The number of stock investors in the country rose slightly by 1.2 percent in 2013 despite a protracted slump in the South Korean stock market, data showed Tuesday. According to the Korea Exchange, the number of stock investors here stood at 5.07 million as of 2013, up from 5.01 million in 2012. Among the investors, individual investors accounted for slightly over 5 million, or almost 20 percent of the country’s economically active population, the data showed. In terms of market capitalization, r

South Korea will intensify its risk management during the second half of this year in the face of uncertainties lingering in overseas markets, the country’s top economic policymaker said Tuesday.The government will also place its policy focus on revitalizing the economy, which has a direct bearing on the livelihood of ordinary people and push for its signature three-year economic innovation plan, Finance Minister Hyun Oh-seok told a meeting with heads of research agencies in the economic and hum

The Korea Exchange Bank said on Monday it would open a subsidiary in Moscow this year as more South Korean companies are seeking to expand business opportunities in Russia. The country’s fifth-largest lender will focus on localizing financial services that include plans for developing retail banking businesses and offering financial services to both Russian and South Korean firms doing business in the area, bank officials said. The new subsidiary is being launched six years after KEB opened a Mo

Now it’s Sony versus Facebook.After being knocked around by Apple Inc. and Samsung Electronics Co. for more than a decade, Sony Corp. is up against yet another tech rival, attempting to build the PlayStation 4 into an entertainment powerhouse and develop a virtual-reality headset for the gaming market.And in this fight at least, the Tokyo-based conglomerate, which has lost money in five of the last six years, might have an edge. Sony’s commanding lead in sales of video-game consoles could give a

South Korean stocks may move marginally upward this week, fueled by gains in bluechips from an inflow of foreign funds, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,995.48 this week, edging up 0.03 percent from a week earlier.The small rise can be attributable to data that indicated the global economy is on the mend, albeit slowly, and net buying of bluechip stocks by foreign investors. Foreigners, who exert considerable influence on the market, remained n

South Korean stocks may move marginally upward next week, fueled by gains in bluechips from an inflow of foreign funds, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,995.48 this week, edging up 0.03 percent from a week earlier.The small rise can be attributable to data that indicated the global economy is on the mend, albeit slowly, and net buying of bluechip stocks by foreign investors. Foreigners, who exert considerable influence on the market, re

Stock ownership by foreign investors on South Korea’s bourse rose sharply this month as they scooped up market heavyweights such as tech and auto shares, data showed Thursday. Overseas investors held a combined 33.24 percent of local shares worth 441.8 trillion won ($431 billion) as of Tuesday, this year’s high, according to the data compiled by the Korea Exchange.Foreign investors owned 35.65 percent of the total shares traded on the main bourse, worth 427.99 trillion won, the highest portion o

Investment funds in South Korea saw their net asset value increase more than 8 trillion won ($7.83 billion) in May from a month earlier as investors parked more money in short-term funds and a bullish run on the local stock market helped offset an outflow from local stock funds, data showed Thursday.According to the Korea Financial Investment Association, the net asset value of stocks, bonds and real estate-related funds reached a combined 341.8 trillion won at the end of May, up 8.2 trillion wo

The South Korean economy grew 0.9 percent in the first quarter from three months earlier on brisk shipments of tech and petrochemical products, central bank data showed Thursday.Korea’s gross domestic product, unchanged from an earlier estimate released in April, matched the 0.9 percent on-quarter gain in the fourth quarter, according to data from the Bank of Korea.From a year earlier, Asia’s fourth-largest economy grew 3.9 percent in the first three months of the year, picking up from a 3.7 per

South Korea’s finance minister Thursday called on local business leaders to beef up investment and employment to help invigorate domestic demand and the fragile recovery of the overall economy. Deputy Prime Minister and Finance Minister Hyun Oh-seok made the request during a meeting with CEOs and top officials of the country’s 30 largest business groups in Seoul amid worries that April’s deadly ferry disaster is affecting consumer sentiment and putting brakes on the economic recovery.“Investment

The Financial Supervisory Service, the nation’s financial watchdog, is likely to punish the top posts of KB Financial Group and Kookmin Bank, both of whom are responsible for the recent leadership vacuum at the county’s largest banking group.“Based on the results of an investigation, which will be completed this week, disciplinary action will be imposed on those who are responsible for an internal feud concerning the replacement of the computer system at Kookmin Bank,” an FSS official said, addi

South Korean lenders are reaching out to wealthy Chinese customers as they seek new growth engines amid ultra-low interest rates and lackluster demand on their home turf.Local banks have been providing Chinese-language banking services to mostly blue-collar laborers in southwest Seoul.However, recent moves highlight their efforts to tap affluent Chinese who have already emerged as a major force in the retail sector.Woori Bank, the flagship unit of South Korea's biggest banking group, said Tuesda