South Korean stocks got off a strong start Friday, tracking the gains seen in U.S. peers overnight on better economic data, analyst said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 9.21 points or 0.47 percent to trade at 1,983.48 in the first 15 minutes of trading. Most shares trended in positive terrain, with utilities and brokerage houses leading the gain. State-run electricity provider Korea Electric Power Corp. jumped about 2.5 percent with No. 2 player Woori Investment

Regulatory action aimed at uncovering irregular service fees

South Korean stocks closed marginally lower Thursday, as overseas investors continued to dump shares amid lingering economic jitters and a strong local currency, analysts said. The Korean won edged up against the U.S dollar.The benchmark Korea Composite Stock Price Index shed 3.18 points, or 0.16 percent, to finish at 1,974.27. Trading volume was heavy at 821.3 million shares worth 4.06 trillion won ($3.84 billion) with losers outnumbering gainers 450 to 342. “Investor sentiment has become more

The Bank of Korea is expected to brief the transition team of President-elect Park Geun-hye on overall monetary policy and economic outlook on Friday.BOK officials said that the subjects presented would range from overviews of its monetary policy to household debt and its economic forecast for 2013. Although the team’s official policy briefing ended on Thursday with the statistics bureau, the team included the central bank at the last minute after it had omitted it from the seven-day briefing sc

South Korean stocks closed marginally lower Thursday, as overseas investors continued to dump shares amid lingering economic jitters and a strong local currency, analysts said. The Korean won edged up against the U.S dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.18 points, or 0.16 percent, to finish at 1,974.27. Trading volume was heavy at 821.3 million shares worth 4.06 trillion won (US$ 3.84 billion) with losers outnumbering gainers 450 to 342. "Investor sentiment has b

South Korean stocks traded 0.21 percent lower late Thursday mornings, as earlier gains in tech blue-chips and shipping lines pared down, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.12 points to 1,973.33 as of 11:20 a.m.Tech heavyweight Samsung Electronics dipped 1.7 percent, with chipmaker SK hynix losing nearly 1 percent. The country's leading bulk shipping firm STX PanOcean slumped around 4 percent. In contrast, autos and brokerage houses advanced, with indust

Analysts from South Korean securities firms cast mixed forecasts for the central bank's interest rate policy this year as they are divided over the overall strength of the economic recovery, a survey showed Thursday.In a split decision, the Bank of Korea (BOK) froze the key rate at 2.75 percent for the third straight month on Friday as some economic indicators show signs of improvement despite the protracted economic slowdown. The BOK also cut its 2013 growth outlook to 2.8 percent from 3.2 perc

South Korea's producer prices fell by the most in more than three years in December mainly because the local currency sharply appreciated to the U.S. dollar, the central bank said Thursday.The producer price index, a barometer of future consumer inflation, fell 1.2 percent in December from a year earlier, compared with a 0.9 percent on-year fall in November, according to the Bank of Korea (BOK). The December figure marked the largest fall since a 3.1 percent on-year fall in October 2009.Compared

South Korean stocks got off to a strong start Thursday, fueled by gains in large-cap shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.68 points, or 0.39 percent, to 1,985.13 in the first 15 minutes of trading. Top-cap Samsung Electronics inched up 0.13 percent, with No. 1 carmaker Hyundai Motor rising 1.6 percent. In contrast, utilities and textile firms lost ground, with state-run electricity provider Korea Electric Power Corp. sliding nearly 2 percent. T

Customs agency follows NTS to battle tax evaders, secure welfare funds

Whiskey sales in South Korea fell sharply last year due to a persistent economic slump and sluggish domestic consumption, industry data showed Wednesday.According to data compiled by the Korea Alcohol & Liquor Industry Association, a total of 2.12 million boxes were sold last year, down 11.6 percent from 2.4 million boxes sold in 2011. Each box contains 18 0.5-liter bottles. With the latest decline, whiskey sales have declined for four consecutive years since 2009 when sales of the hard liquor d

With the presidential transition committee’s announcement of a government reorganization plan on Tuesday, names of possible candidates for top economic policymakers are being circulated among financial circles.They include three key ministerial posts: deputy prime minister in charge of overall economic policies, who will concurrently serve as finance minister; chairman of the Financial Services Commission; and governor of the Financial Supervisory Service.Among the leading candidates for the inc

South Korean stocks closed almost flat Wednesday as investors took to the sidelines amid bleak corporate earnings, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 1.94 points, or 0.1 percent to finish at 1,985.68. Trading volume was moderate at 372.1 million shares worth 2.94 trillion won (US$2.77 billion) with decliners outpacing gainers 416 to 365. "It's hard to say corporate earnings have been satisfactor