The American Chamber of Commerce in Korea said Wednesday that its delegation successfully concluded the three-day trip to Washington from Oct. 24-26, as part of its annual business promotion program it calls “Doorknock.” Over the course of three days, the delegation reaffirmed bilateral ties the two countries have established over the last seven decades, convening with key government officials of the Joe Biden administration as well as members of the US Congress. It also held over 30

South Korean stocks got off to a strong start Wednesday, tracking overnight gains on Wall Street, as investors picked up tech bargains following a recent sharp fall awaiting the Federal Reserve's rate-setting decision. The benchmark Korea Composite Stock Price Index added 31.57 points, or 1.39 percent, to 2,309.56 in the first 15 minutes of trading. Overnight, US shares finished higher, with the Dow Jones Industrial Average rising 0.38 percent and the tech-heavy Nasdaq Composite going up 0.

South Korean stocks slid to the lowest point since early January on Tuesday as investors await the Federal Reserve's policy meeting this week. The local currency rose against the greenback. The benchmark Korea Composite Stock Price Index fell 32.56 points, or 1.41 percent, to close at 2,277.99, marking the lowest point since Jan. 5, when the comparable figure was 2,264.65. Trading volume was moderate at 387.6 million shares worth 8 trillion won ($5.95 billion), with losers outnumbering gain

South Korea's industrial output rose for the second consecutive month in September on the back of the turnaround in the semiconductor sector, data showed Tuesday. Retail sales, a gauge of private spending, and facility investment also logged an on-year growth last month, signaling a gradual economic recovery, according to Statistics Korea. It was the first time since May that the country reported an increase in the three major indicators on industrial activities. Industrial output advanced

South Korea stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street, analysts said. The benchmark Korea Composite Stock Price Index rose 7.09 points, or 0.31 percent, to 2,317.64 in the first 15 minutes of trading. US stocks closed higher overnight, with the Dow Jones Industrial Average advancing 1.58 percent and the Nasdaq Composite rising 1.16 percent. The rebound came after investors scooped up bargain shares ahead of the US Federal Reserve's monetary policy mee

South Korea's state pension fund registered some 10 percent yield through October on the back of good performance in its investments in local and overseas stocks, its operator said Monday. The National Pension Service (NPS) said the national pension fund logged a 10.27 percent return in the January-October period, with the value of its assets under management reaching 997.38 trillion won($739 billion) as of end-October. Last year, the pension fund logged its worst return at minus 8.28 perce

South Korean stocks closed slightly higher Monday as investors scooped up bargains ahead of the US Federal Reserve's policy meeting this week, analysts said. The local currency closed higher against the greenback. The benchmark Korea Composite Stock Price Index gained 7.74 points, or 0.34 percent, to close at 2,310.55. Trading volume was moderate at 437 million shares worth 6.82 trillion won ($5 billion), with gainers outnumbering losers 593 to 281. After opening lower, shares rebounded lat

Mirae Asset Global Investments is making its foray into China’s exchange-traded fund market, becoming the first Korean asset management firm to do so. The Global X Hang Seng Tech ETF, operated by the asset manager’s ETF arm in Hong Kong, will be set up for trading on China’s Shanghai Stock Exchange and Shenzhen Stock Exchange from Nov. 6. The ETF tracks the Hang Seng Tech index, a gauge of the 30 largest Chinese tech shares listed on the Hong Kong Stock Exchange. Through the

Retail sales in South Korea advanced 9.5 percent on-year in September amid the strong performance of online platforms coupled with the Chuseok holiday, data showed Monday. The combined sales of 25 major offline and online retailers came to 15.3 trillion won ($11.2 billion) last month, compared with 13.9 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Online platforms saw their sales advance 12 percent to 7.46 trillion won on the back of

Exports of passenger cars moved up 16 percent in the third quarter of 2023 from a year earlier following robust demand for eco-friendly models, data showed Monday. South Korean carmakers shipped $14.6 billion worth of passenger cars over the July-September period, rising from $12.6 billion tallied a year earlier, according to the Korea Customs Service. The number of cars shipped reached 610,000, also advancing 2.9 percent over the period. Exports of eco-friendly models especially shot up 35.6 pe

South Korean stocks opened lower Monday as investors sat on the sidelines as the US Federal Reserve is set to hold its monetary policy meeting later this week. The benchmark Korea Composite Stock Price Index fell 3.78 points, or 0.16 percent, to 2,299.03 in the first 15 minutes of trading. The Federal Reserve is set to hold its two-day meeting Tuesday and Wednesday, with investors focusing on whether Federal Reserve Chairman Jerome Powell will provide any hint on future monetary policy. Tech gia

The board of Asiana Airlines Inc., South Korea's second-largest air carrier, convened Monday to decide whether to sell its cargo business, as Korean Air Co. seeks to win antitrust approval from European Union regulators for its takeover of the rival. The EU antitrust regulators have raised concerns that Korean Air's acquisition of Asiana may restrict competition in the markets for passenger and cargo air transport services between the EU and South Korea. The board meeting, which has co

Korea’s benchmark stock index Kospi recovered to over 2,300 points on the back of bargain hunting on Friday, after experiencing a huge dip the day before. The Kospi closed at 2,302.81, up 3.73 points from the previous day. Despite massive sell-offs by foreign investors, retail investors and institutions backed the index, net buying 100.5 billion won ($74.1 million) and 221.9 billion won, respectively. Foreign investors sold off 378.9 billion won. The Kosdaq, Korea’s secondary bourse,

South Korean stocks opened higher Friday as higher-than-expected US economic growth and solid consumer demand boosted hopes for a pause in the Federal Reserve's rate hike march. The benchmark Korea Composite Stock Price Index added 12.04 points, or 0.52 percent, to 2,311.12 in the first 15 minutes of trading, making a rebound from the previous day's crash. Overnight, all three major US indexes closed lower due to a slide in tech blue chips that posted disappointing earnings. Data showe

Q3 growth stands at 0.6 percent on-quarter, with outlook still murky