South Korean stocks rose for the fourth consecutive trading session Friday as predictions of progress in the US-China trade dispute lifted investor sentiment, analysts said. The local currency firmed against the greenback.The benchmark Korea Composite Stock Price Index scored 17.22 points, or 0.82 percent, to finish at 2,124.28. Trading volume was moderate at 449.28 million shares worth 5.2 trillion won ($4.6 billion), with gainers easily beating losers 622 to 208. The index moved up in line wit

More than half of South Koreans think this year's minimum wage hike will have a negative effect on the economy, a survey showed Friday.The poll of 1,002 adults nationwide by Gallup Korea found 52 percent of people predict negative economic effects from the latest minimum wage increase. Only 24 percent said the wage hike will positively affect the Korean economy in 2019.The state-set minimum wage rose 10.9 percent to 8,350 won ($7.51) per hour this year from 7,530 won last year. Adding to the bur

South Korean companies operating in India have cited various trade barriers, including tariffs, as major hurdles of doing business there, industry sources said Friday.During the conference hosted by Seoul's Ministry of Trade, Industry and Energy in Ahmedabad, the economic hub of the Indian state of Gujarat, firms operating on the subcontinent claimed that there should be an improvement made to the Comprehensive Economic Partnership Agreement. South Korea and India implemented CEPA, a type of fre

Standard Chartered Bank Korea, the local subsidiary of the British banking group, said Thursday that it has attracted an additional investment of 100 billion won ($89 million) from the group.In a directorate meeting held Wednesday, SC Bank Korea approved the capital restructuring resolution on issuing subordinated 10-year bonds worth 600 billion won and paying out an interim dividend totaling 500 billion won, the bank said in a press release. The subordinated bonds, once issued on Jan. 28, will

Gender equality a rising priority at Korea’s finance sector notorious for thick glass ceiling

Government prepares measures for data industry to reach W30tr in size by 2023

A global asset management firm on Wednesday suggested diversified overseas investments in US and European high-yield bonds this year to reduce risk or volatility.“The point of this is to say that there can be technically driven differences in the markets that cause one market to outperform or underperform another market … again this is all corporate credit,” said David Mihalick, head of Barings’ US High Yield Investments Group, during a press conference in Yeouido, Seoul

Holdings by South Koreans of securities in foreign currencies grew rapidly last year, data from the Korea Securities Depository showed, with local securities firms expanding relevant services for local investors. The volume of the holdings jumped 43.4 percent to $32.5 billion in 2018, from the previous year’s $22.7 billion, according to the data. It represented an almost sixfold increase over five years, as the corresponding figure for 2013 was $5.2 billion.Overall, local investors’

Seoul vows to speed up efforts for Korea-Britain bilateral trade deal, bracing for post-Brexit era

South Korea’s internet-only banking sector is set to undergo a series of ownership changes and to see new market players, as a new regulatory change allowing nonfinancial institutions to own and operate online banks takes effect from Thursday.　The new law, designed to ease ownership rules for internet-only banks, enables information and communication technology companies to own up to 34 percent of an internet-only bank, up from the 4 percent (10 percent without voting rights) threshold sti

SoftBank Ventures Asia, the venture investment arm of Japan’s SoftBank Group, announced Wednesday that it has hired Lee Seung-hoon as its new chief financial officer.Lee will be responsible for the management of global funds and limited partners of SoftBank Ventures Asia. He will also oversee financial initiatives of global offices, including Beijing, Singapore and Silicon Valley, the firm said. The new Softbank Ventures Asia CFO has 15 years of experience in advising on mergers and acquis

South Korea plans to spend 537 billion won ($478 million) to help nurture the country's traditional markets, the government said Wednesday.According to the Ministry for SMEs and Startups, around half of the earmarked budget will be spent to help expand parking space and related facilities in a way to provide visitors with easy access and other amenities. Also, the budget will be spent to remodel empty spaces at traditional markets into leisure-related facilities, refurbish restrooms and enhance

The head of the financial regulator on Wednesday vowed to lend more support to financial technology firms, with the aim of turning small fintech firms into "unicorns" ith higher market capitalization. Choi Jong-ku, chairman of the Financial Services Commission, made the remarks at a meeting with executives at fintech firms.  The government "will help create unicorns that compete in the global market by continuing to ease regulations," Choi told the meeting, referring to

South Korea saw growth in the value of outstanding state and special bonds slow down in 2018 due to increased tax revenue and public agencies' asset restructuring efforts, data showed Wednesday.The outstanding amount of government bonds and debt issued by public institutions came to 969.2 trillion won ($864 billion) at the end of last year, up 1.7 percent from a year earlier, according to the data from Koscom Corp., the system manager of the South Korean bourse operator Korea Exchange. It was th

South Korea posted a higher unemployment rate than the United States in the third quarter of last year for the first time in 17 years amid a sluggish job market here, data showed Wednesday.South Korea's seasonally adjusted jobless rate came to 4 percent in the July-September period of last year, higher than 3.8 percent for America, according to the data from the Organization for Economic Cooperation and Development. South Korea's third-quarter unemployment rate was up 0.2 percentage point from t