Citibank Korea has been expanding its global network-based wealth management service to differentiate its customer service in the South Korean financial market, the bank said Sunday.The Korean unit of the US bank opened its largest wealth management center in Cheongdam-dong, an affluent neighborhood in southern Seoul, last December. It has been seeking ways to further enhance its exclusive service by introducing a variety of programs to help expand customers’ assets. The Cheongdam center has a W

DSME says it expects turnaround this year with focus on specialty vessels

The Federation of Korean Industries, the largest lobby body for large companies here, said Friday that it would boost transparency and switch to the role of a think tank for the corporate sector.Huh Chang-soo, chairman of the FKI, announced a set of reform measures that centers around its pledge to cut its murky connection with the political circle and the government, and to better serve as a think tank for the corporate sector and society as a whole. (Yonhap)Among others, in a gesture to show i

South Korea plans to sell 8 trillion won ($7.1 billion) worth of state bonds next month, the finance ministry said Friday.The government will issue 1.85 trillion won worth of bonds with a maturity of three years and 1.95 trillion won worth of five-year bonds. (Yonhap)It also plans to sell 1.85 trillion won worth of 10-year Treasurys and a combined 2.35 trillion won of bonds with a maturity of between 20 and 30 years.For May, it also has a plan to issue a combined 8 trillion won worth of state bo

South Korean stocks fell Friday as foreign investors remained net sellers of local stocks, with sentiment partly subdued after Samsung Electronics said it may have to delay adopting a holding company format at present. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 3.77 points, or 0.17 percent, to close at 2,168.95. Trade volume was moderate at 354 million shares worth 5.04 trillion won ($4.48 billion). Samsung Electronics Vice Chairman Kwon Oh-hyu

South Korea will carry out an integrated assessment of its eight public insurances' long and mid-term financial estimates in 2018 in a way to better deal with their potential deficit due to the country's rapidly aging population, the finance ministry said Friday.According to government data, eight public insurances, including the National Health Insurance Service, will see their total expenditure reach 220 trillion won ($195.9 billion) in 2025, up from 106.2 trillion won tallied in 2016. (Yonhap

South Korean shares traded lower late Friday morning, weighed by Samsung affiliates after Samsung Electronics said it will be difficult to adopt a holding company structure at present.The benchmark Korea Composite Stock Price Index shed 7.54 points, or 0.35 percent, to 2,165.18 as of 11:20 a.m.Samsung Electronics Vice Chairman Kwon Oh-hyun told shareholders earlier in the day that the company could delay a plan to adopt a holding company structure for the time being. US hedge fund Elliott Manage

South Korean shares opened slightly higher Friday, as foreign investors remained net buyers of local stocks. The benchmark Korea Composite Stock Price Index rose 3.44 points, or 0.16 percent, to 2,176.16 in the first 15 minutes of trading. (Yonhap)Sentiment appeared to be subdued following a decline on Wall Street overnight after a delay in the US health care vote that is seen as a test of US President Donald Trump's ability to deliver on his economic policies.Most large caps traded mixed with m

Local funds investing in stocks of Samsung Group units have pulled off stellar performances this year on a surge in top-cap Samsung Electronics Co., far outperforming the overall stock market, data showed Friday.As of Wednesday, 25 Samsung Group funds have posted an average return rate of 11.35 percent since the start of the year, according to the data by industry tracker KG Zeroin. The yield is much higher than the 7.5 percent increase in the benchmark Korea Composite Stock Price Index over the

South Korea's financial system remains resilient despite increased risks stemming mostly from rising household debt, the country's central bank said Friday.The country's outstanding household credit -- which is composed of household loans and credit card spending -- came to 1,344.3 trillion won ($1.19 trillion) at the end of 2016, up 11.7 percent from a year earlier, the Bank of Korea said in a statement.  (Yonhap)Increased household credit and potential risks posed by financially troubled compa

Despite Samsung Electronics’ rally on the nation’s main bourse, more than half of listed firms are suffering from falling share prices this year.According to Korea Exchange, which operates the bourse in South Korea on Thursday, 1,175 listed companies, or 56.4 percent of the total, saw their share value fall from last year on the bench Korea Composite Stock Price Index. The share prices of nearly 60 percent of companies listed at the nation’s secondary stock board Kosdaq also fell, it added. The

 Mirae Asset Global Investments said Thursday its exchange-traded funds around the globe have exceeded 15 trillion won ($13.4 billion) in assets under management as of the end of February.The asset management company under Mirae Asset Financial Group said the number of Mirae Asset ETFs amounted to 220 in six countries -- Korea, Canada, Australia, Hong Kong, the US and Colombia.The growth of ETFs was particularly strong in 2016 with the assets under management of the ETFs increasing by 3 trillion

South Korean stocks rose slightly Thursday on the back of net purchases by foreign and institutional investors, ahead of a US healthcare vote that will demonstrate US President Donald Trump's ability to deliver economic policies.The benchmark Korea Composite Stock Price Index rose 4.42 points, or 0.2 percent, to close at 2,172.72. Trade volume was moderate at 352 million shares worth 5.02 trillion won ($4.47 billion), with gainers outnumbering losers 407 to 382.The local stock market opened high

South Korean shares opened higher Thursday, taking their cue from overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index  rose 2.77 points, or 0.13 percent, to 2,171.07 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 0.42 percent.Top automaker Hyundai Motor declined 1.47 percent, while top steelmaker POSCO rose 0.71 percent.Naver, the operator of the country's top Internet portal, gained 0.59 percent.The loc

Despite the economic slowdown, more than seven out of 10 South Korean lawmakers and high-ranking civil servants saw their wealth rise last year due mainly to an increase in the value of their real estate assets and stocks, data showed Thursday.The annual data, released by the Government Public Ethics Committee, showed that of the nation's 1,800 public officials, 1,382, or 76.8 percent, reported an increase in their assets in 2016.  This photo, taken on March 22, 2017, shows former President Park