 percent from six months ago, according to the main bourse operator Korea Exchange (KRX). The country's stock rally marked the second-highest rise among G-20 countries, following Argentina's 87 percent

The Seoul Metropolitan Government said Friday that it is scheduled to accept new applicants for a program that offers office space for foreign financial firms at affordable prices in Yeouido, a financial hub in the city. The municipal government plans to run the Seoul International Financial Office on the 16th floor of the One IFC building. Eligible applicants include foreign or South Korean financial institutions, and finance-related international organizations or nonprofit corporations enter

The stock price of petrochemical-to-battery company LG Chem rebounded Friday after a sharp loss immediately after its announcement during trading hours Thursday that it would split off its battery operation. LG Chem shares climbed 3.3 percent in the Friday trading session. LG Chem is the fifth-largest stock on the main bourse, Kospi, with 47.1 trillion won ($40.6 billion) market cap. The slight recovery came after the Seoul-based company unveiled plans to carve out its battery unit under a ne

South Korean stocks snapped a two-session losing streak on Friday, helped by strong foreign buying that offset individuals' profit-taking rush. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.23 points, or 0.26 percent, to close at 2,412.40. Trading volume was moderate at about 744 million shares worth some 13.7 trillion won ($11.8 billion), with losers outnumbering gainers 433 to 416. After a 1.22 percent drop in the previous session

The Military Mutual Aid Association, which provides pension services for military personnel, has been the most profitable mutual aid association in South Korea for the past three years, business data tracker CEO Score Daily said Friday. Currently, the nation has seven large mutual aid associations, including the Public Officials Benefit Association, the Korea Local Finance Association, the Police Mutual Aid Association and the Korean Teachers’ Credit Union. The MMAA’s return on

The South Korean government has rolled up its sleeves once again to help virus-battered small businesses. Next Wednesday it plans to expand its ongoing emergency loan program for merchants and entrepreneurs, and a Finance Ministry representative said it will also try to minimize the impact of the lockdown measures on the economy. 　 “The government has raised the credit limit on the second round of its emergency lending program, from the previous 10 million won ($8,620) to 20 million won

South Korean asset manager Shinhan BNP Paribas Asset Management said Friday that it would beef up efforts to take climate change into account in its asset management business, as part of its green finance and impact investing. Under its climate action declaration released Friday, the joint venture of Shinhan Financial Group and BNP Paribas Asset Management will consider the impact its investment decisions and financial products could have on climate change. It is the first such declaration in

SEJONG -- The coronavirus pandemic is accelerating digital transformation and the world needs to prepare for this structural change in a post-pandemic era, South Korea's finance minister has said. Finance Minister Hong Nam-ki made the remarks at an online meeting of the Group of 20 Finance and Health Ministers on Thursday, the ministry said in a statement. Hong said the pandemic has accelerated digital transformation and contactless solutions in businesses and society, while increasing the

South Korean stocks opened higher Friday, led by a rebound in battery and bio heavyweights.  The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.25 percent, to 2,412.2 in the first 15 minutes of trading.  The KOSPI rebounded after the index lost 1.22 percent in the previous session.  Battery and biopharmaceutical large caps fared strong, while auto-related shares dipped.Leading chemical company LG Chem jumped 2.33 percent, a day after it announced its decisi

The International Olympic Committee has sent a congratulatory letter to life insurance firm Kyobo Life Chairman Shin Chang-jae, who has been appointed as the organizing chief for the Gangwon 2024 Winter Youth Olympic Games. While congratulating Shin’s appointment, Thomas Bach, the IOC president, expressed expectations for the quadrennial global sports event, which is scheduled to be held in Gangwon Province. “Considering the chairman’s contributions to youth sports and cult