More than half of listed firms in South Korea saw their share prices drop in 2017 from the end of last year despite the recent surge of the benchmark index and top-cap Samsung Electronics Co., data showed Thursday.As of Thursday, 56.4 percent of the 2,084 companies traded on the country's main and secondary stock markets, or 1,175 issues, closed lower compared with the end of 2016, according to the data by the Korea Exchange.  (Yonhap)On the main bourse, 52.3 percent of the 886 listed firms suff

South Korean stocks fell Wednesday, weighed down by sell-offs by foreign investors as their risk appetite weakened by a sharp decline on Wall Street overnight. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 10.08 points, or 0.46 percent, to close at 2,168.30. Trade volume was moderate at 388 million shares worth 5.45 trillion won ($4.85 billion), with losers outnumbering gainers 521 to 271.The local stock market opened lower, retreating from an alm

The amount of payments made electronically hit a record high in 2016, central bank data showed Wednesday, underscoring the growing trend of South Koreans using electronic means for financial transactions.The daily average amount of electronic financial transactions came to 343.5 billion won ($306 million) in 2016, up 36.1 percent from a year earlier, according to the data from the Bank of Korea. Electronic financial transactions made by using a smartphone (Yonhap)The reading marked the highest a

South Korea’s state-run policy lender said it has agreed to offer a $76 million loan as part of the Economic Development Cooperation Fund to the Pakistani government to build an IT park in Islamabad, the capital of Pakistan.The Export-Import Bank of Korea uses the EDCF to support industrialization and economic growth in developing countries as well as to promote bilateral economic exchanges. Since establishing the fund in 1987, the bank has provided $13.2 billion for 375 projects in 53 countries

The commercial real estate market in the UK is likely to maintain a stable outlook for several years going forward and offer opportunities for Korean institutional investors, a UK real estate investment expert said Wednesday.The British government is to formerly notify the EU on Wednesday of its intention to leave the economic bloc, from which the nation is to start a two-year negotiation for the exit of EU, or “Brexit.”Even in the worst scenario of a “hard Brexit” such as the UK losing full acc

Samsung Electronics Co. said Wednesday it has released its mobile payment service -- Samsung Pay -- in India, tapping into one of the fastest-growing smartphone markets in Asia.The South Korean tech giant said it clinched agreements with seven major Indian financial companies such as AXIS Bank and HDFC Bank, and SBI to provide the mobile payment solution on the subcontinent. Models demonstrate Samsung Pay in this file photo released by Samsung Electronics on Dec. 1, 2016. (Yonhap)Samsung Pay use

South Korea's finance minister said Wednesday that the current pace of the local currency's appreciation is not a problem should the volatility of the won-dollar rate remains limited."If the volatility isn't too high, I think the won's current ascent versus the US dollar is not a big problem," Finance Minister Yoo Il-ho said after a ministerial level meeting in Seoul. South Korea's Finance Minister Yoo Il-ho speaks at a ministerial meeting in Seoul on March 22, 2017. (Yonhap)"The latest currency

South Korean shares retreated late Wednesday morning from an almost six-year high in the previous session, tracking an overnight decline on Wall Street. The benchmark Korea Composite Stock Price Index shed 17.8 points, or 0.82 percent, to 2,160.58 as of 11:20 a.m.Most large caps traded lower with market kingpin Samsung Electronics falling 1.08 percent, while global chipmaker SK hynix was up 0.63 percent.Top automaker Hyundai Motor fell 0.88 percent, and its smaller affiliate Kia Motors traded 1.

South Korean shares opened weak Wednesday, tracking Wall Street's decline overnight as investors were concerned about US President Donald Trump's pledge to implement his agenda. The benchmark Korea Composite Stock Price Index slipped 12.82 points, or 0.59 percent, to 2,165.56 in the first 15 minutes of trading.Most large caps traded lower with market kingpin Samsung Electronics falling 1.36 percent.Top automaker Hyundai Motor shed 2.06 percent, and top steelmaker POSCO dipped 4.78 percent.Naver,

South Korea’s main stock index hit a high not seen in nearly six years Tuesday, hoisted by gains in most large-cap stocks. The benchmark Korea Composite Stock Price Index closed up 21.37 points, or 0.99 percent, to 2,178.38 points Tuesday. It was the highest closing since July 8, 2011 with 2,180.35 points.  South Korea‘s main bourse Kospi rose 0.99 percent to close at 2,178.38 points Tuesday, a record high closing since July 8, 2011. (KRX)During intraday trading, the Kospi touched as high as 2,1

South Korea's benchmark stock index on Tuesday hit its highest mark since July 2011, helped by gains made by Samsung Electronics, Hyundai Motor and other market heavyweights. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index rose 21.37 points, or 0.99 percent, to close at 2,178.38. Trade volume was moderate at 299 million shares worth 5.38 trillion won ($4.8 billion). The local stock market opened higher, helped by a buying binge by foreign and institution

South Korea's main stock index hit an intraday record high after almost two years late Tuesday morning, thanks to gains in most large-cap stocks. The benchmark Korea Composite Stock Price Index climbed 22.13 points, or 1.03 percent, to 2,179.14 as of 11:20 a.m.It was the first time since April 2015 that the KOSPI traded above 2,170 points. Most large caps traded higher with market kingpin Samsung Electronics adding 1.62 percent, and global chipmaker SK hynix up 0.11 percent.Top automaker Hyundai

The average annual salary of employees at South Korea's four biggest commercial banks reached 82 million won ($73,967) last year, industry data showed Tuesday.Shinhan Bank topped the list with 84.7 million won, followed by KB Kookmin Bank with 83 million won, KEB Hana Bank at 82 million won and Woori Bank with 80 million won, according to the data compiled by the lenders.Shinhan Bank posted 1.94 trillion won in net profits last year, up 30.2 percent from a year earlier.The average executive at t

South Korean listed companies' dividend payouts hit a fresh high in 2016 as large caps increased payments to meet stockholders' demand, data showed Tuesday.According to the data by the Korea Exchange, 517 out of the 746 companies listed on the main KOSPI market paid out a combined 20.95 trillion won ($18.7 billion) in year-end cash dividends last year, up 9.4 percent from the previous year.It marked the first time that listed companies' year-end cash dividends surpassed the 20 trillion-won mark.

South Korean shares opened higher Tuesday as most heavyweight stocks gained ground over healthy outlooks for their earnings.  The benchmark Korea Composite Stock Price Index rose 6.09 points, or 0.28 percent, to 2,163.10 in the first 15 minutes of trading.Most large caps traded higher, with market kingpin Samsung Electronics rising 0.38 percent.Top automaker Hyundai Motor gained 1.6 percent, and top steelmaker POSCO edged up 0.17 percent.Naver, the operator of the country's top Internet portal,