South Korea's exports of pharmaceutical and bio technologies surged from a year earlier in the first half of the year, data showed Saturday. In the first six months of the year, the country exported 4.5 trillion won ($3.26 billion) worth of pharmaceutical and bio technologies, up 55 percent from 2.9 trillion won for the same period last year, according to the data from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The number of export deals dropped to seven from 12 over

The financial regulator has lowered maximum rates for loans extended by secondary lenders, such as savings banks, to people with mid- and low-level credit scores, market sources said Saturday. According to the sources, the Financial Services Commission has cut the maximum rate on loans from mutual finances to 10.22 percent in the second half of the year from the 10.5 percent applied in the first six months. The maximum rate for midrange interest rate loans from savings banks has also been reduce

Seoul shares ended higher Friday as investors waited for clues about the direction of the US rate decision with key data due later in the day. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 8.02 points, or 0.29 percent, to 2,792.08. Trade volume was moderate at 601.1 million shares worth 10.8 trillion won ($7.8 billion), with winners outnumbering losers 578 to 294. Foreigners and institutions purchased local shares worth 29.2 billion

South Korea's imports of crude oil fell 2.5 percent on year in 2023, data showed Friday, as consumption of petroleum products declined last year. South Korea imported 1.01 billion barrels of crude oil last year, down from 1.03 billion barrels in 2022, according to data compiled by the Korea National Oil Corp. The Middle East accounted for 71.9 percent of South Korea's crude oil imports last year, up from 67.4 percent in 2022. South Korea's dependency on the Middle East crude oil h

Seoul shares opened a tad higher Friday ahead of the release of the Federal Reserve's preferred gauge of inflation. The benchmark Korea Composite Stock Price Index added 2.61 points, or 0.09 percent, to 2,786.67 in the first 15 minutes of trading. Overnight, Wall Street closed slightly higher, as the US personal consumption expenditures (PCE) price index for May is set to be released Friday, the latest data for any clues on the Fed's monetary policy direction. In Seoul, market bellweth

South Korea's industry ministry said Friday it has discussed ways to expand ties in addressing supply chain and export control issues with Washington under a regular bilateral dialogue. Industry Minister Ahn Duk-geun and his US counterpart, Gina Raimondo, discussed related matters during the Supply Chain Commercial Dialogue in Washington on Thursday, according to the Ministry of Trade, Industry and Energy. The SCCD is a regular ministerial forum, proposed during US President Joe Biden'

Top economic policymakers from South Korea, the United States and Japan agreed to deepen their trilateral cooperation on semiconductors and key minerals supply chains in a meeting held in Washington on Wednesday. Korean Minister of Trade, Industry and Energy Ahn Duk-geun, US Secretary of Commerce Gina Raimondo and Japanese Minister of Economy, Trade and Industry Saito Ken held the inaugural three-way ministerial meeting to discuss measures to promote the development of core and emerging techno

Seoul shares closed lower Thursday amid investors' disappointment on Micron Technology's earnings results. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 7.99 points, or 0.29 percent, to 2,784.06. Trade volume was moderate to a little slim at 387.4 million shares worth 10.1 trillion won ($7.3 billion), with losers far outnumbering winners 619 to 262. Foreigners and retail investors purchased local shares worth 509.5 billion

Presidential office reviews bringing down maximum tax rate from 50% to 30%

Korea Exchange CEO Jeong Eun-bo held a roundtable meeting with mid-sized companies listed on the nation’s main bourse Kospi to encourage their active participation in the government-led corporate “value-up” program. This is the third meeting of its kind following Jeong's previous ones with large corporations and financial firms. Earlier this year, the government announced the value-up program aimed at elevating the undervalued stock prices of Korean firms, a phenomenon w

Top industry officials of South Korea, the United States and Japan expressed concerns Wednesday over the "weaponization" of economic dependencies on certain supply sources for strategic goods as they held their first trilateral meeting on economic security in Washington. South Korean Industry Minister Ahn Duk-geun, US Commerce Secretary Gina Raimondo and Japanese Industry Minister Ken Saito issued a joint statement following the Commerce and Industry Ministerial Meeting, which undersco

Seoul shares opened lower Thursday despite overnight gains on Wall Street as big-cap tech stocks started off weak. The benchmark Korea Composite Stock Price Index fell 24.58 points, or 0.88 percent, to 2,767.47 in the first 15 minutes of trading. Overnight, Wall Street closed higher, mainly driven by megacap tech shares' performance. But Micron Technology declined after earnings results failed to meet investors' expectations. In Seoul, market bellwether Samsung Electronics lost 0.74 pe

Seoul shares closed higher Wednesday as big-cap tech shares gained ground tracking a US tech rebound. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index increased 17.66 points, or 0.64 percent, to 2,792.05. Trade volume was moderate at 524.6 million shares worth 11.02 trillion won ($7.9 billion), with losers outnumbering winners 510 to 355. Foreigners purchased 502.6 billion won worth of shares, offsetting retail investors and institutions' sale o

South Korea will allow offshore investors' overdrafts of the Korean currency over the course of foreign exchange transactions and will ease relevant regulations in an effort to improve their access to bond trading and promote investment, the finance ministry said Wednesday. It is part of the government's planned revision to the Foreign Exchange Transactions Regulations, which come along with the envisioned implementation of omnibus accounts by clearing houses Euroclear and Clearstream

Seoul shares opened lower Wednesday as big-cap tech and auto shares started in negative territory. The benchmark Korea Composite Stock Price Index fell 5.23 points, or 0.19 percent, to 2,769.16 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.76 percent, while the Nasdaq Composite and S&P 500 gained 1.26 percent and 0.39 percent, respectively, as megacap tech shares gained ground. In Seoul, tech behemoth Samsung Electronics lost 0.87 percent, while No. 2