South Korean stocks jumped nearly 1 percent Tuesday as concerns over the Israel-Hamas conflict eased. The local currency slightly gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 23.93 points, or 0.98 percent, to close at 2,460.17, ending a two-session losing streak. Trading volume was moderate at 500.5 million shares worth 7.6 trillion won ($5.6 billion), with winners beating losers 582 to 281. Foreign purchases led the rally, as offshore investors scoo

South Korean stocks got off to a strong start Tuesday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 19.23 points, or 0.79 percent, to 2,455.47 in the first 15 minutes of trading. U.S. stocks closed higher as investors bet on big tech, with the Dow Jones Industrial Average advancing 0.93 percent and the Nasdaq Composite rising 1.2 percent. In Seoul, tech and battery shares led the bullish opening. Top-cap Samsung Electronics added 0.74 percent and i

The Korean government will extend the current tax cut imposed on fuel until the end of the year, considering the escalated volatility in international oil prices following the renewed Israel-Hamas conflict, the Finance Ministry announced Monday. Fuel tax reductions -- namely a 25 percent cut for gasoline as well as 37 percent cuts for diesel and butane -- which were to end in October, will last two more months through the end of this year, the ministry said. Finance Minister Choo Kyung-ho assess

South Korean stocks started a tad lower Monday as investors took a cautious approach ahead of the earnings season. The benchmark Korea Composite Stock Price Index fell 6.06 points, or 0.25 percent, to 2,450.09 in the first 15 minutes of trading. Most of the major publicly traded companies report their quarterly earnings starting next week, with market heavyweights SK hynix and Samsung Electronics slated for Oct. 26 and Oct. 31, respectively. Battery shares led the decline, with industry leader L

South Korea's central bank is expected to keep its benchmark rate unchanged at 3.5 percent for the sixth consecutive time this week, with inflation continuing to ease amid lingering concerns about growth, according to experts Sunday. According to a survey of six economic experts conducted by Yonhap News Agency, all of them said the Bank of Korea will likely decide to stand pat at its rate decision meeting Thursday. A 2 percentage-point gap between the key rates of South Korea and the United

The South Korean economy is entering a "recovery phase" on the back of signs of an export rebound, while the geopolitical tension from the Middle East is emerging as a new uncertainty, the finance minister said Sunday. "We believe that chips are gradually supporting exports again," Finance Minister Choo Kyung-ho said during a meeting with reporters held on the margins of the annual International Monetary Fund and the World Bank meetings in Marrakesh, western Morocco. "Th

Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won ($1.8 billion) on the benchmark Korea Composite Stock Price Index from Sept. 18 to last Friday, according to the Korea Exchange. Previously, the longest sell-off streak in the Kospi market recorded by foreigners was 30 consecutive trading days from March 5 to April 16 in 2020. During the 15-da

South Korea and the United Arab Emirates struck a bilateral free trade agreement Saturday, which is expected to enhance bilateral trade and overall economic relations, Seoul's industry ministry said. South Korea's Trade Minister Ahn Duk-geun and the UAE's foreign trade minister, Thani bin Ahmed Al Zeyoudi, signed the joint statement on the conclusion of negotiations for the bilateral Comprehensive Economic Partnership Agreement in Seoul, according to the Ministry of Trade, Industr

MARRAKESH, Morocco -- South Korea's finance minister called Saturday for concerted international efforts to end protectionism and recover supply chains to address economic challenges stemming from Russia's protracted war in Ukraine, COVID-19 and other factors. Finance Minister Choo Kyung-ho made the call during the two-day G20 Finance Ministers and Central Bank Governors Meeting held in Marrakesh, Morocco, which ended Friday, according to the Ministry of Economy and Finance. Choo calle

MARRAKESH, Morocco -- South Korea has "no urgency" to lower its key lending rate as bringing down inflation still remains a priority, a director at the International Monetary Fund said Saturday. Krishna Srinivasan, the director of the Asia and Pacific Department at the IMF, made the remarks, noting that the Bank of Korea has "appropriately" maintained a monetary policy tightening approach as inflation remains elevated above its 2-percent target. "Given the fact that infl

South Korean stocks fell by almost 1 percent Friday, as investors moved to lock in profits from recent gains on concerns about high inflation and the Federal Reserve's tightening push. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index shed 23.67 points, or 0.95 percent, to close at 2,456.15, ending a two-day winning streak. Trading volume was a bit slim at 576.69 million shares worth 7.06 trillion won ($5.23 billion), with losers outpacin

South Korea's $6 billion payment for Iranian crude oil has been frozen by the US administration again due to rising tensions regarding Iran's suspected links to the militant group Hamas, according to reports from multiple media outlets on Friday, including The New York Times. These funds were originally intended for humanitarian assistance under strict US oversight. Now held in a Qatari bank, they are caught up in a diplomatic tangle following recent Hamas-initiated hostilities against

Authorities are planning to slim down on the procedure for insurance companies acquiring foreign subsidiaries. The Financial Services Commission, South Korea's financial regulator, announced Friday its planned revision of the Enforcement Decree of The Insurance Business Act, reducing down the procedures for insurance companies seeking to acquire foreign subsidiaries. Currently, Korean insurance companies must either obtain direct approval from the FSC or submit a preliminary report when acq

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors moved to lock in profits from recent sharp gains on quicker-than-expected US inflation and high bond yields. The benchmark Korea Composite Stock Price Index shed 14.41 points, or 0.58 percent, to 2,465.41 in the first 15 minutes of trading. Overnight, US shares finished lower after the consumer price index rose at a quicker than expected rate of 3.7 percent on-year in September, which raised speculati

Seoul shares ended higher Thursday, tracking gains on Wall Street, buoyed by Federal Reserve officials' dovish comments on interest rates and tech gains. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.74 points, or 1.21 percent, to close at 2,479.82. Trading volume was moderate at 505.19 million shares worth 8.79 trillion won ($6.5 billion), with gainers outpacing losers 676 to 201. Institutions bought a net 254.08 billion won worth of sto