South Korea’s per-capita gross domestic product is estimated to only marginally inch up in 2012 compared with the previous year due to the slowing economy, a report showed Sunday.Korea’s per-capita GDP is estimated to reach $22,705 in 2012, up 1.3 percent from a year earlier, according to a report by Korea Investment & Securities Co.In calculating the figures, the full-year economic growth rate was estimated at 2.3 percent and the local currency was set at an average of 1,127.1 against the dolla

South Korea’s stock market will likely remain choppy with no clear direction this week amid mounting concerns over corporate earnings in the fourth quarter of this year, analysts said.Earnings estimates are expected to come down for the fourth-quarter, Park Jung-sup, an analyst at Daishin Securities.FnGuide Inc., a financial information provider, has said 114 major listed companies are forecast to report a combined operating profit of 30.4 trillion won ($28 billion) for the October-December peri

Trade Minister Bark Tae-ho will sign up as a candidate for director-general of the World Trade Organization, the ministry said Friday."The government has decided that Trade Minister Bark Tae-ho will run for WTO director-general to be elected by late May next year. His candidacy will be registered through the Permanent Mission of the Republic of Korea to the U.N. Secretariat and International Organizations in Geneva,"  the ministry said in a statement.Incumbent WTO director-general Pascal Lamy’s

South Korean consumers’ confidence stayed below par for the fifth straight month in December as the economy loses steam on weak domestic demand, the central bank said Wednesday.The consumer sentiment index ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― came in at 99 for December, unchanged from the previous month, according to a monthly survey by the Bank of Korea.A reading below the benchmark 100 means pessimists outnumber optimists. The survey, based

South Korean stocks inched up 0.02 percent on Wednesday as concerns about the U.S. fiscal cliff issue weighed on foreign and institutional buying, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 0.43 points to 1,982.25. Trading volume was moderate at 419.6 million shares worth 3.48 trillion won ($3.24 billion), with gainers outnumbering decliners 457 to 365.“Foreigners and institutions picked up shares on ex-dividend demand,”

South Korean stocks got off to a strong start on Wednesday, buoyed by gains in key exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.48 points, or 0.68 percent, to 1,995.3 in the first 15 minutes of trading.Blue chips shored up the KOSPI, with market bellwether Samsung Electronics adding 0.75 percent and the country‘s top automaker Hyundai Motor rising 0.9 percent.The local currency was trading at 1,073.55 won to the U.S. dollar as of 9:15 a.m., up 0.65

The value of initial public offerings and rights offerings on the South Korean stock market this year hit the lowest level since the 1997 Asian financial crisis, according to industry data. IPOs on the local stock market stood at 466.4 billion won ($434.5 million) so far this year, the lowest level since 1998 when they came to 300 billion won due to fallout from the 1997 crisis, according to data by the Financial Supervisory Service and the Korea Exchange. Rights offerings reached 1.65 trillion

The local financial sector plans to tighten its belt once again to prepare for a lackluster economy amid sluggish business conditions in the global markets. Costs will be kept to a minimum and efficiency maximized, while at the same time, financial companies will focus on increasing their overseas reach to develop new sources of profit, industry sources said on Tuesday. This won’t be the first time the sector has tried to streamline its operations, but sources said the situation could be a bless

South Korean stocks closed almost flat Monday as investors took to the sidelines amid the prolonged concerns about the U.S. fiscal cliff, analysts said. The local currency inched up against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up 0.07 percent, or 1.40 points, to finish at 1,981.82. Trading volume was low at 343 million shares worth 3.2 trillion won ($2.98 billion) with gainers outstripping losers 398 to 391. “Local shares traded almost flat as the rising uncertai

South Korea’s government debt neared 470 trillion won ($437.2 billion) in 2011 under new accounting rules adopted to reflect international norms, government data showed Monday.According to the data offered by the finance ministry, South Korea’s ordinary government debt came to 468.6 trillion won last year. The ratio of the debt to the country’s gross domestic product stood at 37.9 percent.The figures were calculated on an accrual basis, different from the existing cash basis accounting rules und

FSS trying to talk Park’s team into not splitting agency