South Korea is closely monitoring rising prices of agricultural and oil products, the vice finance minister said Friday, amid concerns that inflation may pick up amid an economic slowdown. First Vice Finance Minister Kim Yong-beom said the government plans to draw up measures to respond to a potential surge in such prices, if needed. "Not only prices of agricultural and livestock products but also those of raw materials, including crude oil and nonferrous metal, have continued to stay fir

The South Korean economy faces lingering uncertainty as domestic demand and the job market remain sluggish amid a flare-up in new coronavirus cases, the finance ministry said Friday. The manufacturing sector and investment are improving amid robust exports, but the service segment is suffering setbacks amid the third wave of the pandemic, according to the Ministry of Economy and Finance. "The real economy faces persistent uncertainty as domestic demand remains sluggish and job data point

Gold prices in South Korea hit a 10-month low as hope of an economic recovery has made the bullion less attractive, data showed Friday. A gram of gold changed hands at 63,900 won ($57.7) on the domestic market Friday, down 0.48 percent from the previous session, according to the Korea Exchange. It marked the lowest price since April 6 last year, when the price stood at 63,780 won. The closing prices were also down 20.22 percent from an all-time high of 80,100 won per gram recorded on July 28

South Korean stocks opened nearly flat Friday as foreign and institutional investors continued to sell over the yield hike concerns on Wall Street. The benchmark Korea Composite Stock Price Index fell 0.57 point, or 0.02 percent, to 3,086.09 points in the first 15 minutes of trading. Top cap Samsung Electronics slipped 0.12 percent, but No. 2 chipmaker SK hynix gained 2.78 percent. Leading chemical firm LG Chem climbed 0.32 percent, while rechargeable battery maker Samsung SDI retreated 1.6

South Korea's producer prices rose 0.9 percent on month in January, supported by a modest rise in prices of farm goods and energy, central bank data showed Friday. The producer price index, a barometer of future consumer inflation, stood at 104.88 in January, compared with 103.90 a month earlier, according to the Bank of Korea (BOK). The index gained 0.8 percent from the previous year, the BOK data showed. The prices of agricultural goods gained 7.9 percent on-month in January, compared with

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Real estate investment trusts, which allow individuals to make indirect investment in properties, have gained traction recently from investors facing heavier regulations on home buying. The entire value of assets owned by REITs stood at 61.4 trillion won ($55 billion) in January, up 26.3 percent on-year from 48.6 trillion won, according to the Ministry of Land, Infrastructure and Transport on Thursday. The government has strengthened rules on mortgage loans, real estate tax, and redevelopme

The Financial Supervisory Service on Thursday warned retail investors to be cautious of initial public offerings launched by promising but still loss-making companies, stressing that short-term gains may not be achievable. “As the rules allow (loss-making) companies (but with growth potential) to launch an IPO, profits may not occur within a short period of time after listing,” the FSS said in a statement. As part of efforts to encourage budding companies to draw investment, t

South Korea’s Finance Minister said Thursday that the details of the COVID-19 financial support programs nearing their expiration will be “decided by early March,” indicating the government’s willingness to continue the programs. “The details of all the financial sector’s loan programs regarding its extension of maturities and delay of interest payments will be decided by early March,” Finance Minister and Deputy Prime Minister Hong Nam-ki said ahead o

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Foreign currency deposits at banks in South Korea fell in January on a decline in corporate holdings of the US dollar deposits, central bank data showed Thursday. Outstanding foreign currency-denominated deposits held by residents amounted to $89.3 billion as of end-January, down $4.8 billion from the previous month, according to the data from the Bank of Korea (BOK). The decline came as companies repaid their US dollar-denominated debts last month, the BOK said. Residents include local citiz

South Korea's antitrust regulator said Thursday that the value of corporate mergers and acquisitions declined 53.1 percent on-year last year due largely to a lack of mega deals. Corporate deals were valued at 210.2 trillion won ($190 billion) last year, compared with 448.4 trillion won a year earlier, according to the Korea Fair Trade Commission (KFTC). But the total number of corporate mergers and takeovers rose 12.9 percent on-year to 865 last year, it added. Under the country's fair trade

South Korean households' income earned through wages and business operations fell for the third straight quarter in the fourth quarter of last year amid the coronavirus pandemic, data showed Thursday. The average household earned 5.16 million won ($4,670) per month in the October-December period, up 1.8 percent from the previous year, according to the data compiled by Statistics Korea. But household income earned through wages and business operations declined for the third consecutive quarter

South Korean stocks opened lower Thursday, tracking overnight tech losses on Wall Street that stemmed from inflation concerns. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.8 points, or 0.15 percent, to 3,128.93 points in the first 15 minutes of trading. Foreign and institutional appetite for risk assets remained low after the KOSPI's 0.93 percent decline in the previous session. Overnight, the Nasdaq lost 0.58 percent as tech stocks, sensitive to high inflation, retreated