South Korea's exports fell 10.1 percent on-year in the first 10 days of May, data showed Thursday, amid the prolonged downcycle of the global semiconductor industry. The country's outbound shipments stood at $14.5 billion in the May 1-10 period, compared with $16.1 billion a year earlier, according to the data from the Korea Customs Service. Imports shed 5.7 percent on-year to $18.7 billion during the cited period, resulting in a trade deficit of $4.2 billion. In April, South Korea

Seoul shares opened higher Thursday as investors expect the Federal Reserve to put its rate hike march on hold following eased US consumer inflation data. The benchmark Korea Composite Stock Price Index rose 10.36 points, or 0.4 percent, to 2,506.87 in the first 15 minutes of trading. Individuals bought a net 22.2 billion won ($17 million) worth of stocks, offsetting institutions and foreigners' stock selling valued at 22 billion won. In Seoul, tech, auto and airline stocks led gains. Marke

Mirae Asset Securities announced Wednesday that its Singapore branch has officially become the 28th securities trading member of the Singapore Exchange. It is the first Korean financial investment company to do so. As a member, Mirae Asset can now trade various financial products within the Singapore Exchange on behalf of its customers. Other notable members include Credit Suisse Securities, Goldman Sachs Futures and HSBC Securities. “Our trading membership will help us earn trust within t

Starbucks Korea, Korea’s top specialty coffee chain, now accepts Apple Pay, Apple’s mobile payment service, as of Tuesday. Starbucks Korea is the second retailer under Korean retail giant Shinsegae Group to implement the near-field communication system for Apple Pay following E-mart24, Shinsegae’s local convenience store. Apple Pay landed in Korea on March 21 with local partner Hyundai Card. “Ninety-six percent of Starbucks cafes, except for the 40 located inside departme

South Korean stocks finished a tad lower Wednesday due to rising uncertainties over the upcoming US. inflation data and worries about the US debt ceiling. The benchmark Korea Composite Stock Price Index went down 13.55 points, or 0.54 percent, to 2,496.51. Trading volume was moderate at 623.6 million shares worth 8.76 trillion won ($6.61 billion), with decliners outnumbering gainers 475 to 388. Foreign investors bought 120.7 billion won worth of local stocks, while institutions dumped 123.2 bill

South Korea’s current account balance in the first three months of 2023 posted a deficit for the first time in 11 years due to sluggish exports, Bank of Korea data showed Wednesday. Though the country posted a current account surplus in March, the first quarter recorded a deficit of $4.46 billion due to a record-high deficit of $4.21 billion in January, followed by $520 million in February. It was the first time the quarterly figure went into the red since the first quarter of 2012. The sl

South Korean stocks opened slightly lower Wednesday as investors took a cautious approach ahead of US inflation data. The benchmark Korea Composite Stock Price Index declined 3.34 points, or 0.13 percent, to 2,506.72 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed down 0.2 percent, and the Nasdaq Composite lost 0.6 percent. In Seoul, big-cap shares made a mixed start as tech giant Samsung Electronics lost 0.61 percent and leading chipmaker SK hynix stayed f

SEJONG -- South Korea's job additions slowed in April after a brief rebound a month earlier, data showed Wednesday, amid higher borrowing costs and an economic slowdown, with most new positions taken by seniors. The number of employed people came to 29.23 million in April, up around 354,000 from a year earlier, according to the data compiled by Statistics Korea. In April 2022, the country added 865,000 jobs on-year. South Korea's monthly job additions had been slowing for nine consecut

South Korea logged a current account surplus in March as a goods account deficit and dividend payments overseas narrowed amid an extended slump in exports, central bank data showed Wednesday. The country's current account surplus reached $270 million in March, swinging from a shortfall of $520 million, according to the preliminary data from the Bank of Korea. In January, the country also suffered a record deficit of $4.21 billion amid an extended decline in outbound shipments. Consequently, the

Seoul shares ended a tad lower on Tuesday as investors await key US inflation data and earnings results by major US firms. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 3.15 points, or 0.13 percent, to close at 2,510.06. Trading volume was moderate at 739.67 million shares worth 9.17 trillion won ($6.9 billion), with decliners outnumbering gainers 503 to 358. Individuals sold a net 175 billion won worth of stocks, offsetting institutions and fore

Tougher regulations for Big Tech firms' finance business may come

Lee Bok-hyun, chief of the Financial Supervisory Service, is heading to Southeast Asia this week to promote the globalization of South Korea’s financial markets and attract global investors, the financial watchdog said Tuesday. The FSS chief, accompanied by representatives from Korean financial companies, was scheduled to visit Thailand, Singapore and Indonesia and hold investor relations events there. Lee’s visit began with a trip to Thailand on Monday, where he met with Sethaput

South Korean stocks opened a tad lower Tuesday as Wall Street ended mixed ahead of key US inflation data. The benchmark Korea Composite Stock Price Index slipped 5.59 points, or 0.22 percent, to 2,507.62 in the first 15 minutes of trading. On Wall Street, the Dow Jones Industrial Average closed down 0.17 percent and the Nasdaq Composite added 0.18 percent as investors awaited consumer price data slated for Wednesday, which is expected to affect the Federal Reserve's next steps. In Seoul, ma

Seoul shares ended higher Monday, following US stocks' rally last week, with investors staying cautious about the Federal Reserve's further rate hikes to tame inflation. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index went up 12.27 points, or 0.49 percent, to 2,513.21. Trading volume was moderate at 645.61 million shares worth 9.06 trillion won ($6.8 billion), with gainers outnumbering decliners 571 to 301. Institutions and foreigners bought a

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