Hotel Lotte Co.'s proposed initial public offering (IPO) will be postponed to an unspecified date as senior officials have come under investigation for alleged bribery related to its duty-free business, company officials said Tuesday.Lotte's hotel and duty-free unit has been preparing to list its shares on the Seoul bourse on June 29, planning a series of overseas roadshows starting from this week to attract offshore investors. Hotel Lotte Co. (Yonhap)The first overseas deal roadshow slated for

South Korean stocks started higher Tuesday as weaker than expected job data from the U.S. reduced the chance of an imminent rate hike in the world's largest economy.The benchmark Korea Composite Stock Price Index added 12.63 points, or 0.64 percent, to 1,998.47 in the first 15 minutes of trading. (Yonhap)The local stock market got off to a strong start as U.S. job data for May has weakened the possibility of a June rate hike by the Federal Reserve.Top market cap Samsung Electronics advanced 0.94

Concerns are rising here over what has been deemed as increasing U.S. pressure on Korea to do more to alter its trade practices and business environment.The pressure, which is expected to escalate further in the lead-up to and beyond the U.S. presidential election in November, seems related mainly to the growing trade imbalance between the two sides. Korea’s trade surplus with the U.S. jumped to $28.3 billion last year from $15.2 billion in 2012, when a bilateral free trade agreement came into f

With the global economy in a low-growth trap, Korean exports are expected to remain in negative territory, affecting the growth prospect of Asia’s fourth-largest economy this year.Data by the Organization for Economic Cooperation and Development showed that the growth of Korean exports, which the country relied mostly on to expand on account of weak domestic consumption, has dropped since last year.(Yonhap)Although Korea ranked fourth in the OECD after Japan, Ireland and Mexico in January last y

In light of weak economic data, sketchy corporate restructuring plans at home and fluctuating expectations on U.S. rate hikes, the Bank of Korea’s monetary policymakers will meet Thursday to review borrowing costs. Korea’s seven-day repurchase rate is at a record-low of 1.5 percent for the 11th month running, but minutes of the BOK’s latest rate-setting session in May showed that one board member called for a rate cut in the near-term. For the month of June, experts see the monetary policy board

Dividends payments by South Korean companies listed on the main stock market will exceed 21 trillion won (US$18 billion) this year as investors seek high-yielding assets away from low-yielding bank products, a brokerage report said Monday.   Local companies traded on the benchmark KOSPI market are likely to pay 21.1 trillion won in cash dividends for the 2016 fiscal year, up from 20.4 trillion won paid in the previous business year, according to a report from Samsung Securities Co.   The brokera

The combined market cap of the top 10 Korean firms fell by about 11 trillion won ($9.45 billion) during the first five months of 2016. According to financial information provider FnGuide, the market cap of the country’s top 10 listed conglomerates declined to 633.91 trillion won as of June 3, losing 1.7 percent from the amount it reported at the end of 2015.Among the leading local companies, Samsung Group lost 1.86 percent of market cap after dropping to 296.92 trillion won from 302.64 trillion

Korea has operated its green growth trust fund successfully to help developing countries attain more financing from the World Bank for their sustainable development, an executive at the bank said.The Korea Green Growth Trust Fund was created in 2011 in partnership between the Korean government and the World Bank Group originally for a four-year program with $40 million from 2013 to 2016. Recently, the government replenished the fund with another $48 million with its operation extended to 2021.Zo

Restructuring in the struggling Korean shipbuilding industry is in full swing, with shipyards set to push their self-restructuring schemes after receiving the go ahead from creditors. Among the nation’s top three shipbuilders, Hyundai Heavy Industries and Samsung Heavy Industries received approvals from their respective creditors for their debt restructuring proposals last week. Daewoo Shipbuilding & Marine Engineering is awaiting its key lender’s green light. Hyundai Heavy Industries (Yonhap)Da

Lee Soo-man, the chairman of S.M. Entertainment Co., remained in the first place in the list of Korea's stock-rich celebrities this year, as his management agency and record labels continued to post brisk performance, data showed Sunday.The stock assets by the K-pop entertainment mogul were estimated to be 180.1 billion won ($151.8 million) as of June 3, slipping 1.3 percent from Jan. 2, according to the data compiled by corporate tracker Chaebul.com.Yang Hyun-suk, the chief of YG Entertainment

Fiscal policymakers of South Korea and the U.S. reaffirmed their strategic alliance against the potential threat from North Korea using the international financial system.In the first meeting between the finance chiefs of the two countries in Seoul on Friday since the G20 summit in 2010, U.S. Treasury Secretary Jacob Lew said that two sides will continue to collaborate in dealing with and resolving any financial matters concerning the North.Lew’s visit to Seoul comes after the U.S. Treasury Depa

South Korea plans to sell 3 trillion won ($2.53 billion) worth of Treasury bills this month to help stabilize the money market and cover government expenses, the finance ministry said Friday.The bills will have a maturity of 63 days and be sold in three separate auctions throughout the month, according to the Ministry of Strategy and Finance.One of the three auctions was held earlier this week, in which the government sought to raise 1 trillion won.Treasury bills are designed to raise money to c

South Korean retail investors have suffered big losses from their stock investments this year, while institutions and foreigners have performed relatively well, industry data showed Friday.Retail investors posted an average investment return of minus 12.83 percent on their top 10 net-buy issues between Jan. 1 and Wednesday, compared with the 1.09 percent return rate for the benchmark Korea Composite Stock Price Index over the cited period, according to the data.Analysts said retail investors see

Korea’s two largest container operators are at a crossroads in negotiations with shipowners to cut leasing rates for their chartered ships, sources said Thursday.Hanjin Shipping is struggling to make progress in talks on charter fees -- a major burden on the heavily indebted shipper’s balance sheet. Meanwhile, its smaller rival Hyundai Merchant Marine is expected to reach an agreement this week at earliest. “Hanjing Shipping is reaching out to foreign shipowners but none of them gave a positive

South Korean asset management companies are increasingly eyeing global markets to seek higher returns, as local capital markets face low interest rates, industry officials said Thursday.The number of overseas offices operated by Korean asset management companies more than doubled to 35 as of the end of 2015 from 14 in 2008, according to data by the Korea Financial Investment Association.The head office of the Korea Financial Investment Association in Seoul. (KOFIA)Among 35, 14 are run by Mirae A