South Korea's manufacturing sector and exports are locked is a systemic crisis with companies bracing for uncertain times in the new year, a poll showed Sunday.The survey on the country's 600 largest companies in terms of sales showed 81.6 percent of firms believed economic conditions have deteriorated to serious levels, according to the Federation of Korean Industries (FKI).In contrast, only 17.8 percent said the current situation is a temporary development brought on by various external change

South Korea's overall trade volume has reached over US$1 trillion as of Friday for four straight years, setting course for a record high for the country's annual trade volume, the trade ministry said.As of 1:07 p.m., the country's total exports came to $520.17 billion with imports coming to $479.83 billion, an official from the Ministry of Trade, Industry and Energy told Yonhap."The country has continued to top the $1 trillion mark since 2011, but it had never done so before the start of Decembe

Share turnover for Samsung Group, South Korea's largest conglomerate, jumped as investors acted on the announcements of affiliates sale and a stock buyback plan, accounting for a significant portion of trading in the local stock market, data showed Friday.Samsung Group announced on Wednesday it will sell defense and chemical affiliates for 1.9 trillion won (US$1.72 billion) to shed non-core businesses. After the market closing on the same day, Samsung Electronics Co., the group's flagship unit,

The amount of credit card spending by foreigners in Korea outweighed that by Koreans on overseas trips for the first time, central bank data showed Friday.Credit card spending by foreigners reached US$3.27 billion in the third quarter, up 12.2 percent from three months earlier. In the same period, credit card spending by Koreans on overseas trips rose 7.6 percent on-quarter to $3.2 billion, according to the data by the Bank of Korea.It marked the first time that credit card spending by foreigner

South Korean stocks ended 0.06 percent higher on Thursday after topping the 1990-mark mid-session, led by large gains by market leader Samsung Electronics following its decision to buy back shares, analysts said. The South Korean won gained ground against the greenback.   The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.25 points to 1,982.09. The figure once topped the psychologically important 1990-mark during the morning trade, the highest since Oct. 1.    Trading volume was low

The number of salaried workers in their 50s exceeded those in their 20s for the first time in 2013, data showed Thursday, pointing to tougher employment conditions for younger generations.    According to the data by Statistics Korea, salaried workers in their 50s stood at 3.03 million last year, compared with 3 million for those in their 20s.    This marked the first time that workers in their 50s surpassed those in their 20s since related data started to be compiled in 2011.    Last year, the

The number of filings for personal bailouts in South Korea rose 7.6 percent in the first 10 months of the year from a year earlier and may well reach a new record, an analysis of data indicated Thursday, in what market watchers see as a symptom of mounting household debts.  A total of 93,105 people sought a state-managed bailout during the January-October period, according to court records and financial sources.   The number has been increasing since 2010, from 46,972 that year to 65,171 in 2011

South Korea will ease the stock investment limit for the state postal service agency as part of a comprehensive strategy to help invigorate the slumped local stock market and strengthen the market's role in providing corporate capital, the financial regulator said Wednesday.   Korea Post, one of the country's biggest public funds, will be able to invest in securities with up to 20 percent of its deposited funds, up from the current limit of 10 percent, the Financial Services Commission (FSC) sai

South Korea ranked 15th among the world's industrialized economies, known as the Group of 20 (G20), in clean energy investment last year, according to a report by a U.S. non-governmental organization on Wednesday.  According to the annual report by the Washington-based Pew Charitable Trusts, South Korea invested about US$1 billion (1.1 trillion won) in clean energy in 2013, taking the 15th place among G20 countries.    The country's investment declined 9 percent from the previous year but its ra

South Korea's economic recovery momentum still remains weak as private spending stagnates, a central bank report showed on Wednesday.  While Asia's fourth-largest economy continued to post a modest recovery pace in the past month, consumer sentiment remained feeble and companies are still reluctant to expand facility investment, according to the report by the Bank of Korea (BOK).   "On the demand side, a recovery in domestic demand is weak as consumer sentiment remains feeble... and the corporat

Global investment banks (IBs) forecast that South Korea's economy will advance in the mid 3-percent range next year, data showed Wednesday, lower than growth estimates by the Seoul government and institutions.    Average projections from 34 major IBs show South Korea's gross domestic product (GDP), the broadest measure of economic performance, growing 3.6 percent next year, according to Bloomberg data. Last year, the Korean economy grew 3 percent and was forecast to expand in the mid-3 percent r

South Korea will make structural reform one of its key policy objectives for next year, as it focuses on overhauling the inflexible labor market, the country's top economic policymaker said.     The remarks by Finance Minister Choi Kyung-hwan come as the government prepares its economy management plan for next year.   "The Korean economy is facing tough situations right now, internally with weak consumption and low inflation and externally with the weakening yen and China's move to slash its key

Consumer sentiment in South Korea remained positive but soured to a 14-month low in November, data showed Wednesday, reflecting concerns over Asia's fourth-largest economy caused by a weakening Japanese yen and the intangible effects of government stimulus.   The overall consumer sentiment index (CSI) reached 103 in November, slipping from 105 in the previous month, according to the Bank of Korea (BOK). A reading above 100 means that optimists outnumber pessimists.   The November figure marks th