South Korea’s consumer prices grew at the slowest pace in three months in July due to stable prices of vegetables and livestock, a government report showed Friday.The country’s consumer price index rose 1.6 percent last month from a year earlier, decelerating from June’s 1.7 percent gain. This marked the slowest pace of consumer price growth since April when it rose 1.5 percent. The price increase has remained in the 1 percent range since November when it gained 1.2 percent from a year earlier.

South Korean stocks closed lower Friday as investors sought profit-taking after the benchmark index set new yearly records this week, analysts said. The South Korean won lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 3.02 points, or 0.15 percent, to 2,073.10. Trading volume was low at 266 million shares worth 4.93 trillion won ($4.78 billion), with gainers outpacing losers, 507 to 295.Analysts said the decline came as investors took a breather and locked

South Korea's exports grew from a year ago last month with imports also rising at a similar pace, the government said Friday.Outbound shipments amounted to US$48.42 billion in July, up 5.7 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.Imports rose 5.8 percent on-year to $45.9 billion.The country's trade surplus widened slightly to $2.52 billion from $2.45 billion in July 2013. July also marked the 30th consecutive month the country has posted a tr

South Korea’s imports of energy declined slightly in the second quarter of 2014 from a year earlier, customs data showed Thursday.According to the data by the Korea Customs Service, South Korea imported $34.35 billion worth of energy during the April-June period, down 1.7 percent from the same period a year earlier. The energy imports accounted for 26.3 percent of the country’s total imports, down 1.3 percentage points from a year earlier.The amount of energy imports also fell 1.1 percent over t

South Korean stocks closed higher Wednesday to set another yearly record as investor sentiment was boosted by the government’s latest economic stimulus package, analysts said. The South Korean won slightly rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 20.64 points, or 1 percent, to 2,082.61. Trading volume was moderate at 328 million shares worth 6.13 trillion won ($5.99 billion), with gainers outpacing losers 417 to 384.After breaching the 2,060-poi

The government will inject about 26 trillion won ($25.3 billion) in the form of fiscal measures and policy financing during the remainder of this year to help the slowing economic recovery, the finance minister said Wednesday.“In order to carry out diverse policy measures in a speedy manner, we plan to inject about 26 trillion won (into economic recovery efforts) by strengthening fiscal measures and policy financing,” Choi Kyung-hwan told a meeting with other policymakers. This is a follow-up to

Overseas travel spending soared to a record high in June as South Koreans continued to flock to foreign destinations despite a prolonged slump in domestic demand, central bank data showed Wednesday.Overseas travel spending totaled $1.7 billion in June, growing 23.3 percent from the previous month, according to the Bank of Korea. The figure does not cover traveling for study purposes.The latest data, which is part of the current account, comes only two months after overseas travel spending set a

The International Monetary Fund(IMF) urged South Korea to refrain from stepping into the foreign exchange market in its report released Tuesday, saying the appreciation of the country's currency is caused by its large trade surplus and excessive foreign reserves. In an external sector report based on the policies of 2013 and the first half of 2014, the IMF said, "In some countries (China, Korea), FX (foreign exchange) purchases for non-spot market interventions were deployed in the context of re

The government will inject about 26 trillion won (US$25.3 billion) in the forms of fiscal measures and policy financing during the remainder of this year to help the slowing economic recovery, the finance minister said Wednesday."In order to carry out diverse policy measures in a speedy manner, we plan to inject about 26 trillion won by strengthening fiscal measures and policy financing," Choi Kyung-hwan told a meeting with other policymakers. This is a follow-up on the government's economy mana

South Korea's industrial output grew at the fastest pace in four years and nine months in June, raising expectations that the economic recovery might be gaining some momentum, a government report showed Wednesday. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries expanded 2.9 percent last month from May following a revised 2.8 percent fall tallied a month earlier. This marked the fastest on-month output growth since September 200

Overseas travel spending soared to a record high in June as South Koreans continued to flock to foreign destinations despite a prolonged slump in domestic demand, central bank data showed Wednesday.Overseas travel spending totaled US$1.7 billion in June, growing 23.3 percent from the previous month, according to the Bank of Korea. The figure does not cover traveling for study purposes.The latest data, which is part of the current account, comes only two months after overseas travel spending set

South Korea is pushing to ease or lift the current daily limit imposed on stock price movements as part of efforts to stimulate the country's stock market, a local media report said Wednesday.According to the daily JoongAng Ilbo, who cited sources from financial authorities, the government is pushing to phase out the 15 percent daily limit in stock price fluctuations. It said the government could announce its position later this month or in August in a meeting chaired by President Park Geun-hye.

South Korea’s major companies are disappointed by the long-deferred economic recovery stemming from unfavorable exchange rates and sluggish consumer demand due to the ferry disaster, a poll showed Tuesday.The Business Survey Index came to a six-month low of 91.6 for August, down from 94 for the previous month, according to the poll of the country’s 600 largest companies by sales, conducted by the Federation of Korean Industries.A BSI reading below the benchmark 100 means pessimists outnumber opt