South Korean banks saw their financial health worsen slightly in the third quarter of this year from three months earlier due to a rise in risky assets, the financial watchdog said Wednesday.  The average capital adequacy ratio of 18 commercial and state-run banks stood at 13.96 percent as of end-September, down 0.13 percentage points from the previous quarter, according to the Financial Supervisory Service.  The ratio, a key barometer of financial soundness, measures the proportion of a bank's

Daewoo International, a trading unit of South Korea's steelmaking giant POSCO Co., will likely finalize a deal for its automotive business in Saudi Arabia early next year "at the latest," an industry source said Wednesday.  It also plans to start building an assembly line for vehicles in the Middle East country within the next year as all necessary preparations have been made, according to the source close to the matter.  "A deal for the automotive business in Saudi Arabia could be reached early

South Korean stocks opened nearly flat Wednesday as investors sat on the sidelines waiting for market-moving events.  The benchmark Korea Composite Stock Price Index edged up 0.12 point, or 0.01 percent, to 2,016.17 in the first 15 minutes of trading.  No. 1 carmaker Hyundai Motor remained unchanged from the previous session, while Kia Motors shed 1.44 percent. Top auto-parts maker Hyundai Mobis added 0.4 percent.  Top mobile carrier SK Telecom lost 0.21 percent, and KT moved down 0.5 percent. L

South Korea's stock markets gained 0.63 percent on Tuesday extending its winning-streak to a fourth day as uncertainty over the U.S. Fed's interest rate policy eased.The local currency rose against the greenback.The benchmark Korea Composite Stock Price Index advanced 12.59 points to 2,016.29. Trading volume was moderate at 406.9 million shares worth 4.27 trillion won ($3.7 billion), with gainers outpacing losers 434 to 368.  Analysts said the eased uncertainties surrounding the U.S. rate policy

South Korean stocks traded 0.44 percent higher late Tuesday morning on the back of gains in techs and financial shares.  The benchmark Korea Composite Stock Price Index rose 8.79 points to 2,012.49 as of 11:20 a.m.  Top-cap Samsung Electronics added 1.01 percent, and major panel maker LG Display gained 5.24 percent. Samsung Electro-Mechanics climbed 1.42 percent.  Brokerage houses also traded bullish, with Daewoo Securities rising 2.38 percent and Samsung Securities moving up 1.33 percent. NH In

U.S. dollar-denominated assets are gaining more popularity in the local market amid signs that the Washington-based Federal Reserve will raise the base rate at its Dec. 15-16 meeting.In contrast, investors’ interest in Korean won-denominated assets appears to be waning as shown by the recent trading of local stocks by foreigners. Both local and foreign investors are betting on the dollar’s sharp gains against the won.On a collective basis, four commercial banks saw individuals’ dollar-denominate

U.S. dollar-denominated savings by local residents increased at a record rate last month as people apparently expect the greenback to strengthen following what many see as an imminent U.S. rate hike, market observers said Monday.  As of the end of October, U.S. dollar deposits held by local residents came to $49.45 billion, according to data released earlier by the Bank of Korea.  The October tally marks a 13.8 percent increase from the previous month, the fastest on-month rise in the country's

The Korea Customs Service said Thursday that it detected and handed over to prosecutors a group of smugglers who illegally reimported some 3 billion won ($2.6 million) of Korean cigarettes from China.A 54-year-old Korean national surnamed Kim, along with 10 accomplices, smuggled in October-December last year 16,000 packs of Korean cigarettes that had earlier been exported to China and Hong Kong, according to the customs office.The gang also manufactured some 50,000 packs of counterfeit Korean ci

South Korean stocks jumped more than 1.3 percent Thursday as uncertainties surrounding the U.S. Federal Reserve's policy direction eased following the release of its minutes that hinted at a potential rate hike. The local currency closed higher against the greenback.The benchmark Korea Composite Stock Price Index advanced 26.03 points to 1,988.91. Trading volume was moderate at 414.7 million shares worth 5.06 trillion won ($4.32 billion), with gainers outpacing losers 587 to 231.The Federal Open

Spot trading of foreign currencies by banks in South Korea fell nearly 10 percent on-quarter in the third quarter largely due to a cut in won-yuan transactions prompted by the country's dwindling exports to China, central bank data showed Thursday.Daily spot trading volume came to $19.69 billion in the three months ended Sept. 30, according to the Bank of Korea.The Q3 tally marks a 9.7 percent drop from a record $21.8 billion in the second quarter.The drop was mostly attributed to a 29.3 percent