The nation’s three investigative agencies on financial transactions and the central bank will collaborate on inquiries into alleged corporate tax evaders via investment in overseas tax havens.Officials at the Financial Supervisory Service said the regulator plans to actively exchange a variety of information on offshore investors with the National Tax Service, the Korea Customs Service and the Bank of Korea.This is the first time in about eight years since 2005 for the agencies to seek joint inv

South Korean stocks sank 1.52 percent Wednesday as lingering uncertainties on monetary policies of major economies made investors jittery, analysts said. The local currency gathered ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index retreated 30.32 points to close at 1,959.19. Trading volume was moderate at 326.3 million shares worth 3.93 trillion won ($3.49 billion) with decliners far outpacing gainers 644 to 178. “With the U.S. talking about tapering its quantitati

South Korean stocks sank 1.52 percent Wednesday as lingering uncertainties on monetary policies of major economies made investors jittery, analysts said. The local currency gathered ground against the U.S. dollar.  The benchmark Korea Composite Stock Price Index (KOSPI) retreated 30.32 points to close at 1,959.19. Trading volume was moderate at 326.3 million shares worth 3.93 trillion won (US$3.49 billion) with decliners far outpacing gainers 644 to 178.   "With the U.S. talking about tapering i

South Korean stocks traded 0.8 percent lower late Wednesday morning, as large-cap tech firms and brokerage houses widened losses, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) dipped 15.98 points to 1,973.53 as of 11:20 a.m.   Leading home appliance maker LG Electronics fell 2.5 percent, and No. 2 brokerage firm KDB Daewoo Securities slid 1.8 percent.   But top-listed company Samsung Electronics inched up 0.13 percent.   The local currency was changing hands at 1,119.7

South Korean stocks opened lower Wednesday, dented by losses in shares of air carriers and construction firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.38 points, or 0.22 percent, to 1,985.13 in the first 15 minutes of trading. Korean Air Lines, the country's leading air carrier, sank 1.3 percent, with No. 1 builder Hyundai Engineering & Construction sliding nearly 1 percent. The local currency was trading at 1,124.45 won against the U.S. dollar, down 2.25 wo

Minister Hyun, BOK chief Kim discuss global finance, job growth at first meeting

87 staff recklessly accessed customer information: FSS

Korea Exchange Bank on Tuesday opened a website for foreign residents offering financial and nonfinancial information in four languages: English, Chinese, Japanese and Vietnamese.The website, dubbed “EasyOne for foreigners,” provides non-nationals with a variety of “information on Korean society” as well as Internet banking services, said the commercial bank.KEB said it expected that more consumers would also easily access financial benefits of the EasyOne service via the Internet, whereas befor

Nearly 85 percent of local firms established in tax havens are linked to the shipping industry, data showed Tuesday, raising concerns of excessive public distress over offshore local companies.According to the data compiled by CEO Score, a corporate researcher, the country’s 16 business groups have established 281 companies in seven major tax havens, with 238 of them linked to the shipping industry.It is widely accepted for a shipper to establish offshore special purpose companies, especially wh

Hyundai Motor Co. said Tuesday that it has delivered 15 hydrogen fuel-cell vehicles to Denmark in the top South Korean automaker’s first such sale after it began assembly-line production of zero-emission cars in February.Copenhagen, the capital city of Denmark, plans to use hydrogen fuel cell versions of Hyundai’s popular Tucson ix sport utility vehicle as official vehicles, Hyundai said.Copenhagen City officials were not immediately reached for comment on late Monday.The move comes three months

South Korean stocks closed almost unchanged Tuesday, as increased bets by foreign investors in local equities were offset by selling by retail and institutional investors amid eased currency woes, analysts said. The localcurrency rose against the U.S. dollar.  After bobbing in and out of negative terrain, the benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.06 point, holding almost steady at 1,989.51. Trading volume was moderate at 329.1 million shares worth 3.91 trillion won (US$2.

South Korean stocks turned lower late Tuesday morning after starting higher, as blue-chip tech and financial firms shifted to negative territory, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) slid 7.42 points, or 0.37 percent, to 1,982.15 as of 11:20 a.m.   Tech giant Samsung Electronics fell 0.4 percent, with No. 4 banking group Shinhan Financial declining more than 1 percent.   In contrast, steelmakers and heavy industries were bullish. Hyundai Steel, a major steelma

South Korean stocks got off to a strong start Tuesday, as a rising Japanese currency lifted investor sentiment here, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 9.40 points, or 0.47 percent, to 1,998.97 in the first 15 minutes of trading. Most shares gathered ground across the board, with large-cap exporters leading the gain. Market behemoth Samsung Electronics inched up 0.2 percent, and No. 1 carmaker Hyundai Motor advanced 0.7 percent. The yen rebounded to 99