The South Korean government on Sunday announced heightened vigilance against potential domestic repercussions in light of the escalated tensions in the Middle East following Iran's attack on Israel. President Yoon Suk Yeol convened an emergency meeting with cabinet members and relevant government agencies to discuss strategies to respond to the the ongoing conflict between Iran and Israel. The meeting followed Iran's launch of drones and missiles into Israel early Sunday, apparently in

Korean won-US dollar exchange rate closes at 1,375.4 won, hitting 17-month high

The South Korean economy has largely been on a recovery track on the back of robust growth of exports and manufacturing production, but domestic demand remains weak and uncertainties have grown over global prices of raw materials, the finance ministry said Friday. "Our economy has seen an economic recovery centering on manufacturing output and exports while reporting a high level of employment," the Ministry of Economy and Finance said in the Green Book, its monthly economic assessment

South Korean stocks started lower Friday despite overnight US gains as investors await the Bank of Korea's rate decision later in the day. The benchmark Korea Composite Stock Price Index dropped 16.61 points, or 0.61 percent, to 2,690.35 in the first 15 minutes of trading. Overnight, the Nasdaq Composite jumped 1.7 percent and the S&P 500 rose 0.7 percent on a tech rally, while the Dow Jones Industrial Average was almost flat. Apple soared 4.3 percent, Nvidia surged 4.1 percent, and Amazon c

Korean economy forecast to grow by 2.2% in 2024, 2.3% in 2025

Tax reform plans for corporations participating in value-up programs may struggle to clear parliamentary hurdle

South Korean stocks ended almost flat Thursday thanks to gains in techs and autos despite higher-than-expected US inflation that dimmed hopes for the Federal Reserve's early rate cuts. The Korean won sharply fell to the lowest point in 17 months against the US dollar. After starting 1.45 percent lower, the benchmark Korea Composite Stock Price Index pared earlier losses by rising 1.8 points, or 0.07 percent, to close at 2,706.96. Trade volume was moderate at 522.4 million shares worth 12.5

South Korea's national debt surged by nearly 60 trillion won ($44 billion) last year, reaching a record high. According to a report on the 2023 national settlement of accounts approved at a Cabinet meeting, the country's national debt stood at 1,126.7 trillion won, up by 59.4 trillion won from 2022. The total includes 1,092.5 trillion won owed by the central government and 34.2 trillion won owed by provincial governments, increasing by 59.1 trillion won and 300 billion won, respectively, from th

South Korean stocks started sharply lower Thursday as higher-than-expected US inflation data poured cold water on investors' hopes for early rate cuts. The benchmark Korea Composite Stock Price Index plunged 39.34 points, or 1.45 percent, to 2,665.82 in the first 15 minutes of trading. Overnight, major US indexes lost ground as the release of a key measure of inflation dashed investors' hopes that the Federal Reserve may start cutting its rates soon. The US' consumer price index f

South Korea's exports rose 21.6 percent on-year in the first 10 days of April on robust global demand for semiconductors, data showed Thursday. Outbound shipments reached $16.44 billion in the April 1-10 period, compared with $13.52 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports advanced 13.5 percent on-year to $2.19 billion. Imports grew 5.8 percent on-year to $18.4 billion during the period, resulting in a trade deficit of $2 billion.

South Korean stocks ended lower Tuesday as investors grew more cautious ahead of parliamentary elections and the release of key US inflation data later this week. The Korean won fell against the US dollar. After starting higher, the benchmark Korea Composite Stock Price Index lost 12.49 points, or 0.46 percent, to close at 2,705.16. Trade volume was moderate at 458.4 million shares worth 9.48 trillion won ($6.99 billion), with decliners outpacing gainers 489 to 370. Institutions bought stocks wo

South Korean stocks started higher Tuesday ahead of parliamentary elections and the release of key US inflation data later this week. The benchmark Korea Composite Stock Price Index gained 18.76 points, or 0.69 percent, to 2,736.41 in the first 15 minutes of trading. Overnight, major US indexes were almost flat as investors awaited the March consumer price index report, a key measure of inflation, to be released later this week. Investors' eyes are also on the results of South Korea's

Foreign investors sustained a five-month buying streak in the South Korean stock market, resulting in an unprecedented quarterly volume. The Financial Supervisory Service disclosed Monday that foreign investors amassed a total of 15.8 trillion won ($11.67 billion) worth of local shares in the first quarter of this year, marking the highest recorded amount since the agency started compiling data in 1998. In March, approximately 5.1 trillion won streamed into the domestic stock market from oversea

South Korean stocks ended slightly higher Monday on the back of autos and batteries following stronger-than-expected US jobs data. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 3.44 points, or 0.13 percent, to 2,717.65. Trade volume was moderate at 611.2 million shares worth 10.36 trillion won ($7.6 billion), with decliners outpacing gainers 590 to 277. Foreigners bought 207.6 billion won worth of local shares, while retail investors and instit

An economic surveillance organization in Asia has expected the South Korean economy to expand 2.3 percent this year on rising exports, Seoul's finance ministry said Monday. The ASEAN+3 Macroeconomic Research Office made the assessment in its regional report, noting that the recovery of the semiconductor sector will boost exports and lead the overall economic growth, according to the Ministry of Economy and Finance. Last year, the Korean economy expanded 1.4 percent amid a global economic sl