Seoul shares opened higher Thursday, tracking tech-led gains on Wall Street, as investors expect the Federal Reserve's rate cut after the release of US inflation data. The benchmark Korea Composite Stock Price Index (Kospi) rose 1.2 percent, or 30.17 points, to 2,543.54 in the first 15 minutes of trading. In August, the US core consumer price index, excluding volatile food and energy costs, rose 0.3 percent from July. The inflation data dashed hopes for a big cut by the Fed next week but ma

South Korea's consumer market increased by 33.3 percent from 2014 to 2023, with the annual growth in non-store retailing such as online markets outstripping that of large stores by tenfold. The consumer market for the country was 509.5 trillion won ($380.4 billion) in 2023, up from 382.3 trillion won in 2014, the Korea Chamber of Commerce and Industry's analysis based on Statistic Korea data showed Wednesday. The report looked at the total growth in the time period over various secto

South Korean stocks fell for the seventh consecutive session Wednesday led by foreign sell-off ahead of US inflation data that could influence the Federal Reserve's policy move next week. The Korean won traded higher against the US greenback. The benchmark Korea Composite Stock Price Index lost 10.06 points, or 0.4 percent, to close at 2,513.37. The main index has been in a bearish mode since Sept. 3. Trading volume was light at 294.1 million shares worth 9.4 trillion won ($7 billion), with

Samsung Electronics hits yearly low on Wednesday, with target price lowered

The Bank for International Settlements has cautioned that South Korea’s expanding private sector credit is beginning to weigh on economic growth, with further increases posing additional risks. The Switzerland-based consortium of central banks recently published a report indicating that while rising private sector credit can boost economic activity in emerging markets, exceeding certain levels may lead to growth deterioration. The report described a "U-shaped" relationship betwee

South Korea's exports rose 24.6 percent on-year in the first 10 days of May on robust global demand for semiconductors, data showed Wednesday. Outbound shipments reached $18.58 billion in the April 1-10 period, compared with $14.91 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports advanced 16.3 percent on-year to $2.48 billion. Imports added 11.3 percent on-year to $18.4 billion during the period, resulting in a trade surplus of $200 milli

South Korea added more than 100,000 jobs for the second consecutive month in August, but jobs in the construction sector fell by the most ever amid an industry slowdown and extreme heat wave, data showed Wednesday. The number of employed people came to 28.80 million last month, up 123,000 from a year earlier, according to the data compiled by Statistics Korea. In July, the monthly job additions bounced back to over 100,000 for the first time in three months to come to 172,000. In June, 96,000 jo

South Korean stocks started a tad lower Wednesday as investors await the latest US inflation data that would give clues for the Federal Reserve's upcoming rate-setting decision. The benchmark Korea Composite Stock Price Index opened slightly higher but lost 0.13 percent, or 3.33 points, to 2,520.1 in the first 15 minutes of trading. On Wall Street, US stocks closed mixed amid rising slowdown concerns. The Dow Jones Industrial Average edged down 0.2 percent, and the Nasdaq composite rose 0.8

South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key US inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the US greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won ($6.2 bil

South Korean asset managers are eagerly introducing diverse fund products tracking the Indian stock market, seeking lucrative opportunities in its strong growth. Korea Investment Management, a big-name asset manager here, listed two active funds tracking India-domiciled companies Tuesday, the ACE India Consumer Power Active ETF and ACE India Market Representative Big5 Group Active ETF. According to the firm, Korea Investment Management is the first company in Asia to launch an actively managed f

Ministry to propose tax bill in H1 2025

Finance Minister Choi Sang-mok has said the government needs to scrap a financial investment income tax and review various tax schemes regarding stock trading in an effort to ease market uncertainty and help boost the stock market. Under the investment income tax scheme, set to take effect next year, capital gains of over 50 million won ($38,000) from stock investments will be subject to a 20 percent tax, while earnings exceeding 300 million won will be subject to a 25 percent tax. "The sch

South Korean stocks started lower Tuesday despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) opened slightly higher but lost 0.48 percent, or 12.09 points, to 2,523.84 in the first 15 minutes of trading. Overnight, major US indices closed higher after the previous week's big losses. The Dow Jones Industrial Average rose 1.2 percent, and the tech-heavy Nasdaq Composite gained 1.16 percent. In Seoul, market heavyweights led the weak opening. Top-ca

The number of young South Koreans with delinquent loans has rapidly increased in the past three years, data by the state-run financial watchdog showed Monday. As of July, 65,887 people in their 20s have been registered at the Korea Credit Information Services as "delinquent borrowers," referring to people who are disadvantaged in financial transactions due to long-standing credit card or bank debt. This figure marked a 25.3 percent increase from the 52,580 delinquent borrowers in the s

Seoul shares ended lower Monday to extend their losing streak to a fifth day amid concerns that the US Federal Reserve may not cut its rate by a large margin. The Korean won traded sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.35 points, or 0.33 percent, to close at 2,535.93. Trading volume was moderate at 262.46 million shares worth 7.3 trillion won ($5.4 billion), with gainers outnumbering losers 502 to 371. Foreigners sold a net 540 billion won wo