South Korea's exports fell for the fifth consecutive month in February due mainly to weak global demand for semiconductors amid an economic slowdown, the industry ministry said Wednesday. Outbound shipments fell 7.5 percent on-year to $50.1 billion in February, according to the data compiled by the Ministry of Trade, Industry and Energy. Exports have logged an on-year fall since October last ye...

South Korean stocks closed moderately higher Tuesday amid worries the US Federal Reserve's monetary tightening may last for longer than expected. The local currency ended almost flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.21 points, or 0.42 percent to 2,412.85. Trading volume was moderate at 518.1 million shares worth 8.9 trillion won ($6.72 billion) with ...

South Korea's chief economic policymaker on Tuesday called for more attention to the reopening of the Chinese economy in order to address the prolonged downturn in the country's outbound shipments. At a Cabinet meeting, Finance Minister Choo Kyung-ho pointed out challenges facing South Korea, such as high inflation, higher borrowing costs and the strong US dollar amid the war between Russia and ...

South Korean stocks opened higher Tuesday, tracking gains in Wall Street overnight amid speculation that the tight monetary policy by the Federal Reserve may persist for longer than expected. The benchmark Korea Composite Stock Price Index rose 16.01 points, or 0.67 percent, to 2,418.65 in the first 15 minutes of trading. US stocks rebounded Monday as investors hunted for bargains from last wee...

Industrial robots are found to have helped drastically reduce workplace injuries as well as improve the overall wellness of workers in labor-intensive industries, according to a report released by the Bank of Korea on Monday. The report analyzed the industrial impact of robot adoption across industries between 2010 and 2019, especially on the number of workplace injuries. According to the repor...

South Korean stocks got off to a weak start Monday, as stronger-than-expected economic data in the United States fueled worries the Federal Reserve will keep raising interest rates for some time. The benchmark Korea Composite Stock Price Index lost 28.85 points, or 1.19 percent, to 2,394.76 in the first 15 minutes of trading. U.S. personal consumption expenditures for January rose 0.6 percent, ...

Government goes all-out to keep soju prices below psychologically important 6,000 won

The top 0.1 percent of wealthy individuals in South Korea earned nearly 70 times more than the median income earners in 2021, data showed Saturday. Statistics from the National Tax Service cited by Rep. Yang Kyung-sook of the opposition Democratic Party also showed the share of the total income held by the top bracket had increased to 4.8 percent that year from 4.2 percent in 2018. The per capi...

South Korean stocks ended lower Friday on losses in big-cap tech shares amid caution over the United States' monetary policy path amid high inflation. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 15.48 points, or 0.63 percent, to close at 2,423.61. Trading volume was slim at 363.7 million shares worth 6.86 trillion won ($5.26 billion), with ...

The state-run utility Korea Electric Power Corp. said Friday its operating loss more than quintupled on-year to hit a record high last year due to higher fuel costs and limited electricity rate hikes. Its operating loss came to 32.63 trillion won ($25.02 billion) in 2022, compared with 5.85 trillion won a year earlier, the company said in a regulatory filing. It is the largest ever yearly figur...

South Korean stocks opened slightly higher Friday, tracking Wall Street gains, as big-cap tech shares gathered ground. The benchmark Korea Composite Stock Price Index added 6.34 points, or 0.26 percent, to 2,445.43 in the first 15 minutes of trading. Overnight, US shares ended higher following a recent rout amid lingering uncertainties over the United States' monetary policy path to curb inflat...

South Korean stocks finished higher on Thursday as investors got a much-awaited reprieve from consecutive rate hikes by the Bank of Korea. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 21.41 points, or 0.89 percent, to close at 2,439.09. Trading volume was a bit slim at 393.06 million shares worth 7.33 trillion won ($5.65 billion), with gai...

Central bank cuts growth outlook to 1.6 percent from 1.7 percent

The Bank of Korea kept its key interest rate unchanged at 3.5 percent Thursday, putting on hold a rate-raising policy that has lasted 1 1/2 years. The central bank began a series of rate hikes in August 2021 to tamp down soaring prices amid the pandemic recovery. The BOK raised the benchmark interest rate seven consecutive times. The bank’s decision falls in line with market expectations which ...

South Korean stocks opened higher Thursday amid lingering concerns over more interest rate hikes. The benchmark Korea Composite Stock Price Index had gained 18.54 points, or 0.77 percent, to 2,436.22 in the first 15 minutes of trading. The Bank of Korea is scheduled to hold its rate-setting meeting later in the day. It raised its benchmark interest rate by a quarter percentage point in January ...