South Korea's exports dropped 9.4 percent in May from a year earlier, extending their on-year fall for the sixth consecutive month, data showed Saturday, due mainly to the sluggish shipments of chips and the weak Chinese economy.  Outbound shipments came to US$45.9 billion for May, down from the $50.68 billion tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.  Imports moved down 1.9 percent last month to $43.64 billion, the minis

South Korean stocks rose for the second straight session Friday as the central bank said the economy is recovering. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index edged up 2.94 points, or 0.14 percent, to 2041.74. Trading volume was moderate at 426 million shares worth 4.8 trillion won ($4.3 billion), with gainers outnumbering decliners 485 to 348. The index opened lower, but it moved into positive terrain, apparently tracking Wall Street gains.US

South Korea's state pension will gradually increase its overseas investment to some 50 percent of its assets under management in 2024 as part of its effort to boost returns and diversify its portfolio, its management committee said Friday.Under the five-year investment plan, the National Pension Service, the fund's operator, aims to log a return rate of 5.3 percent for the 2020-2024 period.As of late 2018, some 30.1 percent of the pension fund's assets were invested in overseas assets."With

South Korea’s central bank on Friday froze the key interest rate at 1.75 percent, leaving the rate unchanged for six consecutive months, amid lingering concerns over weakening economic growth and rising global risks.The Bank of Korea’s Monetary Policy Board voted to leave the rate unchanged, with Gov. Lee Ju-yeol reiterating that now is not the time for a rate cut considering macroeconomic conditions and financial stability. “Expectations for a base rate cut seem to be eme

South Korea's central bank left its policy rate unchanged at 1.75 percent Friday amid lingering concerns over weaker economic growth. The monetary policy board of the Bank of Korea voted to leave the bellwether rate steady for the sixth straight month after raising it by a quarter percentage point in November last year. The BOK's wait-and-see stance had been widely expected as South Korea's economy shows some signs of a downturn in exports and tepid domestic demand amid protracted US-China trade

The number of births in South Korea plunged to an all-time monthly low of 27,100 in March, according to Statistics Korea, reflecting the nation’s declining marriage and fertility rates. Data showed that 27,100 babies were born in March, down 9.7 percent on-year, marking the lowest figure for March since the agency began compiling related data in 1981. This is also the first time the birthrate in March has dropped below the 30,000 level. The number of marriages also dropped to 19,600 in the

Seoul will be exempted from watch list next time if current conditions continue: US Treasury

South Korea’s decision to lower the tax rate on securities transactions by 0.05 percentage point is set to take effect on Thursday, with the financial sector divided on whether it will successfully stimulate the market.Tax levied on stocks listed on the nation’s main bourse Kospi will be cut down to 0.1 percent from the previous 0.15 percent. Stocks on the secondary tech-heavy Kosdaq will be traded at the rate of 0.25 percent instead of the previous 0.3 percent. The rate for third-ti

South Korea’s global competitiveness ranking dropped one place this year, amid an economic slowdown hit by reduced exports and capital investments, an annual report by a Switzerland-based international institute showed Wednesday.The International Institute for Management Development said in its report that Korea ranked 28th in terms of world competitiveness among the 63 countries surveyed. It was ranked 27th last year.The institute, since 1997, has been ranking economies based on four cate

In an apparent move to advocate the incumbent government’s real estate measures, the Land Ministry said Tuesday that Seoul’s housing prices had grown at a stable rate for the past five years, compared to fluctuations observed in real estate transaction prices in other major cities. Seoul saw an average 18.9 percent rate fluctuation in its housing price from 2014 to 2018, according to the data, which was released as part of a seminar co-hosted by the ministry and the state-run Ko

South Korea’s composite consumer sentiment index fell in May for the first time in six months, due to a slowing economy, volatile stock market and concerns over the escalating trade war between the US and China.　The Bank of Korea said Tuesday that the CSI -- which measures consumers’ optimism about the economy -- came to 97.9 for May, down 3.7 points from the previous month.It marks the first decline in the index since November 2018, when it fell to 95.7. It had been on a five-month

South Korean firms have issued more than 5 trillion won ($4.27 billion) worth of environmental, social and governance-related bonds so far this year, which surpasses the volume of the asset class floated for the entirety of last year. ESG-related bonds are fixed income investments -- mostly issued by government-run organizations or institutions at the moment -- that finance environmental or social projects that help boost transparency and sustainability in society. Local firms including state-ru

South Korean companies listed on the main bourse saw their average debt-to-equity ratio up by nearly 6 percentage-points in the first quarter of the year, data showed Monday, with analysts citing poor corporate performance and implementation of new accounting standards. The average D/E ratio of 640 Kospi-listed firms, that end their fiscal year in December, increased 6.37 percentage points from the end of the year to 110.7 percent by end-March, according to data provided by the Korea Exchange, t

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed.After being desensitized for many years by virtually zero interest rates, one can suddenly earn a positive yield on cash again in many major currencies. While the rates may still not be terribly exciting -- 12-month USD Libor yields are now approximately 2.75 percent per annum, for example -- these yields can be seen by some as credible compet

In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth internet-only banks.One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities.The Financial Services Commission said it accepted the recommendations of an independent evaluation committee that both consortia had put together inadequate bids. The outside evaluators said