South Korean investors have been turning their heads toward funds that invest in Vietnamese stocks, which have been boasting a strong presence among foreign funds, market data showed Thursday, as a summit between the leaders of the US and North Korea was held in the Southeast Asian country.Sixteen South Korea-based investment funds established with a balance of more than 1 billion won ($892,000) saw net inflows of 109.8 billion won over the past three months as of Tuesday, according to financial

KEB Hana Bank, one of South Korea’s major commercial banks, is at odds with local financial regulators over the reappointment of its incumbent CEO and President Ham Young-joo as chief for the third time.The Financial Supervisory Service has expressed concerns that Ham, currently indicted and under trial here for alleged involvement in a hiring scandal at the bank, may be unfit to lead. Hana, meanwhile, is said to be prioritizing Ham’s “proven managerial talents and profit miles

The South Korean central bank on Thursday held its policy rate unchanged at 1.75 percent for February amid widespread concerns over an economic slowdown.　The monetary policy board of the Bank of Korea voted to leave the base rate steady for the third straight month after raising it by a quarter percentage point in November.The BOK‘s wait-and-see stance has been widely expected as Asia’s fourth-largest economy shows some signs of a downturn in exports and employment amid protracted U.

SEJONG -- South Korea’s export performance has remained sluggish since November, the last month that it posted a positive on-year growth figure.In November, exports recorded 4.1 percent growth compared with a year earlier. But exports fell 1.3 percent in December and 5.8 percent in January, according to the Korea Customs Service.Further, the nation saw exports plunge 11.7 percent on-year for the first 20 days of February, posting $23.33 billion for a difference of $3.09 billion (3.45 trill

South Korea's industrial output edged up 0.8 percent in January from a month earlier due in part to increased production of cars and the service sector, government data showed Thursday.The data compiled by Statistics Korea showed the output of cars rose 3.5 percent in January from a month earlier as vehicle sales at home and abroad increased 4.2 percent and 9.8 percent, respectively, during the same period.Semiconductor output rose 7.5 percent in January from a year earlier, but its exports fell

It is now nine years since the South Korea-India Comprehensive Economic Partnership Agreement -- a de facto free trade agreement -- went into effect. However, while much progress has been made, there is still a long way to go for economic ties to reach their potential.It was widely anticipated that the CEPA, which came into effect in January 2010, would lead to more bilateral trade and investments. South Korea abolished tariffs on 93 percent of Indian imports and India has done the same on 75 pe

In August, South Korea’s financial auditor and the Korea Exchange set out to scrutinize Merrill Lynch’s Seoul office over mounting complaints that the US investment bank’s high-speed trading was unfairly disrupting local stock prices.　About six months later, it remains to be seen how far the Financial Supervisory Service has come in terms of monitoring high-frequency trading and collecting evidence.　The FSS and KRX had strengthened their monitoring of the investment bank after

Senior citizens with 50,000 won ($44.70) or less in monthly income will be eligible for increased basic pension from April, the welfare ministry said Wednesday.People aged 65 or older whose monthly earnings are in the lowest 20 percent range can receive 300,000 won in pension benefits per month, according to the ministry. The eligibility and the amount of the benefits are adjustments to the existing payouts of 250,000 won for those with monthly income in the lowest 70 percent, which began in Sep

Watchdog to focus on false disclosures, illegal short-selling and high-frequency trading by foreign investment firms

South Korea’s financial regulator plans to establish an open interbank payment network this year that can be accessed not only by banks but also financial technology companies, with the goal of bolstering the country’s fledgling fintech business sector. The Financial Services Commission on Monday announced plans to create an open financial payment system accessible to nonbank players, and to lower the required usage costs. The move is expected to help Korea foster more successful fin

Whether it’s a subway station or a local market, it’s easy to spot signs across Seoul promoting Zero Pay, a state-sponsored mobile payment system designed to lower credit card processing costs for small merchants and business owners here.Led by the Seoul Metropolitan Government, the Zero Pay system was introduced in beta trials in December. But a couple of months into its launch, public interest in the state-sponsored mobile pay system remains weak, while doubts persist about the mer

Talks rekindled over relocating Korea’s key policy financing institutions from Seoul

Stocks of South Korea’s solar energy-related businesses rose Monday on the latest reports that China might be mulling changes to a major solar power subsidy policy announced last year. A meeting between China’s National Energy Administration and companies involved in the solar energy industry took place last week and participants discussed whether subsidies for utility-scale projects would be renewed, reports said.  The subsidies were largely halted in June 2018, resulting in lo

The total dividend payments by listed companies in South Korea are likely to exceed 30 trillion won ($26.7 billion) this year, data showed Sunday, reaching a record high in light of mounting pressure from the country’s largest investor, the National Pension Service, to raise their dividend payouts.The total cash dividends of 612 Kospi- and Kosdaq-listed companies that have disclosed figures for 2018 as of Sunday amounted to 27.5 trillion won, according to Seoul-based financial data provide

With the US-North Korea summit scheduled to take place in Hanoi this week, North Korea-related stocks have been buoyed by the latest conciliatory mood, and a rally is forecast into the future. Shares of South Korean resort operator Ananti, an operator of a resort at Kumgangsan in the North, was among the most traded shares on the Kosdaq bourse last week, with its weekly transactions amounting to nearly 705.3 billion won ($626.9 million), according to the Korea Exchange. The firm’s shares c