South Korean stocks closed 0.2 percent lower Friday as improved economic data sparked concerns over a reduction in the U.S. quantitative easing, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.8 points to finish at 1,920.11. Trading volume was moderate at 334.8 million shares worth 3.55 trillion won ($3.19 billion) with losers outpacing gainers 429 to 354.Analysts said Seoul shares lost ground due on the market outlo

South Korean stocks traded 0.47 percent lower late Friday morning due to losses in techs and brokerages, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.08 points to 1,914.83 as of 11:20 a.m.Tech shares continued to fall, with market behemoth Samsung Electronics losing 0.85 percent and its domestic rival LG Electronics decreasing 2.24 percent. Top chipmaker SK hynix shed 1.54 percent.Brokerage houses also traded lower, with Samsung Securities losing 0.66 percent and

South Korean stocks opened lower Friday tracking overnight losses on Wall Street as an improved economic data sparked concerns over a reduction in the U.S. quantitative easing, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 16.20 points, or 0.84 percent, to 1,907.71 in the first 15 minutes of trading.Tech shares closed bearish, with No. 1 player Samsung Electronics plunging 1.08 percent and top chipmaker SK hynix falling 1.2 percent. Top flat panel maker LG Display sh

Korea No.1 in OECD in self-employed sector’s contribution to underground economy

President Park’s vision for policy financing to be unveiled later this month

Deputy Prime Minister and Finance Minister Hyun Oh-seok said that the government will not make any changes to its welfare policy following the readjustment of its tax code revision.The administration’s 135 trillion won ($120.6 billion) budget for welfare expansion will not be reduced, and it will stick to the plan it pledged for the lower and middle class, the finance minister stressed to reporters after an economic-related meeting on Wednesday.The ministry’s latest modification of the revision,

South Korean stocks closed 0.57 percent higher Wednesday as the U.S. is anticipated to keep its economic stimulus for the time being, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 10.88 points to finish at 1,923.91. Trading volume was moderate at 357.1 million shares worth 4.06 trillion won ($3.62 billion) with gainers outpacing losers 447 to 338.The Atlanta Federal Reserve president, Dennis Lockhart, implied Tuesday

The new head of KB Financial Group Inc. reiterated Wednesday that it is looking into possible options to strengthen its non-banking business ahead of the government's impending move to sell Woori Finance Holdings Co.'s brokerage units.Group Chairman Lim Young-rok, who took office a month earlier, said that as the group has heavily focused on its banking business, it is striving to strengthen the competitive edge of its non-banking business."The group is currently studying possible options by rev

SEOUL, Aug. 14 (Yonhap) -- South Korean stocks traded almost flat late Wednesday morning due mainly to a weak growth momentum in the market, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 0.63 points, or 0.03 percent, to 1,913.66 as of 11:20 a.m.Blue chip exporters led the gain, with top chipmaker SK hynix adding 2.3 percent and No. 1 carmaker Hyundai Motor climbing 1.76 percent. Leading steelmaker POSCO moved up 0.45 percent.Mobile carriers traded mixed, with leadin

Government modifies revision to ease tax burden for mid-income brackets

The number of direct debit cards issued in South Korea has topped 100 million early this year on the back of the government’s move to bolster their use for larger tax revenue, data showed Tuesday. The figure reached 102 million at the end of March, growing rapidly from 81 million in the same month in 2011, 93 million in March 2012 and 99 million as of December 2012, according to the data by the Financial Supervisory Service. The brisk growth in the number of debit cards came as the government ha

SEOUL, Aug. 13 (Yonhap) -- South Korean stocks rallied 1.5 percent on Tuesday on brighter outlook over the eurozone economy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 28.2 points to finish at 1,913.03. Trading volume was moderate at 358.1 million shares worth 4 trillion won (US$3.59 billion) with gainers outpacing losers 406 to 377."Seoul shares gathered ground as the eurozone economy is expected to post a growth