Organizers of the 2018 PyeongChang Winter Games on Tuesday signed KEB Hana Bank as their main banking partner. The two sides recently wrapped up their negotiations that began in February and announced their deal in a ceremony at KEB Hana Bank's headquarters in central Seoul. The bank will reportedly offer 11 billion won ($9.7 million) in sponsorships, though PyeongChang had earlier said it soug...

Debt sales by South Korean companies dipped 25.4 percent on-month in March, as economic uncertainties limited corporate borrowing, data showed Tuesday. Although South Korea's exports have been showing signs of a moderate recovery, the nation's economy is confronting the prospects of protectionism by the Donald Trump administration and China's apparent economic retaliation over the deployment of ...

South Korean stocks closed higher Monday as institutional buying offset foreign selling amid eased uncertainties following the United States' decision not to designate South Korea as a currency manipulator. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.88 points, or 0.51 percent, to close at 2,145.76. Trade volume was moderate at 255.70 millio...

South Korean stocks extended gains late Monday morning as institutions increased their stock purchases on eased market uncertainties. The won rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.44 points, or 0.40 percent, to 2,143.32 as of 11:20 a.m. "Investor sentiment has improved after the United States has not designated South Korea as a currency manipulator. ...

South Korean stocks opened higher Monday as defensive stocks gained ground. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index gained 6.51 points, or 0.30 percent, to 2,141.39 in the first 15 minutes of trading. Defensive stocks, that are less prone to external changes and provide constant earnings, mostly gained, with South Korea's No. 1 cosmetics compan...

The main creditor bank of Daewoo Shipbuilding & Marine Engineering on Sunday expected a “good result” in talks with a major bondholder that will help the shipyard stay afloat. The state-run Korea Development Bank and the National Pension Service have engaged in talks since late March to find common ground on debt rescheduling measures for the troubled shipbuilder. “We have reached a consensus o...

South Korea's tax burden, which has steadily risen over the years, still remains among the lowest among the group of developed market economies with high income, data showed Sunday. Data by the Paris-based Organization for Economic Cooperation and Development (OECD) showed that the tax burden ratio of Asia's fourth-largest economy stood at 18.5 percent in 2015, which is on par with Slovakia. The...

South Korean stocks closed lower on Friday as investors sought safer assets amid the tension surrounding the Korean Peninsula, analysts said. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 13.73 points, or 0.64 percent, to close at 2,134.88. Trade volume was slim at 343 million shares worth 3.31 trillion won ($2.9 billion), with losers outnumbe...

Foreign currency deposits held by banks operating in South Korea hit a record high in March as exporters deposited their dollar-denominated earnings, central bank data showed Wednesday. Outstanding foreign currency deposits held by local banks, domestic and foreign, reached $70.54 billion in March, up 3.8 percent from $67.94 billion a month earlier, the Bank of Korea said in a statement. Broken...

The government said Friday it will release 6,700 tons of its fisheries stock starting next week to keep prices under control during the fishing prohibition period. The prohibition period began April 1 and will continue to Aug. 11, depending on different types of net fishing. Violators are subject to legal punishment. The Ministry of Oceans and Fisheries said the government will put its fish sto...

South Korean shares traded lower Friday morning as key blue chips continued to lose ground amid geopolitical concerns. The benchmark Korea Composite Stock Price Index dropped 11.35 points, or 0.53 percent, to 2,137.26 as of 11:20 a.m. Top market cap Samsung Electronics decreased 0.94 percent, and LG Electronics plunged 1.44 percent. LG Display shed 0.97 percent. Chemical firms were also among ...

Overseas branches of South Korean banks saw their combined net profit rise 15 percent on year to $650 million in 2016, thanks to a jump in incomes related to stocks and foreign exchange derivatives, government data showed Friday. The combined interest income at 178 overseas branches gained 6.4 percent on year to $1.35 billion, while non-interest income jumped 54.8 percent on year to $724 million...

South Korean stocks opened lower Friday as investors continued to seek after safer assets amid the rising concern over North Korean provocations including a potential nuke test. The benchmark Korea Composite Stock Price Index fell 9.55 points, or 0.44 percent, to 2,139.06 in the first 15 minutes of trading. Tech shares traded bearish, with market behemoth Samsung Electronics losing 0.8 percent ...

Citibank Korea, the South Korean unit of Citigroup Inc., said Thursday it will offer financial services via online channels while closing about 80 percent of its physical branches in South Korea. Citibank, which recently announced a plan to reduce the number of physical branches to 32 from 133 in the country, has said it won't slash staff, despite ongoing restructuring measures. Instead, about ...

South Korean stocks closed higher on Thursday as geopolitical uncertainties both at home and abroad eased to some degree, analysts said. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index advanced 19.70 points, or 0.93 percent, to close at 2,148.61 Trade volume was slim at 331 million shares worth 4.23 trillion won ($3.74 billion), with gainers outnumberin...