South Korea's household saving rate is likely to rise if a pandemic-hit economic crisis persists, in a potential move that could delay a recovery in consumption, a research note from the Bank of Korea (BOK) showed. The yearlong coronavirus pandemic has prompted consumers in South Korea to curb spending, mainly due to stricter social distancing measures, and stockpile cash. "It is true that the higher domestic household saving rate this year is mainly attributable to a contraction in spend

South Korea's trade mediation agency said Sunday it resolved 120.7 billion won ($108.4 million) worth of unfair contracts through arbitration last year. The Korea Fair Trade Mediation Agency said it mediated 1,308 cases of unfair trade, subcontract work, franchise operation and retail business last year. Through the agency's dispute settlement, smaller firms received compensation of 109.1 billion won last year. When taking saved litigation costs into account, the value topped 120 billion won,

Earnings of brokerage houses in South Korea soared to a record-high last year amid a stock rush, chasing closely after those of first-tier banks, data showed Sunday. The combined operating profit of the top 20 brokerages by capital base stood at 7.85 trillion won ($7.09 billion) in 2020, soaring 36.7 percent from the previous year, according to the Financial Supervisory Service's regulatory filing. The brokerages' yearly net profit jumped 25.1 percent on-year to 5.96 trillion won. Their total

South Korea logged a $24.82 billion trade surplus with the United States last year, up 18.5 percent from the previous year, according to data compiled by the US Department of Commerce on Sunday. The country's shipments to the world's largest economy fell 1.9 percent on-year to $76.01 billion, while its imports dropped 9.4 percent to $51.21 billion over the cited period, the data showed. South Korea was the US's 7th largest trading partner last year in terms of both exports and imports, the dat

The social distancing rule that prohibits a gathering of more than five people during the Lunar New Year holiday has led Koreans to seek practical alternatives to the tradition of gifting cash to children -- now via mobiles, not in-person. Kakao Bank, South Korea’s internet-only lender, is capitalizing on the special circumstances created by the coronavirus that restrict in-person family visits. The firm has launched a giveaway event for those who send or receive New Year‘s mone

Another battle round between Hanjin, KCGI likely to draw market attention

Bank of Korea under pressure to tackle digital currency development, payment settlement oversight and mandate issues

The parcel volume in South Korea rose 21 percent last year from a year earlier as more people shifted to online shopping amid the COVID-19 pandemic, government data showed Saturday.    A total of 3.37 billion parcels were delivered in the nation by 18 logistics companies in 2020, surpassing 3 billion for the first time, according to the data by the Ministry of Land, Infrastructure and Transport.     The parcel volume exceeded 2 billion in 2016 and had posted around

South Korea's four major commercial banks appear likely to maintain their creditworthiness this year due to adequate capitalization and resilient asset quality, according to a recent report from S&P Global Ratings.    Kookmin Bank, Shinhan Bank, KEB Hana Bank and Woori Bank have emerged from a pandemic-scarred 2020 with asset quality intact.    Earnings for the whole of 2020, announced last week, show a decline in net interest margins and slightly higher credit costs f

Amateur Korean investors say extension of short selling ban is temporary relief, designed to woo voters ahead of April by-elections

‘Ma-yong-seong,’ a portmanteau of three Seoul districts -- Mapo, Yongsan, and Seongdong -- is where Koreans in their 20s and 30s most want to invest, while Gangnam is the place favored by those in their 40s, according to poll results recently released by property data provider Zigbang. A survey of 1,796 Zigbang subscribers showed that 15.5 percent of participants said they think real estate properties in the three districts are the best investment choices, while 15.3 percent said

February is set to be another busy month for the South Korean stock market as a large number of companies are seeking to launch initial public offerings on retail investors’ strong appetite for direct investments, according to investment banking sources. This month alone, 12 firms are scheduled to float their shares on the stock market or hold retail subscriptions. The IPO subscriptions of five newcomers such as semiconductor equipment manufacturer Auros Technology and medical artificia

South Korean benchmark Kospi bounced back after a roller coaster ride Wednesday ahead of the Lunar New Year holiday, surpassing the 3,100-point mark. The main bourse got off to a slightly strong start but fluctuated widely until the late afternoon trade. The key stock index then moved upward during the remaining trading hours to close at 3,100.58 points, 15.91 points or 0.52 percent higher from the previous session’s close. Despite a brief respite overnight on Wall Street and the local

South Korean stocks snapped a two-session losing streak to end higher Wednesday, buoyed by strong gains in tech and auto stocks, ahead of the Lunar New Year holiday. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.91 points, or 0.52 percent, to close at 3,100.58 points. Trading volume was high at about 2.13 billion shares worth some 18.07 trillion won ($16.32 billion), with gainers outnumbering losers 486 to 334. Foreigners picked up

Foreign investors remained net sellers of South Korean equities in January, extending their selling spree for a second straight month, the central bank said Wednesday. Foreigners sold a net $1.07 billion worth of local stocks last month, compared with a net selling of $2.36 billion in December last year, according to the Bank of Korea (BOK). Offshore investors turned net buyers of Korean bonds worth $1.32 billion last month, the BOK said. Meanwhile, volatility in South Korea's currency slight