South Korean stocks closed up over 1 percent Tuesday as Samsung Electronics and tech blue chips rose amid hopes for eased monetary tightening in the United States, analysts said. The local currency jumped against the US dollar. The benchmark Korea Composite Stock Price Index advanced 27.25 points, or 1.15 percent, to 2,399.04. It marked the third straight session of a rise. Trading volume was moderate at 492.8 million shares worth 8.5 trillion won ($6.13 billion) with gainers outstripping declin

Itaewon restaurant, shop owners express concern over residual effects of crowd surge tragedy

Experts worry the NPS has become a tool to control private businesses according to their political agenda

South Korea needs to show significant action to make MSCI's watch list of countries with developed market status, the chief of the global index provider Morgan Stanley Capital International has said. Every June, the MSCI reclassifies its watch list of advanced markets, based on the countries' economic development, size and liquidity of equity markets, and market accessibility for foreign investors. If South Korea is added to this watch list, it would then be eligible for a review to jo

South Korean stocks got off to a strong start Tuesday, as investors await the release of US inflation data due out later this week that could offer clues about the Federal Reserve's path forward in its interest rate hikes. The benchmark Korea Composite Stock Price Index rose 10.79 points, or 0.45 percent, to 2,382.58 in the first 15 minutes of trading. US stocks ended higher Monday, on the eve of the midterm elections, with the prospect of the Republicans likely to control at least one cham

South Korea posted a current account surplus in September, swinging from the previous month's shortfall, but it was much smaller than a year earlier as import bills remained high and outbound travel grew due to eased pandemic-related curbs, central bank data showed Tuesday. The country's current account surplus came to $1.61 billion in September, compared with a deficit of a revised $3.05 billion a month earlier, which marked the first shortfall since April, according to the preliminar

South Korea’s financial watchdog said Monday preparations are underway to deal with shrinking liquidity but the recent signs of credit strains are not a prelude to a full-blown crisis, such as the 1997 Asian financial crisis or the 2008 global financial crisis. A default reported by a state-backed local developer in early October had led to signs of a decline in liquidity in the bond and short-term money markets, prompting the government to inject at least 50 trillion won ($35.8 billion) i

SEJONG -- The chief of Korea’s tax administrative agency said Monday that the transition to a non-face-to-face economy during the COVID-19 pandemic further increased the importance of digital-based tax administration. National Tax Service Commissioner Kim Chang-ki stressed the digitization of tax administration during the second South Korea-South and Central Americas Digital Tax Administration Forum, which kicked off on the day and is scheduled to run through Thursday at a hotel in Seoul.

South Korean stocks opened higher Monday on strong advances by tech and auto heavyweights. The benchmark Korea Composite Stock Price Index had increased 14.59 points, or 0.62 percent, to 2,363.02 points as of 9:15 a.m. Tech and auto giants led the KOSPI's hike after a media report that the chair of Boeing Co. met with top officials of Samsung Electronics, Hyundai Motor Group and Hanwha Solutions to discuss new business cooperation. Market bellwether Samsung Electronics rose 1.18 percent. To

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NTS has informed 2.25m individual services providers of W274.4b tax refunds unclaimed as part of agency's 'proactive governance' approach

Hana Financial Group Chairman Ham Young-joo met Friday with Henry Fernandez, chairman of the US financial firm Morgan Stanley Capital International, at Hana Financial Group's headquarters in central Seoul to discuss climate change response as well as environment, social and governance management. At the meeting, Ham introduced Hana Financial Group's ESG management efforts and its future plans to deal with the growing climate change risks. “Hana Financial Group is recognizing clim

SEJONG -- The nation’s top economic policymaker on Friday unveiled plans to help facilitate investments in cash-strapped startups, suggesting hefty tax benefits for both corporate and individual investors. At a ministerial meeting in Seoul, Deputy Prime Minister and Finance Minister Choo Kyung-ho pointed to the situation whereby the private sector’s investments in startups have contracted in the wake of externally and domestically unfavorable factors in the economy. “Venture

A Hana Bank Counterfeit Notes Response Center official examines a $100 bill on Thursday at the center located in Jung-gu, central Seoul. As the Korean won weakens against the US doller, South Korea's foreign exchange reserves shrank for the third consecutive month in October to $414.01 billion, down by $2.76 billion since September.

South Korea’s financial authorities said Thursday they would closely monitor for any signs of increasing volatility in the financial markets following a big US rate hike -- the fourth consecutive 75-point increase since June amid persistent inflation. “Uncertainties are certainly growing and we’ll be extra vigilant in our response to what may come in our way,” Finance Minister Choo Kyung-ho said at a meeting he called to discuss Wednesday’s rate increase with the co