South Korean stocks traded 0.2 percent lower late Thursday morning, led by losses in autos and builders, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.78 points to 1,931.80 as of 11:20 a.m.   Carmakers traded lower, with No. 1 player Hyundai Motor falling 2.99 percent and its smaller affiliate Kia Motors losing 0.38 percent. Top auto parts maker Hyundai Mobis shed 3.04 percent.   Construction firms also lost ground, with Hyundai Engineering & Construction decre

NongHyup Bank, the banking unit of South Korean financial holding company NongHyup Financial Group Inc., said Wednesday its online and smartphone banking system was paralyzed for an unknown reason.The bank said that an error occurred at 6:20 p.m. at its operating system located in Anseong, 77 kilometers from Seoul. The online transaction system remained malfunctioning as of 7:35 p.m."No hacking activities were identified behind the failure," an official from the bank said. "We are currently maki

South Korean stocks closed 0.77 percent higher Wednesday, buoyed by easing Chinese inflation data that offset heightening fears over North Korea’s repeated war threats, analysts said. The local currency inched up against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 14.84 points to finish at 1,935.58. Trading volume was light at 312.4 million shares worth 4.08 trillion won ($3.57 billion) with advancers far outpacing decliners 640 to 187. “A country’s economic policy s

The state-controlled KDB Financial Group has shifted its policy direction under the Park Geun-hye administration away from privatization.The future business policies of KDB Financial can be seen via the inaugural speech of its new chairman Hong Ky-ttack, who took office this week.Hong said the financial group would bolster its long-standing role as the nation’s leading provider of policy loans for state projects.His remarks could mean that the Park government has scrapped the earlier project of

   SEOUL -- South Korean stocks closed 0.77 percent higher Wednesday, buoyed by easing Chinese inflation data that offset heightening fears over North Korea's repeated war threats, analysts said. The local currency inched up against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.84 points to finish at 1,935.58. Trading volume was light at 312.4 million shares worth 4.08 trillion won (US$3.57 billion) with advancers far outpacing decliners 640 to 187.   "A c

South Korean stocks traded 0.62 percent higher late Wednesday morning, led by gains in steelmakers and chemical firms, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) advanced 11.96 points to 1,932.70 as of 11:20 a.m.    Blue-chip local zinc smelter Korea Zinc soared more than 4 percent and leading chemical maker LG Chem jumped 3.2 percent.  In contrast, defensive shares lost ground, with state-run gas provider Korea Gas Corp. falling nearly 2 percent. Top-cap Samsung El

The Korean won has fallen the most against the dollar among global currencies this year after the Japanese yen.The won lost more than 6 percent between January and April 8 this year, losing more of its value against the dollar than 28 other currencies including the euro, the British pound and the Canadian dollar, according to data by the Bank of Korea.The Philippine peso shed 0.70 percent, and Malaysian ringgit 0.07 percent, one of the lowest falls against the dollar among Asian currencies, whic

South Korea’s financial regulator said Tuesday that it has instructed commercial banks to roll over their loans issued to companies operating at the inter-Korean Gaeseong Industrial Complex.The Financial Supervisory Service’s regulatory policy came after North Korea suspended operations of the complex by withdrawing most of its workers in the North’s border city between Monday and Tuesday.“In a bid to minimize losses to South Korean companies operating in Gaeseong, banks will abstain from retrie

Concerns rise as debt accounts for 33% of GDP

The top five conglomerates’ presence in the local stock market reached an all-time high last month, data showed Tuesday, as exporters gathered ground on the global economic recovery.The combined market capitalization of the top five business groups’ listed affiliates reached 636.2 trillion won ($555.1 billion) as of end-March, according to the data compiled by the bourse operator Korea Exchange.The number accounts for 54.8 percent of the combined market cap of the companies listed on the main bo

South Korean experts on carbon emission trading on Tuesday called on the government to delay the start of its system slated for 2015, saying it may hurt local industry. The system requires companies to take action to reduce greenhouse gas emission levels or buy rights to release gases if they are unable to do so. Companies can also sell emission rights and receive cash payments.“It is necessary to rearrange the schedule to enforce the carbon emission trading system as it may have a negative impa

South Korean stocks closed almost flat Tuesday as investors’ sentiment was dented by the heightened tension with North Korea, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up 2.06 points, or 0.11 percent, to close at 1,920.74. Trading volume was moderate at 347.2 million shares worth 3.79 trillion won ($3.31 billion), with decliners outnumbering gainers 508 to 293.“The tension on the Korean Peninsula is expected to continue