South Korean stocks opened lower Monday as investors opted to cash in recent gains amid hopes for the Federal Reserve's rate cuts next year. The benchmark Korea Composite Stock Price Index fell 0.60 point, or 0.02 percent, to 2,562.96 in the first 15 minutes of trading. Last week, the Fed kept its rates unchanged and hinted at possible cuts for 2024. Leading tech giant Samsung Electronics fell 0.41 percent, and No. 2 chipmaker SK hynix also lost 0.50 percent. Top carmaker Hyundai Motor also

International Monetary Fund Managing Director Kristalina Georgieva said it is too early for central banks to go easy on inflation control despite signs of recovery. “We have seen through history that at this very last moment of controlling inflation, some countries prematurely declare victory,” the IMF chief said during a press conference held in Seoul Friday. Georgieva’s remarks come on the heels of the US Federal Reserve’s monetary policy meeting Wednesday, during which

South Korean stocks closed higher Friday amid expectations the U.S. Federal Reserve will start its rate-cutting cycle in 2024. The local currency inched down against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 19.38 points, or 0.76 percent, to close at 2,563.56. Trade volume was moderate at 458.2 million shares worth 12.7 trillion won ($9.8 billion), with winners outpacing losers 498 to 378. Foreigners bought a net 849.5 billion won, while individuals dumped a net 1.1

Empowering women in economic activities is needed to help South Korea increase its national income and birth rate while making workplaces more equitable for women will result in higher growth and financial stability for businesses, the International Monetary Fund chief said during a forum held in Seoul on Thursday. “Korea has recently made significant progress in increasing women’s economic participation, but it still has among the highest gender gaps for rich countries,” IMF

South Korea's exports of foodstuffs and related industrial products gained 2.1 percent on-year through November, data showed Friday, on the back of stronger demand for kimchi and instant noodles. Exports in the food segment have reached $10.9 billion as of November, according to the Ministry of Agriculture, Food and Rural Affairs. Over the period, exports of kimchi, a traditional Korean side dish typically made from fermented cabbage, climbed 9.9 percent to $142.4 million. Exports of instan

South Korean stocks opened higher Friday, tracking overnight gains from Wall Street, as investors remained buoyed by the Federal Reserve's possible rate cuts next year. The benchmark Korea Composite Stock Price Index rose 20.26 points, or 0.8 percent, to 2,564.44 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent higher, and the tech-heavy Nasdaq Composite added 0.19 percent. In Seoul, leading tech giant Samsung Electronics rose 0.96 percent,

Kristalina Georgieva visits Seoul for first time to attend conference on digital money

South Korean stocks rose sharply Thursday as investors scooped up major tech shares while cheering the US Federal Reserve's hint over rate cuts in 2024. The benchmark Korea Composite Stock Price Index shot up 33.52 points, or 1.34 percent, to close at 2,544.18. Trade volume was high at 522.5 million shares worth 12.78 trillion won ($9.8 billion), with winners outpacing losers 463 to 418. Foreigners bought a net 624.2 billion won, while individuals dumped a net 1.33 trillion won. Institution

State-run agency data showed Thursday that the average price for gimbap and kimchi-jjigae, two of the most popular eating-out options in South Korea, rose in November to 3,292 won ($2.50) and 7,923 won, respectively. The price for a roll of gimbap has been moving upward since breaking the 3,000-won mark for the first time in August of 2022, according to the Korea Consumer Agency, an affiliate of the Korea Fair Trade Commission. Price for a bowl of kimchi-jjigae -- conventionally served with a bo

South Korean stocks opened sharply higher Thursday as investors cheered the US Federal Reserve's hint at possible rate cuts next year. The benchmark Korea Composite Stock Price Index rose 36.26 points, or 1.44 percent, to 2,546.92 in the first 15 minutes of trading. Overnight, the Federal Reserve announced its decision to keep its rate between 5.25 and 5.50 percent, and hinted that its hiking campaign may be near or at an end. In Seoul, top tech giant Samsung Electronics gained 1.65 percent

Finance Minister Choo Kyung-ho said Thursday that the government will continue to make efforts to stabilize financial markets, citing high interest rates, anxiety in property financing and global economic uncertainties. Choo made the remarks at a meeting with heads of financial authorities, after the US Federal Reserve held its benchmark lending rate steady for a third consecutive time and signaled at least three rate cuts next year. "Recently, the local financial market, including the stoc

The US Federal Reserve held its benchmark lending rate steady for a third consecutive time during a monetary policy meeting on Wednesday, saying inflation has eased over the past year though it still remains elevated. After the two-day Federal Open Market Committee meeting, the central bank announced the decision to keep the rate between 5.25 and 5.50 percent, and hinted that its hiking campaign -- launched in March 2022 -- may be near or at an end. FOMC members' latest median economic proj

South Korea is lowering the bar considerably for foreign investors to enter the local capital market with several new measures -- including the abolishment of a cumbersome registration policy -- set to come into effect Thursday. The new measures are being implemented in around a year since local financial regulators announced them in January, as part of their efforts to attract more overseas investment and meet global standards. Among the reforms is the abolition of a 30-year-old registration po

South Korean stocks closed lower Wednesday as investors sat on the sidelines ahead of the release of the US Federal Reserve's meeting results, analysts said. The benchmark Korea Composite Stock Price Index fell 24.61 points, or 0.97 percent, to close at 2,510.66 ending its three-day advance. Trade volume was low at 367 million shares worth 7.32 trillion won ($5.45 billion), with losers outpacing winners 596 to 270. Foreigners sold a net 130 billion won, while institutions bought a net 94.3

South Korean stocks opened lower Wednesday as investors digested the latest US inflation data that met market expectations while waiting for this week's Federal Reserve meeting. The benchmark Korea Composite Stock Price Index fell 7.67 points, or 0.3 percent, to 2,527.6 in the first 15 minutes of trading. The United States announced its on-year inflation came to 3.1 percent in November, falling in line with the market estimate. Investors, meanwhile, also waited for hints over the future dir