South Korea's industrial output fell in October on a marked decline in the production of the semiconductor sector, data showed Thursday. Retail sales and facility investment also declined last month, and it was the first time in three months that the three major indicators on industrial activities logged an on-month fall, according to Statistics Korea. Industrial production dropped 1.6 percent on-month in October following two months of gains. It was the sharpest decline since April 2020, w

South Korean stocks started lower Thursday, as investors are waiting for the central bank's key rate decision later in the day. The benchmark Korea Composite Stock Price Index lost 7.98 points, or 0.32 percent, to 2,511.83 in the first 15 minutes of trading. In a rate-setting meeting, the Bank of Korea is widely expected to keep the rate unchanged at 3.5 percent. Major shares went south, with market bellwether Samsung Electronics falling 0.28 percent and LG Energy Solution, the second-bigge

The Organization for Economic Cooperation and Development revised up the outlook for South Korea's economic growth next year to 2.3 percent on a recovery in exports and eased geopolitical tensions, Seoul's finance ministry said Wednesday. The figure marked a 0.2 percentage-point increase from its projection of 2.1 percent made in September, according to the Ministry of Economy and Finance. The latest outlook is rosier than those by the International Monetary Fund and the Bank of Korea,

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

South Korean stocks opened a tad lower Wednesday ahead of the central bank's rate-setting meeting. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.02 points, or 0.44 percent, to 2,510.74 in the first 15 minutes of trading. Overnight on Wall Street, US stocks climbed modestly on a dovish comment by a Federal Reserve official, with the Dow Jones Industrial Average edging up 0.24 percent and the Nasdaq Composite adding 0.29 percent. The Bank of Korea is set to decide on its pol

The Korea-Indonesia Cooperation Forum is all set to take place on Thursday in Jakarta, marking the 50th anniversary of diplomatic relations between Korea and Indonesia. The forum is a significant step toward strengthening cooperation, boosting collaboration, and exploring business opportunities between the two nations. The Korea Herald had an interview with Cho Sung-hyun, the director of the Corporate Planning and Management Division of The Daily Sports Hankook, one of the media partners for the

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio

South Korean liquor giant HiteJinro said Tuesday it is expanding its distribution network of soju products in the UK as part of efforts to strengthen its market presence in Europe. Since last week, HiteJinro has started selling its Jinro Green Grape Soju and Jinro Peach Soju at 88 Sainsbury's stores and via online shopping portals, including Sainsbury's Online and Ocado, the company said. According to HiteJinro, the company's distilled spirit exports to the UK have been increasing

South Korean stocks started a tad higher on Tuesday despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 15.98 points, or 0.64 percent, to 2,511.64 in the first 15 minutes of trading. In the United States, major stock indices closed in negative territory, with the Dow Jones Industrial Average losing 0.16 percent and the Nasdaq Composite declining 0.07 percent. In Seoul, large-cap shares led the positive start. Market bellwether Samsung Electronics rose 0.

Eco-friendly cars accounted for one-third of all new vehicle purchases made here in the first nine months of 2023, government and industry data showed. According to data from the Transportation Ministry and the Korea Automobile Manufacturers Association, the rate of car purchasers who bought eco-friendly models, including hybrid and electric units, between January and September, stood at 32.1 percent of all new vehicle customers. It marked the first time for the portion of new eco-friendly model

South Korea and the China-led Asian Infrastructure Investment Bank (AIIB) discussed ways Monday to boost bilateral cooperation on the financial sector and conduct various joint infrastructure projects, the finance ministry here said. The discussion took place during the meeting between Finance Minister Choo Kyung-ho and AIIB President Jin Liqun held in Seoul earlier in the day, according to the Ministry of Economy and Finance. Choo asked for the AIIB chief's support for South Korean com

Financial regulator hints at inspection as over W8tr in products set to mature in first half of 2024

Starting next year, South Korea's immediate tax refund limit at tax refund stores for tourists will be doubled from 2.5 million won ($1,920) to 5 million won, the Finance Ministry announced Monday, in a move to invigorate the tourism industry. Currently, tourists can buy items at tax-free prices in designated tax refund stores across the nation, with a maximum purchase limit of 500,000 won per individual transaction. The total cumulative payments can reach up to 2.5 million won. Starting Ja

South Korea will double the maximum limit of purchases eligible for an immediate tax refund by foreign tourists to 5 million won ($3,831) next year to attract overseas visitors and bolster the tourism industry, the finance ministry said Monday. Currently, the country provides on-the-spot tax refunds for an individual purchase of up to 500,000 won at designated stores, with a maximum cap being set at 2.5 million won on total payments. "Starting Jan. 1, 2024, the maximum per-payment amount fo

The weak economic momentum, along with the hope for the Federal Reserve's rate freeze next month and moderating inflation, may prod South Korea's central bank to keep its policy rate unchanged again this week. But the Bank of Korea is likely to say that it will keep its restrictive monetary policy stance amid still high inflation and soaring household debts. On Thursday, the BOK is widely predicted to leave the rate, which currently stands at 3.5 percent, unchanged, which would be the seventh st