South Korea and the United States discussed ways to expand bilateral cooperation in the energy and supply chain sectors this week, the industry ministry said Friday. Industry Minister Bang Moon-kyu and Jose Fernandez, US under secretary of state, hosted the clean energy business roundtable on the margins of the Asia-Pacific Economic Cooperation summit in San Francisco, according to the Ministry of Trade, Industry and Energy. "The Carbon-Free Energy Initiative of Korea and the US Clean Energ

South Korea has begun imposing temporary anti-dumping duties of 72.23 percent on white Portland cement imported from Egypt, officials said Friday. The finance ministry began levying the duties on white cement from Egypt on Wednesday to be effective for four months after the Korea Trade Commission under the industry ministry announced its preliminary anti-dumping findings against the imports and recommended the imposition in September. The anti-dumping deposit is meant to prevent potential damage

South Korean stocks opened lower Friday as investors sat on the sidelines as data cautiously raised speculation that the US economy is cooling. The benchmark Korea Composite Stock Price Index fell 17.12 points, or 0.69 percent, to 2,471.06 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.13 percent, while the Nasdaq Composite edged up 0.07 percent. Data showed that the unemployment benefit claims in the world's largest economy have reached the highest l

South Korea and other negotiating members of the United States-led Indo-Pacific Economic Framework (IPEF) have reached a consensus on two additional sectors of the agreement, energy and fair economy, Seoul's trade ministry said Thursday. The IPEF was launched by US President Joe Biden in 2022 in a move to counter China's growing influence in the region, which involves a total of 14 member nations, including South Korea, Australia, India, Japan, Singapore, Thailand and Vietnam. Among th

South Korean shares closed nearly flat Thursday amid signs of cooling US inflation. The local currency gained ground against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index added 1.51 points, or 0.06 percent, to close at 2,488.18. Trade volume was slim at 401.6 million shares worth 6.61 trillion won ($5.09 billion), with gainers outnumbering loser 546 to 311. Foreigners purchased a net 458 billion won worth of local shares while institutions offloaded a net 6

NPS’ increasing exposure to overseas assets presents opportunities for foreign firms

South Korean stocks opened almost flat Thursday following overnight gains on Wall Street buoyed by cooler-than-expected inflation data. The benchmark Korea Composite Stock Price Index gained 0.8 point, or 0.01 percent, to 2,487.47 in the first 15 minutes of trading. The local market opened an hour later, along with the government and all major institutions, including private businesses, to make room for the once-a-year national college entrance exam. US stocks closed higher overnight following r

South Korean shares closed higher Wednesday after US reports showed softer inflation data that raised hopes of an end to US rate hikes. The local currency sharply gained ground against the US dollar. The benchmark Korea Composite Stock Price Index gained 53.42 points, or 2.2 percent, to close at 2,486.67. Trading volume was moderate at 413.1 million shares worth 9.22 trillion won ($7.08 billion), with gainers outnumbering losers 752 to 140. Foreigners scooped up a net 542.3 billion won worth of

The Korean government will put up nearly 1 trillion won ($769 million) in a bid to encourage young people who are not in education, employment or training, known as NEET youth, to encourage them to return to the labor market. On the back of a strong job market, the employment rate of young Koreans aged 15 to 29 stood at 46.6 percent in October. Yet more than 414,000 people, or 4.9 percent of the age group, were found not to have actively sought jobs during the first nine months of this year, acc

Container shipping costs from South Korea to the US west coast gained 7.1 percent on-month in October, data showed Wednesday. The average shipping cost for a 40-foot container for the route came to 4.38 million won ($3,358) last month, compared with 4.09 million logged a month earlier, according to the data from the Korea Customs Service. It marked the second on-month increase following 1.8 percent growth the previous month. On an on-year basis, however, the costs dropped 58.6 percent in October

Finance Minister Choo Kyung-ho called on the National Assembly on Wednesday to reenact the now-defunct corporate restructuring act that makes it easier for insolvent companies to begin an out-of-court debt restructuring program. The Corporate Restructuring Promotion Act was legislated in 2001 with a sunset provision after South Korea was hit by the 1997-98 Asian financial crisis and had been extended five times before expiring last month. It allows an insolvent company to start a debt workout pr

South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street helped by lower-than-expected US inflation data. The benchmark Korea Composite Stock Price Index added 35.21 points, or 1.45 percent, to 2,468.46 in the first 15 minutes of trading. US stocks closed higher overnight following reports that the US consumer price index, a key inflation measure, rose at the slowest pace in October since 2021. The Dow Jones Industrial Average added 1.43 percent, while the Nasdaq Compo

South Korean stocks finished higher Tuesday on gains in technology and chemical shares, while investors awaited the US inflation data slated to be announced this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index advanced 29.49 points, or 1.3 percent, to close at 2,433.25. Trading volume was slim at 300 million shares worth 6.27 trillion won ($4.71 billion), with gainers outnumbering losers 709 to 108. Foreigners offloaded a net 93.5 billion won

South Korea's import prices climbed for a fourth consecutive month following the devaluation of the Korean won, central bank data showed Wednesday. Export prices rose as well in the period. The import price index for October stood at 140.38, rising 0.5 percent from the month before. The figure has been advancing for four straight months since July, according to preliminary data from the Bank of Korea. Yet, compared to the same month last year when international oil prices surged, the figure

South Korean stocks opened higher Tuesday on advances in tech shares amid growing concerns that the United States may face a government shutdown. The benchmark Korea Composite Stock Price Index added 25.87 points, or 1.08 percent, to 2,429.63 in the first 15 minutes of trading. Investors have been closely monitoring the possibility that the US may face a government shutdown should Congress fail to pass a spending plan by Friday. Overnight, US shares closed mixed, with the Dow Jones Industrial Av