South Korean stocks closed nearly flat Friday as investors sat on their hands due to uncertainties over U.S. jobs data and the Fed's move to taper its monthly debt purchases, analysts said. The local currency closed higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.66 points, or 0.19 percent, to finish at 1,955.31. Trading volume was moderate at 318.8 million shares worth 4.23 trillion won ($3.87 billion) with losers outpacing gainers 446 to 344.Ana

South Korean stocks opened higher Friday due to gains on Wall Street in the previous trading session amid improved industry data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.75 points, or 0.14 percent, to 1,954.40 in the first 15 minutes of trading.Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor rising 1.64 percent and top steelmaker POSCO rising 0.46 percent. Leading auto parts maker Hyundai Mobis advanced 0.18 percent.U.S. stocks

Debates on whether to raise incomes taxes on the wealthy will likely be heated between ruling and opposition lawmakers during the September plenary session of the National Assembly.While the governing Saenuri Party had taken a skeptical stance over demands to increase the tax burden on the high-income bracket, opposition lawmakers have revived the issue.Along with the opening of the plenary session, 10 lawmakers of the main opposition Democratic Party proposed a motion to raise the upper ceiling

South Korea has successfully sold dollar-denominated currency stabilization bonds worth $1 billion, the finance ministry said Thursday.This comes a day after the ministry said that it launched the official process for the bond sale with the selection of its lead managers.“We successfully sold $1 billion worth of dollar-denominated currency stabilization bonds with a 10-year maturity at 1:15 a.m. with a great amount of interest from investors in the U.S., Europe, Asia and across the world,” the m

South Korea continues to see its recovery momentum remain “subdued” but the latest indicators are pointing to a “moderate” improvement down the road, a state-run think tank said Thursday.“Korea’s economy remained subdued, but indicators are increasing turning positive, signaling a moderate improvement,” the Korea Development Institute said in its monthly report analyzing the latest economic trend. The report is based on major indicators recently unveiled by the government including corporate inv

Asiana Airlines Inc., South Korea’s No. 2 flag carrier, said Thursday that it will begin to cut the number of flights to two Japanese cities next month as a weaker yen takes its toll on the airline business.The carrier said it will cut its number of weekly flights to four from the current seven on the Incheon-Sendai route, beginning early next month. Sendai is one of the places hit hardest by the devastating earthquake and tsunami in 2011. Asiana, however, said the planned cut has nothing do wit

LOS ANGELES (Yonhap News) ― Kia Motors America, the U.S. sales arm of South Korea’s Kia Motors Corp., said Wednesday that it has been enjoying brisk sales of its Cadenza full-size luxury sedan in the United States, selling nearly 5,000 units so far this year. Kia introduced the Cadenza in the United States in April to try to gain a foothold in the country’s premium car market.Kia sold 1,677 Cadenzas in the U.S. in August, bringing the total number of Cadenzas sold this year to 4,832, according t

South Korea’s insurance companies plan to slash their employees’ salaries, industry sources said Thursday, amid the rising criticism that insurers are giving excessive paychecks despite their weak performances.The move also comes in line with the government’s move to impose stricter rules on local insurers by providing a guideline on the firms’ wage system, in an apparent bid to protect policyholders and shareholders’ rights.“As insurers are operated with policyholders’ premiums, their manner of

Korea’s gross national income rose 2.9 percent in the second quarter of this year compared with the previous quarter, the highest increase in four years, the Bank of Korea said Thursday.The central bank attributed the rise in real GNI per capita to brisk trade and increased income from Koreans working abroad. The country’s GNI growth has been falling since the second quarter of last year when the rate was 1.5 percent, then slid to 0.7 percent in the third quarter of 2012 and 0.3 percent in the f

South Korean stocks closed 0.96 percent higher Thursday as investor sentiment was boosted on abated woes over the Syrian crisis, analysts said. The local currency closed higher against the greenback.The benchmark Korea Composite Stock Price Index (KOSPI) gained 18.62 points to finish at 1,933.03. Trading volume was low at 281.9 million shares worth 4.41 trillion won (US$4.04 billion) with gainers outpacing losers 500 to 309.Analysts said Seoul shares closed higher as U.S.-led military action on

South Korean stocks traded 0.72 percent higher on gains in carmakers and insurers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 13.83 points to 1,946.86 as of 11:20 a.m.Carmakers gathered ground, with Hyundai Motor adding 0.41 percent and its smaller affiliate Kia Motors climbing 0.92 percent. Top auto parts maker Hyundai Mobis added 1.98 percent.Insurers also gathered ground, with Samsung Life adding 0.5 percent and Hanwha Life increasing 2.13 percent. Dongbu Ins

South Korean stocks opened higher Thursday as investors' sentiment was boosted by reports that the U.S.-led military action against Syria will be limited to 60 days, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 7.63 points, or 0.39 percent, to 1,940.66 in the first 15 minutes of trading.Carmakers also traded higher, with Hyundai Motor rising 0.62 percent and its auto parts affiliate Hyundai Mobis gaining 1.26 percent. Shipbuilder Hyundai Heavy Industries added 0