South Korea needs to prevent the local currency from excessively appreciating against other currencies like the Japanese yen and euro by encouraging the moderate outflow of U.S. dollars to back up its export-oriented economy, a researcher said Tuesday."If the won rose against the yen and euro at a time of a strong dollar, its negative impact would be increased," Park Sung-wook, a researcher at the Korea Institute of Finance, said."The government should consider taking measures to induce the grad

South Korean stocks ended 0.2 percent lower Tuesday as persistent worries over weakening global oil prices sapped investor sentiment, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 3.81 points to 1,917.14. Trading volume was moderate at 309.7 million shares worth 4.66 trillion won ($4.3 billion) with decliners outnumbering gainers 469 to 329."Concern over industries, including chemical, refined oil and steel, is gr

China's trade surplus jumped 45.9 percent from a year ago to 2.35 trillion yuan (about $379 billion) in 2014, although the world's second-largest economy missed its growth target for trade last year.Exports rose 4.9 percent to 14.39 trillion yuan, but imports fell 0.6 percent to 12.04 trillion yuan, the General Administration of Customs said, without immediately giving figures in dollar terms.China's net trade grew 3.4 percent last year, well below its annual target of 7.5 percent.Chinese leader

South Korean stocks traded lower late Tuesday morning as foreigners and institutions offloaded shares following overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index opened in negative territory and fell to 1,918.24 as of 11:20 a.m., a loss of 0.14 percent, or 2.71 points, from Monday' close.South Korean chipmaker SK hynix slipped 1.69 percent, and top steelmaker POSCO shed 2.41 percent. Naver, the country's largest portal operator, fell 0.93 percent.Sams

South Korea's tech-heavy secondary stock market has staged a robust performance this year on expectations of upward momentum following the government's policy pledge to support financial technology, data showed Tuesday.The tech-laden KOSDAQ index rose 1.77 points, or 0.31 percent, to end at 574.76 on Monday, extending its winning streak to four sessions, according to the data by the Korea Exchange.The Monday closing index marks the highest since Sept. 25, 2014, when the comparable figure was 583

South Korean stocks opened lower on Tuesday as shares of Samsung affiliates dragged down the main stock index, analysts said.The benchmark Korea Composite Stock Price Index moved down 4.11 points, or 0.21 percent, to 1,916.84 in the first 15 minutes of trading.Tech giant Samsung Electronics fell 0.30 percent, and Cheil Industries, the de facto holding company of Samsung Group, dropped 2.37 percent. Tech solutions provider Samsung SDS also tumbled 3.46 percent.Retailers were also trading in negat

South Korea launched on Monday its first emission rights exchange at the Korea Exchange’s Busan headquarters amid growing concerns among participating companies.The trading has been established to combat climate change by allocating emission permits to companies according to their emission history. Firms whose carbon emissions exceed or come under the permitted amount can trade the rights. The state-supported trade, monitored by the Korea Exchange, has been a bone of contention between the gover

President Park Geun-hye downplayed concerns Monday that the South Korean economy was following the path of Japan’s deflation and low growth, stressing that the country would not waste time to spur the economy despite negative macroeconomic conditions.In her New Year press conference, Park said the country would pursue its economic structural reforms as a means to prevent Asia’s fourth-largest economy from falling further into low growth.“Although our country’s inflation rate is currently low, ma

KB Financial Group will transfer about 10 percent of its human resources to its unit branches as part of its restructuring plan.The banking group is expected to move 10-20 of its 120 employees to lower offices as early as this week, according to group officials Monday. Even those who remain at the central headquarters will be partly allocated to newly established departments such as marketing strategy and digital financing, instead of filling the vacant seats with new employees, the officials ad

South Korean stocks ended 0.19 percent lower Monday as investors’ expectations for an economic recovery in the eurozone lost momentum, analysts said. The South Korean won gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 3.75 points to 1,920.95. Trading volume was moderate at 301.44 million shares worth 3.48 trillion won ($3.22 billion), with gainers beating decliners 434 to 371. Analysts said investors’ prospects for a turnaround in the European economy died d

South Korean stocks ended 0.19 percent lower Monday as investors' expectations for an economic recovery in the eurozone lost momentum, analysts said. The South Korean won gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 3.75 points to 1,920.95. Trading volume was moderate at 301.44 million shares worth 3.48 trillion won ($3.22 billion), with gainers beating decliners 434 to 371.Analysts said investors' prospects for a turnaround in the European economy died dow

The South Korean won climbed against the U.S. dollar on Monday, extending its gain to a third consecutive day as the greenback's bulls eased to some degree following a payroll report from the world's largest economy.The Korean won closed at 1,081.40 per dollar, up 8.6 won from the previous session's close, after hitting an intra-day high of 1,080.50, the highest in two months.Analysts said December job data in the U.S. was good, but disappointment over wages helped weaken the prospect of an earl

South Korea's chief financial regulator on Monday hinted he may approve a merger of two local banks without an agreement with the labor union, a change from his earlier stance.Hana Financial Group Inc., South Korea's third-largest banking group by assets, has been trying to integrate its flagship Hana Bank with the Korea Exchange Bank, which it bought in 2012 from U.S. buyout firm Lone Star Funds for 3.9 trillion won ($3.57 billion). But the merger attempt had been deadlocked for months due to s

South Korean stocks traded slightly lower late Monday morning as investors sat on the sidelines after overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index edged down 0.08 percent, or 1.54 points, to 1,923.16 as of 11:20 a.m.Market leader Samsung Electronics lost 0.08 percent, and the country's top carmaker Hyundai Motor surrendered 0.83 percent.Tech solutions provider Samsung SDS dropped 3.16 percent after having gained ground in the previous two session

South Korea's central bank is forecast to keep the base rate on hold in January as the government is drumming up support for structural reform over short-term policies to fuel growth in Asia's fourth-largest economy, analysts said Monday.A majority of 20 of 22 analysts surveyed by Yonhap Infomax, the financial news arm of Yonhap News Agency, projected the Bank of Korea to keep the base rate unchanged at an upcoming policy meeting on Thursday. If the projection is on track, it will extend the BOK