INCHEON -- Finance Minister Choo Kyung-ho called for Japan to put South Korea back on its "white list" of trusted trading partners in a swift manner and expand cultural and educational exchange between the two countries during his meeting with his Japanese counterpart, Shunichi Suzuki. The two met on the sidelines of the 56th Annual Meeting of the Board of Governors of the Asian Development Bank which kicked off Tuesday for a four-day run in Incheon’s Songdo district. On April 24

Group seeks deals in Southeast Asia, more investment banking in US, Europe

South Korean stocks opened higher Tuesday, as investors await to see a widely expected interest rate hike by the US Federal Reserve in the policy meeting later this week. The benchmark Korea Composite Stock Price Index rose 17.57 points, or 0.7 percent, to trade at 2,519.10 in the first 15 minutes of trading. The Fed is expected to raise the interest rate by another 0.25 percentage point at the end of the Federal Open Market Committee on Wednesday in what will be the latest move in its aggressiv

Top economic policymakers of Korea, Japan set to hold first meeting in 7 years

Debt among those in their 20s and 30s jumped more than 27 percent over the past three years since the COVID-19 pandemic hit, indicating they suffered financial difficulties due to rising home prices and an economic slowdown, central bank data showed Sunday. In the fourth quarter of 2022, overall loans extended to those in the age bracket soared 27.4 percent to 514.5 trillion won ($383.96 billion) from 404 trillion won in the fourth quarter of 2019, according to a report submitted by the Bank of

The authorities are scrambling to respond to what could be one of the largest stock price manipulation cases in recent years. The authorities, including the Financial Supervisory Services, are investigating deals involving the stocks of eight companies, the combined market capitalization of which fell around 8 trillion won this week. The shares of the companies -- Samchully, Daesung Holdings, Seoul Gas, Sebang, Sun Kwang and Daou Data – began dropping abruptly earlier this week without a

South Korean stocks ended higher Friday as chips and platform shares gathered ground on expectations for a better outlook despite recession woes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.72 points, or 0.23 percent, to close at 2,501.53, extending the winning streak to a second session. Trading volume was moderate at 762.56 million shares worth 13.64 trillion won ($10.18 billion), with decliners outpacing gainers 448 to 423. The index

South Korean stocks opened higher Friday, tracking overnight gains on Wall Street, as major chipmakers and platform operators gathered ground on hope of a better outlook. The benchmark Korea Composite Stock Price Index added 6.72 points, or 0.27 percent, to 2,502.53 in the first 15 minutes of trading. Overnight, US shares ended higher as Meta Platforms' upbeat quarterly earnings report boosted tech shares. The Dow Jones Industrial Average rose 1.57 percent, and the tech-heavy Nasdaq Composi

Kakao Pay Corp., the fintech unit of South Korean tech giant Kakao, said Thursday it plans to acquire a controlling stake in Siebert Financial Corp., a US brokerage firm, as part of efforts to expand its financial business abroad. Kakao Pay said in a regulatory filing it has signed a deal to purchase Siebert's new shares worth $17 million. The deal, set to be completed on May 4, will allow Kakao to secure a 19.9 percent stake in the New York-based firm. After winning approval from shareho

South Korean stocks ended higher Thursday after a five-session losing streak as investors picked up tech bargains despite concerns about the global banking sector instability and an economic recession. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 10.98 points, or 0.44 percent, to close at 2,495.81. Trading volume was moderate at 722.69 million shares worth 10.97 trillion won ($8.19 billion), with decliners outpacing gainers 465 to 405. Reta

The Bank of Korea has refuted reports claiming that the amount in Korea's foreign reserves has fallen to the level below what the International Monetary Fund suggests as “adequate.” "The amount of Korea's foreign reserves stands at $426.07 billion, the ninth-largest in the world," the central bank said through a press release Wednesday, referring to the figure drawn up at the end of March. "The IMF also assessed the reserve shows an adequate response to ext

South Korean stocks opened lower Thursday on Samsung Electronics' poor earnings and renewed concerns about the health of the global banking system. The benchmark Korea Composite Stock Price Index shed 11.7 points, or 0.47 percent, to 2,473.13 in the first 15 minutes of trading. Overnight, US shares ended mixed as concerns about the US banking sector instability overshadowed upbeat corporate business results. The Dow Jones Industrial Average lost 0.68 percent, while the tech-heavy Nasdaq Com

By Kim Tae-ho National Tax Service vice commissioner In March, the National Tax Service held an official gathering with the European Chamber of Commerce in Korea for the first time in 12 years. This event, along with a similar engagement with the American Chamber of Commerce last year, highlights our commitment to improving communication with foreign investors and building mutual trust. Trust between the revenue agency and the taxpayer promotes voluntary and honest tax filing and payment, whil

South Korean stocks ended slightly lower Wednesday, as investors began assessing corporate quarterly earnings amid renewed concerns over the stability of the global banking system and the Sino-US rivalry. The local currency fell to a yearly low against the US dollar. The benchmark Korea Composite Stock Price Index shed 4.19 points, or 0.17 percent, to close at 2,484.83, extending its losing streak to a fifth session. Trading volume was heavy at 1.01 billion shares worth 12.24 trillion won ($9.16

South Korea's terms of trade worsened for the 24th straight month in March as export prices fell faster than import prices, central bank data showed Wednesday. The country's net terms-of-trade index for goods fell 5.1 percent from a year earlier, according to the preliminary data from the Bank of Korea. The index is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy for each unit of exports, with a lower figure