South Korean policymakers have painted a rosy picture on the economy for the fifth consecutive month, but a number of think tanks have raised concerns about weakness in core growth engines.In its latest monthly report published on Tuesday, the Finance Ministry said the positive signals for an economic recovery are expanding despite external uncertainties, such as the Korean won’s record strength against the Japanese yen and the protracted slowdown in the global economy.It also stressed that “the

South Korean stocks closed marginally lower Tuesday as investor sentiment was dented by renewed fears over Greece's inability to pay back debts, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index shed 0.61 points, or 0.03 percent, to finish at 2,096.77. Trading volume was moderate at 387.3 million shares worth 4.93 trillion won ($4.5 billion) with decliners outpacing gainers 443 to 356. Analysts said although European finance ministers

South Korea's major economic indicators are showing signs of slow improvement, signaling the economy is pulling out of a funk during the fourth quarter of last year, the finance ministry said Tuesday.The ministry, however, cautioned that Asia's fourth-largest economy remains gripped by such external uncertainties as a weak Japanese currency and a delay in the recovery of major economies."Overall, economic indicators such as industrial output, consumption and construction investment are improving

South Korea's trade balance from intellectual property remained in the red in 2014, but the deficit narrowed from a year ago, buoyed by improved trade of copyrights of music, video and computer programs, data showed Tuesday.Asia's fourth-largest economy logged a trade deficit of $6.2 billion in the intellectual property sector last year, compared with a $8.1 billion deficit in 2013, according to the data by the Bank of Korea and the Korean Intellectual Property Office.The biggest deficit was see

South Korean stocks closed 0.57 percent higher Monday, as another rate cut in China and a strong U.S. job market whetted investor appetite, analysts said. The local currency lost ground against the U.S. dollar. The Korea Composite Stock Price Index rose 11.86 points to finish at 2,097.38, snapping a three-day losing streak. Trading volume was moderate at 326.9 million shares worth 4.97 trillion won ($4.57 billion) with gainers far outstripping decliners 564 to 232. Analysts said the additional r

South Korean President Park Geun-hye announced a plan Monday to take advantage of big data to create new business opportunities as she launched a new innovation center."Big data is a new capital of the creative economy," Park said in the opening ceremony of the latest innovation center in Chuncheon, some 85 kilometers east of Seoul, in Gangwon Province.Park's signature creative economy vision calls for boosting the economy and creating jobs by turning creative ideas into real businesses through

South Korean banks' first-quarter earnings jumped 61.7 percent from a year earlier on increased non-interest income, the financial watchdog said Monday.The combined net profit of 18 local lenders stood at 2.1 trillion won ($1.9 billion) in the January-March period, compared with 1.3 trillion won the previous year, according to the Financial Supervisory Service.The strong bottom line came as their non-interest income more than tripled to 1.8 trillion won in the first quarter from 500 billion won

South Korea's central bank is expected to freeze its benchmark interest rate for a second month in May as it continues to monitor major indicators of Asia's fourth-largest economy, a poll showed Monday.A whopping 12 out of 13 analysts and economists surveyed by Yonhap Infomax, the financial news arm of Yonhap News Agency, forecast the Bank of Korea will hold the base rate steady at a record low of 1.75 percent at its policy meeting on Friday.Last month, the central bank left the key rate unchang

South Korea, Japan and China will hold a fresh round of negotiations this week for a three-way free trade agreement with the countries seeking a breakthrough for a high-level trade pact, the South Korean government said Monday.The talks, to be held in Seoul from Tuesday to Wednesday, will be the seventh of their kind since the three countries launched the negotiations in November 2012, according to the Ministry of Trade, Industry and Energy.However, the upcoming round will be the first of its ki

South Korea plans to announce a package of measures next month to counter a slowdown in its exports, a main driver of the country's economic growth, officials said Sunday.The move comes as overseas shipments lost further ground last month. Asia's fourth-largest economy reported an 8.1 percent on-year fall in outbound shipments in April, worsening from a 4.3 percent on-year drop in March.Officials said the finance ministry, together with other government ministries and state think tanks, has star

Shares of AmorePacific Co., South Korea's top cosmetics maker, closed lower on Friday as investors locked in profits upon its market comeback after a 10-day trading suspension for its 10-for-1 stock split.Trading of Amore's shares has been put on hold since April 21 to prepare for lowering the face value of its common stocks from 5,000 won ($4.57) to 500 won, which increased the number of shares in circulation by tenfold. Its shares began trading at 386,000 won in the main KOSPI market, but they

The number of newly registered foreign cars in South Korea grew 8.9 in April from a year earlier, driven mostly by German brands, including Mercedes-Benz and BMW, industry data showed Friday.According to the data by the Korea Automobile Importers and Distributors Association, a total of 18,202 foreign vehicles were newly registered in the country last month, up from the previous year's 16,712 units.The latest figure raised the cumulative registration for the January-April period to 77,171, a 26.

Foreign currency-denominated deposits at banks in South Korea reached an eight-month high in April, buoyed by a rise in both U.S. dollar and Chinese yuan deposits, data showed Friday.Foreign currency deposits held by residents reached $68 billion last month, nearing a record $68.6 billion posted in August last year, according to the Bank of Korea. It increased by $5.3 billion from a month earlier.Only deposits that were made by local citizens, foreign companies and foreigners who have stayed her

South Korean stocks fell to the lowest level in four weeks Thursday as a sharp rise in German government bond yields is feared to trigger a sell-off in the local equity market, analysts said. The local currency lost ground against the U.S. dollar.The Korea Composite Stock Price Index closed down 13.58 points, or 0.65 percent, to 2,091.00, the lowest level since April 10, when the index finished at 2,087.76. Trading volume was moderate at 419.5 million shares worth 5.38 trillion won ($4.93 billio