South Korean shares advanced late Tuesday morning, despite the overnight decline on Wall Street, as institutions' buying offset a selling binge by foreign and retail investors. The benchmark Korea Composite Stock Price Index rose 11.08 points, or 0.47 percent, to 2,368.87 as of 11:20 a.m. Most large caps traded mixed, with market kingpin Samsung Electronics rising 0.13 percent and global chipma...

South Korean securities companies have considerably reduced the number of their overseas branches over the past six years due mainly to their unprofitability, data showed Tuesday. Thirteen local brokerages had a combined 57 overseas branches as of the end of March, compared with 89 branches six years earlier, according to the data from the Financial Supervisory Service and the Korea Financial In...

An anticipated interest rate hike by the Federal Reserve is likely to have little impact on South Korean bonds because the market has already priced in the change, analysts said Tuesday. This week, the Fed is almost certain to increase its key interest rate for the third time in six months, with an additional rate hike eyed in September. Although the Fed has tightened its monetary policy, analy...

South Korea's national tax revenue continued to rise in the first four months of the year bolstered by an increase in corporate and value added taxes, the finance ministry said Tuesday. The government collected a total of 105.3 trillion won ($93.1 billion) in dues in the January-April period, up 8.4 trillion won from a year earlier, according to the Ministry of Strategy and Finance. The amount ...

Global equity funds continued to post net inflows into the South Korean market last week on its recovering economy and improving corporate earnings, industry data showed Tuesday. Four international funds investing in South Korea allocated a combined $210 million for the South Korean equity market in the week to Friday, marking the fifth consecutive month of net inflow, according to the data by M...

South Korean stocks opened higher on Tuesday despite overnight Wall Street losses, analysts said. The benchmark Korea Composite Stock Price Index gained 9.33 points, or 0.4 percent, to 2,163.05 in the first 15 minutes of trading. On Monday (local time), US stocks dropped, with the tech-heavy Nasdaq composite index dropping for a second straight session. Large-cap stocks on the Seoul bourse wer...

A move to tighten South Korea's lending rules to curb household debt could adversely affect the overall economy, a local think tank said Monday. In a report on the impact of lending rules and household debt, the Korea Economic Research Institute warned against stricter regulations involving the debt-to-income ratio as changes will force borrowers spend less and further drag down the already frag...

South Korean stocks ended lower Monday as foreign investors and institutions cashed in recent gains following overnight Wall Street losses, analysts said. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index declined 23.82 points, or 1 percent, to close at 2,357.87. Trade volume was moderate at 324 million shares worth 5.7 trillion won ($5.3 billion), with l...

Stocks related to Alzheimer‘s disease remained high despite a slide in the main bourse index Monday, on the back of President Moon Jae-in’s fresh policy initiative to invest some 2 trillion won ($1.78 billion) in supporting Alzheimer‘s patients. Moon last week vowed to install more state-run clinics for dementia treatment, increase personnel to look after the patients and widen medical coverage ...

South Korea has provided over $50 billion in foreign direct investment to Vietnam, data from Vietnam’s State Capital Investment Corp. showed Monday. The accumulated FDI by South Korean businesses in one of the fastest-growing economy in Asia reached $50.6 billion, spanning 5,773 projects from 1988 to 2016. In 2016, the volume of investment from South Korea reached some $6.9 billion, a 2.53 perc...

The Ministry of Strategy and Finance has drawn up the government’s proposal for next year’s spending on Monday, at a size of 424.5 trillion won, 6 percent larger than that of this year‘s. One of the largest increases of 8.9 percent is to be made on public welfare, health and employment, boosting the spending to 141.1 trillion won. On the other hand, environmental and cultural spending will be c...

The Korean mobile payment market, currently dominated by Samsung Pay, is predicted to heat up as more rivals are considering joining the race. Samsung Electronics’ payment service Samsung Pay, which was launched in August 2015, has now garnered more than 1 million subscribers here. The tech giant is expanding the application to its smartwatch Gear S3 and low-budget smartphones, the Galaxy A and ...

Top economic policymakers of South Korea and India will hold talks later this week to discuss ways to enhance bilateral economic cooperation, the finance ministry here said Monday. In the fifth Seoul-New Delhi finance ministers' meeting to be held on Wednesday in Seoul, South Korea's Kim Dong-yeon and his Indian counterpart Arun Jaitley will share views on current macroeconomic situations facing...