US beef imports shot up significantly last year, beating Australian meat to regain its No. 1 status in the Korean market for the first time in 14 years, industry data showed Monday.Korea imported 177,000 tons of US beef last year, up 13.5 percent from 156,000 tons tallied in 2016, according to the figures provided by the Korea Rural Economic Institute.Beef imports from Australia decreased 3.95 percent on-year to 172,600 tons last year, falling to second place in the foreign beef market in Asia's

WASHINGTON -- US President Donald Trump has so far made no indication he will exempt certain countries from tariffs on steel imports, US Commerce Secretary Wilbur Ross said Sunday.Trump is expected to impose tariffs on steel and aluminum imports this week, a move certain to affect South Korean steel producers. On Thursday, he said he would introduce a tariff of 25 percent on steel and 10 percent on aluminum.The announcement was met with angry responses from China to Europe, which vowed to retali

Ranking officials of the finance ministry held a meeting Sunday to come up with measures on tackling the country's chronic low birthrate in order to bolster growth potential.Finance Minister Kim Dong-yeon, vice ministers and ranking officials gathered to discuss measures to deal with the impending issue after the number of newborns in South Korea dropped to a new record low last year.The number of babies born in 2017 reached 357,700, down 11.9 percent, or 48,500, from a year earlier, according t

South Korea’s bourse operator is expected to ease regulations on stock split processes in the wake of market top cap Samsung Electronics’ latest decision to implement a first-ever stock split.Korea Exchange is expected to announce a revised set of plans later this week to shorten the trading suspension period caused by stock splits, according to the benchmark Kospi operating headquarters Sunday. Under current regulations, stock trading is to be banned for 10-15 days after the gi

This is the 51st in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed.An upbeat forecast for the first quarter of this year appears to have catalyzed the bull run of Studio Dragon, the creator of South Korean megahit series such as “Misaeng,” “Guardian,” “Signal,” and most recently, “A Korean Odyssey.”Behind the forecast is the projected income from rights sales of latest hit series to global internet ente

Foreigners received an all-time high of dividend payouts from South Korea's 10 largest business groups last year, with the amount surpassing 7 trillion won ($6.46 billion) for the first time, industry data showed Sunday. Among the 15.3 trillion won of dividends paid by companies affiliated with the top 10 conglomerates last year, foreigners received 7.11 trillion won, according to the Seoul-based corporate tracker Chaebul.com. The ratio of foreign dividend payouts rose from 43.7 percent of the t

South Korean shares are expected to move up and down in a tight range as investors remain cautious on lingering uncertainty over US monetary policy, analysts here said Saturday.   The benchmark Korea Composite Stock Price Index closed at 2,402.16 on Friday, down 2.01 percent from a week ago.   Investors are likely to adopt a wait-and-see attitude over US monetary policy.    Earlier this week, Federal Reserve Chairman Jerome Powell offered an optimistic assessment of

Local investors are borrowing a large amount in loans to buy local stocks as the country's bourse has maintained a generally upward trajectory, despite a slump in the pace of growth, market data showed Saturday.   The amount of money borrowed to buy stocks, the so-called margin debt, reached 11.24 trillion won ($10.4 billion) as of Tuesday, slightly down from an all-time high of 11.42 trillion won tallied on Feb. 2, according to the data compiled by the Korea Financial Investment Assoc

President Moon Jae-in retained on Friday Lee Ju-yeol, the incumbent Bank of Korea Gov. and the head of Monetary Policy Committee, to serve another four-years for the nation‘s central bank, sending the market a sign that it will not pursue a drastic change in its monetary policy.Cheong Wa Dae said the decision to reinstate Lee as the BOK chief signifies Moon’s willingness to “ensure neutrality and independence” of the central bank.The reappointment came amid the South Kore

Bank of Korea Gov. Lee Ju-yeol, a veteran monetary policy expert with a career spanning 41 years at the central bank, is widely seen as an advocate of the bank's independence who has promoted better communication with the market.The reappointment of Lee, 66, comes at a critical time for the South Korean economy, which has been grappling with mounting household debt and weak consumption.It is the second time that a BOK governor has been reappointed, but no governor has been nominated for a second

South Korea‘s top-tier stock market Kospi retreated 1 percent on Friday, while the local currency strengthened, in part on fears over heightening tariff threats by US President Donald Trump triggering a possible trade war.On Friday, the Kospi came close to breaching 2,400 mark by closed at 2,402.16, down 1 percent compared to the previous trading day. The market maintained a losing streak for three consecutive trading days since Tuesday. Korean stock markets closed on Thursday for a nation

Korea avoided the worst case scenario of being slapped with duties of up to 53 percent on steel exports to the United States, but it will invariably take a hit if fresh duties are put in place, industry experts said Friday.US President Donald Trump said on Thursday that he would impose uniform 25 percent duties on imported steel to protect US producers, with a formal decision due next week.The announcement could not have come at a worse time for Korean steel mills already struggling with rising

WASHINGTON -- US President Donald Trump said Thursday he plans to impose a 25 percent tariff on steel imports next week, a move that could affect South Korean steelmakers.Speaking at a meeting with business executives at the White House, Trump also said he plans to impose a 10 percent tariff on imports of aluminum and keep the two measures in place indefinitely."We'll be signing it in. And you will have protection for the first time in a long while, and you're going to regrow your industrie

SEJONG -- Korea's industrial output increased in January from a month earlier on a rise in production in the automaking and chipmaking sectors, government data showed Friday.Production in the mining, manufacturing, gas and electricity industries rose 1 percent on-month in January, following an adjusted 0.5 percent on-month decline in the previous month, according to the data by Statistics Korea.From a year earlier, industrial output also spiked 4.6 percent in January, following a 4.6 percent on-

Korea's exports moved up 4 percent on-year in February, with its growth slowing mainly due to fewer working days caused by the Lunar New Year holiday, government data showed Thursday.Outbound shipments reached $44.88 billion in the one-month period, up from $43.16 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.Exports rose for the 16th consecutive month, but numbers were affected by the four-day holiday in Korea as well as people taking days off