South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea's trade portfolio, Seoul's trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade Agreement (FTA) and sign their joint statement during a virtual meeting set to be held in the day, according to the Ministry of Trade, Industry an

IMM Private Equity said Monday it has signed a binding term to become the largest shareholder of South Korean kitchen and interior furniture goods manufacturer Hanssem in a 1.45 trillion won ($1.24 billion) deal. Under a sales and purchase agreement, the third-largest buyout firm based in Seoul, with $5.4 billion in assets under management, will buy 6.5 million ordinary shares -- or 27.7 percent of voting rights -- owned by sellers comprising founder Cho Chang-gul and his seven specially a

The stock value of South Korea’s top wireless carrier SK Telecom could go up if the company’s nontelecom spinoff and 5-for-1 stock split plans take effect in November, analysts of major brokerage houses said Monday. “The spinoff plan will boost SK Telecom’s corporate value. Its affiliated companies’ values will likely be reevaluated as well. ... We highly recommend investors to buy the stock before the trading suspension” ahead of the spinoff, Ahn Jae-min, a

South Korean stocks snapped its three-day losing streak Monday amid expectations of strong quarterly earnings. The Korean won rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 14.38 points, or 0.48 percent, to close at 3,020.54 points. Trading volume was moderate at about 782 million shares worth some 10.3 trillion won ($881 billion), with gainers outnumbering losers 552 to 286. Foreigners bought a net 36 billion won, while retail investors sol

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South Korean stocks opened lower Monday amid concerns about the rising inflation pressure and oil prices. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 20.1 points, or 0.67 percent, to 2,986.06 in the first 15 minutes of trading. Stocks fell amid foreign and institutional sell-offs, largely in the wake of the Fed's signal that the present high-price pressure may not subside soon. Investor wariness grew as oil prices remained at a record-high level. Most stocks traded l

South Korea will unveil measures to curb household debt in a way that "strikes a balance" between toughening lending rules based on borrowers' repayment capability and protecting those in actual need of loans for home rentals, the head of the country's financial regulator said Monday. The Financial Services Commission (FSC) is expected to announce a set of measures to tame soaring household debt this week, likely to focus on speeding up implementation of stricter rules on lending base

In 2022, an area that is likely to strain companies’ transition toward a resilient, sustainable economy is the ESG risks in the supply chain. Companies must now closely monitor issues stemming from climate change, labor rights and health and safety throughout the procurement process. Supply chain due diligence Until recently, the management team’s focus on supply chain and procurement has been primarily on technical quality, cost-effectiveness, speed of delivery and reliability. H

Bank stocks in South Korea have long been regarded as an unappealing option for investors, but analysts say it may be their time to shine as the economy makes progress toward normalization and interest rates are no longer at record lows. The country’s big four banking groups -- KB Financial, Hana Financial, Shinhan Financial and Woori Financial -- are expected to see their combined profits grow by double digits in the quarter that ended in September, according to FnGuide, a financial inf

South Korea‘s initial public offering market that hit a record high in the first half has been suffering plunging profit rates since July, market insiders said Sunday. According to Korea Exchange, the country’s stock market operator, stocks of 40 companies sold through public subscriptions saw an average of 27.5 percent in profit from July through Friday. The figure has nearly shed half compared to the 53.8 percent average profit rate of 52 companies’ stocks that went public

Edison, KDB make contrasting remarks over asset-backed financing to normalize ailing SUV maker

Government likely to temporarily cut fuel tax by 15% to ease inflationary pressure

Cargo processed at South Korean seaports advanced 8.1 percent in the third quarter of this year as trade gained traction amid the global economic recovery from the pandemic, the oceans ministry said Sunday. Cargo handled at the country's ports came to 393.03 million tons during the July-September period, up from 363.53 million tons a year earlier, according to the data by the Ministry of Oceans and Fisheries. Handling of export-import cargo surged 8.6 percent on-year to 338.85 million tons in