South Korea's exports dropped 22.1 percent in the first 10 days of August mainly due to decreased shipments of semiconductors, one of the country's key items, customs data showed Monday.The country's exports stood at $11.5 billion in the Aug. 1-10 period, according to the Korea Customs Service.By product, exports of semiconductors and petroleum products fell 34.2 percent and 26.3 percent, respectively. Meanwhile, outbound shipments of wireless communications devices and home appliances jumped 41

Tension built up in Seoul’s housing market on Sunday, a day ahead of a scheduled government announcement about details of a price ceiling system for apartment complexes in key bubble-prone areas.The forthcoming actions, intended to stabilize the overheated real estate market and discourage speculation, are set to play out amid uncertain economic conditions aggravated by US-China economic tensions and South Korea-Japan strife.According to major local real estate industry trackers including

South Korea’s exports of cultural contents increased 8.4 percent in 2018 from the previous year to $9.55 billion, a government report showed.Last year’s growth came after annual average growth of 16 percent between 2014 and 2017, with exports of $5.27 billion in 2014, $5.66 billion in 2015, $6.08 billion in 2016 and $8.81 billion in 2017, according to the report on trends in the content industry released by the Ministry of Culture, Sports and Tourism and the Korea Creative Content Ag

South Korea's growth potential has dipped to the mid-2 percent range and may further decline due to the fast aging of the population that is beginning to affect its labor force, a local think tank suggested Sunday.According to the Hyundai Research Institute, the country's growth potential has steadily dwindled from 7.3 percent in the early 1990s to 5.6 percent in the late 1990s and 3.2 percent in the 2011-2015 period.The report said the growth potential of Asia's fourth-largest economy has dropp

South Korea's local currency has dropped by one of the fastest rates in the world against the US dollar but may further decline on apparently growing demand for safer assets, data showed Sunday.The Korean won closed at 1,214.90 won against the greenback Thursday, down 5 percent from 1,154.70 won a month earlier, according to the Bank of Korea (BOK).The sharp decline was largely attributed to the escalating trade tension between the world's two largest economies -- the United States and China --

South Korea's state budget may top 510 trillion won ($421 billion) next year, up some 9 percent from this year's budget, as the country seeks to boost the economy with massive fiscal spending, government officials said Sunday. For the year, the country's budget is set at some 470 trillion won, and the government wants to increase the state coffers by between over 7.3 percent and 9.5 percent.For the year, the annual budget spending increase was set at 9.7 percent.In June, government ministries an

Daily stock turnover in South Korea dropped to the lowest level of the year in July, data showed Sunday, apparently reflecting investor sentiments spooked by escalating trade disputes between the United States and China, as well as South Korea's own trade haggling with Japan.The daily trading volume of local stocks came to some 8.6 trillion won ($7.1 billion) last month, according to the Korea Exchange (KRX), the operator of the Seoul bourse. The reading marks a drop of 4 percent from the same m

Seoul stocks may face increased volatility next week, largely depending on the development of an ongoing US-China trade row, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 0.9 percent at 1,937.75 points on Friday helped by strong export data in China and expectations that the United States and China will resume their negotiations in September.This week, the main index shed 3 percent as investors remained jittery over the escalating trade feud between Was

Investors are flocking to high-risk leveraged and inverse exchange-traded funds in South Korea, resulting in an increase in the daily average trading volume.According to the stock market operator Korea Exchange, the combined daily average trading volume of leveraged and inverse ETFs from July 26 to Thursday amounted to nearly 1.3 trillion won ($1.1 billion). It is 81.3 percent higher compared to the corresponding figure of 701.7 billion won in June.  A leveraged ETF uses financial derivativ

Global credit appraiser Fitch Ratings said Friday that it has reaffirmed its rating on South Korea at "AA-" with a stable rating outlook. "South Korea's AA- rating balances robust external finances, steady macroeconomic performance, and sound fiscal management against evolving geopolitical risks related to North Korea and medium-term structural challenges from aging demographics and low productivity," the ratings agency said in a report posted on its website.South Korea's eco

South Korea's central bank again hinted at a possible rate reduction in the near future Thursday, saying the escalating trade dispute between the United States and China, as well as the country's own trade conflict with Japan, may put additional downward pressure on Asia's fourth-largest economy.The Bank of Korea "plans to maintain the easing stance of its monetary policy as upward pressure on price increases is expected to remain weak, while the growth of the local economy remains slow,&qu

Seoul stocks extended gains late Thursday morning although investors remain wary over the worsening US-China trade war and Japan's export curbs. The won gained against the US dollar.The benchmark Korea Composite Stock Price Index rose 20.57 points, or 1.1 percent, to 1,930.28 as of 11:20 a.m. The main index shed 6.3 percent in the past six sessions. Japan's trade ministry on Wednesday officially announced the exclusion of South Korea from its "whitelist" of trusted trading partners tha

Revised bill to go into effect Aug. 28

South Korean shares fell for the sixth consecutive session on Wednesday as market sentiment still remained fragile over escalating trade tensions between Washington and Beijing, despite some signs of calm after China moved to stabilize its currency. The Korean won held steady against the US dollar.The benchmark Korea Composite Stock Price Index declined 7.79 points, or 0.41 percent, to 1,909.71, marking the lowest level since Feb. 18, 2016, when the index stood at 1,908.84.It was the first time

Deputy PM, central bank chief allude to forex market intervention, monetary adjustment