South Korea's on-year job additions slowed for the fourth consecutive month in July, data showed Wednesday, with employment remaining challenging for those in their 20s. The number of employed people came to 28.68 million in July, up around 211,000 from a year earlier, according to the data compiled by Statistics Korea. Last month, the country's jobless rate came to 2.7 percent, down 0.2 percentage point over the period. South Korea's on-year job additions slowed for nine consecut

South Korean stocks ended lower Tuesday as investors took a wait-and-see approach amid concerns over additional rate hikes by the US Federal Reserve and China's worse-than-expected trade data. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 6.73 points, or 0.26 percent, to 2,573.98, extending its losing streak to a fifth day. Trading volume was moderate at 631.5 million shares worth 12.3 trillion won ($9.3 billion), with losers

Current account surplus for first 6 months shrink 90% compared to a year ago

South Korea's industry ministry said Tuesday it is focusing on ensuring a stable power supply amid the soaring demand in the face of sweltering heat. The maximum electricity demand reached 93.6 gigawatts the previous day, the highest ever for a summer season, above the ministry's estimate of 92.9 GW. "We will stay vigilant and closely manage the electricity supply situation throughout the summer season, as uncertainties can arise at any time," Second Vice Industry Minister Ka

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street, as investors remain concerned over the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index climbed 9.6 points, or 0.37 percent, to 2,590.31 in the first 15 minutes of trading. All three major US stock indexes finished higher Monday, snapping their worst weekly decline since March, on upbeat corporate earnings. Investors are keeping an eye on the Fed'

South Korea logged a current account surplus for the second straight month in June on the back of a trade surplus and increased dividend payments from overseas, central bank data showed Tuesday. The country's current account surplus reached $5.87 billion in June, following the $1.93 billion surplus a month earlier, according to preliminary data from the Bank of Korea. June's surplus came as the country logged a trade surplus and dividend income increased. The country's goods accou

South Korean stocks ended lower Monday as investors took a wait-and-see approach ahead of upcoming major economic releases, including US consumer price data. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index dropped 22.09 points, or 0.85 percent, to 2,580.71, extending its losing streak to a fourth day. Trading volume was slim at 497.1 million shares worth 11.8 trillion won ($9 billion), with losers outnumbering winners 519 to 360. Institutio

Retail investor frenzy shifts from secondary batteries to superconductor industry

A bank employee sorts 50,000 won ($38) notes at Hana Bank in Jung-gu, Seoul, Monday. The 50,000 won notes are back in circulation as key interest rates and bank rates for savings accounts have been continuously on the rise since 2021. (Yonhap)

South Korea's export of cathodes, a key secondary battery material, to the United States surged almost threefold in the first seven months from a year earlier, on growing demand for electric vehicle cells and the new US law on promoting green technologies, data showed Monday. Outbound shipments of cathode materials to the US amounted to $1.83 billion in the January-July period, up 177.8 percent from $661 million the previous year, according to the data by the Korea International Trade Assoc

South Korean stocks started a tad lower Monday, led by losses in market heavyweights, such as automakers and chemical companies. The benchmark Korea Composite Stock Price Index fell 4.23 points, or 0.16 percent, to 2,598.57 in the first 15 minutes of trading. Large caps led the decrease, with No. 1 carmaker Hyundai Motor declining 1.56 percent and its smaller affiliate Kia falling 2.98 percent. Top oil refinery SK Innovation retreated 1.48 percent, and major chemicals maker LG Chem dropped 0.94

South Korean stocks started a tad higher Friday as investors await the US' July job data, which is expected to give clues for the outlook of the Federal Reserve's monetary tightening policy. The benchmark Korea Composite Stock Price Index rose 6.46 points, or 0.25 percent, to 2,611.85 in the first 15 minutes of trading. All three major US indexes finished a tad lower Thursday was investors digested higher Treasury yields and latest corporate earnings ahead of US job data for July set t

Seoul shares ended lower Thursday on heavy sell-off by foreign investors and institutions after the downgrading of the US credit rating. The South Korean won declined against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index retreated 0.42 percent, or 11.08 points, to 2,605.39. Trading volume was at 773.9 million shares worth 14.6 trillion won ($11.2 billion), with decliners outnumbering gainers 523 to 345. All three US major stock indexes finished lower Wednes

Big companies to still face up to 50 percent tax rate on inherited assets

Three major South Korean battery makers saw their market share fall in the first half of the year from a year earlier despite solid growth, as bigger Chinese rivals further expanded their overseas foothold, a report said Thursday. The combined market share of the three -- LG Energy Solution Ltd., Samsung SDI Co. and SK On Co. -- came to 23.9 percent in the January-June period, compared with 26.1 percent from the previous year, according to the latest data from industry tracker SNE Research. LGES