South Korean stocks snapped a four-day losing streak to close marginally higher Monday, amid concerns over the dispute over the US debt ceiling between the US government and Congress. The local currency edged down against the US dollar. After swerving in and out of negative terrain, the benchmark Korea Composite Stock Price Index finished up 3.93 points, or 0.16 percent, to 2,479.35. Trading volume was light at 475.7 million shares worth 6.8 trillion won ($5.08 billion), with decliners outnumber

Four-person households to pay over W7,000 more per month for electricity, gas

Outbound container shipping costs for major destinations, including the US west coast and the European Union, slipped in April from a month earlier, data showed Monday. The average rate for a 40-foot container from Asia's fourth-largest economy to the US west coast reached 4.84 million won ($3,610) last month, down 5.3 percent from March, according to the data from the Korea Customs Service. Compared with the previous year, the cost was down 64.4 percent. The data is based on freight rates

South Korean stocks opened slightly lower Monday, as growing worries over the debt ceiling standoff between the US government and Congress weighed on investor sentiment. The benchmark Korea Composite Stock Price Index slipped 4.10 points, or 0.17 percent, to 2,471.32 in the first 15 minutes of trading. The Joe Biden administration and a divided Congress have yet to reach an agreement over raising the US government's $31.4 trillion borrowing limit, with the Congressional Budget Office warnin

South Korea will raise second-quarter electricity rates and gas prices on high global energy costs and mounting losses of the state utility companies, the industry ministry said Monday. The government will jack up the electricity rates for consumer and industrial use by 8 won ($0.01) per kilowatt hour for the April-June period, compared with a 13.1 won increase per kWh in the first quarter of this year, according to the Ministry of Trade, Industry and Energy. The fee hike is estimated to cost a

The number of jobs for people in their 40s in South Korea decreased for the 10th consecutive month in April, data showed Sunday, amid the protracted slump in the country's manufacturing industry. Jobs for the age group have been falling on-year since July, with the positions decreasing 22,000 from a year earlier in April, according to the data compiled by Statistics Korea. South Korea added 816,000 jobs annually in 2022, with the addition maintaining growth through April on the back of the

South Korean Finance Minister Choo Kyung-ho emphasized the importance of multilateral development banks' role in tackling poverty in developing nations at a Group of Seven ministerial meeting, the ministry said Saturday. Choo made the remark during a session at the G-7 Finance Ministers and Central Bank Governors' Meeting in Niigata, northwest of Tokyo, which closed Saturday after a three-day run, according to the Ministry of Economy and Finance. Asia's No. 4 economy participate

Battery material firm EcoPro fails to make the list due to short-term fluctuation in stock price

Seoul shares ended lower to extend their losing streak to a fourth day Friday as investors remain concerned about the Federal Reserve taking further tightening steps. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 15.58 points, or 0.63 percent, to 2,475.42. The Kospi has shed 1 percent this week. Trading volume was moderate at 782.19 million shares worth 8.21 trillion won ($6.2 billion), with decliners outnumbering gainers 650 to 233. Institutions

South Korea's finance ministry said Friday the country's domestic consumption has been showing a steady recovery, but the economy has continued to slow due to sluggish exports and facility investment. "Recently, inflation has been slowing in South Korea, with the domestic consumption also posting a rebound," the Ministry of Economy and Finance said in a report. In April, the country's inflation grew 3.7 percent on-year, marking its slowest pace in over a year. The minist

South Korea's finance ministry said Friday the government will issue a set of coupons for local accommodations and tour packages in line with efforts to boost domestic consumption. The move came a day after President Yoon Suk Yeol declared an end to almost all COVID-19 restrictions in the latest step to return to pre-pandemic normalcy. Under the measure, the government plans to offer 30,000-won ($22.50) coupons that can be used at local accommodations, along with a 30 to 50 percent discount

Seoul shares opened lower Friday as investors remain concerned about the US Federal Reserve taking further tightening steps. The benchmark Korea Composite Stock Price Index fell 11.57 points, or 0.46 percent, to 2,479.43 in the first 15 minutes of trading. Institutions and foreigners sold a combined 115 billion won ($86 million) worth of stocks, offsetting individuals' stock purchases valued at 114 billion won. In Seoul, large-cap stocks declined across the board. Market bellwether Samsung

Seoul shares ended lower to extend their losing streak to a third day Thursday as investors remain watchful on whether the US Federal Reserve will put its policy rate on hold next month following improved US inflation data. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 5.51 points, or 0.22 percent, to 2,491.00. Trading volume was moderate at 635.97 million shares worth 8.82 trillion won ($6.6 billion), with gainers outnumbering decliners 502 to 3

South Korean information technology company NHN Corp. on Thursday said its first-quarter operating profit rose 23.1 percent on-year to 19.1 billion won ($14.5 million) mainly owing to steady growth in the revenue of its gaming and payment services. Net income came to 25.6 billion won ($19.3 million), turning from a loss of 4.5 billion won during the first quarter of 2022, according to the company’s regulatory filing. Meanwhile, total sales increased 5.4 percent on-year to 548.3 billion won

The Korea Development Institute, a South Korean state-run think tank, lowered the nation’s growth rate for 2023 to 1.5 percent from 1.8 percent in its previous outlook due to weak exports. The KDI projected Korea's economy will grow by 0.9 percent in the first half of 2023. It is expected to see 2.1 percent growth in the latter half of the year provided that the Chinese economy picks up and the semiconductor industry recovers from its slump. In the previous projection given in Febru