Shares in SK hynix Inc., the world's second-largest DRAM maker, traded at an all-time high on Wednesday on expectations that the chipmaking sector is set to improve this year after bottoming out in the fourth quarter of last year.SK hynix finished at 97,400 won ($83.18) on Wednesday, up 3.62 percent from the previous session's close, bucking a 1.11 percent dip in the benchmark KOSPI. The shares touched a record high of 99,500 won at 11:15 a.m., the highest-ever quotation. Investors bet that the

South Korea's state tax income reached 276.6 trillion won ($234.8 billion) in the first 11 months of last year, 3.3 trillion won less than the previous year, the finance ministry said Wednesday.Tax revenue was tallied at 16.2 trillion won in November last year, 300 billion won less compared with a year earlier. Income tax revenue amounted to 10.9 trillion won in November last year, 1 trillion won more than a year earlier, due to a rise in wages. Dues collected by companies were unchanged at 1.5

Local banks, including Woori and Shinhan, take flak for sales of risky funds

Strategic oil reserves may be released if necessary

The Korean Intellectual Property Office on Tuesday released a statement to dispel the latest concerns that the trademark for “Pengsoo,” a YouTube celebrity penguin character, may be acquired by an irrelevant third party.“An increasing number of third parties have been submitting trademark applications (ahead of the original content creators), seeking to make profits,” the IP office said.“Following news reports related to the Pengsoo trademark issue, we felt the need

South Korea said Tuesday that foreigners are also subject to tightened mortgage rules in a move to plug any possible loopholes in its efforts to stabilize home prices.The Financial Supervisory Service said the tightened mortgage rules are being applied to both South Koreans and foreigners.Under last year's measures, mortgage loans will be banned when buying a house worth over 1.5 billion won ($1.3 million) in "speculative and overheated speculative" areas, and the loan-to-value ratio f

South Korean President Moon Jae-in on Tuesday called for the swift revision of laws to allow institutional investors to ramp up shareholder engagement in the domestic market. This, he stressed, would prevent abuses of power in the business world. In his New Year’s speech, Moon urged the government to amend the Capital Markets Act and the Commercial Act, saying the proposed changes were critical to ensure fairness in the domestic market.“Fairness is the backbone of innovation and incl

South Korea’s current account surplus came to $5.97 billion in November, marking a surplus for the seventh consecutive month, amid sluggish exports, data from the Bank of Korea showed Tuesday.The central bank’s preliminary data showed that the nation’s current account surplus in November grew $840 million. It recorded a surplus in May 2019 after posting a deficit in the previous month. The surplus in November marks the first on-year surplus growth in nine months.  The grow

South Korea's exchange traded fund market posted solid growth last year, with net assets of ETFs surpassing 50 trillion won ($42.9 billion) for the first time, the bourse operator said Tuesday.The net asset value of the country's ETFs increased 26.1 percent last year from a year earlier to amount to 51.7 trillion won, according to the Korea Exchange .Representing a basket of stocks that reflect an index, an ETF can be traded on stock exchanges, allowing more flexibility in making investments and

South Korea will spare no efforts to help conclude a mega Asia-Pacific trade deal by the end of this year by forging deeper ties with the Association of Southeast Asian Nations, as the country strives to revitalize its ailing exports, Seoul's trade ministry said Tuesday.In line with the efforts, Yeo Han-koo, deputy minister for trade negotiations, plans to visit the headquarters of ASEAN in Indonesia on Wednesday to meet the regional bloc's Secretary-General Lim Jock Hoi, according to the Minist

South Korea's current account surplus grew from a year earlier in November as its service account deficit narrowed, while its primary income account surplus expanded, central bank data showed Tuesday.The country's current account surplus came to $5.97 billion in the month, up $840 million from the same month last year, according to preliminary data from the Bank of Korea.November marks the seventh consecutive month the country's current account has been in black. The figure, however, marks a dro

The Korean stock market was impacted by the intensifying geopolitical tensions between the US and Iran, with negative repercussions expected to continue, according to analysts Monday.Seoul’s benchmark bourse Kospi opened sharply low -- down 21.49 points, or 0.99 percent, from the previous session. The weak start continued through the day and it closed at 2,155.07. The tech-heavy Kosdaq also slipped 14.62 points, or 2.18 percent, to 655.31.Most large caps in the local market were in negativ

Building trust is key in marketing for French consumers, CEO says

Commitments highlighted for responsible restructuring; critics question nature of ESG initiatives in banking sector saying it doesn’t fit purpose

South Korea's financial watchdog said Monday that it will give more time to six banks to decide whether to accept a proposal meant to resolve disputes over currency-related derivatives.The move came two days before a deadline by which the six banks are required to decide whether to accept and honor the arbitration proposal by the dispute settlement board of the Financial Supervisory Service.The watchdog has said the deadline can be extended if requested by the relevant parties. So far, none of t