South Korean banks’ household loans grew by the most in four months in October on a rise in mortgage lending, the central bank said Thursday, complicating the government’s efforts to curb growing household debt.Local banks’ household loans, including home-backed and credit loans, reached 451.8 trillion won ($398 billion) as of the end of October, up 3.2 trillion won from the previous month, according to the Bank of Korea.The October monthly growth marked the largest expansion since such loans in

Gold prices on both the international and South Korean markets are expected to continue rising as renewed worries on the eurozone, sparked by Italy’s financial woes, prompt investors to scurry for safer assets, data showed Thursday.On Tuesday, the contract for December delivery hit $1,799.2 per troy ounce on the Comex division of the New York Mercantile Exchange, hitting a near seven-week high. The price closed slightly lower on Wednesday but continued to hover near the $1,800 level.Demand for t

The growth of South Korea’s money supply picked up in September from the previous month as bank lending to companies expanded and the current account surplus widened, the central bank said Thursday.The country’s M2, a narrow measure of the money supply, reached 1,729.5 trillion won ($1.52 trillion) in September, up 4.2 percent from a year earlier, according to the Bank of Korea.The M2 in September quickened from the 4 percent on-year expansion tallied in August and marked the fastest growth sinc

Several banks hope to tap Financial Market Stabilization FundA number of savings banks are seeking state help in securing additional capital, sources said Thursday.“Some of the savings banks have shown interest in receiving support through the Financial Market Stabilization Fund,” an unnamed official with the Financial Services Commission was quoted as saying by a local news agency.According to industry sources, three or four savings banks are seeking state funds.“It is expected that application

SK Telecom submitted its application to take over Hynix Semiconductor, owned by creditors, as a sole bidder on Thursday.Credit Suisse, one of the co-sale brokers for the deal, received the bid to acquire a 15 percent stake in Hynix from SKT, said officials at Korea Exchange Bank, the main creditor.SKT tendered the last minute application just before the 5:00 p.m. deadline after hours of heated in-house debate over whether to bid amid turmoil following the prosecution’s probe of the SK Group chai

South Korean banks' household loans grew by the most in four months in October on a rise in mortgage lending, the central bank said Thursday, complicating the government's efforts to curb growing household debt.Local banks' household loans, including home-backed and credit loans, reached 451.8 trill

Seven out of 10 foreign investment banks plan to increase their portion of South Korean stocks next year, citing the country’s solid economic fundamentals and low price valuation, a report showed Wednesday.Citigroup Inc., Barclays Plc and five others said they plan to invest more in South Korean equities, while two players, HSBC Holdings Plc and Royal Bank of Scotland Group Plc, opted to scale back their stock purchases, according to the report by the Korea Center for International Finance. JP M

The amount of Korea’s credit card loans declined for the first time in two years amid intensifying pressure from the authorities. The Financial Supervisory Service and the credit card industry estimate that the total loan balance ― including card loans and cash advance services ― has fallen slightly at the end of September compared to three months earlier. “Preliminary figures show that most credit card firms saw their loans decline in the third quarter of this year,” said an official from the F

South Korean stocks inched 0.23 percent up on Wednesday as European optimism boosted investor sentiment but they contined to remain cautious about the region’s worsening debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 4.39 points to 1,907.53. Trading volume was moderate at 414.3 million shares worth 5.47 trillion won ($4.9 billion), with losers leading gainers 416 to 395.“The prices were steady all day, just up and