South Korean shares rose almost 1 percent on Tuesday, buoyed by optimism that the global stock market may log a further rise on the back of improving earnings, analysts said. The local currency fell to its lowest in two months against the U.S. dollar, lending support to local exporters.The benchmark Korea Composite Stock Price Index gained 18.84 points to 2,012.72, after rising to as high as 2,015.54.Trading volume was moderate at 356 million shares worth 4.04 trillion won ($3.93 billion), with

The number of senior citizens in South Korea grew on-year in 2014, with more older people seeking employment to help support their families, a government report said Tuesday.The number of senior citizens aged 55-79 totaled 11.38 million this year, up 4.2 percent, or 461,000, from a year earlier, according to the report by Statistics Korea. Of the total, 55.1 percent of the senior population was engaged in economic activities, up 1.1 percentage points from a year earlier, the report showed. Over

Housing prices in South Korea are picking up slowly, as the new finance minister nominee says he will consider changes to help prospective homebuyers. The average house prices across the country rose by 0.9 percent in the first half of 2014, after a 0.2 percent drop in 2013, according to data compiled by KB Kookmin Bank.Mortgages taken out by homebuyers are also growing, indicating a rebound in the country’s real estate market, industry watchers said. Industry data showed that mortgage loans iss

South Korea’s international investment position may turn positive for the first time in the next one or two years as Asia’s fourth-largest economy continues its current account surplus streak, a central bank report showed Monday.The Korean economy, with a net external debt of $4.3 billion as of end-March, is likely to see its net international investment position shift to the black as its debt size is trending lower following the global financial crisis, according to the report by Bank of Korea

Dividend payouts by South Korean listed firms are expected to remain low this year compared with their foreign rivals, although their average dividend yield ratio may creep up from last year, industry data showed Monday.The average dividend yield ratio of listed firms that trade on the country’s main bourse is estimated at 1.25 percent for the year, compared with last year’s 1.18 percent, according to the data.The dividend yield ratio refers to a company’s annual dividend payments per share divi

South Korea ranked 14th worldwide in terms of nominal gross domestic product for a fifth straight year in 2013, according to the country’s central bank Sunday.South Korea’s GDP was valued at $1.3 trillion in 2013, remaining unchanged since 2009. In 2005, Asia’s fourth-largest economy had ranked 10th, but tumbled to 15th in 2008 during the global economic crisis.GDP is the broadest measure of an economy’s performance, and it indicates the total value of goods and services produced within the econ

South Korea’s export growth will likely drop in the third quarter due to unfavorable exchange rates and the flare-up in violence in Iraq, a poll conducted by a state-run trade promotion agency said Sunday.According to the survey by the Korea Trade-Investment Promotion Agency, its leading export index for the July-September period came to 51.3 points, down 0.6 from the 51.9 points predicted for the second quarter.A reading above 50 translates into more exports, while numbers that fall short of th

Antidumping and safeguard actions taken by foreign governments are seriously hurting South Korean exporters, which requires close attention, a report by a local trade promotion association said Thursday.According to the Korea International Trade Association’s latest 2014 trade restrictions report, the maximum value of locally made products that are being penalized for unfairly undercutting prices topped $12 billion annually in the 2011-2013 period.In a detailed analysis of the 94 key products sl

South Korea's central bank on Thursday lowered its economic growth and inflation outlook for the year by 0.2 percentage point each, factoring in the impact of the Sewol ferry disaster that pummeled consumer and business sentiment in Asia's fourth-largest economy.The Bank of Korea (BOK) cut its growth forecast for the year to 3.8 percent from 4 percent, while trimming its growth outlook for next year to 4 percent from 4.2 percent. The previous estimates were released in April."The downward revisi

South Korea's central bank on Thursday froze the policy interest rate at 2.5 percent for a 14th straight month, shrugging off a minority voice that forecast a rate cut as the confirmation of a pro-growth finance minister nominee is underway.The decision by the monetary policy committee of the Bank of Korea (BOK) is in line with a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency. A majority of 21 of 22 analysts projected the central bank to hold the rate as economic

South Korean stocks inched down 0.31 percent on Wednesday as foreign investors turned net sellers in nine sessions at the start of corporate earnings season, analysts said. The local currency declined against the U.S. greenback.The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.16 points to 2,000.50. Trading volume was moderate at 267 million shares worth 3.7 trillion won ($3.66 billion), with decliners outnumbering gainers 430 to 387.“Foreigners retreated from the Korean market as U

South Korea’s top 10 conglomerates saw their stock market capitalization edge down this year, as market heavyweights such as Samsung Electronics Co. and POSCO remained lackluster amid a bearish run on the local stock market, industry data showed on Wednesday.The combined market capitalization of affiliates under their wings stood at 726 trillion won ($717 billion) as of Thursday, down 0.63 percent from the start of this year, according to the data.The decline was largely attributed to a slump in