South Korean stocks closed higher Monday on continued net-buying by foreign investors, analysts said, while the gain was limited due to an upcoming European monetary meeting later this week. The won closed lower against the greenback.The benchmark Korea Composite Stock Price Index edged up 7.04 points, or 0.35 percent, to 2,002.00. Trading volume was moderate at 262 million shares worth 3.1 trillion won ($3.03 billion), with losers outpacing gainers 536 to 275.“Seoul shares continued to gather g

The overall number of business group affiliates subject to restrictions on mutual investments and loan guarantees rose in June from a month earlier, the antitrust watchdog said Monday.The Fair Trade Commission said the number on the watch list stood at 1,688 from 63 business groups as of Monday, up four from the previous month.Twelve affiliates were included on the list following a stake purchase or launching of new companies, while eight companies were removed, the watchdog said.Under South Kor

KB Kookmin Bank’s internal feud appeared to intensify as the board of directors and the management once again failed to reach an agreement on plans for replacing the bank’s computer system, a matter that has somehow turned into a power struggle between the bank management and outside directors. With the government now involved ― the Financial Supervisory Service has decided to speed up its special investigation into corruption regarding the system replacement as the outside directors claim ― it

The South Korean stock market is expected to climb and stay above the 2,000-point level this week on a series of prompts at home and abroad, analysts said.The benchmark Korea Composite Stock Price Index lost 22.21 points from the previous week to close at 1,994.96 points Friday as investors went profit-hunting after a heated rally.After closing at a yearly high the week before, the KOSPI sank below the 2,000-point level in 10 sessions on Monday on institutional selling.On Wednesday, it soared ba

South Korean stocks retreated 0.34 percent on Monday as investors indulged in profit-taking after a weeks-long strong performance of the market, analysts said. The local currency gained against the U.S. greenback.The benchmark Korea Composite Stock Price Index lost 6.82 points to 2,010.35, a drop from a five-month high of 2,017.17 in the previous session. Trading volume was thin at 191.7 million shares worth 2.65 trillion won ($2.59 billion), with losers slightly outnumbering gainers 413 to 370.

An employee of the country’s third-largest bank was belatedly found to have misappropriated a massive amount of money from the bank last year, regulators said Monday.The entry-level employee was caught embezzling about 131 million won ($127,900) from the bank over the course of several months for personal use, the Financial Supervisory Service revealed. Shinhan Bank detected the case in December last year and immediately reported the case to the FSS, according to the bank officials. The bank dis