South Korean stocks fell 0.32 percent Monday as investors took a wait-and-see approach on the United States Federal Open Market Committee (FOMC) meeting slated for this week, analysts said. The local currency gained against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 6.14 points to close at 1,883.10. Trading volume was low at 258.6million shares worth 3.19 trillion won (US$2.83 billion) with losers outpacing gainers 594 to 221.   On Thursday, the index fell be

South Korean stocks traded almost flat late Monday morning as investors took a wait-and-see approach on the Federal Open Market Committee meeting scheduled this week, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.36 points, or 0.02 percent, to 1,889.60 as of 11:20 a.m.    Builders traded bearish, with Hyundai Engineering & Construction falling 0.83 percent and Daewoo Engineering & Construction losing 0.77 percent. Daelim Industrial moved down 1.61 percent.   I

South Korean stocks opened higher Monday fueled by gains in blue chip exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 7.54 points, or 0.4 percent, to 1,896.78 in the first 15 minutes of trading.Tech shares gathered ground, with market behemoth Samsung Electronics adding 0.51 percent and its smaller rival LG Electronics gaining 0.27 percent. Top steelmaker POSCO gained 0.32 percent.Carmakers also traded bullish, with No. 1 player Hyundai Motor rising 0.51

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Dell Korea on Sunday said it will launch a new software-defined-network solution this week called the Dell “Active Fabric manager” which provides management and operational control of a converged network.The solution has already been unveiled globally, and is awaiting its launch in Korea. The Active Fabric Manager from Dell is said to be an industry-innovating software tool that automates tasks associated with planning, designing, building and monitoring fabrics to help cut infrastructure operat

South Korean commercial banks will kick off their debt restructuring programs for the so-called “house poor,” who are unable to pay off their debts, including mortgages, starting on Monday. Under the plan named “pre-workout,” the banks will extend the repayment period for borrowers with fewer than 90 days of delinquency to up to 35 years, industry sources said Sunday. However, borrowers whose properties are under legal dispute can not apply for the program. Borrowers who filed for a personal fin

The reactivation of the suspended nuclear reactors will take longer than the four months predicted by the government, elevating concerns about the nation’s electricity shortage, according to nuclear experts.The Korea Institute of Nuclear Safety recently reviewed the inspection period for the suspended Shin-Wolsong Reactor 1, extending it by two months from early August to mid-October, according to officials.The 1 million-kilowatt reactor was suspended late last month after it was revealed that a

South Korea’s financial watchdog is considering a special audit of GS Engineering & Construction Co., the fourth-largest builder, over an accounting fraud allegation, an industry official said Sunday. “We are reviewing whether the special audit on GS is needed or not as a petition for an audit on GS by a civic group has been accepted,” the official at The Financial Supervisory Service said on condition of anonymity. “After confirming the details related to the allegation of GS’s accounting fraud

Lotte Shopping Co., South Korea’s top department store chain operator, said Sunday that it has ranked third among global department stores on Forbes’ annual Global 2000 list of the biggest publicly traded companies, up one notch from last year. France’s PPR SA ranks as the world’s biggest department store, followed by Macy’s of the United States.However, Lotte took the top ranking among Asian department stores. The U.S. economic magazine announced the list in terms of assets, sales, net profit a

South Korea’s stock market is expected to rebound this week as concerns over a possible tapering-off of credit easing measures by the U.S. and other major economies relax, analysts said.The country’s key stock index, the KOSPI, lost 34.61 points, or 1.8 percent, this week to close at 1,889.24. Foreign investors dumped a net 2.4 trillion won ($2.1 billion) worth of local shares this week on concerns that the U.S. Federal Reserve may scale back its quantitative easing.In the past few sessions the