Financial authorities on Monday vowed full-fledged support for companies that pursue social values, under a long-term vision that co-prosperity is vital for the nation‘s economic sustainability.“In order for the social finance model to settle as an independent and sustainable economic system, it is crucial to build a related hardware,” said Choi Jong-ku, chairman of the Financial Services Commission, in a meeting with the FSC-affiliated Financial Development Council members. Ca

With South Korea‘s exports rallying, its global market share is to touch a record high at 3.33 percent this year, a report by the Institute for International Trade, Korea International Trade Association, showed Monday.This is beyond 3.19 percent, the most recent record high, marked in 2015.The buoyant export trend is also expected to significantly help the local economy, with the contribution rate of exports reaching 78.5 percent as of the first nine months this year, the highest mark in f

South Korea's financial regulator on Monday granted licenses to five brokerages so they can engage in investment banking businesses and help local firms become global players in this critical business sector going forward. The five securities firms are Mirae Asset Daewoo Securities, NH Investment & Securities, Korea Investment & Securities, KB Securities and Samsung Securities, the Financial Services Commission said in a statement.  However, only Korea Investment & Securities wa

South Korean stocks finished lower on Monday as investors locked in profits from recent gains and fretted over the delay in corporate tax cuts in the United States.The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 12.6 points, or 0.5 percent, to close at 2,530.35. Trade volume was relatively small at 263.65 million shares worth 6 trillion won ($5.35 billion), with losers outnumbering gainers 424 to 375.Market heavyweights retreated after US Republican

South Korea's economy is expected to grow in the mid-2 percent range in 2018, slowing down from the 3 percent estimated for this year due to market uncertainties, economists said Monday.In a seminar arranged by the Korea Economic Research Institute, economists from KERI and the LG Economic Research Institute forecast that South Korea's economic growth will dip slightly in the new year. The slower pace of growth is due mainly to external uncertainties such as possible US rate increases and the pl

South Korea has raised issues with China's strict cyber security regulations at a recent meeting of the World Trade Organization, citing concerns of potential trade secret infringement, a trade agency said Monday. The Korean Agency for Technology and Standards said it has discussed 33 technical issues with representatives of 16 nations in the WTO's technical barriers to trade committee meeting held from Nov. 7-9 in Geneva. The state agency under the Ministry of Trade, Industry and Energy said it

South Koreans give themselves low scores on overseas travel etiquette and are most ashamed of being noisy in public places, a survey said Monday.A poll conducted by Hankook Research on behalf of the Korea National Tourism Organization said South Koreans rated themselves 2.75 out of five on their trip manners, with 37.4 percent saying they lack appropriate etiquette. The survey covered 1,000 people aged 18 or over who had gone overseas between January and September this year. Only 17.6 percent an

South Korean stocks opened higher Monday, led by gains in the tech and auto sectors. The benchmark Korea Composite Stock Price Index added 4.09 points, or 0.16 percent, to 2,547.04 in the first 15 minutes of trading.Market kingpin Samsung Electronics inched up 0.14 percent, and SK hynix, a major chipmaker, climbed 0.73 percent. Hyundai Motor, the No. 1 automaker, advanced 3.24 percent, and its parts maker Hyundai Mobis went up 2.61 percent. Cosmetics firms also rose. AmorePacific, the leading co

South Korean brokerage houses are revising up the target share price for market kingpin Samsung Electronics Co. as the company continues to make friendly gestures towards shareholders, market watchers said Saturday.Shares of Samsung Electronics closed at 2,820,000 won ($2,523) on Friday, up 0.11 percent from the previous session.The price marks a 56.2 percent surge from 1,805,000 won posted in the first trading session of 2017.According to the data compiled by Yonhap Infomax, the financial arm o

South Korea's jobless rate is expected to have reached 3.7 percent in October, compared to 3.4 percent a month earlier, according to a forecast by credit appraiser Moody's Investors Services on Saturday. However, the unemployment rate is down from 4 percent tallied in April, Moody's said in a report.  September's unemployment rate declined 0.2 percentage point from the same month last year. Falling unemployment may help lift consumer confidence with the economy showing signs of modest recov

South Korean President Moon Jae-in urged efforts to promote free trade in the Asia-Pacific region Friday, voicing support for the early conclusion of a regional trade deal known as the Regional Comprehensive Economic Partnership.He made the call during a meeting with a group of economic advisers to the Asia-Pacific Economic Cooperation."Over the past 30 years, APEC realized outstanding development. It has become the focal point of economic cooperation in the Asia-Pacific region while the re

South Korean stocks finished lower on Friday as foreign investors went on a heavy selling spree amid uncertainties over a possible delay of US tax reform. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 7.62 points, or 0.3 percent, to close at 2,542.95. Trade volume was moderate at 288 million shares worth 5.4 trillion won ($4.8 billion), with gainers outnumbering losers 409 to 385.The main bourse opened lower, taking a cue from overnight losses

A group of protesting local farmers took over Seoul’s public hearing on the Korea-US Free Trade Agreement on Friday morning, demanding the Seoul government terminate the agreement.　Ahead of trade revision talks on the Korea-US FTA, the Ministry of Trade, Industry and Energy was to hold the public hearing at Coex in Seoul, in accordance with the FTA amendment negotiation procedures to collect public opinion on the trade deal.　The hearing was intended to include a short government presentati

The South Korean economy will likely maintain its current recovery pace going forward on the back of strong overseas sales and rebounding private consumption, a government report said Friday."The South Korean economy has been maintaining an upturned pace on the back of brisk exports and recovering global demand, while private consumption made a turnaround from a long slump," the finance ministry said in its monthly economy assessment report. "Thanks to a rally in exports and incre

South Korean stocks opened lower Friday, taking a cue from overnight losses on Wall Street amid a possible delay of US tax reforms.The benchmark Korea Composite Stock Price Index fell 12.04 points, or 0.47 percent, to 2,538.53 in the first 15 minutes of trading. Market kingpin Samsung Electronics lost 0.78 percent, and SK hynix, a major chipmaker, was down 0.36 percent.Hyundai Motor, the No. 1 automaker, retreated 0.96 percent, and AmorePacific, the leading cosmetics firm, edged down 0.46 percen