The government said Sunday it will set up a committee comprised of experts to review President Moon Jae-in's industrial technology-related state affairs and policy goals.Earlier, the Moon administration announced that finding new growth engines through the so-called fourth industrial revolution for the South Korean economy is one of its key policy objectives. Moon said the revolution will help create more jobs, develop cutting-edge technologies and eventually serve as a catalyst for the economy.

South Korea's bourse operator is set to decide this week on whether to allow the resumption of trading of Daewoo Shipbuilding & Marine Engineering Co. on the local stock market, industry sources said Sunday.The trading of Daewoo Shipbuilding stocks have been halted since July last year, due to its impaired capital base, and the shipyard was given a one-year rehabilitation period to improve its financial status for the resumption of stock trading.According to the sources, the Korea Exchange w

Professionals in jobs that traditionally enjoyed high pay like lawyers and accountants earned an average of 230.8 million won ($203,796) per individual last year but close to 15 percent of the people in these professions made less than one-tenth of the amount, data showed Sunday.Records provided by the National Tax Service for parliamentary audits said 35,108 people were registered to be in private practice as lawyers, accountants, customs agents, certified architects, appraisers, patent attorne

The combined market capitalization of South Korean firms listed on the main and secondary bourse ranks 11th among global peers, claiming 1.77 percent of the total, on the back of a rise in market heavyweights, such as Samsung Electronics, data showed Sunday.The combined market cap of the world's stock markets reached a record high of $88.59 trillion as of Thursday, increasing 35 percent from a year ago, as optimism over a global economic recovery fueled a rally in advanced and emerging stock mar

The net value of foreign investment fund assets held by South Koreans exceeded 120.2 trillion won ($105.9 billion), a local capital market association said Sunday.According to data by the Korea Financial Investment Association, foreign investment funds assets, including private equity funds, was up a sharp 10 trillion won as of Tuesday, compared with three months earlier. The numbers also represent a surge from just 51.3 trillion won tallied in late 2012. The findings showed numbers began rising

The total value of gift certificates issued in South Korea last year accounted for more than 50 percent of the country's money printed by the central bank, a report showed Sunday.Some 11.3 trillion won ($10 billion) worth of gift vouchers, mobile coupon and revenue stamps were issued in 2016, according to a report by Rep. Shim Ki-joon of the ruling Minjoo Party. This is equivalent to 56.2 percent of 20.2 trillion won worth of money printed by the Bank of Korea in the same one-year period. The re

Shares of Samsung Electronics Co. held by the chairman's family rose 1.55 percentage points this year, mainly due to the cancellation of treasury shares, official data showed Sunday.Data by the Financial Supervisory Service and the tech giant showed that shares held by chairman Lee Kun-hee, his heir apparent Lee Jae-yong and "specially related people" accounted for 20 percent of all ordinary shares issued by the world's leading smartphone and computer chip producer.The chairman, who re

South Korea has been offering permanent residencies to foreigners who buy and keep real estate in designated areas as part of its push to foster nonmetropolitan zones, but it has so far benefited only a handful of popular destinations, lawmakers said during a parliamentary audit this week.Since 2010, under the former Lee Myung-bak administration, the government has allowed investors to buy land and build facilities for tourist accommodations in 10 authorized zones including Jeju Island.Over 99 p

South Korea's tax rate will rise to be the fifth highest among major economies if the incumbent Moon Jae-in administration follows through on its plans to collect more dues from very big companies, an opposition lawmaker said Friday.The government and the ruling Democratic Party have said they will increase the corporate tax rate for firms with annual net profits exceeding 200 billion won ($177 million) to 25 percent from 22 percent at present to help finance Moon's welfare and job creation agen

Record market rallies in South Korea, mainly spurred by large-cap stocks such as Samsung Electronics on their upbeat earnings forecast, have highlighted that investors are less drawn to small cap stocks -- relatively more exposed to potential risks -- even in their attempt to unwind from overweight tech sectors here.  The main bourse index Kospi rose 3.4 percent for the past seven trading days until Wednesday, while scaling the record earlier this week, according to data by the Korea Exchan

KIPO commissioner vows to expand role to prepare for rising technologies

South Korean stocks finished lower Thursday, as investors opted to cash in recent gains amid a bullish run, market analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 9.85 points, or 0.40 percent, to close at 2,473.06.Trade volume was moderate at 232 million shares worth 6.75 trillion won ($5.96 billion), with gainers outnumbering losers 467 to 326.The local stock market opened higher on overnight gains in Wall Street, but went south on p

South Korea‘s Korean Intellectual Property Office attended the World Intellectual Property Organization’s General Assembly meeting at its headquarters in Geneva, Switzerland this month, urging the member states to take pre-emptive measures for the anticipated changes in the intellectual property market with the advent of the “fourth industrial revolution” brought on by artificial intelligence and big data. 　The WIP is a self-funding agency of the United Nations for intell

The state-run Korea Development Bank unveiled Thursday plans to partner with Korea Venture Business Association to enhance investments in venture firms. KDB will finance venture firms recommended by the association, according to the plan. In addition, the nation’s largest state-run bank will seek ways to stimulate the emergence of local unicorns, or startups valued at over $1 billion, and ramp up investor relations programs for local startups. KDB called the partnership an acceleration of

South Korean stocks traded slightly higher Thursday morning, recouping earlier losses, on the back of foreign buying.The benchmark Korea Composite Stock Price Index rose 2.98 points, or 0.12 percent, to 2,485.89 as of 11:15 a.m. Market kingpin Samsung Electronics was 1.35 percent down, and SK hynix, a major chipmaker, dipped 0.49 percent.In contrast, Naver, the country's top Internet portal operator, advanced 0.98 percent, and Hyundai Motor, the No. 1 automaker, surged 1.33 percent.No.1 steelmak