NongHyup Bank’s lax handling of customers’ private information was hit by controversy again, only three months after the March 20 hacking fiasco involving its customer database, sources said Wednesday.One of the bank’s local branches allegedly violated the regulation on the safe disposal of customer information, leaking about 10,000 customers’ personal data on June 15.The branch officials handed over the documents to secondhand dealers who collect street waste and re-sell it to recycling compani

Korea expected to keep key interest rate steady this year

Cashable assets held by South Korean business groups climbed 10.9 percent in the first quarter from three months earlier, as they reduced investment amid economic uncertainty, data showed Wednesday.South Korea’s top 10 business groups held 147.3 trillion won ($127.5 billion) in cashable assets as of end-March, compared to 132.8 trillion won tallied in end-December 2012, the data compiled by CEO Score showed.Cashable assets cover cash, cash equivalents and other financial products with a maturity

The facility investment of South Korean manufacturers is expected to grow slightly in the second half of the year thanks to their plans to improve superannuated facilities, a poll showed Wednesday.According to the survey of 1,000 manufacturers by the Korea Chamber of Commerce and Industry, 34.4 percent of the respondents said that they will increase their capital spending to improve superannuated facilities in the second half of the year compared with a year ago, while 22.2 percent said they wil

South Korean stocks closed almost flat after a choppy session on Wednesday, as no clear sign on the U.S.'s next move regarding their monetary policies added jitters to investor sentimentThe benchmark Korea Composite Stock Price Index (KOSPI) finished up 2.82 points, or 0.16 percent to 1,783.45. Trading volume was light at 292.4 million shares worth 4.04 trillion won ($3.49 billion) with gainers far outpacing decliners 610 to 216. "Investors are showing their distrust toward policies, especially

South Korean stocks pared earlier gains to trade 0.1 percent lower late Wednesday morning, dented by losses of Samsung Electronics Co.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.8 points to 1,778.83 as of 11:20 a.m.   Top-cap Samsung Electronics slumped more than 2.5 percent, driving down the main index. The tech heavyweight accounts for about 17 percent of the KOSPI's total market cap.   In contrast, other blue-chip exporters gathered ground, with Kia Motors, an automaker,

South Korean stocks opened higher Wednesday as China's central bank announced Tuesday it may add more liquidity to the market amid worries that the economy there is slowing down, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.58 points, or 0.59 percent, to 1,791.21 in the first 15 minutes of trading.Tech blue chips gathered ground, with LG Electronics rising 2.3 percent and top chipmaker SK hynix adding 2.03 percent. Top flat panel maker LG Dispay gained 1.93 per

The government said Wednesday that it plans to sell Woori Finance Holdings Co. in three batches by the end of next year, its fourth attempt since 2010 to recoup massive amounts of taxpayers' money, which were spent to save the country's largest banking group.The Financial Services Commission (FSC), the country's financial regulator, said it will put 14 units of Woori Finance up for sale in the three groups -- its mainstay Woori Bank, two regional banks, and other units including a brokerage hous

Private sector asked to lead in achieving 3% growth in 2nd half

Risk measure for Korea almost doubles in two months

South Korea’s bourse operator said Tuesday it has selected 21 firms to be listed on the Korea New Exchange market, which is set to launch in July to assist the growth of small players.Earlier this month, 10 brokerage houses, which were selected as authorized supervisors by the Korea Exchange to evaluate and supervise firms to be listed on the envisioned market, handed in the list of 21 candidates.“The KRX finalized the list based on the firms’ growth potential as well as leadership of their mana

South Korea and China will hold a fresh round of negotiations for a bilateral free trade agreement early next month, the Seoul government said Tuesday.The sixth round of the FTA negotiations between Seoul and Beijing will be held July 2-4 in South Korea’s largest port city of Busan, according to the Ministry of Trade, Industry and Energy.“At the upcoming round of negotiations, the two sides will work to come up with a draft on the modality of their FTA negotiations, and also work to reach an agr