South Korea's science ministry said Thursday the country's nuclear research institute has won a deal worth $3.88 million to export nuclear reactor technology to Bangladesh. The Korea Atomic Energy Research Institute has signed a deal with the Bangladesh Atomic Energy Commission to deliver digital instrumentation and control systems for the South Asian country's research nuclear reactor by January 2023, according to the Ministry of Science and ICT. The South Korean nuclear institute will provid

The trading volume of South Korea's gold market soared in the first half this year, largely as pandemic-incurred uncertainties boosted individuals' demand for safe assets, the local exchange said Thursday. The average daily trading volume of gold in the Korea Exchange (KRX) jumped 19.4 percent on-year to 126.2 kilograms in the January-June period, according to the bourse operator's data. Its cumulated gold trading volume in the six-month period stood at 15.5 tons. The average daily turnover in

South Korea's air passenger traffic fell 29 percent in the first half from a year earlier amid the prolonged coronavirus pandemic, the transport ministry said Thursday. From January to June, the number of passengers on domestic and international routes fell to 16.67 million from 23.58 million in the year-ago period, as governments imposed entry restrictions due to the pandemic, the Ministry of Land, Infrastructure and Transport said in a statement. The number of passengers on international rou

South Korea's central bank on Thursday held its benchmark policy rate unchanged at a record low of 0.5 percent amid a recent spike in COVID-19 infections but strongly hinted it may conduct its first post-pandemic rate hike by the end of this year. Bank of Korea (BOK) Gov. Lee Ju-yeol said the central bank will review whether a policy adjustment is needed at next month's rate-setting meeting, maintaining his hawkish stance on inflation and financial imbalances. The BOK "could raise its key

South Korean stocks opened higher Thursday, tracking gains on Wall Street as investors are relieved by the US Federal Reserve's reiteration of its dovish stance. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.48 points, or 0.2 percent, to 3,271.29 points in the first 15 minutes of trading. Stocks traded higher, taking a cue from Fed Chairman Jerome Powell's reassurance that that the time is not ripe for an early tapering of accommodative policies. Overnight, the Dow Jones I

Amicogen Inc. on Thursday announced that it will sell stocks to raise 22.3 billion won The proceeds from the stock offering will be used primarily to finance its facilities. According to a regulatory filing, the company will issue 532,198 common shares at a price of 41,850 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)

IMM Private Equity, the third-largest private equity firm in Seoul, with $5.4 billion assets under management, is in talks to become the largest shareholder of South Korea’s largest kitchen and interior furniture goods manufacturer Hanssem, a filing showed Wednesday. The proposed strategic investor and the seller group has signed a memorandum of understanding regarding the transaction. Hanssem did not disclose the proposed acquisition price. This gives IMM PE the exclusive rights to nego

The Investor, the financial news platform run by The Korea Herald, is to jointly hold a webinar on government-backed digital currencies and the future of cryptocurrencies next week. As a co-host, The Investor joins with the Asia News Network, an alliance of 23 national media outlets in 20 Asian countries, to discuss the prospect of digital currencies and their role in decentralized finance in the post-COVID era. The Star of Malaysia, also an ANN member, participates as a co-host of the virtu

South Korea will scale up its “Korean New Deal” stimulus package by making additional investments worth 60 trillion won ($52.2 billion) to nurture human talents for future industries, and improve ill-functioning employment and the social safety net, the government said Wednesday. Marking the first anniversary of the launch of the Korean New Deal initiative, President Moon Jae-in unveiled an upgraded version focusing on responses to deepening social inequality and economic polar

South Korean stocks edged down Wednesday, snapping a two-day winning streak as US losses amid renewed inflationary pressure weakened investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) dropped 6.57 points, or 0.2 percent, to close at 3,264.81 points. Trading volume was moderate at about 896 million shares worth some 12.8 trillion won ($11.1 billion), with losers outnumbering gainers 514 to 334. Foreigners sold a net 273 billio

Cryptocurrencies remained in negative territory for a second day on Wednesday, with investor sentiment indicators hinting fear amid toughened regulations by financial watchdogs across the globe. South Korea‘s digital asset exchange Upbit operator Dunamu’s Digital Asset Fear and Greed Index -- standing at 29.76 on Wednesday, the lowest in 18 days -- showed that investors were gripped by fear for the tenth consecutive day on Wednesday. An index figure between 20 and 40 means market

No. of small shareholders of 2,041 listed firms surges nearly 80%

South Korean banks' household loans swung to an upturn in June following the previous month's one-off decline, central bank data showed Thursday. Outstanding bank loans to local households came to 1,030.4 trillion won ($896 billion) as of end-June, up 6.3 trillion won from a month earlier, according to the data from the Bank of Korea (BOK). It marks a turnaround from the 1.6 trillion-won on-month decline in May, which was attributed to repayments of loans by customers after the initial public

South Korea said Wednesday it plans to expand its investment in its signature New Deal policy projects in a bid to create more jobs and better prepare for the post-pandemic era. Under the "New Deal 2.0" initiative, the government will invest 220 trillion won ($191 billion) in pushing for digital and green energy projects and promoting inclusive economic growth by 2025, up from its earlier investment plan of 160 trillion won. It is an upgraded version of the New Deal 1.0 drive unveile

The delinquency rate for South Korean banks' won-denominated loans rose for the second straight month in May due to an increase in overdue corporate and household loans, the financial watchdog said Wednesday. The rate for bank loans more than 30 days overdue stood at 0.32 percent at the end of May, up from 0.3 percent the previous month, according to the Financial Supervisory Service (FSS). Banks' loan delinquency rate hit a record low of 0.28 percent in March. Compared with a year earlier, t