South Korean shares are expected to move in a tight range next week, due to concerns over the further spread of the coronavirus and North Korea's additional provocations.     The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,141.32 points Friday, up 0.42 percent from a week ago.     In the face of growing concerns over a potential second wave of virus outbreaks and Pyongyang's aggressive actions, the KOSPI suffered a 4.76 perc

The nation’s sole bourse operator announced Friday that it has decided to examine SillaJen’s listing eligibility. “We are set to decide whether to delist SillaJen or give it some more time for improvement after reviewing for 15 trading sessions,” said an official of Korea Exchange (KRX). “If the firm submits its improvement plan within the period, our review will be delayed by another 20 trading sessions.” Depending on KRX’s conclusion, SillaJen ma

South Korean stocks pared earlier losses to close a tad higher Friday, with investors weighing cautious optimism over the new coronavirus tally that is still high yet on a decline. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.84 points, or 0.37 percent, to close at 2,141.32. Trading volume was high at about 1.1 billion shares worth some 12.1 trillion won ($10 billion), with gainers outnumbering losers 432 to 423. The index started o

South Korea’s overseas direct investment fell 15.3 percent on-year in the first three months of the year, weighed on by the coronavirus pandemic, with investments to China and Hong Kong having fallen the most, data from the Ministry of Economy and Finance showed Friday. Local companies invested a combined $12.6 billion in the cited period, compared with $14.9 billion reported for the same quarter last year. This year’s first quarter also marked the first time the figure turned int

Fiscal chief presses for swift passage of 3rd extra budget bill

South Korea's current account surplus with the United States and China sharply narrowed in 2019 from a year earlier amid a prolonged trade dispute between the world's largest economies that undermined its exports, as well as its current account balance, central bank data showed Friday. South Korea posted a current account surplus of $22.05 billion with the United States in 2019, compared with a $24.67 billion surplus posted in 2018, according to the data from the Bank of Korea (BOK). Its curr

South Korean shares opened lower Friday amid concerns over a recent rise in new coronavirus infection cases here and abroad, with lingering inter-Korean tensions further spooking investors. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.06 points, or 0.38 percent, to 2,125.42 in the first 15 minutes of trading. The index's loss was largely attributed to the growing investor concerns over the high infection toll in major economies and at home, which countered economic recovery

SEJONG -- Finance Minister Hong Nam-ki on Friday renewed calls for the National Assembly to approve the third extra budget to help revive the virus-hit economy, saying the government will spare no efforts to achieve positive growth this year. Earlier this month, South Korea proposed its third extra budget of 35.3 trillion won ($29 billion) meant to help key industries cushion the economic blow from the coronavirus pandemic and protect jobs. "I earnestly ask the National Assembly to appr

Criticism grows over new rules for depriving homebuying opportunities from non-speculative investors, ‘exception clauses’ in the works, officials say

Number of ‘extended-based’ unemployed up 1 million since Jan. 1

South Korean stocks closed lower Thursday, ending a two-session gaining streak, on investor concerns over a second wave of new coronavirus infections in the world's two largest economies. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 7.57 points, or 0.35 percent, to close at 2,133.48. Trading volume was moderate at about 754 million shares worth some 10.8 trillion won ($8.9 billion), with winners outnumbering losers 523 to 331. The dro

South Korean auto financing firm Hyundai Capital said Thursday that it has issued three-year Swiss franc-denominated green bonds worth 300 million francs ($316 million). The bonds are being issued by the subsidiary of Hyundai Motor Group for the automaker’s lease financing programs on its green car lineup. It is the firm’s third overseas green bond issuance since 2016. A green bond is specifically earmarked to be used for climate and environmental projects. The latest deal enabl

Despite their continued selling spree of local stocks, foreign investors have grabbed 427 billion won ($351.4 million) worth shares of local biopharmaceutical firm Celltrion’s key affiliates, according to stock market data Thursday. The Korea Exchange noted that between June 1-17, Celltrion became the most purchased stock by offshore investors here, with net purchase of 291.1 billion won. Celltrion Pharm was first on the list of foreigners’ top-bought stocks in the tech-heavy Kos

The Asian Development Bank (ADB) on Thursday sharply revised down its 2020 growth estimate for South Korea, along with that for the entire Asian region, expecting Asia's fourth-largest economy to shrink 1 percent from a year earlier. The revision marks a turnaround from a 1.3 percent on-year growth forecast in April. Last year, the Korean economy expanded 2 percent. "In a regular supplement to its annual flagship economic publication, the Asian Development Outlook 2020 released in April,

South Korea's trading volume with 21 countries that participated in the 1950-53 Korean War soared in the past 60 years on its economic growth and increased establishment of diplomatic ties with them, a local business lobby said Thursday. The trading volume with the 21 nations reached $314.6 billion in 2019, a dramatic hike from $200 million worth of trade with 12 participating nations in 1960, the Federation of Korean Industries (FKI) said in a statement. "South Korea needs to expand fr