Investments by the country's top 30 conglomerates by assets dropped 18 percent in 2016 from a year earlier, with the top three business groups leading the overall decline, a tally from a corporate tracker showed Tuesday.The 30 business groups, which control 266 affiliates, invested 60.69 trillion won ($54.3 billion) in tangible and intangible assets last year, a 13.39 trillion won, or 18.1 percent, drop from a year earlier, according to CEO Score.(Yonhap)Of the difference, 95.6 percent of the am

South Korean stocks finished slightly higher Monday helped by gains in information-technology stocks. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 7.28 points, or 0.34 percent, to hit 2,167.51. Kim Ye-eun, an analyst at Cape Investment & Securities, said investors' buying of Samsung Electronics Co. and chipmaker SK hynix Inc. drove up the main index."Improved first quarter earnings estimates in information-technology companies, such as Samsung El

K bank’s launch overshadowed by strict regulation on conglomerates’ ownership in banks

South Korea's mortgage loans edged up 0.05 percent in March from a month earlier on increased home transactions, bank data showed Monday.The accumulated mortgages rolled out by six major lenders -- KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank, NH Bank and the Industrial Bank of Korea -- stood at 378.06 trillion won ($339 billion) in March, up 211.7 billion won from a month earlier, according to official data.(Yonhap)The increase came as the number of home sales went up. The number of

South Korean stocks extended gains late Monday morning helped by gains in information-technology stocks.The benchmark Korea Composite Stock Price Index rose 5.58 points, or 0.26 percent, to hit 2,165.81 as of 11:20 a.m.The broad index didn't follow Friday's losses on Wall Street.The Dow Jones industrial average dropped 0.31 percent, with the tech-heavy Nasdaq composite index declining 0.04 percent.Kim Ye-eun, an analyst at Cape Investment & Securities, said investors' buying on Samsung Electroni

South Korean stocks opened higher Monday, despite losses on Wall Street late last week.The benchmark Korea Composite Stock Price Index gained 2.82 points, or 0.13 percent, to 2,163.05 in the first 15 minutes of trading.The broad index didn't follow Friday's losses on Wall Street.The Dow Jones industrial average dropped 0.31 percent, with the tech-heavy Nasdaq composite index declining 0.04 percent.Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics Co. gained 0.92

This is the 38th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. – EdCJ O Shopping, a leading home-shopping channel in South Korea, is likely to benefit from recovering consumers’ sentiment as the country is set to hold the presidential election in May, as well as an overall improvement in its competitiveness analysts here predicted.Shares in CJ O Shopping, the 12th largest on the tech-heavy Kosdaq market in terms of market capitalization with 1.3 trilli

 Teachers’ Pension, South Korea’s second-largest retirement pension, is eyeing investment opportunities in infrastructure projects in Europe and Asia while targeting the fund’s annual yield at 4.2 percent this year, its chief investment officer told The Korea Herald. David Park, the new CIO of the pension fund, took office in January. He is well-known in the financial industry for his expertise in infrastructure investment. Prior to joining the pension fund, he served as CIO of Allianz Life Insu

South Korea's financial regulator said Sunday that it has eased guidelines on policy loans for low-income earners, allowing them to benefit from the government-backed micro-financing programs. Details of the eased guidelines were finalized at a meeting between Jeong Eun-bo, vice chairman of the Financial Services Commission and representatives from private banks on Friday, the FSC said in a statement.  (Yonhap)The move is aimed at helping owners of mom-and-pop stores and college graduates, who a

Creditors of cash-hungry Daewoo Shipbuilding & Marine Engineering Co. are ratcheting up pressure on commercial lenders to accept a massive debt-for-equity swap, a three-year grace period on remaining debt and other debt rescheduling measures to keep the shipyard afloat, industry sources said Sunday.According to the sources, the creditors, led by the state-run Korea Development Bank, are also pressing the labor union of Daewoo Shipbuilding to accept a pay cut and job cuts as well. (Yonhap)Late la

Daily debit card spending rose 15.2 percent in 2016 from a year earlier, central bank data showed Friday, in the latest sign of growing popularity of debit cards that offer tax benefits.Debit card spending on a daily basis came to 424 billion won ($379 million) in 2016, compared with 368 billion won a year earlier, according to the data compiled by the Bank of Korea. (Yonhap)Meanwhile, credit card holders in South Korea spent an average of 1.84 trillion won a day in 2016, up 9.7 percent from 1.6

South Korean stocks traded nearly unchanged late Friday morning, as bearish tech stocks capped gains in foodmakers and oil refiners, analysts said. The benchmark Korea Composite Stock Price Index inched down 1.14 points, or 0.05 percent, to move at 2,163.50 as of 11:20 a.m.Tech giant Samsung Electronics retreated 0.8 percent, with chipmaker SK hynix falling 1.6 percent. In contrast, shares of Shinsegae Food soared more than 3 percent, with oil refiner S-Oil rising 2 percent. The local currency w

The Export-Import Bank of Korea, one of South Korea's state-run policy banks, suffered a net loss of 1.46 trillion won ($1.3 billion) last year, hit by higher provisions against its loans extended to the country's ailing shipbuilding industry. It was the first time that the bank reported an annual net loss since its foundation in 1976, according to the bank's audit report posted on its website Friday.(Yonhap)The bank reported a net profit of 41.1 billion won in 2015, the report showed. The bank

The South Korean stock market operator said Friday it has exported its advanced IT system for stock trading to Malaysia and seven other countries over the past decade, earning more than 80 billion won ($71.6 million).Starting with the establishment of a bond trading system in Malaysia in 2007, the Korea Exchange has exported 14 IT systems related to the stock market to the eight countries, mostly in Southeast Asia.(Yonhap)In 2011, the KRX set up a joint stock exchange in Laos in partnership with

South Korean stocks opened slightly higher Friday, buoyed by strong blue chip steelmakers and automobiles, analysts said. The benchmark Korea Composite Stock Price Indexticked up 0.78 point, or 0.04 percent, to trade at 2,165.42 in the first 15 minutes of trading. POSCO, the country's leading steelmaker, jumped nearly 2 percent, after it released a better-than-expected earnings guidance for the first quarter Thursday. No. 1 automaker Hyundai Motor was also up almost 1 percent, with its auto part