South Korea posted a current account surplus in September, swinging from the previous month's shortfall, but it was much smaller than a year earlier as import bills remained high and outbound travel grew due to eased pandemic-related curbs, central bank data showed Tuesday. The country's current account surplus came to $1.61 billion in September, compared with a deficit of a revised $3.05 billio...

South Korea’s financial watchdog said Monday preparations are underway to deal with shrinking liquidity but the recent signs of credit strains are not a prelude to a full-blown crisis, such as the 1997 Asian financial crisis or the 2008 global financial crisis. A default reported by a state-backed local developer in early October had led to signs of a decline in liquidity in the bond and short-t...

SEJONG -- The chief of Korea’s tax administrative agency said Monday that the transition to a non-face-to-face economy during the COVID-19 pandemic further increased the importance of digital-based tax administration. National Tax Service Commissioner Kim Chang-ki stressed the digitization of tax administration during the second South Korea-South and Central Americas Digital Tax Administration F...

South Korean stocks opened higher Monday on strong advances by tech and auto heavyweights. The benchmark Korea Composite Stock Price Index had increased 14.59 points, or 0.62 percent, to 2,363.02 points as of 9:15 a.m. Tech and auto giants led the KOSPI's hike after a media report that the chair of Boeing Co. met with top officials of Samsung Electronics, Hyundai Motor Group and Hanwha Solution...

Over 80 percent of S. Koreans say cost of dining out increased, seperate survey shows

NTS has informed 2.25m individual services providers of W274.4b tax refunds unclaimed as part of agency's 'proactive governance' approach

Hana Financial Group Chairman Ham Young-joo met Friday with Henry Fernandez, chairman of the US financial firm Morgan Stanley Capital International, at Hana Financial Group's headquarters in central Seoul to discuss climate change response as well as environment, social and governance management. At the meeting, Ham introduced Hana Financial Group's ESG management efforts and its future plans to...

SEJONG -- The nation’s top economic policymaker on Friday unveiled plans to help facilitate investments in cash-strapped startups, suggesting hefty tax benefits for both corporate and individual investors. At a ministerial meeting in Seoul, Deputy Prime Minister and Finance Minister Choo Kyung-ho pointed to the situation whereby the private sector’s investments in startups have contracted in the...

A Hana Bank Counterfeit Notes Response Center official examines a $100 bill on Thursday at the center located in Jung-gu, central Seoul. As the Korean won weakens against the US doller, South Korea's foreign exchange reserves shrank for the third consecutive month in October to $414.01 billion, down by $2.76 billion since September.

South Korea’s financial authorities said Thursday they would closely monitor for any signs of increasing volatility in the financial markets following a big US rate hike -- the fourth consecutive 75-point increase since June amid persistent inflation. “Uncertainties are certainly growing and we’ll be extra vigilant in our response to what may come in our way,” Finance Minister Choo Kyung-ho said...

'News Sentiment Index' tumbles on rate hikes, weak Korean won

Gas, electric charges hit record-high in October

Seoul stocks opened lower Wednesday, taking a cue from overnight falls on Wall Street, as the US Federal Reserve is set to hold its interest-setting meeting. The benchmark Korea Composite Stock Price Index fell 8.8 points, or 0.38 percent, to 2,326.42 in the first 15 minutes of trading. US stocks closed lower as a surprising rebound in US job opening data dashed investors' hopes the central ban...

The leaders of South Korea’s five banking giants on Tuesday agreed to provide 95 trillion won ($67 billion) in liquidity by year-end to shore up local financial markets, rocked by a recent credit default, in what many see as a response to the government’s request for the financial groups’ support. Early in October, a state-backed local developer missed a bond payment, freezing bond and short-ter...

Seoul shares spiked by nearly 2 percent Tuesday on the back of a sharp rise in tech and chemical stocks ahead of the US Federal Reserve's policy meeting this week. The local currency rose against the US dollar. The Korea Composite Stock Price Index surged 41.61 points, or 1.81 percent, to 2,335.22. Trading volume was high at 586.7 billion shares worth 9.3 trillion won ($6.6 billion), with gaine...