The currencies of 15 emerging markets have all weakened against the U.S. dollar as the election of Donald Trump to the U.S. presidency sparked concerns about capital outflow, data showed Saturday.The foreign exchange rate of 15 emerging countries, including South Korea, rose against the greenback as of Thursday, meaning a weakening of currency value, compared with Tuesday when Trump won the presidential election, according to Daishin Securities Co. Currency trader in S. Korea (Yonhap)The FX rate

The South Korean financial sector is gearing up for turbulence in the global market in light of the high possibility of a US interest rate hike and the impact of the US presidential election.Lee Ju-yeol, governor of the Bank of Korea, said Friday that the central bank would take timely measures to ease growing market anxiety if the uncertainties spread across the sectors, posing a threat to the financial system.  “It is still hard to judge how significant the impact of the surprising US election

South Korean households' real income and spending retreated in the third quarter from a year earlier amid a protracted economic slowdown, a government report showed Friday.An average household earned 4.44 million won ($3,700) per month in the July-September period, up 0.7 percent from the same period last year, according to the report by Statistics Korea.But their inflation-adjusted real income fell 0.1 percent on-year over the cited period, while the country's consumer prices index has hovered

The burden of mortgages on households is rapidly increasing as interest rates continue to rise amid growing uncertainties in the global financial market after the US presidential election win by Donald Trump. According to the banking industry Thursday, interest rates of both fixed and floating mortgages at major commercial banks have risen by more than 0.1 percentage point compared to late October. KEB Hana Bank’s fixed rate for five-year mortgages rose from between 3.20 and 4.4 percent to betwe

Stocks of Doosan Infracore Co. traded at a yearly high on Thursday as the country's leading construction equipment maker is set to benefit from USPresident-elect Donald Trump's proposed plan to spend massive amounts of money on infrastructure, its cost-cutting efforts and the market debut of an affiliate, industry sources said Thursday.Doosan Infracore changed hands at 10,000 won ($8.50) on the Seoul bourse as of 10:31 a.m., up 3.63 percent from the previous session's close, hitting a 52-week hi

Insurance holders are less likely to default on their financial borrowings, showed the nation’s first big data analysis by a government institution on Tuesday. According to the results of an analysis of credit information of around 760 million consumers by Korea Credit Information Services, there is some correlation between insurance subscription and repayment of loans.Among 18 million borrowers (aged over 20) who took loans from the period between June 2015 and June 2016, those who were holding

Korea’s sovereign wealth fund Korea Investment Corp. will lower barriers for smaller local funds to be eligible for entrustment to seek economies of scale in its overseas investments, the government said Tuesday.The Ministry of Strategy and Finance said the government agreed at a Cabinet meeting on the revision of the KIC-related act to induce more entrustment of the local institutions into the KIC and expand the scope of KIC’s investment targets.According to the government’s plan, the KIC will

AXA Group, a Paris-based multinational insurance group, will expand its presence into the general insurance market in South Korea next year, the group’s Seoul subsidiary confirmed on Tuesday. According to AXA Direct Korea, the group will invest 25 billion won ($21.4 million) in the Seoul-based subsidiary in a bid to increase the general insurance business of the company, moving beyond the originally-focused direct car insurance market. CEO Francois Lecomte, who visited the group headquarters las