National effort seeks to offset impact of extreme weather on apples and pears to ensure bountiful Chuseok gifts and tables

South Korean stocks closed lower for the second consecutive day Friday amid concerns the US Federal Reserve may keep its benchmark lending rate higher for longer. The local currency climbed against the US dollar. The benchmark Korea Composite Stock Price Index had declined 6.84 points, or 0.27 percent, to finish at 2,508.13. Trading volume was moderate at 425.5 million shares worth 6.9 trillion won ($5.2 billion), with decliners outpacing winners 595 to 285. Individuals purchased a total of 206.

South Korean stocks started lower Friday, tracking an overnight tumble on Wall Street, amid concerns the US Federal Reserve will keep its restrictive monetary policy in place for longer than expected. The benchmark Korea Composite Stock Price Index lost 21.67 points, or 0.86 percent, to 2,493.30 in the first 15 minutes of trading. All three US stock indexes fell on Thursday as investors' risk appetite dwindled after the Fed hinted it may go for another rate hike later this year after a rate

US FOMC leaves its benchmark rate unchanged, South Korea-US rate gap maintained

South Korea's exports moved up 9.8 percent on-year in the first 20 days of September due to a higher number of working days, but shipments of chips and petroleum products remained sluggish, data showed Thursday. The country's outbound shipments reached $36 billion in the Sept. 1-20 period, compared with $32.7 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports fell 1.5 percent on-year to $36.4 billion during the period, resulting in a trade def

South Korean stocks started lower Thursday after the US Federal Reserve kept its benchmark lending rate unchanged while noting it may push for an additional rate hike later this year. The benchmark Korea Composite Stock Price Index lost 12.91 points, or 0.5 percent, to 2,546.83 in the first 15 minutes of trading. Overnight, US stocks closed lower, with the S&P 500 dropping almost 1 percent and the Nasdaq Composite plunging 1.53 percent amid a slide in tech giants, including Apple Inc. and Te

Finance Minister Choo Kyung-ho said Thursday the government will closely monitor rising global economic uncertainties, after the US central bank decided to hold its key rates overnight. The US Federal Reserve on Wednesday announced the decision to hold the rate steady between 5.25 percent and 5.50 percent. It raised the rate by a quarter percentage point to the current level in July. "As shown in the recent FOMC meeting, the possibility over the protracted high interest rates have moved up

Overseas account holdings nearly triple on-year as massive virtual assets reflected

South Korean stocks closed nearly flat Wednesday as investors took a wait-and-see approach ahead of the US rate decision slated for this week. The local currency declined against the US dollar. The benchmark Korea Composite Stock Price Index added 0.53 point, or 0.02 percent, to finish at 2,559.74. Trading volume was slightly thin at 407.3 million shares worth 7.4 trillion won ($5.6 billion), with decliners outpacing winners 517 to 353. Individuals and institutions purchased 88.9 billion won and

South Korean stocks started almost flat Wednesday as investors remained cautious awaiting the US Federal Reserve's rate decision. The benchmark Korea Composite Stock Price Index lost 1.61 points, or 0.06 percent, to 2,557.60 in the first 15 minutes of trading. All three US stock indexes closed lower Tuesday on the eve of the Federal Reserve's interest rate announcement, which is expected to keep rates on hold. But the market expects the US central bank may deliver one more rate hike th

South Korea's producer prices expanded 0.9 percent on-month in August on the back of higher global oil prices, the central bank said Wednesday. The producer price index, a major barometer of consumer inflation, came to 121.16 last month, up from 120.08 tallied in July, according to the data from the Bank of Korea. From a year earlier, it rose 1 percent. It marked the sharpest on-month growth since a 1.6 percent rise tallied in April 2022. Producer prices are one of the key indicators that d

South Korean stocks closed lower for the second consecutive day Tuesday, hit by sharp losses in semiconductor and major tech shares ahead of a US rate-setting meeting. The local currency slid against the US dollar. The benchmark Korea Composite Stock Price Index lost 15.51 points, or 0.6 percent, to finish at 2,559.21. Trading volume was moderate at 455.9 million shares worth 7.6 trillion won ($5.7 billion), with decliners outpacing winners 577 to 302. Offshore and retail investors purchased 2.6

South Korean stocks started weaker Tuesday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index added 2.56 points, or 0.1 percent, to 2,577.28 in the first 15 minutes of trading. Overnight, US stocks also closed little changed. The Dow Jones Industrial Average grew 0.02 percent, the tech-heavy Nasdaq Composite inched up 0.01 percent, and the S&P 500 rose 0.07 percent. The Federal Reserve will hold the Federa

South Korean stocks tumbled more than 1 percent Monday led by sharp losses in semiconductor and tech shares ahead of a US rate-setting meeting. The local currency gained ground against the dollar. The benchmark Korea Composite Stock Price Index lost 26.56 points, or 1.02 percent, to finish at 2,574.72, erasing the previous session's 1.1 percent jump. Trading volume was moderate at 408.4 million shares worth 8.6 trillion won ($6.5 billion), with decliners outpacing winners 548 to 330. Offsho

South Korea's finance ministry said Monday it has revised down its annual tax revenue estimate to 341.4 trillion won ($256.7 billion), mainly due to weak corporate earnings and a slump in the property market. The latest revision is down 59.1 trillion won from its previous outlook of 400.5 trillion won, according to the Ministry of Economy and Finance. To tackle the decline in tax revenue, the government also unveiled plans to utilize surplus resources, including those from the foreign excha