South Korean shares opened higher Friday, extending a rally into a fifth day on eased investors' anxiety about Britain's vote last week to exit the European Union.  The benchmark Korea Composite Stock Price Index rose 13.86 points, or 0.70 percent, to 1,984.21 in the first 15 minutes of trading. After shedding 3.09 percent on Friday when Britain's EU exit decision was officially announced, the main index rebounded this week to recover the loss.   Investors appear to have been relieved by concert

South Korea's consumer prices grew by less than 1 percent for the second month in a row in June, government data showed Friday, rekindling concerns over deflation amid a flaccid economic recovery.The country's consumer price index rose 0.8 percent last month from a year earlier, according to the data compiled by Statistics Korea.The figure also climbed 0.8 percent on-year in May, after rising 1 percent or more for the previous three months.From a month earlier, the June figure stayed flat.Core i

The free trade agreement between the United States and South Korea resulted in an increase of $4.8 billion-$5.3 billion in total American exports, the second-largest among a total of 13 free trade deals the U.S. has concluded, the U.S. trade agency said in a report Wednesday.The International Trade Commission report shows that the Korea-U.S. pact, often dubbed "KORUS FTA," is highly effective in increasing U.S. exports, contrary to claims by Republican presidential candidate Donald Trump that th

[THE INVESTOR] Britain’s decision to quit the European Union could have a lasting impact on global markets in the long term, Korea’s top financial regulator said on July 1. Yim Jong-yong, chairman of Financial Services Commission said the Korean market is moving toward stability after Brexit turbulence but “uncertainties still remain high as Britain’s exit from the EU is the first of its kind.”FSC chairman Yim Jong-yongAlmost US$4 trillion has been wiped out from global equity values since June

South Korea's current account surplus greatly widened from a month earlier in May as its surplus in the primary income account rose, while the deficit in the service narrowed, the central bank said Friday.The country's current account surplus came to $10.36 billion last month, compared with a $3.37 billion surplus in the previous month, according to preliminary data from the Bank of Korea.From a year earlier, the May figure marks a $2.04 billion increase, and is the highest since a $10.85 billio

The number of single-income households in Korea increased to 5 million last year, taking a 27.2 percent share of the total, according to data Thursday.Statistics Korea said the data also showed nearly half of all married couples were double-income families. The proportion of double-income families stood at 43.9 percent, which slightly increased from the previous year. What is notable is the increase of double-income couples living separately. Officials attributed the increase to massive relocati

South Korea’s industrial output swung back to growth in May on the back of increased production in chips and petroleum products, a government report showed Thursday. According to Statistics Korea, total output increased by 1.7 percent from April, reaching an all-time high. It jumped 4.8 percent from May 2015.

Korea's trade promotion agency said Thursday that it will help female entrepreneurs make inroads into foreign markets.The Korea Trade-Investment Promotion Agency said the project will be launched along with the Korean Women Entrepreneurs Association, which speaks for companies led by female CEOs.There are about 52,000 South Korean firms that are headed by female CEOs, though less than five percent of them export their goods to foreign countries. (Yonhap) 

President Park Geun-hye and SK Group chairman Chey Tae-won arrive in an eco-friendly energy town in Hongcheon, Gangwon Province, to look at solar power facilities on Thursday.(Yonhap)

Many outdoor gear and apparel brands are closing down their business here due to sliding domestic sales in the saturated outdoor market. Fashion Group Hyungji recently decided to withdraw its outdoor apparel brand NorthCape after five years in business. According to industry insiders, Hyungji has already notified its 70 franchise owners across the country.  Actress Ha Ji-won and actor Ji Chang-wook model for NorthcapeIn 2011, Hyungji clinched a deal to exclusively sell NorthCape -- an English ou

Korea's chief economic policymaker said Thursday benefits from the free trade agreement with the United States far outweigh the disadvantages, refuting opponents' arguments that the bilateral pact has hurt the American economy and jobs. "Despite the fact that the KORUS FTA has brought enormous benefits to consumers and investors of the two countries, it is no secret that some criticize it based on the increased U.S. current account deficit," Finance Minister Yoo Il-ho said during a meeting with

Korea Inc. is in a generational transition. From Lee Kun-hee to Lee Jae-yong at Samsung and from Chung Mong-koo to Chung Eui-sun over at Hyundai Motor, Korea’s top business groups are preparing for father-to-son transfers of ownership and managerial control.  This, according to corporate-governance expert Kim Woo-chan, poses a greater risk to global investors considering Korean stocks.               Kim Woo-chanThe “Korea Discount” -- lower equity valuations of Korean companies due partly to pas

[THE INVESTOR] The South Korean government will tightly restrict state-run energy firms’ new investment in overseas resource development in the midst of low oil prices as the government pushes for sweeping restructuring efforts, the Ministry of Trade, Industry and Energy said on June 30. The ministry will strengthen monitoring on loss-making overseas assets of public energy firms such as the Korea National Oil, the Korea Gas and the Korea Resources. “All their oversea assets will be subject to t

South Korea should ramp up efforts to ease regulations on its labor, corporate and financial sectors to help stimulate the sputtering economy, an expert said Thursday."The level of deregulation for the sectors has not improved much over the past 14 years," Choi Jin-woo, a professor who teaches at Korea University in Seoul, said at a seminar. "The country should push for stronger deregulation to induce tangible economic growth."The Korea Economic Research Institute under the Federation of Korean

 [THE INVESTOR] South Korea’s industrial output swung back to growth in May on the back of increased production in chips and petroleum products, a government report showed on June 30. According to Statistics Korea, total output increased by 1.7 percent from April, reaching an all-time high in 15 months. It jumped 4.8 percent from May 2015. Pixabay.comThe mining, manufacturing, gas and electricity industries led the increase, logging an output growth of 4.3 percent last month from a year ago. It