South Korea's finance minister on Friday highlighted ongoing government efforts to address security risks and a set of structural problems such as economic polarization so as to spur growth.Finance Minister Kim Dong-yeon, who doubles as the deputy prime minister for economic affairs, made the remarks during a meeting with former high-ranking officials, which was arranged to listen to their advice on how to revitalize Asia's fourth-largest economy. "We have been striving to address structura

Semiconductors export shares accounted for more than 16 percent of Korea‘s annual exports for the year, a record high for the industry, according to industry data on Friday. 　Led by Samsung Electronics and SK hynix, the world’s leading chipmakers, the data showed that chip exports reached $70.4 billion from January to September, an increase of 55.6 percent compared to last year. The figure accounts for 16.4 percent of Korea’s total exports of roughly $430.1 billion, representin

Amid easing political tensions between Washington and Pyeongyang, South Korea’s consumer sentiment figures have rebounded in October, according to a survey by the Bank of Korea on Friday. The composite consumer sentiment index for October climbed to 109.2, marking a 1.5-point increase compared to September, the data shows. A reading above 100 means that more companies are expressing optimism over negative sentiments. During June and July, the index reached 111.1 and 111.2, respectively. Ho

South Korean stocks ended at a fresh all-time high Friday on bargain hunting. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 16.00 points, or 0.64 percent, to close at 2,496.63. Trade volume was moderate at 504.56 million shares worth 6.25 trillion won ($5.5 billion), with gainers outnumbering decliners 554 to 245.Foreigners bought 96 billion won worth of stocks, offsetting the same value of stocks sold by institutions.  Tech and steel stock

South Korea will create an 85 billion won ($75.2 million) global infrastructure development fund to address the key constraints of private investment in overseas projects, the land ministry said Friday. The Ministry of Land, Infrastructure and Transportation signed an agreement with the Korea Development Bank and the Export-Import Bank of Korea to shoulder 40 billion won, 25 billion won and 20 billion won, respectively, for the “Global Infra Venture Fund.”The state investors will rai

Air traffic in South Korea rose slightly in the third quarter on strong demand for outbound travel and increased routes to Southeast Asia, government data showed Friday. A total of 195,355 planes flew into and out of South Korea in the July-September period, up 1.2 percent from a year earlier, the Ministry of Land, Infrastructure and Transportation said. Air traffic was the busiest on Sept. 30, the first day of the long Chuseok holiday when local airports served 2,259 flights.  The number o

South Korean stocks extended gains late Friday morning as investors scooped up blue-chip stocks on bargain hunting.The benchmark Korea Composite Stock Price Index rose 11.97 points, or 0.48 percent, to 2,492.60 as of 11:15 a.m. Tech and steel stocks led gains, with market bellwether Samsung Electronics Co. rising 0.80 percent and leading steelmaker POSCO advancing 2.56 percent.  Among other gainers, Naver Corp., the country's leading online portal operator, climbed 3.93 percent and No. 1 ch

The number of potential job seekers jumped in the third quarter of this year, data showed Friday, in an indication of a tougher employment market even though the nation's economy grew at a solid pace. Potential job seekers, who are not categorized as jobless but are looking for jobs, rose by about 194,000 people on year to some 1.6 million people during the July-September period, according to the data by the Statistics Korea. It was the first time that the quarterly number of potential job seeke

Exports by South Korea's venture startups will likely hit a record $20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday.The amount reached $14.7 billion for the first nine months this year, up 14.6 percent from a year earlier, according to the statistics provided by the Korea International Trade Association.Exports by startups rose to $18 billion last year from $16.7 billi

South Korea will launch a thorough inspection of all state-funded firms to find out if any job favors were given to children of influential people in politics and business amid rising public anger over reports of illicit employment, the government said Friday.The decision was made at an emergency ministerial meeting chaired by Finance Minister Kim Dong-yeon, with heads of 12 government ministries, including officials from the education and justice ministries, present.The government will set up a

South Korea's consumer confidence rebounded in October as tensions subsided between North Korea and the United States, a central bank poll showed Friday.The composite consumer sentiment index for October stood at 109.2, up 1.5 points from the previous month, according to the survey by the Bank of Korea.In August, the index fell 1.3 points from July. A reading above 100 means optimists outnumber pessimists. Consumer sentiment was also weak in September.The BOK attributed the rebound to eased tens

South Korea's top economic policymaker said Thursday that the government will take steps to maintain current growth momentum through next year, following the latest data, which showed Asia's fourth-largest economy is expected to reach its growth target of 3 percent in 2017.Earlier in the morning, the Bank of Korea said the economy expanded a solid 1.4 percent in the July-September period from the previous quarter, marking the fastest quarterly growth in seven years.The BOK forecast country's ann

The KDB Foundation held a ceremony to mark the 10th anniversary of its operation at the Korea Development Bank headquarters in Seoul on Wednesday, the company said Thursday.The ceremony was attended by some 80 people from partner organizations including the Korea Association of Social Welfare Centers and Social Solidarity Bank, along with KDB scholarship recipients and company officials.  The foundation was created in August 2007. It has engaged in over 20 projects and injected approximatel

Out of some 700 trillion won ($622 billion) worth of stocks and bonds held by foreign investors, nearly 20 percent originates from regions deemed as tax havens, raising concerns over the heightening volatility of the local financial market.According to data released by Rep. Park Kwang-on of the Democratic Party of Korea, registered foreign investors reached 40,141 from 127 countries as of the end of August. Most investors came from the US, followed by Japan, Cayman Islands, Canada, the UK and Lu

South Korean stocks ended down Thursday as investors sold stocks on profit-taking. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index fell 11.87 points, or 0.48 percent, to close at 2,480.63. The drop came after the main index rose 0.8 percent over the past four sessions. Trade volume was moderate at 638.07 million shares worth 7.05 trillion won ($6.3 billion), with decliners outnumbering advancers 454 to 358.Foreigners and individuals sold a combined 61.7