South Korean stocks soared on Friday, extending their gains for a third consecutive session on overnight gains on Wall Street and growing expectations of stimulus in the eurozone, analysts said. The South Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.05 points, or 1.05 percent, to 1,924.70. Trading volume was moderate at 305 million shares worth 4.25 trillion won (US$3.89 billion), with gainers beating losers 530 to 283."Samsung's fourth-

Foreign currency-denominated deposits at banks in South Korea slipped in December from the previous month as the value of both U.S. dollar deposits and Chinese yuan deposits fell, data showed Friday.Foreign currency deposits held by residents reached US$61.1 billion as of the end of December, down $2.7 billion from the previous month, according to the Bank of Korea.Residents cover local citizens, foreign companies and foreigners staying here for more than six months. The data excludes inter-bank

The portion of self-employed seniors who have gone bankrupt is trending higher due to excessive competition, data showed Friday, raising alarm as a growing number of babyboomers among them are opting to start their own businesses after retirement.Some 75.3 percent of self-employed businesses that went belly up last year were run by those aged over 50, compared with 70.6 percent in 2011, according to the data by the Korea Financial Telecommunications & Clearings Institute.Of the total, those aged

South Korean stocks traded sharply higher late Friday morning, with most market heavyweights remaining in positive terrain on overnight gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.48 points, or 1.23 percent, to 1,928.13 as of 11:20 a.m.Tech and auto shares led the overall market advance.Top market cap Samsung Electronics climbed 0.3 percent after its estimated fourth-quarter operating income beat market expectations at 5.2 trillion won (US$

The number of orders won by South Korean shipbuilders fell 36 percent last year as global demand for new ships shrank due to a tumble in oil prices, industry data showed Friday.The data by global market researcher Clarkson Research Services said South Korean shipbuilding companies took orders totaling 11.78 million compensated gross tons (CGTs), or 305 ships, ranking it second in the industry for the fifth consecutive year. China retained its top ranking for the same period.The plunge in oil pri

Sales at South Korea's department stores and discount chains continued to shrink from a year earlier in December but at a slower rate, preliminary government data showed Friday.According to the data from the Ministry of Strategy and Finance, discount chain sales dropped 3.6 percent on-year last month while discount chain sales slipped 0.3 percent.This marked the fourth straight month of decline."Department store and discount chain sales continued to shrink, but the rate of the decline slowed fro

South Korea and Japan held regular high-level talks in Seoul Thursday to discuss key bilateral economic issues such as an import ban on Japanese seafood and Tokyo's monetary easing.Ahn Chong-ghee, deputy foreign minister for economic affairs, headed the South Korean side at the 13th South Korea-Japan high-level economy consultative meeting, with the Japanese side represented by Deputy Foreign Minister Yasumasa Nagamine.The two neighbors have regularly held the consultative meeting since its ince

Oil extended gains in Asia Thursday following a drop in US crude stockpiles that indicate stronger demand in the world's biggest economy, but analysts said prices remain under pressure due to a global supply glut.US benchmark West Texas Intermediate for February delivery was up 38 cents at $49.03 a barrel in afternoon trade and Brent crude for February gained 27 cents to $51.42. Brent on Wednesday briefly slipped below $50 for the first time since 2009.Prices got a boost from data showing US sto

South Korea’s top conglomerate Samsung Group said Wednesday its head Lee Kun-hee, recuperating from a heart attack last May, is still undergoing rehabilitation without any marked change in health condition.“The chairman’s health has not seen any significant changes in the new year, and there is nothing to explain,” said Lee Jun, the top communications official of Samsung Group.Lee was rushed to a hospital near his home in Seoul on May 10 after experiencing difficulty breathing and was later conf

The Korean government has imposed fines on four foreign automakers, including German automaker Audi and Chrysler of the United States, for inflating the fuel efficiency of their vehicles sold here, an official said Wednesday.“The government imposed a fine of between 3 million won and 4 million won ($2,720-$3,630) late last year on the four automakers,” an official from the Ministry of Trade, Industry and Energy told Yonhap.The four automakers include Germany’s Volkswagen and BMW.The fines are ba

South Korean stocks slightly rebounded from their 16-month low on Wednesday, aided by gains in autos, utility and tech shares as investors saw recent sell-offs on the local bourse as excessive, analysts said. The South Korean won fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.38 points, or 0.07 percent, to 1,883.83, snapping a seven day loss. Trading volume was moderate at 277 million shares worth 3.69 trillion won (US$3.36 billion), with losers beati

The recent plunge in global oil prices will have a positive impact on the local economy and help boost South Korea's exports, the finance minister said Wednesday, dismissing concerns about deflation and further weakening of demand."There are various analyses about the impact of a cut in oil prices, but it is clearly a huge opportunity for our economy," Choi Kyung-hwan said at an economy-related ministers' meeting in Seoul. "Still, we must gather and utilize the wisdom of all government ministrie