South Korea will focus on fueling economic recovery momentum in 2016 and strive to push forward meaningful reforms as it moves past a disappointing year full of difficult challenges, the government said Wednesday.  In its 2016 economic directives, the finance ministry made clear it will push forward policies that can prop up growth in the short term and improve the overall competitiveness of Asia's fourth largest economy down the line.   It said 2016 will also be the year that reform measures pu

South Korean stocks got off to a strong start Wednesday on hopes that uncertainties tied to the U.S. rate hike will soon be eased.  The benchmark Korea Composite Stock Price Index added 26.5 points, or 1.37 percent, to 1,959.47 in the first 15 minutes of trading.  The Federal Open Market Committee kicked off its two-day meeting on Tuesday (U.S. time), which is expected to end the near-zero borrowing costs after nearly a decade. The results are to be available on Wednesday.   On the back of expec

South Korea's unemployment rate stayed pat in November compared with the month before as gains in the manufacturing and hospitality sectors were offset by losses in the agrofisheries and retail segments, a government report showed Wednesday.  According to the report by Statistics Korea, the rate stood at 3.1 percent last month, unchanged from October and the year before.  The seasonally adjusted unemployment rate for last month reached 3.4 percent, also flat from the 3.4 percent figure tallied f

South Korea posted a trade surplus for the 46th month in a row in November as imports dropped at a much faster pace than exports, customs data showed Tuesday.  According to data from the Korea Customs Service, the country's trade surplus reached a record high of $10.32 billion last month, up nearly two-fold from the $5.26 billion reported a year earlier. The total was also up sharply from the $6.6 billion reported for October.  Exports were down 4.8 percent on-year to $44.38 billion last month,

Asian stock markets were mostly lower Monday following Wall Street's losses as investors awaited the U.S. Federal Reserve's decision this week on raising interest rates for the first time the financial crisis.  KEEPING SCORE: Tokyo's Nikkei 225 sank 1.9 percent to 18,869.25 and Hong Kong's Hang Seng lost 0.8 percent to 21,285.92 The Shanghai Composite Index bucked the regional trend, rising 0.5 percent to 3,453.29. Australia's S&P/ASX 200 retreated 1.4 percent to 4,957.80 and South Korea's Kospi

South Korea is calling for the creation of a global financial market safety net and improvements in the macroeconomic health of countries at the Group of Twenty deputies meeting in China, the government said Monday.  The two-day gathering being held in Sanya on Hainan Island, marks the first meeting of representatives from the world's 20 key systemically important industrialized and developing economies, after Beijing assumed the rotating chairmanship, the finance ministry said.  The working-lev

South Korea's home rental transactions contracted 6.1 percent on-month in November mainly due to a drop in seasonal demand, the government said Monday.   In the one-month period, the number of home rental transactions reached 115,138 units, down from 122,617 transactions in October, the Ministry of Land, Infrastructure and Transport said.  Compared with a year earlier, monthly transactions inched up 1.5 percent from 113,451 units.  Data showed that in the 11 months of this year, transaction numb

Stock bourse operators of South Korea and Taiwan have signed a tentative deal to cooperate in the exchange traded funds area, Seoul officials said Sunday.  An ETF refers to an investment fund traded on stock exchanges and represents a basket of stocks that reflects an index, which provides retail investors and institutions with a more liquid and risk-hedging tool.  The Korea Exchange, South Korea's stock bourse operator, said that it signed a memorandum of understanding with its Taiwanese counte

More than half of business leaders in South Korea are seeking "belt-tightening" management next year amid gloomy outlooks for overall economic conditions, a poll showed Sunday.  According to the poll of CEOs of 235 businesses by the Korea Employers Federation, a business lobby, 52.3 percent answered they will carry out the belt-tightening management next year.   Of those polled, 32 percent said that they will maintain the "status quo," while only 17.4 percent answered that their management will

South Korea's exports will likely grow at a slower pace than the global average for the second straight year in 2015, a state-run think tank said Sunday, pointing to unfavorable overseas market conditions facing many Korean companies.  According to the Korea Development Institute, South Korea's exports in terms of volume are expected to remain unchanged from a year earlier.   This will be lower than the 3.2 percent gain that the International Monetary Fund is projecting for this year.  It would

South Korean stocks fell 0.18 percent Friday as investors remained cautious ahead of the U.S. Fed's upcoming rate-setting meeting. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 3.45 points to 1,948.62. Trade volume was thin at 375.12 million shares worth 4.08 trillion won ($3.46 billion), with losers outnumbering winners 467 to 343."The market did not move much with the absence of major players. Before next week's major events such as the Fe