South Korean stocks ended 0.21 percent lower on Friday as investors stepped to the sidelines amid lingering concerns over economic uncertainties and ahead of the release of U.S. jobs data over the weekend, analysts said Friday.The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) dipped 4.15 points to 1,957.79. Trading volume was moderate at 378.1 million share worth 4 trillion (US$3.7 billion), with decliners dwarfing gainers 534 to 273."There w

South Korean stocks traded 0.68 percent lower late Friday morning as investors took to the sidelines ahead of a U.S. jobs data release this weekend, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.25 points to 1,948.69 as of 11:20 a.m.Large caps were mixed. Market bellwether Samsung Electronics lost 1.31 percent but auto-parts maker Hyundai Mobis gained 1.4 percent.Doosan Heavy Industries & Construction sank 6.98 percent on rumors about a rights issue.The local curr

South Korean stocks shifted to negative territory after opening higher as investors took to the sidelines ahead of the expected release of U.S. jobs data this weekend, analysts said Friday.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.62 points, or 0.18 percent, to 1,958.32 in the first 15 minutes of trading.Market bellwether Samsung Electronics slipped 0.14 percent and top oil refiner SK Innovation fell 1.46 percent.In contrast, autos outperformed the KOSPI, with auto-parts mak

Finance Ministry says risky factors drag on despite signs of economic recovery

South Korea’s financial regulator said Thursday it will submit a bill that would allow financial firms to invest in their non-profit affiliates, a move to loosen rules following a controversy over the banning of a local bank from funding its affiliated high school. The Financial Services Commission unveiled the bill, which excludes financial firms’ non-profit entities from those banned from transferring assets within firms under the same ownership.The bill is set for a 40-day public comment peri

South Korean stocks ended 0.13 percent lower on Thursday mainly due to losses in banks and insurers. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 2.49 points to 1,961.94. Trading volume was moderate at 394.3 million shares worth 4.4 trillion won ($4 billion), with decliners outnumbering gainers 445 to 370.“Basically, we didn’t have much good news from abroad. There were concerns over U.S. growth as well as the Italian stock market’s sharp f

The number of licensed money lenders in South Korea has halved in the last five years, largely due to worsening business conditions, industry data showed Thursday. The number of money lenders registered with municipalities reached 9,170 as of last Friday, down 49.6 percent from 18,500 tallied in 2007, according to the data by the Consumer Loan Finance Association. The sharp decline came as local money lenders have been facing difficulties in running their businesses as the financial authorities

The nation’s main bourse has not been excluded from the yearly list of public agencies, the Ministry of Finance announced Thursday.In its unveiling of the 2013 list for public agencies, the Finance Ministry said the Korea Exchange will still be placed under state control this year. The government has “no stake” in the bourse.While the ministry under the Lee Myung-bak administration designated it as a public agency in 2009, there has been growing criticism as no such case exists in financial mark

South Korean stocks ended 0.13 percent lower on Thursday mainly due to losses in banks and insurers. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.49 points to 1,961.94. Trading volume was moderate at 394.3 million shares worth 4.4 trillion won (US$4 billion), with decliners outnumbering gainers 445 to 370."Basically, we didn't have much good news from abroad. There were concerns over U.S. growth as well as the Italian stock market

South Korean stocks traded 0.22 percent lower late Thursday morning due to losses in shares of major banking groups and technology firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.36 points to 1,960.07 as of 11:20 a.m.Financials led the decline, with Shinhan Financial slumping 3.34 percent. Market bellwether Samsung Electronics also slipped 0.21 percent.Automakers limited losses, with No. 2 carmaker Kia Motors adding 2.77 percent.The local currency was changing

South Korean stocks started lower on Thursday, tracking overnight losses in the U.S. stock market, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.98 points, or 0.05 percent, to 1,963.45 in the first 15 minutes of trading.Financials led the loss with KB Financial and Shinhan Financial falling 2.89 percent and 2.98 percent, respectively.Samsung Electronics, the country's top market cap, also lost 0.14 percent.The local currency was trading at 1,087.25 won against t

Income disparity among Koreans aged 65 and older is widening as the population rapidly ages with fewer job opportunities for the elderly.Income inequality in Korea among those 65 and older reached an all-time high of 0.419 on the Gini index in 2011, according to the country’s statistics bureau and the Korea Labor Institute.The number broke the 0.5 mark after measuring incomes after subtracting public assistance funds and basic insurance benefits for senior citizens.A coefficient approaching 1 si

The ratio of female executives at South Korea’s top conglomerates reached 1.5 percent, data showed Wednesday, raising concerns over the severe gender imbalance in the local firms’ C-suite.Women accounted for 77 of the total 5,201 executives at 94 affiliates of the country’s 10 major business groups as of Friday, according to the data compiled by research firm CEO Score.Samsung Group, South Korea’s top conglomerate, employed 39 high-ranking female officials, accounting for more than half of the t

Hana Bank, South Korea’s No. 4 bank, said Wednesday that it has raised $500 million by selling global bonds in order to repay maturing foreign currency debt. The lender said the three-year bonds carry an interest rate of 1.375 percent, which translates into a rate of 1.05 percentage points higher than the yield on three-year U.S. Treasuries.The debt sale was co-arranged by five foreign investment banks, including Barclays and BoA-Merrill Lynch, the bank added. (Yonhap News)

South Korean stocks closed 0.43 percent higher Wednesday as local exporters continued to rebound from their recent losses on the improved foreign exchange market conditions, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 8.47 points to 1,964.43. Trading volume was high at 515.9 million shares worth 4.2 trillion won (US$3.87 billion) with gainers outnumbering decliners 425 to 367."The local stock market recouped some