US President Donald Trump said Friday that the US is "very close" to resolving a trade row with South Korea, hinting at an announcement next week.The president was apparently referring to the renegotiation of the Korea-US free trade agreement as well as Seoul's push to win an exemption from US tariffs on steel imports."The deal with South Korea is -- according to Secretary Ross and Bob Lighthizer -- is very close to being finished," he said during a news conference at the Whi

South Korean shares are expected to move in a tight range next week as investors remain cautious due to growing concerns over trade protectionism by major economies. The benchmark Korea Composite Stock Price Index is likely to stay between 2,460 and 2,540, as export-oriented stocks remain vulnerable to the looming trade dispute between Washington and Beijing. In response to the Trump government's plan to impose 25 percent tariffs on US$50 billion worth of Chinese imports, China said it may raise

The new chief executive of NH Investment & Securities said in a press conference Friday that he would bolster the securities firm’s investment banking division, in a move to maintain growth that began to take shape in the past few years on the back of business diversification. Jeong Young-chae, who took office as CEO of NH Investment & Securities on Thursday, revealed that the firm plans to reap 190 billion won ($175.6 million) in net profit this year solely from its IB business, a

South Korea, China and Japan held a new round of trade talks on Friday in Seoul in the latest push to work out differences for a free trade deal amid rising trade protectionism.Trade officials will discuss modalities for tariff reduction, service market liberalization and other global trade issues, the Ministry of Trade, Industry and Energy said."South Korea, China and Japan need to show a firm will to advocate free trade amid intensifying trade tension in light of the protectionist policie

South Korean steelmakers remain jittery about their exports to the United States despite Washington's move to temporarily exempt Seoul from heavy tariffs on steel imports, industry sources said Friday.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump has authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which were to go into effect Friday.The exemption, which also applies to the European U

WASHINGTON -- The United States will temporarily exempt South Korea from stiff tariffs on steel imports, a top US trade official said Thursday, following weeks of lobbying by South Korean officials.Speaking at a Senate hearing, US Trade Representative Robert Lighthizer said President Donald Trump had authorized a "pause" in the 25 percent tariff on steel and 10 percent tariff on aluminum imports, which are to go into effect Friday.Also on the list of exemptions are the European Union,

Lukewarm growth and household debts deter Seoul’s central bank from raising rate in response

The South Korean currency depreciated at a sharp clip due to the nuclear tests conducted by North Korea last year, a central bank report showed Thursday.The report published by the Bank of Korea examined the movement of the won-dollar rate for five trading sessions before and after nuke tests between 2008 and 2017.It used an analysis model assuming that news articles on North Korean provocations affect the South Korean exchange rates against the U.S. dollar. North Korea has conducted six nuclear

South Korea and China on Thursday began the first round of talks to expand the scope of the bilateral free trade agreement to better cover the service and investment sectors and increase business opportunities for both sides.The two nations implemented the FTA, which is focused on lowering tariffs on goods, in December 2015 and recently agreed to hold negotiations to upgrade the trade deal.Kim Young-sam, a deputy minister of trade and investment at the Ministry of Trade, Industry and Energy, and

South Korea's central bank chief said Thursday that the latest interest rate hike in the United States will have little impact on the South Korean market."The US Federal Reserve's decision met market expectations, and as a result, the US market remained steady," Bank of Korea Gov. Lee Ju-yeol told reporters before attending an emergency meeting with officials in Seoul. "In South Korea, I expect that the financial market will have little impact from the Fed's decision."The US

Concerns are rising that Korea, which is heavily dependent on exports for growth, will become the biggest victim of a looming global trade war prompted by US protectionist measures and retaliatory moves from other major economies.China and the EU are poised to react strongly if they are subject to hefty US tariffs on steel and aluminum imports, which are slated to come into force Friday.The trade conflict between the US and China is set to further flare up as President Donald Trump’s admin

‘Firms like Kakao or Celltrion might someday regret leaving the Kosdaq’

Change in online consumer patterns reflects shifting views on gender roles

Citibank Korea kicked off a customer event Monday to celebrate the first year since the launch of its unsecured personal loan product for salaried employees offered through its mobile app.As part of the celebration, Citibank Korea is running the event in which those who apply for the mobile loans by March 31 will be randomly selected to receive gifts such as coffee vouchers and smartphones. In addition, those who apply for the product by March 31 will be given 0.5 percentage point rate bonuses a

Concerns mount on possible compromises in bilateral FTA amendment talks