Some 42 trillion won (US$38.8 billion) in short-term mortgage loans will mature next year, data from financial regulators showed Wednesday, raising concerns amid soaring household debts and no sure signs of the real estate market picking up.   Out of 337.7 trillion won in mortgage loans extended by local banks as of end-June, 42.2 trillion won, or 12.5 percent, is due by the end of next year, according to the data compiled by the Financial Supervisory Service (FSS) and the Ministry of Strategy a

Stocks with good earnings records have delivered good returns to investors this year, data showed on Monday, proving that profits are ultimately one of the primary drivers of stock prices. According to the data compiled by the Korea Exchange, the share prices of 250 listed companies that posted on-year growth in their third-quarter net profits have risen 32 percent on average this year through Wednesday.Over the cited period, the country’s benchmark index, the KOSPI, shed 3.27 percent, hit by a

South Korea posted a trade surplus for a 34th straight month in November despite a fall in overseas shipments, customs data showed Monday.According to the data by the Korea Customs Service, the country’s trade surplus came to $5.5 billion last month, down from the all-time high of $7.2 billion registered in October. Exports declined 2.1 percent on-year to $46.9 billion, while imports shrank 4 percent to $41.4 billion.This marked the 34th consecutive month of surplus since February 2012. Overseas

The South Korean economy will likely grow 3.7 percent next year on the back of improving exports and expanding domestic consumption following a recovery in the United States, a think tank said Monday.   The Korea Institute of Finance (KIF) said in a report that the growth rate will hit 3.6 percent in the first six months and 3.9 percent in the latter half of 2015. The think tank's 2014 growth estimate stood at 3.5 percent.   The KIF's 2015 forecast is lower than the central bank's 3.9 percent pr

The number of debtors and their credits from local banks are projected to hit record highs this year amid rising household debts, industry data indicated Monday.   Some 10.5 million people took out loans from commercial banks as of the end of June, data showed, for a total amount of 487.7 trillion won (US$442.6 billion). The figure had peaked at 10.45 million people in 2012 and declined to 10.44 million in 2013.   The loan total translates to individual lenders owing 46.41 million won each on av

The Bank of Korea will consider cutting its growth forecast for next year after keeping its benchmark interest rate unchanged Thursday while it assesses weakness in the domestic and international economies.“It’s difficult for the Bank of Korea to keep its 3.9 percent growth outlook for 2015,” Gov. Lee Ju-yeol told reporters today in Seoul after the central bank held the policy rate at a four-year low of 2 percent. Lee cited weak consumer and business sentiment in Korea and cuts to economic estim

South Korean firms are expected to keep their dividend payouts low this year, with the portion of their payouts against profit far below that of their global peers, data showed on Wednesday.According to Daewoo Securities Co., who compiled the data, South Korean firms are forecast to log a dividend payout ratio of 13.7 percent this year, compared with Taiwanese rivals’ 43.56 percent and Indian firms’ 21.9 percent. The ratio refers to the percentage of earnings a company gives to shareholders in t

South Korea will strengthen infrastructure needed to increase economic cooperation with the Eurasian countries that have a great potential to become a major global economic block, the finance minister said Wednesday. “We will work to establish networks required to enhance inter-connectivity in transportation, logistics, ICT and energy within the region, a move aimed at resolving barriers that companies face due to a lack of infrastructure, high logistical costs and investment uncertainty,” Finan

South Korean stocks closed 1.3 percent lower Wednesday, as investors were unnerved by China’s change of regulations in short-term borrowing to curb excessive leveraging, analysts said. The local currency gained ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index slid 25.39 points, or 1.29 percent to finish at 1,945.56. Trading volume was moderate at 358.9 million shares worth 3.81 trillion won ($3.45 billion) with decliners outstripping gainers, 568 to 236. “It’s hard

Plunging oil prices are welcome news for the overall economy of energy-hungry South Korea by giving companies and consumers extra money to spend, but they will come down hard on already-struggling oil refiners and shipbuilders, market watchers said Wednesday. Oil has taken a beating after the Organization of the Petroleum Exporting (OPEC) countries last week decided not to cut output, letting the price slide further. Dubai crude tumbled to $65.33 a barrel on Monday, the lowest level since Septem

A major state-run think tank on Wednesday revised down South Korea's 2014 and 2015 growth estimates, citing sluggish domestic demand and exports growth restrained by tough overseas market conditions.The Korea Development Institute (KDI) forecast that the Korean economy will grow 3.4 percent this year, down from 3.7 percent it suggested in May. It cut next year's growth projection from 3.8 percent to 3.5 percent, and said even the target may not be met, given the "growing downside risks." The KDI

Home sales in South Korea expanded in November from a year earlier, with the cumulative sales so far this year reaching an 8-year high, government data showed Wednesday.According to the data provided by the Ministry of Land, Infrastructure and Transport, the number of home transactions stood at 91,050 last month, up 7.2 percent from a year earlier. The figure, however, was down 16.8 percent compared with October when home sales spiked, bolstered by the government's property market stimulus measu