South Korea's corporate capital spending is expected to expand nearly 4 percent in 2022 on a recovery in manufacturing activity and private consumption, a poll showed Wednesday. The survey of 3,700 big, midsize and small companies, taken by the state-run Korea Development Bank (KDB), showed their combined facility investments will likely reach 186 trillion won ($158 billion) next year, up 3.6 percent from this year. "The country's corporate capital spending is likely to keep growing in th

South Korean shares opened lower Wednesday as institutional and foreign investors dumped shares on the ex-dividend date. The benchmark Korea Composite Stock Price Index (Kospi) fell 17.81 points, or 0.59 percent, to 3,002.43 in the first 15 minutes of trading. Overnight, Wall Street showed mixed results amid persistent concerns over the COVID-19 pandemic. The Dow Jones Industrial Average rose 0.26 percent to 36,398.21, but the tech-focused Nasdaq composite index fell 0.56 percent to 15,781.72

South Korea’s exports of fishery products grew 20.5 percent on-year in the first 10 months of this year, data showed. Outbound shipments of fishery products reached $2.24 billion during the January-October period, compared to $1.86 billion tallied a year earlier, according to the data from the Ministry of Oceans and Fisheries. Exports to China rose 48.1 percent to $540 million, and those to the United States and the European Union surged 24.2 percent and 39.4 percent, respectively. Sales

South Korean manufacturers' business sentiment improved for January on optimism that the country's exports remain strong despite the global pandemic, central bank data showed Wednesday. The business sentiment index (BSI) for local manufacturers came to 92 for December, up from 88 for this month, according to the data from the Bank of Korea (BOK). The index measures manufacturers' prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.

2 in 5 company heads to be women in Korea in coming years

Samsung C&T said it has signed a deal to build an undersea high-voltage direct current network that connects the United Arab Emirates’ offshore oil production facilities and Abu Dhabi’s land power network. Samsung C&T said it would form a consortium with Belgian construction company Jan De Nul for the engineering, procurement and construction project worth 3.5 trillion won ($3 billion). Samsung C&T’s portion of the project amounts to 2.7 trillion won. This brin

South Korean shares could recede early next year but will gradually pick up speed in robust rebound on upbeat corporate earnings and consumer sentiment, while the home price rise will slow but with room for a moderate hike, market experts here said. 　 The benchmark Kospi -- which hit a record high on July 6 this year at 3,305 amid ample liquidity and pandemic recovery hopes -- could reach as high as 3,480 next year, though it could also dive down as low as 2,710, according to analysts citi

Seoul shares closed higher on Tuesday as foreign and institutional investors scooped up market heavyweights following overnight US gains. The local currency fell against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index (Kospi) went up 20.69 points, or 0.69 percent, to 3,020.24 points. Trading volume was moderate at about 593 million shares worth some 11.9 trillion won ($10.1 billion), with gainers outnumbering losers 524 to 333. Individuals sold a net 1.9

Lotte Card recently launched a new credit card series that aims to offer best deals for shopping, dining out and more for millennials and Gen Z customers. The four cards under its so-called Loca Likit series – Loca Likit 1.2, Loca Likit Eat, Loca Likit Play and Loka Likit Shop – offers its users different discounts and cost-effective options for the shops they want. Loca Likit 1.2 pays 1.2 percent cash back on dining, cafe and food delivery apps and 1.5 percent back discount on o

Failed digital transition cited as key reason for falling profits

SEJONG -- The number of small companies in South Korea expanded nearly 5 percent in 2020 from a year earlier despite the pandemic, but their profit fell sharply, government data showed Tuesday. The country had 2,902,000 companies with fewer than five workers as of the end of 2020, up 4.7 percent from a year earlier, according to the data from Statistics Korea and the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups. The largest number of such companies were retailers and who

SEJONG -- The number of businesses in South Korea rose nearly 18 percent over the past five years as almost all industrial sectors posted gains, data showed Tuesday. Asia's fourth-largest economy had a total of 6,013,000 businesses as of the end of 2020, up 17.8 percent from five years earlier, according to the data from Statistics Korea. One-man operations accounted for the biggest proportion of the total with 79 percent, followed by corporations with 15.4 percent and other establishments wit

A Seoul court has rejected a Hong Kong-based private equity firm's request for Kyobo Life Insurance Co. to carry out its obligation with regard to a put option that it has been trying to exercise, the South Korean insurer said Tuesday. The ruling appears to have removed a major hurdle for Kyobo Life's push to list shares on the local stock bourse in the first half of next year, according to company officials. In October 2018, Affinity Equity Partners exercised a put option on 6 million shares

The government will lift restrictions on sales of urea solution as the supply of the essential fluid used in diesel vehicles to cut emissions has been stabilized, the finance ministry said Tuesday. South Korea had struggled to cope with a shortage of urea solution after China imposed export curbs on urea to ease domestic supply bottlenecks. The government has imposed curbs on where and how much of the solution can be sold in a way to ease its shortage. Those restrictions will be lifted starti

South Korea’s exports of kimchi climbed nearly 14 percent in the first eight months of 2021 on growing overseas demand for healthier food amid the new coronavirus pandemic, data showed. Outbound shipments of kimchi reached $111.5 million in the January-August period, up 13.8 percent from a year earlier, according to the data from the Korea Customs Service and the food industry. In contrast, imports of kimchi shrank 9.7 percent on-year to $86.1 million over the cited period, resulting in