South Korea's national tax revenue continued to grow in the first seven months of 2017 amid a steady growth pace of Asia's fourth-largest economy, the finance ministry said Tuesday.The government collected 168.7 trillion won ($149.2 billion) in taxes in the January-July period, up a solid 13.4 trillion won from a year earlier, according to the Ministry of Strategy and Finance.The amount collected is equal to 67.2 percent of this year's tax revenue target of 251.1 trillion won, including some 11

Offshore investors turned to net sellers of South Korean stocks in August, official data showed Tuesday, marking the first monthly outflows in eight months amid worries about North Korea's nuclear and missile provocations. Foreign investors sold a net 2.4 trillion won ($2.12 billion) worth of local stocks last month, according to the data by the Financial Supervisory Service.Investors from the US, Singapore and Britain were among net sellers of local stocks last month, the data showed. 

A vote by the United Nations Security Council to implement further sanctions on North Korea would have limited impact on South Korea’s stock market, analysts here said Monday, amid signs of geopolitical risks abating on the market.The stock market in Korea bounced back from Friday losses. The first-tier Kospi closed at 2,359.08, up 0.66 percent, while the secondary Kosdaq rose 0.34 percent.Shares of tech giants and financial sectors saw an upturn. Handset maker Samsung Electronics jumped 1

Despite ongoing disparities in Korea’s export market concerning China’s business blackballing tactics and continued ambiguity regarding the Korea-US Free Trade Agreement, the BSI for the export industry reached 84 points last month, according to the Bank of Korea’s Business Survey Index on Monday. 　The index shows that the export industry outperformed domestic companies by nine points.　The BSI is an economic indicator compiled to grasp business conditions for the current month

Christine Lagarde, managing director of the International Monetary Fund, on Monday expressed optimism on South Korea’s economy for the upcoming years, despite external challenges including the North Korean military provocations.While assenting to President Moon Jae-in’s economic drive for inclusive growth, the IMF chief also raised some concerns that the nation’s structural reform should take guard against overpacing.“(The IMF) has a good and strong impression on the Kore

South Korean stocks closed higher Monday as institutional buyers scooped up large-cap tech shares, recouping last week's losses sparked by concerns over North Korea's nuclear provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 15.36 points, or 0.66 percent, to close at 2,359.08. Trade volume was low at 238 million shares worth 4.8 trillion won ($4.3 billion), with losers outnumbering gainers 416 to 396.Institutions purchased a net 345.

China has shown no hesitation in disregarding its obligations under the free trade agreement with South Korea to take retaliatory measures against the deployment of a US missile defense system here.This behavior is reinforcing the perception that Beijing cannot be expected to abide by international norms, such as the separation of politics from economic affairs, when it feels the need to advance or defend its interests.China is threatening to intensify retaliation against South Korea after addit

South Korean banks failed to make it into the global top tier in capital volume last year, data showed Monday.According to an estimate by Korea Ratings, none of the country’s banking groups were among the top 60 in terms of core capital as of the end of 2016.Five banking groups -- KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Bank and the state-run Korea Development Bank -- were part of the top 100, but none made it on the top 50 list.The estimate was based on a

President Moon Jae-in said Monday he aims to realize "income-led" economic growth that spreads its benefits across all sectors.Moon made the remark as he outlined his economic policy during a meeting with International Monetary Fund Managing Director Christine Lagarde, saying the policy is in line with the IMF's call for a balance between domestic demand and exports, according to spokesman Park Soo-hyun."President Moon Jae-in explained that the South Korean government has made a h

South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development in 2013, a report showed Monday.The country allocated 1.13 percent of its gross domestic product to family benefits spending, and therefore ranks 32nd among 35 OECD member states surveyed, according to the OECD report.The family benefits cited by the report consist of public money allocated to enhance family units, including financial support that is exclusiv

International Monetary Fund chief Christine Lagarde expressed optimism Monday about the future of the South Korean economy as she forecast Asia's fourth-largest economy to grow 3 percent this year.The assessment is in line with South Korea's growth outlook for 2017. In July, South Korea raised its target growth to 3 percent from 2.6 percent, citing export-led growth.She said the South Korean economy could also expand 3 percent growth in 2018."I believe the Korean economy is extremely resili

South Korean stocks traded higher late Monday morning, recouping last week's losses sparked by concerns over North Korea's nuclear provocations.The benchmark Korea Composite Stock Price Index gained 20.21 points, or 0.86 percent, to 2,363.93 as of 11:20 a.m.Tech shares continued to trade higher, with top cap Samsung Electronics advancing 2.12 percent. Chipmaker SK hynix climbed 1.1 percent, and flat panel maker LG Display moved up 1.42 percent.Auto shares were in negative train, with leading car

The new chief of the Financial Supervisory Service said Monday he will set up an advisory body to enhance protection for consumers of financial products.Choe Heung-sik, former president of Hana Financial Group, was appointed governor of the FSS last week, replacing Zhin Woong-seob.In his inauguration speech, Choe said about half the members of the advisory body will come from civic organizations, universities and media organizations. Choe said he will encourage the FSS to pursue "consu

The World Health Organization has recommended South Korea to adopt more stringent regulations to ban cigarette smoking in public places and restrict tobacco advertising and promotions.The WTO has been issuing the outcome of the MPOWER project assessing the implementation of monitoring, protecting, offering help, warning, enforcing bans and raising taxes every other year to support an anti-tobacco campaign around the world.South Korea was not properly implementing policies on protecting, enforcin

South Korea's exports fell 8.7 percent in the first 10 days of this month from a year earlier due to decreased business days, the latest customs data showed Monday.Total outbound shipments reached $12.3 billion from Sept. 1-10, down from $13.5 billion tallied over the same period last year, according to numbers compiled by the Korea Customs Service.The drop came as there were seven business days during the 10-day period, compared with the previous year's eight. Exports of semiconductors con