The sharp rise in meat, dairy and public utility prices pushed up inflation perceived by ordinary people last year to more than the marginal gains tallied by the government, statistics agency said Monday.Data by Statistics Korea showed that while inflation rose 1.3 percent last year compared to 2013, prices of certain key commodities that directly impact people’s everyday lives rose at a faster clip, offsetting some of the advantages of lower costs for consumers.Last year’s inflation gain is unc

The South Korean government is scheduled to hold an investor relations session in Beijing later this week in a bid to lure more Chinese capital, a South Korean diplomat said Monday.Kwon Pyung-oh, deputy minister in charge of trade and investment at South Korea's Ministry of Trade, Industry & Energy, will lead the one-day fair on Friday, he said.Direct South Korean investment in China jumped 29.8 percent from a year ago to US$3.97 billion in 2014, according to figures released by China's commerce

The nation’s top-ranking financial companies are signaling an increase in their dividend payout ratios, reflecting their optimistic business prospects for this year.Their move has been influenced by the economic policies of Finance Minister Choi Kyung-hwan, who has pushed companies to release their capital into the market and revitalize the economy.The market champion Shinhan Financial Group will be the first to take action.“Korea tends to pay out a relatively low dividend compared to other Asia

The South Korean stock market is likely to rebound this week on the back of rising hopes for an additional stimulus by the European Central Bank, analysts said Saturday. The country’s key stock market index, the KOSPI, closed 1.9 percent lower on Friday than a week ago, on a continued slide in global oil prices that fell to their lowest levels in more than four years, and renewed concerns over Greece’s potential exit from the eurozone economy. Analysts said South Korean shares are expected to cr

The South Korean stock market is likely to rebound next week on the back of rising hopes for an additional stimulus by the European Central Bank, analysts said Saturday.The country's key stock market index, the KOSPI, closed 1.9 percent lower on Friday than a week ago, on a continued slide in global oil prices that fell to their lowest levels in more than four years, and renewed concerns over Greece's potential exit from the eurozone economy.   Analysts said South Korean shares are expected to c

South Korean stocks ended 1.36 percent lower Friday as foreigners continued to offload local equities on global financial uncertainties and plunging oil prices, analysts said. The local currency gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index failed to recover to the 1,900 mark it surrendered in the morning session and closed at 1,888.13 after plummeting 26.01 points. Trading volume was low at 289 million shares worth 3.9 trillion won ($3.62 billion), with d

Direct investment by South Korean companies into China jumped 29.8 percent from a year ago to $3.97 billion in 2014, China’s commerce ministry said Friday. The rapid growth in investment by South Korean firms in China marked a striking contrast to Japanese companies, whose direct investment in the world’s second-largest economy dropped 38.8 percent to $4.33 billion last year amid geopolitical tensions between Beijing and Tokyo. Last year, total foreign direct investment into China rose 1.7 perce

The South Korean won has become one of the top four performers among major currencies against the U.S. dollar so far this year, data showed Friday, as a plunge in crude oil prices helped improve corporate earnings in the oil importing country.The South Korean currency has gone up 1.93 percent to 1,082.20 won against the greenback in two weeks since starting off the year at 1,103.50 won, according to market data. The won’s appreciation rate was the fourth largest among 26 currencies, while the Tu

The nation’s top financial regulator plans to expand the exemption of guarantee requirements for start-ups to support fledgling firms.The Financial Services Commission is considering whether to ease regulations on investment limits to revitalize the KONEX market that opened in 2013 to facilitate financing for start-ups and small companies. The K-OTC, which deals with the trading of non-listed shares, will also open a second market in March for the trading of small venture firms’ stocks.The FSC r

Kookmin Bank, South Korea’s second-largest lender by assets, has won a lawsuit against the country’s tax agency to get back 442 billion won ($408.7 million) in tax it has paid, industry sources said Thursday.In 2007, the bank was hit with heavy taxes by the National Tax Service as the lender set aside 932 billion won in loan-loss provision after a merger with its struggling credit card unit. The NTS argued that the lender intended to avoid corporate tax by setting aside huge loan-loss reserves.A

Kookmin Bank, South Korea's second-largest lender by assets, has won a lawsuit against the country's tax agency to get back 442 billion won ($408.7 million) in tax it has paid, industry sources said Thursday.In 2007, the bank was hit with heavy taxes by the National Tax Service as the lender set aside 932 billion won in loan-loss provision after a merger with its struggling credit card unit.The NTS argued that the lender intended to avoid corporate tax by setting aside huge loan-loss reserves.Ac