SEOUL (AFP) -- South Korea's inflation rate hit its lowest  point for 14 months in December, reflecting plunging oil prices, state data showed Wednesday.Consumer prices in December rose 0.8 percent from a year ago, slowing from  1.0 percent growth in November, according to state-run Statistics Korea. This marked the lowest gain since October 2013 when consumer prices rose  0.9 percent.Consumer prices for the whole of 2014 rose 1.3 percent after growing at the  same pace in 2013.Inflation has rem

The number of stock trading accounts at local brokerage houses reached a historic high this year as more retail investors opened new accounts ahead of big initial public offerings (IPOs), data showed Wednesday.The accounts that have been used for stock transactions over the past six months increased to 20.97 million as of Dec. 26, according to data by the Korea Financial Investment Association (KFIA).Active trading accounts first surpassed 10 million in July 2007 and reached over 20 million in M

Bank lending rates for new loans in South Korea dropped to a record low last month, with the pace of decline slightly slowing from October, central bank data showed Tuesday.   The average rate for new loans to households, companies and other organizations reached 3.88 percent in November, down 0.12 percentage point from the previous month, according to the Bank of Korea (BOK). It marks the lowest level since the central bank began compiling the data in 1996.  In October, the figure slumped 0.14

Foreign investors’ net purchases of South Korean stocks nearly doubled in 2014 from the previous year thanks to ample liquidity in the United States and other major economies, data showed Sunday.Offshore investors bought a net 8.21 trillion won ($7.47 billion) worth of local stocks in the first 11 months of this year, 1.7 times the 4.72 trillion won recorded for the whole of 2013, according to the data by the Financial Supervisory Service. It marks the third consecutive year that foreigners have

The number of filings for personal bailouts in South Korea reached a record high in the first 11 months of this year with the full-year figure also expected to hit an all-time high, market watchers said Sunday.In the January-November period, 101,728 people sought a state-managed bailout, up 5.5 percent from the same period last year.The market observers said the number would likely top the annual high of 105,885 set in 2013.The number has been increasing steadily since 46,972 in 2010 to 65,171 i

The Financial Services Commission on Wednesday approved KB Financial Group’s acquisition of LIG Insurance, six months after the group embarked on plans to beef up its nonbanking business segments. By taking over the insurer, KB is expected to regain its status as the country’s leading financial group with assets worth 423 trillion won ($383 billion). Currently, it has some 399.3 trillion won. Shinhan Financial Group will be pushed down to second place with 401 trillion won. The regulator, howeve

South Korea's financial regulator approved a deal on Wednesday for KB Financial Group Co. to take over a local non-life insurer, paving the way for the country's second-largest banking group to beef up its non-banking business.The Financial Services Commission gave the final nod for KB Financial to acquire LIG Insurance Co., the country's 4th-largest non-life insurance company as the internal feud-tarnished banking group is struggling to reshape its business portfolio.Shares of KB Financial clos

South Korean stocks closed lower Tuesday as foreigners and retail investors continued to offload local equities on global economic uncertainty and fluctuating oil prices, analysts said. The local currency weakened against the greenback.The benchmark Korea Composite Stock Price Index (KOSPI) lost 4.1 points, or 0.21 percent, to 1,939.02. Trading volume was light at 295.2 million shares worth 3.26 trillion won (US$2.97 billion), with gainers beating decliners 407 to 387. Foreigners remained net se

South Korea will issue 102.7 trillion won (US$93.1 billion) worth of state bonds in 2015 to finance its expansionary spending plans aimed at economic recovery, the finance ministry said Tuesday.The ministry said it will issue 8-9 trillion won worth of Treasurys every month in the new year. Some 20-30 percent of state bonds will be issued with a maturity of three years, with five-year bonds and 10-year bonds to make up 20-30 percent and 25-35 percent of the total, it said. The government will als

The default rate of corporate bills in South Korea dropped to the lowest level in a year as the number of failures by cash-strapped firms declined in the metropolitan area, central bank data showed Tuesday.The default rate of corporate bills -- bonds, checks and promissory notes -- reached 0.12 percent last month, down from 0.19 percent in October, according to the Bank of Korea (BOK). The figure is on par with 0.12 percent logged in November 2013.The central bank credited the on-month decline t