South Korean shares rose to the highest level in 44 months on Friday as investors took heart over the upbeat outlook of corporate earnings, analysts said. The Korean won lost against the greenback.The benchmark Korea Composite Stock Price Index increased 28.89 points, or 1.4 percent, to end at 2,087.76. Trading volume was heavy at 647.1 million shares worth 5.31 trillion won ($4.85 billion), with gainers surpassing decliners 509 to 313.The intra-day gain was the biggest in nearly three weeks, ra

day Friday as upbeat job data from the United States stoked speculation that the Federal Reserve will raise borrowing costs at a sooner-than-expected date.The local currency closed at 1,092.7 per dollar, down 0.4 won or 0.04 percent, from the previous session's close, after falling as low as 1,097.20 at one point.The number of first-time jobless claims over the past four weeks in the world's largest economy fell to an almost 15-year low, strengthening views that the U.S. economy is witnessing a

Moody's Investor Service on Friday raised South Korea's credit outlook from "stable" to "positive" on improved public debt management by the government.Despite the outlook upgrade, the global credit appraiser maintained the overall rating at Aa3, the fourth-highest in its rating scheme.The key drivers for its action are consistent measures taken by Seoul in the past few years to manage the debt of its public corporations, reduced vulnerability to global market turbulence and Seoul's ongoing trac

South Korea's import of steel products increased in March from a year earlier, buoyed by growing demand from the local construction industry, data showed Friday. The inbound shipment of steel products reached 2.01 million tons last month, up 4.1 percent from the previous year, according to data by the Korea Iron & Steel Association. The country's steel imports fell in January and February, posting a 3.8 percent and 7.3 percent on-year decline, after snapping a 14-month gain streak seen since Oct

South Korea's nuclear watchdog delayed a decision on the operational license of a new nuclear reactor on Thursday as safety concerns remain nearly four months after shutting it down following a deadly toxic gas leak. The state-run Nuclear Safety and Security Commission (NSSC) said it will hold another meeting on April 23 to decide the fate of the Shin Kori-3 reactor, which has been dormant since late December after nitrogen gas was leaked from a construction site, killing three workers.   The 1,

South Korea's central bank on Thursday downgraded its economic growth forecast for 2015, citing the weaker-than-expected recovery pace of Asia's fourth-largest economy.  After freezing the key interest rate at a monthly policy meeting, the Bank of Korea cut its growth forecast for this year to 3.1 percent from an earlier 3.4 percent estimate.  It is the central bank's second revision of the growth prediction in three months. In January, the BOK lowered its growth forecast to 3.4 percent from 3.8

South Korean banks are turning their eyes to overseas markets in a bid to seek new profit sources amid a low interest rate trend, data showed Thursday.  Nonghyup Bank, the banking extension of the National Agricultural Cooperative Federation, said it will open a new overseas operation in India later this year, and is planning to open offices in Hong Kong, Cambodia and the United Arab Emirates in the near future. It already has offices in New York, Beijing and Hanoi.  The country's fourth-largest

Household loan growth at South Korean lenders accelerated in March from a month earlier on a surge in property transactions and solid demand for loans following a March 12 rate cut, central bank data showed Wednesday.  Household loans, which include mortgage lending, extended by local lenders reached 570.6 trillion won ($521.1 billion) as of the end of last month, gaining 4.6 trillion won on-month compared with a 3.7 trillion won gain in February, the preliminary data from the Bank of Korea show

A majority of trade associations in South Korea cited a possible decline in demand caused by slowing economic growth as a reason for concern in their business outlooks this year, a survey showed Wednesday.  According to the survey by the Federation of Korean Industries of 31 business associations representing each sector including steel, automobiles and semiconductors, 23 groups or 74.2 percent said the economic slump and a possible decline in demand are major concerns this year.   Of those surv

A landmark deal on limiting Iran's nuclear program is expected to help South Korean companies make inroads into the key Middle Eastern market, Seoul's economic czar said Tuesday.  The remarks come as a deal can effectively lift the economic sanctions placed on Iran by the global community. Such measures have hurt two-way trade with the populous, oil-rich country.     Chairing a meeting of economy-related ministers in Seoul, Finance Minister Choi Kyung-hwan said the provisional agreement, reached

The portion of men shopping at department stores in South Korea is trending higher, which could make up for a loss of female shoppers who are increasingly turning to online and mobile shopping, data showed Tuesday.  Male customers at nationwide branches of Lotte Department Store, the country's biggest department store operator, represented 27 percent of shoppers this year, up 4 percentage points from the same period five years ago, according to company data.  The data also showed that the latest

The government Tuesday endorsed a bill lifting restrictions on foreign investment in reclaimed land in the country's southwestern region.  The bill exempts foreign enterprises in the Saemangeum area from requirements to hire people with disabilities, veterans and senior citizens.  These businesses also would be qualified to give unpaid vacations to their employees and hire short-term laborers for a longer period of time in wider sectors than usual.  The bill also simplifies the registration proc

South Korea's economy is showing signs of a modest recovery, despite overall economic conditions remaining weak, a state-run think tank said Monday.In its latest report on the economy, the Korea Development Institute said that facility and construction investment have picked up from recent slowdowns on a year-on-year basis.On top of such trends, falling oil prices and interest rate cuts are exerting a positive impact on the economy as a whole, it added."Production-related indicators remain slugg