Standard Chartered Bank Korea is holding an event for first-time customers who sign up for its Jaeil EZ Account – an occasional deposit and withdrawal account that provides an annual pretax interest rate of up to 3.6 percent even if customers deposit money for just one day. The event, which continues until May 31, offers prizes to a few chosen customers among those who open an account and submit an entry by May 31. One event entry will be additionally counted for every 1 million won ($754)

Forging robust security and economic alliances with the United States and Japan is crucial for South Korea to embrace a reshaped global geopolitical paradigm, said Jun Kwang-woo, chairman of the Institute for Global Economics. “The trilateral allies must bolster their economic cooperation and pursue shared strategic priorities,” to deal with “the looming global geo-economic challenges, accompanied by supply chain disruptions and an energy crisis, result from the post-pandemic

South Korean stocks ended lower for the second day in a row Thursday, as uncertainties linger over talks on the United States' debt ceiling to avoid a federal default. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 12.76 points, or 0.5 percent, to close at 2,554.69. Trading volume was moderate at 903.89 million shares worth 9.27 trillion won ($6.99 billion), with losers outpacing gainers 681 to 182. The index opened slightly higher, despi

Governor maintains hawkish stance, leaving door open for further rate hike

South Korean stocks opened slightly higher Thursday, led by big-cap tech gains, despite uncertainties over the United States' debt ceiling negotiations. The benchmark Korea Composite Stock Price Index added 3.01 points, or 0.12 percent, to 2,570.46 in the first 15 minutes of trading. Overnight, US shares ended lower as negotiations on the US' debt ceiling drag on, with just eight days left till the June 1 deadline. The Dow Jones Industrial Average lost 0.77 percent, and the tech-heavy

South Korean stocks ended nearly flat after a seven-day rise Wednesday, as uncertainties linger over talks on the United States' debt ceiling to avoid a federal default. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 0.10 points, or 0.0 percent, to close at 2,567.45. Trading volume was moderate at 1.06 billion shares worth 7.79 trillion won ($5.91 billion), with losers outpacing gainers 460 to 397. Institutions sold a net 185.5 billion wo

The Korea International Trade Association held a joint conference with the Taiwan External Trade Development Council and Taiwan Chamber of Commerce on Wednesday to discuss ways to boost trade between South Korean and Taiwanese companies. A total of 122 companies, including 27 Korean and 95 Taiwanese companies, participated in the event, called the Korea-Taiwan Import and Export Conference held at the Taipei International Convention Center in the capital of Taiwan. A total of 207 consultations we

South Korea wishes to expand cooperation with the World Bank by sharing its expertise in the climate and digital sectors, the finance minister said Wednesday. "Korea's expertise in the climate and digital sectors can help developing countries against the challenges they face," Finance Minister Choo Kyung-ho said during an event marking the 10th anniversary of the bank's office in South Korea. "I believe Korea's resources in these areas can help the Korea Office beco

South Korea's state pension operator saw its returns fall to a record low level in 2022, data showed Tuesday, due to the instability in the global financial market amid monetary tightening moves. The National Pension Service logged negative returns of 8.28 percent in 2022, marking the lowest level since it was launched in 1988, according to the Ministry of Economy and Finance. "(The negative returns) were affected by the jitters in the global financial market sparked by the US rate hik

South Korean stocks opened higher Tuesday on the back of gains in big-cap tech and chemical shares. The benchmark Korea Composite Stock Price Index added 9.37 points, or 0.37 percent, to 2,556.45 in the first 15 minutes of trading. Overnight, US shares ended mixed as investors were awaiting the development regarding talks on a debt ceiling deal to avert a federal default. The Dow Jones Industrial Average lost 0.42 percent, while the tech-heavy Nasdaq Composite rose 0.5 percent. US House Speaker

South Korea's inflation expectations fell to the lowest in a year in May on a slide in prices of petrochemical goods, a central bank survey showed Tuesday. Ordinary people expected consumer prices to rise 3.7 percent for the year ahead, down 0.2 percentage point from what was surveyed a month earlier, according to the poll conducted by the Bank of Korea. The reading marks the lowest since May last year, when the comparable figure was 3.3 percent, the central bank said. The downturn came as

South Korea’s finance minister said Monday the government will improve the financial status of debt-laden public energy companies by raising rates to an acceptable level next year. Finance Minister Choo Kyung-ho made the remarks at a meeting of the National Assembly’s Strategy and Finance Committee. “It will take time for public energy companies to retrieve accounts receivable and make a turnaround. Experts expect Korea Electric Power Corp. (KEPCO) to swing to an operating pr