Global credit appraiser Fitch Ratings said Wednesday it has reaffirmed South Korea's sovereign rating at "AA-" with a stable outlook. It is the fourth-highest level on the agency's sovereign ratings table, and Fitch has maintained AA- for South Korea since September 2012 when it upgraded the rating by one notch from A+. "(South) Korea's rating balances robust external finances, resilient macroeconomic performance and a dynamic export sector against geopolitical ri

South Korean stocks closed lower Wednesday as investors awaited clues on the US Federal Reserve's future rate direction, with techs and chemicals leading the overall decline. The local currency closed flat against the US dollar. The benchmark Korea Composite Stock Price Index lost 7.91 points, or 0.3 percent, to 2,641.49. Trade volume was low at 364 million shares worth 9.8 trillion won ($7.38 billion), with losers outpacing gainers 606 to 282. Foreigners offloaded 374.4 billion won worth o

Experts remain ambivalent about ‘sticky’ inflation

South Korean stocks opened lower Wednesday after major blue chips finished bearish on Wall Street. The benchmark Korea Composite Stock Price Index fell 8.84 points, or 0.33 percent, to 2,640.56 in the first 15 minutes of trading. Overnight, the US stock market closed lower, with the Dow Jones Industrial Average falling 1.04 percent and the tech-heavy Nasdaq Composite losing 1.65 percent. US tech giant Apple sharply lost ground amid reports that its sales in China dipped sharply over the first si

South Korean stocks closed lower Tuesday as investors sought profit while awaiting China's economic policy. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 24.87 points, or 0.93 percent, to 2,649.4. Trade volume was moderate at 447 million shares worth 11.9 trillion won ($8.93 billion), with losers outpacing gainers 606 to 282. Foreigners scooped up 85.6 billion won, extending their buying streak to eight consecutive sessions. Institutions

South Korean stocks opened lower Tuesday as investors sought profit after a sharp rise the previous session, with tech and auto shares leading the losses. The benchmark Korea Composite Stock Price Index fell 8.26 points, or 0.31 percent, to 2,666.01 in the first 15 minutes of trading. Overnight, the US stock market closed lower, with the Dow Jones Industrial Average falling 0.25 percent and the tech-heavy Nasdaq Composite losing 0.41 percent. In Seoul, tech shares opened mostly bearish, with Sam

South Korea's economy grew 1.4 percent last year, matching an earlier estimate, amid sluggish exports and tightening monetary policies around the globe, central bank data showed Tuesday. The country's real gross domestic product -- a key measure of economic growth -- increased 1.4 percent last year, in line with the central bank's earlier estimate in January, according to preliminary data from the Bank of Korea. But last year's economic expansion marked a slowdown from a 2.6

Korean banks expand in-person services for older people amid aging population, digitalization push

South Korean stocks closed higher Monday as foreigners extended their buying streak to seven consecutive sessions, with technology and financial shares leading the overall rise. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index rose 31.91 points, or 1.21 percent, to 2,674.27. Trade volume was moderate at 383 million shares worth 12.2 trillion won ($9.22 billion), with losers slightly outpacing gainers 442 to 436. Foreigners were net buyers, scooping

South Korea's industrial output rose for the third consecutive month in January despite the marked fall in semiconductor production, data showed Monday. Retail sales also gathered ground for the second month, while facility investment and construction orders tumbled amid weak domestic demand, according to the data compiled by Statistics Korea. Industrial output gained 0.4 percent on-month in January, following a 0.3 percent increase in November last year and 0.4 percent growth in December.

South Korean stocks started higher Monday following a three-day break including the weekend on the back of robust gains from tech and automobile shares. The benchmark Korea Composite Stock Price Index added 30.66 points, or 1.16 percent, to 2,673.02 in the first 15 minutes of trading. Tech shares led the overall gains, with Samsung Electronics rising 1.36 percent and No. 2 chipmaker SK hynix climbing 4.03 percent. Leading carmaker Hyundai Motors added 1.2 percent, and its smaller rival Kia Motor

Korea Electric Power Corp. and Korea Gas Corp., two major state-run companies, have reported combined liabilities of nearly 250 trillion won ($187.1 billion) as of end-2023 due to hikes in global energy prices, data showed Sunday. KEPCO has said in a regulatory filing its total debt reached 202.4 trillion won last year, up 9.6 trillion won from a year earlier. Korea Gas' total debt came to 47.4 trillion won, down from 52 trillion won in 2022, according to the company's regulatory filin

As global investors scrutinize South Korea’s plan to boost corporate valuations, they note a key hurdle — the prevalence of family-controlled businesses, or chaebols, which are often blamed for keeping stocks undervalued. From Samsung Electronics to Hyundai Motor, Korean conglomerates are run by members of the founding families who can wield outsized power through complex cross-shareholdings. The controversial structure and a tendency to sideline minority shareholders are among reaso

The National Assembly passed the revision bill to raise the Export-Import Bank of Korea's capital limit from the current 15 trillion won to 25 trillion won ($12.24 billion to $15 billion) on Thursday, giving the policy lender some extra room to level up its financing for the arms export deal to Poland. The revision of the Export-Import Bank of Korea Act was passed as a total of 209 lawmakers voted in favor of the bill, while 29 voted against it. There were 34 abstentions. Under the revision

South Korean stocks closed lower Thursday as investors sat on the sidelines ahead of the release of some key US inflation data and the holiday this week. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index shed 9.93 points, or 0.37 percent, to 2,642.36. Trade volume was moderate at 484 million shares worth 12.5 trillion won (US$9.44 billion), with losers outpacing gainers 545 to 341. Institutions were net sellers by offloading 507.3 billion won, while