South Korean stocks ended higher for the second straight session Wednesday as they waited for US payroll data and more clues over the US rate policy direction from this week's Jackson Hole symposium. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 4.5 points, or 0.17 percent, to close at 2,701.13. Trade volume was moderate at 406 million shares worth 9.18 trillion won ($6.87 billion), with losers outnumbering gainers 448 to 407. F

South Korea's exports increased 18.5 percent on-year in the first 20 days of August, data showed Wednesday, on the back of solid outbound shipments of chips. Outbound shipments reached $33.1 billion in the Aug. 1-20 period, compared with $27.9 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports grew 10.1 percent on-year to $34.6 billion during the period, resulting in a trade deficit of $1.47 billion. By sector, exports of semiconductors jumped 42.5

The finance ministry said Wednesday it will extend the tax cut on fuel for automobiles by another two months until the end of October as concerns linger over the Middle East crisis. South Korea has been applying a 20 percent discount on gasoline consumption and a 30 percent discount on diesel and liquefied petroleum gas consumption, which were supposed to expire at the end of this month. While the country previously applied a 25 percent and a 37 percent cut on gasoline and diesel prices, respect

South Korean stocks opened lower Wednesday, tracking overnight losses on Wall Street ahead of the Jackson Hole meeting later this week. The benchmark Korea Composite Stock Price Index (Kospi) dropped 5.28 points, or 0.2 percent, to 2,691.35 in the first 15 minutes of trading. Overnight, major US indexes lost ground to take a breather from a recent rally, with AI chip giant Nvidia down more than 2 percent. Investors' eyes are on Federal Reserve Chair Jerome Powell's speech at the upcomi

Major South Korean companies are seeing an increase in the percentage of employees aged 50 or older, while that of employees in their 20s is declining, a recent report by corporate analysis firm Leaders Index showed Tuesday. The firm analyzed 2021-23 data of 141 companies among the top 500 in the country in terms of sales, compiling the report on 123 companies that also revealed the ages of their employees. The total number of employees at those companies went from 1.38 million in 2021 to 1.42 m

South Korean stocks rebounded on Tuesday following a rally in the US market ahead of this week's Jackson Hole symposium. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 22.27 points, or 0.83 percent, to close at 2,696.63. Trade volume was moderate at 473 million shares worth 8.69 trillion won ($6.52 billion), with gainers outnumbering losers 644 to 245. Foreigners bought a net 254.2 billion won worth of shares, while individuals offload

South Korean stocks opened sharply higher on Tuesday on overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index shot up 26.07 points, or 0.97 percent, to 2,700.43 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.58 percent higher, with the S&P 500 advancing 0.97 percent. The tech-heavy Nasdaq composite finished 1.39 percent higher as well. The Wall Street gains were powered by eased concerns about a potential recession in the Un

Buoyed by upbeat earnings, banks compensate employees with record salaries in first half

South Korean stocks opened nearly flat on Monday as investors cashed in profits following recent gains amid the eased fears of a potential recession in the United States. The benchmark Korea Composite Stock Price Index (Kospi) edged down 0.58 points, or 0.02 percent, to 2,696.65 in the first 15 minutes of trading. South Korean stocks tumbled by the most on record to a near nine-month low on Aug. 5 amid intensifying fears over a US economic slowdown, crashing 8.77 percent to close at 2,441.55. Se

NEET youth rises to highest to exceed 443,000 in July

South Korean stocks ended almost 2 percent higher Friday to extend their winning streak to a fifth day, as a series of US data soothed economic slowdown fears. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 52.73 points, or 1.99 percent, to close at 2,697.23. Trade volume was moderate at 375.9 million shares worth 10.8 trillion won ($7.95 billion), with winners slightly outnumbering losers 473 to 412. Foreigners scooped up a w

Reduced outlook for chip industry prompts fund managers to cut Korean stock allocation

The top financial regulators of South Korea and Japan are set to meet next month. Korea’s Financial Services Commission Chairman Kim Byoung-hwan is scheduled to meet with Hideki Ito, commissioner of Japan’s Financial Services Agency, in Tokyo in September, according to the FSC on Friday. This marks the first meeting between the newly appointed financial chiefs since both assumed their positions in July. The upcoming bilateral talks follow the revival of the regular meetings between K

South Korean stocks opened sharply higher Friday as major US data eased economic slowdown fears. The benchmark Korea Composite Stock Price Index (Kospi) rose 52.43 points, or 1.98 percent, to 2,696.93 in the first 15 minutes of trading. Overnight, major US indexes rallied as the latest retail sales data showed that shoppers are still driving the economy. The Dow Jones Industrial Average rose 1.4 percent, the S&P 500 increased 1.61 percent, and the tech-heavy Nasdaq composite soared 2.34 perc

Local securities firms that offer daytime trading of US stocks for South Korean investors are to tentatively suspend the service, following the order cancellation fiasco that happened earlier this month. A total of 19 brokerage houses, affected by the cancellation of orders by the US overnight trading platform operator Blue Ocean Technologies, are to temporarily suspend the service from Friday, according to the Korea Financial Investment Association. “Representing local securities firms,