South Korean stocks traded almost flat late Monday morning due mainly to a lack of market momentum, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 0.99 points, or 0.05 percent, to 2,053.39 as of 11:20 a.m.Tech shares lost ground, with market behemoth Samsung Electronics falling 0.2 percent and top chipmaker SK hynix losing 1.16 percent. Flat panel maker LG Display shed 0.6 percent.Carmakers traded mixed, with No. 1 player Hyundai Motor adding 2.14 percent and its aut

South Korean stocks opened higher Monday as investor sentiment got a boost from rising hope that the U.S. may delay the tapering of its quantitative easing moves, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 7.64 points, or 0.37 percent, to 2,060.04 in the first 15 minutes of trading.Blue-chip shares led the market gain, with tech giant Samsung Electronics adding 1.02 percent and the country's No. 1 portal operator NAVER advancing 5.16 percent. Oil refiner SK In

The Ministry of Strategy and Finance said it would delay the expiration of the regulation limiting the distance between tobacco retail outlets to 2018.The regulation, which states that all stores selling tobacco products must be at least 50 meters apart, was slated to expire this year.Ministry officials said the government made the decision to alleviate heated competition among retailers and to prevent easy access for teens.News reports said about 40 percent of sales at convenient stores come fr

The South Korean stock market is expected to continue its upward trend this week as foreigners are anticipated to maintain their buying rally amid eased woes over the U.S. political impasse, analysts said Saturday.The country’s key stock index, the KOSPI, advanced 1 percent last week to close at 2,052.40 on Friday.Earlier last week, the local stock market was dented by concerns stemming from political tension in the U.S. over its debt limit.However, the market returned to growth later in the wee

South Korea and Malaysia have signed a won-ringgit currency swap deal worth $4.7 billion as part of efforts to strengthen financial cooperation between the two nations, the Korean central bank said Sunday.Under the three-year currency swap facility, the two countries can exchange 5 trillion won for 15 billion ringgit or vice versa, which could also be used to settle payments linked to their bilateral trade, the Bank of Korea said in a statement.The BOK said that the deal can be extended upon agr

FSS chief hints he has evidence of more funding irregularities

Ten financial firms including Shinhan Financial Group made the shortlist to acquire two smaller banks of state-invested Woori Finance Holdings Co., the financial watchdog said Friday. The Financial Services Commission (FSC) said that the committee on overseeing sales of public assets selected 10 bidders out of 11 candidates for the group's two smaller units -- Kwangju and Kyongnam -- after reviewing their proposals.Shinhan Financial, the country's No. 4 banking group, is seeking to buy Kwangju B

South Korean stocks traded 0.13 percent higher late Friday morning on eased U.S. financial woes, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 2.59 points to 2,043.20 as of 11:20 a.m.Tech shares continued to lead the gain, with market behemoth Samsung Electronics advancing 0.62 percent and top chipmaker SK hynix rising 2.07 percent. Flat panel maker LG Display gained 2.26 percent.Cash-strapped Tong Yang Group, in contrast, fell by its daily permissible limit of 14.8

South Korea's financial watchdog said Friday that it plans to preemptively pursue corporate overhaul in a bid to prevent a potential default of ailing firms from weighing on the economy and the banking sector.The Financial Supervisory Service (FSS) said in a report for the annual parliamentary audit that it plans to select companies for corporate restructuring by taking into account their financial health as well as potential risks."The FSS plans to seek for corporate overhaul in a speedy and co

South Korean stocks opened higher Friday as investors' sentiment got a boost from a breakthrough in the U.S. debt ceiling talks, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.84 points, or 0.14 percent, to 2,043.45 in the first 15 minutes of trading.Tech shares led the market gain, with market behemoth Samsung Electronics adding 0.41 percent and leading chipmaker SK hynix rising 1.33 percent. Flat panel maker LG Display gained 2.88 percent.Mobile carriers trade

Five units of troubled conglomerate go under court receivership

Bipartisan deal in U.S. further spurs foreign funds to Korea