Foreign currency deposits at South Korean banks rose to another record high in November following those of the previous month, due to a hike in yuan-denominated deposits, the central bank said Friday. Outstanding foreign currency-denominated deposits held by residents reached $48.61 billion as of the end of November, up $2.49 billion from a month earlier, according to the Bank of Korea. The groups classified as residents include local citizens, foreigners staying here for more than six months an

South Korean stocks closed 0.22 percent lower Friday as investors awaited job data from the United States to be released later in the day, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.36 points to 1,980.41. Trading volume was low at 198.5 million shares worth 3.25 trillion won ($3.07 billion) with losers outpacing gainers 435 to 374.Analysts said investors maintained a wait-and-see approach toward November's U.S.

South Korean stocks traded almost flat late Friday morning as investors took to the sidelines ahead of the release of U.S. jobs data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.55 points, or 0.13 percent, to 1,987.32 as of 11:20 a.m.Blue-chip shares traded mixed, with tech giant Samsung Electronics falling 0.14 percent while top chipmaker SK hynix added 3.07 percent. Flat panel maker LG Display advanced 4.7 percent.Mobile carriers also traded mixed, with No. 1 S

South Korean stocks opened almost flat Friday as investors took a wait-and-see approach on the U.S.jobs data for November, scheduled to be announced after the trading session, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.08 points, or 0.05 percent, to 1,983.69 in the first 15 minutes of trading.Tech shares moved up, with market behemoth Samsung Electronics adding 0.07 percent and flat panel maker LG Display rising 2.99 percent. Top chipmaker SK hynix moved up 0.73

Nation’s economic growth advances 1.1 percent in Q3

Regulators are set to punish the Korean operation of Goldman Sachs for breaching the law on sales of overseas financial products including government bonds issued in Malaysia.The Financial Supervisory Service said Thursday that it has completed an investigation into Goldman Sachs on allegations that the Wall Street giant sold the products directly to domestic consumers “without going through its Korean unit.”The nation’s laws and regulations require the sales of international bonds to the local

South Korean stocks edged down 0.1 percent Thursday as investors were concerned that the improved U.S. economic data may induce its central bank to cut stimulus moves earlier than expected, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.03 points to 1,984.77. Trading volume was low at 213.1 million shares worth 3.26 trillion won ($3.07 billion) with losers outpacing gainers 416 to 364.Analysts said Seoul shares clos

South Korean stocks traded 0.26 percent lower late Thursday morning on losses in shipbuilders and construction firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 5.22 points to 1,981.58 as of 11:20 a.m.Shipbuilders traded bearish, with Hyundai Heavy Industries moving down 1.56 percent and Samsung Heavy Industries losing 1.05 percent. Daewoo Shipbuilding & Marine Engineering declined 2.49 percent.Builders also continued to lose ground, with Hyundai Engineering & Con

South Korean stocks opened almost flat Thursday as investors remained cautious over a possible tapering of U.S. quantitative easing, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.35 points, or 0.02 percent, to 1,987.15 in the first 15 minutes of trading.Blue-chip shares edged up, with market behemoth Samsung Electronics adding 0.28 percent and No. 1 carmaker Hyundai Motor rising 0.64 percent. Leading steelmaker POSCO gained 0.45 percent.Builders traded bearish, w

Former Hana Financial Group chairman Kim Seung-yu expressed his willingness to step down from his post as adviser to the financial firm.His departure comes after the Financial Supervisory Service said it was investigating allegations that Kim had engaged in irregular business practices during his tenure as the group’s chief.Hana Bank owns about 4,000 pieces of artwork. Kim is known to be an art lover but the FSS suspects there is more to the bank’s unusually large art collection.On Tuesday, the

South Korean stocks sank 1.12 percent Wednesday as better-than-expected economic data from the United States revived woes that its central bank may scale back a massive stimulus measure in the near future, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 22.56 points to 1,986.80. Trading volume was low at 226 million shares worth 3.57 trillion won ($3.36 billion) with losers outpacing gainers 521 to 283.Analysts said Se

South Korean stocks traded 0.85 percent lower late Wednesday morning on losses in technology firms and mobile carriers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 17.15 points to 1,992.21 as of 11:20 a.m.Tech shares continued to trade mostly lower, with market behemoth Samsung Electronics falling 1.3 percent and flat panel maker LG Display losing 2.1 percent. Top chipmaker SK hynix, in contrast, gained 0.43 percent.Mobile carriers traded bearish, with SK Telecom m