Escalating geopolitical risks surrounding North Korea's nuclear and ballistic missile programs have caused gold prices to soar in South Korea and led to a surge in trade in the precious metal, the local exchange said Sunday. According to the Korea Exchange, a gram of gold changed hands at 47,210 won ($41.20) on Friday, the highest level since April 20, when speculation of a crisis on the peninsu...

Sales of gold bars, regarded as a safe haven for investors, are increasing in South Korea amid escalating tension with North Korea, industry sources said Saturday. The Korea Gold Exchange, a local trader, said the average daily sales of 100-gram gold bars reached 250 units since Wednesday, rising sharply from 50 units on average. Industry watchers said the demand for smaller gold bars is increa...

South Korean shares are expected to move in a tight range next week as escalating war rhetoric between North Korea and the United States could continue to weigh in the main index, analysts said Saturday. Cape Investment & Securities said it expected the benchmark Korea Composite Stock Price Index to trade at the 2,300-2,360 range next week. The broader index closed at 2,319.71 points on Friday, ...

Despite recently tightened restrictions on mortgage loans as part of the Moon administration’s anti-speculation measures, the total loan balance for major banks continued to rise, albeit slightly, with borrowers turning to credit loans instead. During the week following the real estate policy announcement on Aug. 2, the daily average of mortgage loans filed at the top four banks -- KB Kookmin, S...

Mirae Asset Daewoo, a leading asset manager here, will establish a brokerage business in India as early as within the year. The company appointed Ryu Han-suk, a manager from its Indonesian operation, as the head of the incoming entity in India, according to officials. “The goal is to establish the Indian branch this year and to kick off business early next year,” said an official of the company...

South Korea’s government and central bank expressed concerns over increasing market volatility sparked by the unfolding conflict between the United States and North Korea, while stock market analysts attributed the latest decline to foreign investors’ profit-seeking. On Friday, the first-tier Kospi market closed at 2,319.71, after a 1.69 percent dip from Thursday, while the tech-heavy Kosdaq div...

The governor of South Korea's central bank said Thursday that he has been closely watching North Korea risks as Pyongyang and Washington traded harsh rhetoric. BOK Gov. Lee Ju-yeol said he remained alert on economic and financial fallout the latest standoff over North Korea's nuclear and missile program could have on Asia's fourth-largest economy. Lee made the comments in an opening ceremony of...

South Korea’s stock markets and currency remained weak for the second consecutive day Thursday, amid escalating political tension on the Korean Peninsula. The first-tier market’s composite index Kospi closed at 2,359.47, down 0.38 percent from Wednesday, while the tech-heavy Kosdaq dropped 0.44 percent. The Kospi extended its three-day losing streak, while the Kosdaq tumbled for two consecutive ...

South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.92 points, or 0.38 percent, to 2,359.47. Foreigners and retail investors offloaded shares worth more than 286 billion won ($250 mi...

Asiana Airlines Inc. said Thursday its losses widened in the second quarter from a year earlier due to foreign currency-related losses. Net loss reached 74.7 billion won ($65.3 million) in the April-June period, compared to a loss of 26.7 billion won a year earlier, the company said in a statement. Operating income, on the other hand, surged 49 percent on-year to reach 42.8 billion won, with sa...

Retail sales on the southern island of Jeju fell in the second quarter for the first time ever on a Sino-Korean row over the deployment of a US missile defense shield, government data showed Thursday. According to the data by Statistics Korea, retail sales on Jeju declined 3.2 percent in the April-June period from a year earlier. It represents the first on-year decline since the statistical age...

South Korea's antitrust watchdog said Thursday that it has imposed a combined 796 million won ($699,000) in fines on two local electronics part suppliers for rigging bids for public railway construction projects. The two companies -- Yookyung Control Co. and Hyukshin Engineering Co. -- allegedly colluded to participate in five bids to supply electronic interlocking equipment arranged by state-ru...

South Korea's central bank said Thursday that it has decided to extend 4.6 trillion won ($4 billion) to small and medium-sized firms through commercial lenders in the latest move to boost potential growth numbers. The monetary policy board of the Bank of Korea said 3.6 trillion won will be provided to small and medium enterprises that are seeking to find new growth drivers and contribute to job ...

South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index. The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m. The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent. Ryu ...

A total of 378 imported commercial vehicles, mostly trucks, were sold in South Korea last month, down 11.1 percent from the previous month, industry data showed Thursday. According to the data compiled by the Korea Automobile Importers and Distributors Association, Volvo topped the list with a total of 137 trucks sold, followed by 105 vehicles from MAN, 83 from Scania, 40 from Mercedes-Benz and ...