South Korea’s brokerage house KB Securities said Tuesday it has teamed up with New York-based multinational investment bank Jefferies Group to establish a co-brand alliance for equity research, sales and trading. Under the term, Jefferies will distribute equity research on listed companies in Korea produced by KB Securities on a co-branded basis to Jefferies’ global institutional client base. KB Securities will also offer Korean equity brokerage services to Jefferies and its interna

Sales of South Korea's transportation industry reached an all-time high in 2019 thanks to a surge in demand for home deliveries, government data showed Tuesday. The transportation sector's top line stood at nearly 152 trillion won ($140 billion) last year, up 3.5 percent from the previous year, according to the data from Statistics Korea. It marked the industry's largest annual sales figure since 1964, when data tracking began. The transportation industry's sales also increased for the fifth c

South Korean banks saw their financial health improve in the third quarter from three months earlier as they reported higher net profits and raised capital amid the coronavirus pandemic, data showed Tuesday. The average capital adequacy ratio of 19 commercial and state-run banks stood at 16.02 percent as of end-September, up 1.46 percentage points from the end of June, according to the data from the Financial Supervisory Service (FSS). A key barometer of financial soundness, the ratio measure

The portion of single-member households in South Korea surpassed 30 percent of the total for the first time in 2019, data showed Tuesday, amid a delay in marriage and rapidly aging population. One-person families accounted for 30.2 percent of the total last year, up 29.3 percent from the previous year, according to the data by Statistics Korea. Households consisting of a single member totaled 6.15 million in 2019, up from 5.85 million the previous year, the statistics agency said. One-person

Rates stood at 76% in Korea, 85% in Japan for people aged 25-64

South Korean shipbuilders outpaced their Chinese rivals in terms of new orders for the fifth consecutive month in November, industry data showed Tuesday. According to the data provided by global market researcher Clarkson Research Service, South Korean shipyards won new orders totaling 990,000 compensated gross tons (CGTs), representing 60 percent of the 1.64 million CGTs ordered globally in November. The South Korean shipbuilders were followed by Chinese shipbuilders with 600,000 CGTs, or 37

The stock value of Lee Kun-hee, the late chief of South Korea's top conglomerate Samsung Group, soared more than 21 percent this year due largely to a surge in the share price of group flagship Samsung Electronics Co., data showed Tuesday. The value of stocks held by Lee, who died on Oct. 25 after being bedridden following a heart attack in 2014, totaled 21.04 trillion won ($19.4 billion) as of Wednesday, according to the data from market researcher CXO Institute. It was up 21.1 percent from L

South Korea's tax revenue grew 6.8 trillion won ($6.3 billion) in October due largely to a rise in income tax revenue, the finance ministry said Tuesday. The country collected 39.1 trillion won in taxes in October, compared with 32.3 trillion won the previous year, according to the Ministry of Economy and Finance. The rise in tax revenue mainly came as income tax revenue rose 4.1 trillion won on-year to 10.5 trillion won. In October, the government's total revenue, including tax income, amoun

South Korean stocks opened lower Tuesday, taking a cue from overnight losses on Wall Street amid concerns over the new coronavirus resurgence in global markets. The benchmark Korea Composite Stock Price Index fell 8.83 points, or 0.32 percent, to 2,736.61 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average retreated 0.49 percent to 30,069.79 points on rising COVID-19 cases and disappointing jobless data. The Nasdaq composite gained 0.45 percent, but the S&P 500

The finance ministry said Tuesday it has allocated 72.4 percent of state fiscal spending to be implemented during the first half of next year in an effort to cope with the new coronavirus outbreak and an economic slowdown. The government plans to front-load 331 trillion won ($305.2 billion) of next year's fiscal spending totaling 459.9 trillion won in the January-June period, according to the Ministry of Economy and Finance. The amount is higher than 71.4 percent of the budget spending allocat

South Korean brokerage houses have raised their target prices of Samsung Electronics Co. on signs of a recovery in global chip demand, sources said Tuesday. Some analysts predict the share price of Samsung Electronics, the world's top memory chip maker, to rise as high as 90,000 won ($83) after reaching the 70,000 won range on hopes of a rebound in its semiconductor business. Samsung Electronics, also the No. 1 smartphone manufacturer in the world, finished at an all-time high of 72,900 won on

South Korea's main bourse on Monday postponed its decision on whether to delist the scandal-ridden drugmaker Kolon TissueGene, Inc. as it needs more time to make a final decision on the company's delisting. The postponment is expected to provide tech-heavy KOSDAQ-listed Kolon TissueGene a chance to present another turnaround program to the KOSDAQ market committee under the main Korea Exchange (KRX). The main stock exchange said it will reopen the review meeting, without giving the timeframe.

China's exports rose in November at their fastest pace in almost three years, official figures showed Monday, as a surge in demand in key markets ahead of the festive period also helped the country post a record trade surplus. The reading is the latest spot of good news out of the world's number two economy, which has been enjoying a bounceback from virus-induced lockdowns that sent it into a rare contraction earlier in the year. Overseas shipments grew 21.1 percent on-year last month to $268

The Public Officials Benefit Association said Monday it plans to commit $100 million indirectly to foreign real estate investment trusts listed on stock markets of developed countries. The South Korean institutional investor, overseeing 15.2 trillion won ($14 billion) worth of assets, added that it would select a new external partner based outside of Korea by January 2021. POBA‘s open-ended investment will be made in a separately managed account established by the partnering fund manag

Government remains prudent over carbon tax introduction