South Korea's trade minister plans to visit the United States this week to win support for her bid to become the new head of the World Trade Organization (WTO). Trade Minister Yoo Myung-hee will depart for her four-day trip to Washington on Tuesday, according to the Ministry of Trade, Industry and Energy, where she plans to meet US government and business officials. During the trip, Yoo is also expected to discuss a wide array of issues related to the economic ties between South Korea and the

Shares in HDC Hyundai Development Co. and Asiana Airlines Inc. fell Monday after the property developer's planned acquisition of the debt-ridden carrier collapsed last week amid the COVID-19 pandemic. HDC fell 0.2 percent to 24,700 won ($21) and Asiana plunged 2.5 percent to 3,965 won, far underperforming the broader KOSPI's 1.3 percent gain. But Asiana's parent Kumho Industrial Co. rose 1.2 percent to end at 6,820 won as the deal's rupture was already factored in the stock price. "HD

South Korean investors have poured a huge amount of money into initial public offerings (IPO) this year amid ample liquidity, industry sources said Monday. Investor deposits for IPO subscription in Asia's fourth-largest economy came to 150.9 trillion won ($134 billion) between January and last week, about 1.5 times the full-year figure for 2019. A total of 45 companies have gone public this year, compared with 99 issues last year. This year's amount is also well over the 85 trillion won in

SEJONG -- South Korea seeks to launch formal negotiations with Uzbekistan by the end of this year to sign a bilateral free trade deal, Finance Minister Hong Nam-ki said Monday. South Korea will complete domestic procedures this month to begin free trade talks with Uzbekistan, Hong told a meeting with economy-related ministers. Hong said Uzbekistan is one of the important partners for South Korea's New Northern Policy aimed at improving the nation's partnerships with countries located north of

South Korean shares opened higher Monday, buoyed by tech gains and eased social distancing measures. The Korea Composite Stock Price Index (KOSPI) rose 17.38 points, or 0.73 percent, to 2,414.07 in the first 15 minutes of trading. The index rose above the 2,400-point mark as chipmakers continued to gain despite lingering valuation pressure on tech heavyweights in major economies. Investor sentiment also improved as the South Korean government eased the social distancing level to Level 2 in

Shinhan Financial Group’s plan to increase capital, list new common shares and invite foreign private equity firms as new shareholders in October has left local market watchers with doubts about the motivation behind the move. Last week, the nation‘s No. 1 banking group by total assets said the fundraising is aimed at a securing long-term capital buffer amid COVID-19 uncertainties and a new growth driver in its global business. Questions still linger, according to analysts here, a

Financial intelligence firm PEI said Sunday it plans to host its PERE Investor Forum: Seoul Virtual Experience 2020 on Tuesday. The virtual event is designed to connect South Korean investors with global fund managers and investment advisers to get a glimpse of the future capital flows in the real estate investment scene in and out of Korea through virtual sessions. Sharing the persepctives of Korean institutional investors will be representatives of the Public Officials Benefit Association,

South Korea made a top 10 list of attractive investment destinations around the world, but remained at the bottom among comparable Asian nations, according to a report Sunday. The report recently published by European think tank The European House Ambrosetti showed Korea scored 80.06 in the global attractiveness index, ninth highest among 144 nations. The GAI is decided by gauging a nation’s capability to attract foreign investment and its investment environment. In 2016, when such

Global real estate services firm Cushman & Wakefield won the top commercial real estate adviser and consultant spot by Euromoney’s 2020 Real Estate Survey for the third consecutive year, the company said Sunday. Euromoney Real Estate Survey’s country result also showed that Cushman & Wakefield’s Korean unit won the award here, along with other 15 countries including the United States, Japan and China. “The success of winning the Euromoney Real Estate Awards in

Responding to an explosive surge in Korean lenders’ credit loans extended to borrowers, financial authorities have embarked on working-level talks with banking circles to implement selective loan regulations, officials said Sunday.  The move came as outstanding unsecured loans extended to individuals by the nation’s five major banks -- KB Kookmin, Shinhan, Hana, Woori and NH NongHyup -- surged to 124.3 trillion won ($105 billion) as of end-August, up 4.1 trillion won from Jul

SEJONG -- The balance for credit-based stock purchases has shot up about 120 percent in South Korean capital market over the past five months to reach an all-time high. According to the Korea Financial Investment Association, the outstanding credit for stock buying offered by brokerages came to 17.21 trillion won ($14.49 billion) as of Sept. 10. By market, investors, including individual investors, owe brokerages for stocks worth 8.61 trillion on the first-tier Kospi and worth 8.51 trillion w

Banking group announces capital raise involving Hong Kong-based equity in unlikely moment, prompting questions on motives

South Korea's financial watchdog is considering tightening rules on unsecured loans as more people took out such lending excessively to buy homes or invest in stocks, financial sources said Sunday. The financial regulator has stiffened rules on mortgage lending in a bid to curb rising housing prices, but people rushed to take out credit loans to buy houses amid cheap borrowing costs. A rally in the stock market also prompted people to borrow unsecured loans for stock investments, including pub

South Korea's key stock index has posted the second-highest profit rate among its Group of 20 peers since this year's bottom, helped by robust buying by individuals, the bourse operator said Sunday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,396.69 points Friday, soaring 64.42 percent from 1,439.43 on March 19. All G-20 countries saw their main stock indices plunge to the year's lowest in mid-March, when investors' fear peaked over the new coronavirus pandemic. The

South Korean shares are likely to trade in a tight range in the coming week on valuation concerns, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 2,396.69 points on Friday, up 1.2 percent from 2,368.25 a week ago. The index wavered the entire week, roiled by more investors questioning whether stock prices had risen too far beyond their proper values. Such hesitation was a factor in the last session, which finished nearly flat, up 0.01 percent. Local analyst