South Korean stocks extended gains late Wednesday morning on a rebound in tech and telecom stocks. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 18.45 points, or 0.86 percent, to 2,167.60 as of 11:20 a.m. Foreign and institutional investors bought a combined 123.4 billion won ($108 million) worth of stocks, while individuals shed 115.26 billion won...

South Korea increased fiscal spending on infrastructure-building projects in the first three months of the year contributed to the creation of more jobs, the finance ministry here said Friday. The government spent 14.9 trillion won carrying out social overhead capital projects in the January-March period, up 200 million won from its earlier plan, according to the Ministry of Strategy and Finance...

South Korea's top financial regulator on Friday called for heads of banks to play a "responsible role" in normalizing Daewoo Shipbuilding & Marine Engineering Co., as the bailout plan for the troubled shipbuilder was cleared by its stakeholders. Zhin Woong-seob, governor of the Financial Supervisory Service, also asked banks not to aggressively collect debt from shipbuilders and their subcontrac...

South Korean stocks opened higher Friday, tracking gains on Wall Street and ahead of major companies' first-quarter earnings reports. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 12.45 points, or 0.58 percent, to 2,161.60 in the first 15 minutes of trading. The Dow Jones Industrial Average rose 0.85 percent on strong corporate earnings result...

KB Financial Group, the second-largest banking group in net assets, posted 870.1 billion won ($763.7 million) of net profit in the first quarter, a 59.7 percent rise on-year, according to the group’s earnings report Thursday. The net profit of the holding company, which operates financial units including Kookmin Bank, the second-largest commercial lender in market cap, skyrocketed 91.7 percent c...

The Financial Services Commission of Korea announced Thursday it would ease regulations for lenders in streamlining the debt restructuring of financially troubled firms. By revising the enforcement ordinance of the Financial Holding Companies Act, lenders will be more easily able to exclude debt-ridden firms under their receiverships from their subsidiaries in the process of converting debt into...

South Korean stocks closed higher Thursday as institutions scooped up stocks on bargain hunting. The won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 10.75 points, or 0.50 percent, to close at 2,149.15. Trade volume was moderate at 262.01 million shares worth 4.91 trillion won ($4.3 billion), with gainers outnumbering losers 445 to 329. Institutional and foreign...

Shinhan Financial Group said its net profit rose to 997.1 billion won in the first quarter this year, a 29 percent gain from a year earlier, mainly due to improved net interest margins and reduced general and administrative expenses. The nation’s largest financials having banking, credit card, insurance and other financial units said its first-quarter net profit this year was the largest since t...

South Korea’s financial regulator said Thursday it planned to allow borrowers who cannot repay debts due to a job loss or the death of a relative, to suspend the repayment of the principal for up to three years. The Financial Services Commission announced a set of measures to help alleviate the debt burdens of vulnerable households after releasing new data on household debt. The growth of house...

Daewoo Shipbuilding & Marine Engineering filed a petition with the Changwon District Court on Thursday, seeking approval for its 2.9 trillion won ($2.5 billion) bailout plan. If DSME’s mass debt-restructuring proposal is approved, the cash-strapped shipbuilding firm will receive 2.9 trillion won in liquidity from its major creditors, including the Korea Development Bank and the Export-Import Ban...

The Bank of Korea on Thursday launched a pilot program with major distribution giants to push forward its long-term goal of creating a coinless society in Korea by 2020. By partnering convenience store chains, department stores and supermarkets nationwide, the BOK is encouraging consumers to use their change from purchases for electronic prepayments. Participating store operators include CU, 7-E...

The volatility in the dollar-won exchange rates slightly increased in the first quarter from the previous three-month period as the US greenback weakened this year, central bank data showed Thursday. The average daily variation, showing the change from the previous session's closing price, came to 5.7 won in the January-March period, up from 4.9 won in the previous quarter, according to the Bank...

South Korean stocks turned higher late Wednesday as foreigners and institutions went bargain hunting. The won fell against the US dollar. The benchmark Korea Composite Stock Price Index advanced 8.75 points, or 0.41 percent, to 2,147.15 as of 11:20 a.m. Foreign and institutional investors bought a combined 114.84 billion won ($100.56 million) worth of stocks, while individuals sold stocks valu...

China Ocean Resources Co., a Hong Kong-based deep-sea fisheries company, is on the verge of being delisted from the South Korean stock market due to its false financial disclosures. If China Ocean Resources is dropped, it will become the latest Chinese firm that is booted from the local bourse after grappling with lower valuations and a lack of investor confidence. A total of 22 Chinese compani...

South Korean stocks opened lower Thursday, tracking losses on Wall Street, ahead of major companies' first-quarter earnings releases. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 1.65 points, or 0.08 percent, to 2,136.75 in the first 15 minutes of trading. Investors took to the sidelines as major companies such as Samsung Electronics and Hyunda...