Growing uncertainty from external factors further undermined South Korean stocks Thursday, pulling down its main index below 1,920 amid continued net-selling by foreign investors.The KOSPI lost 1.28 percent, or 24.83 points, to close at 1,914.55. It recorded its lowest mark in seven months since the benchmark index dipped to 1,902.62 on Jan. 19.Foreign investors dumped equities worth 294.5 billion won ($248.5 million), maintaining their net-seller stance for the 11th consecutive day of trading.

South Korean stocks shed 1.28 percent on Thursday, as foreign investors who got unnerved by China's stock market rout continued their selling spree here, analysts said. The Korean won gained slightly against the U.S. dollar. The benchmark Korea Composite Stock Price Index retreated 24.83 points to finish at 1,914.55, the lowest level since Jan. 15. Trading volume was moderate at 388.3 million shares worth 5.06 trillion won ($4.27 billion) with decliners outpacing gainers 598 to 223. "The global

South Korea's government debt should not exceed 40 percent of the nation's gross domestic product despite more spending needs and decreased tax revenue stemming from slowing growth, the top policymaker said Wednesday.Addressing lawmakers of the Special Committee on Budget and Accounts at parliament, Finance Minister Choi Kyung-hwan pointed out that since the global financial crisis of 2007-2008, government debt of most key countries has risen, but Seoul has managed to rein in its debt level."The

Shinhan Bank’s retirement wealth management platform is getting a lot of positive response from those planning their finances in an aging society.“The key point was to break down the cash flow into simple indices so customers can figure out their asset situation at a single glance,” said an official of the bank.“Before starting to plan the details, it is crucial to enable customers to predict their average income and expenses.”In April last year, the top bank kicked off Shinhan Future Planning,

South Korea’s financial regulator recently exercised its search and confiscation right for the first time in an alleged stock-rigging case, since it was given the authority in 2002 under the revised law on securities trading.Inspectors from the Financial Services Commission raided the residence of a certified public accountant working for a major accounting firm on June 1, a regulatory official said Tuesday.The alleged scammer is suspected of engaging in unfair stock trading with colleagues by e

Bracing for the introduction of Internet-only banks, financial firms and information and communications technology companies are making last-minute pitches to pair up with the best available partners and enter the business.So far, the move is more conspicuous in banks than securities companies, contrary to earlier predictions that the greatest synergy would be created in ICT-securities partnerships.KB Kookmin Bank, the nation’s largest bank in assets and mobile banking customers, is taking the l

Mirae Asset Securities Co., one of South Korea's largest brokerages, said Sunday that it has decided not to enter the Internet-only bank business, to better concentrate on its core areas.A corporate source said that the firm, which had set up a task force and actively considered branching out into the new sector, decided against taking such a step, so it can better enhance its competitiveness as an investment firm.Internet-only bank operations range from deposits, lending and cards to foreign ex

South Korea's major stock-rich billionaires have suffered a sharp loss in the value of their share holdings in August amid a downturn in stock prices, data showed Sunday. The combined value of stocks held by the 30 wealthiest South Koreans reached 76.97 trillion won ($65.53 billion) as of Thursday, down 2.84 trillion won, or 2.6 percent, from end-July, according to the data compiled by market researcher Chaebol.com.  Over the two-week period, the Korea Composite Stock Price Index, the country's

SEOUL (Yonhap) – A local court sentenced the head of a private watchdog to two years in prison for taking bribes from Lone Star Funds in return for dropping protests over the U.S. firm's local deal and trying to help it settle a stock manipulation trial.The Seoul Central District Court ordered Jang Hwa-sik, the head of Spec Watch Korea, also to forfeit 800 million won (US$681,000), he received in 2011 from Yoo Hoe-won, former head of Lone Star's local unit."Despite fairness and integrity expecte