South Korea's import prices spiked by the most in 17 months last month due to the higher price of crude oil, central bank data showed Wednesday. The import price index rose 4.4 percent in August from a month earlier, following a 0.2 percent fall the previous month, according to the preliminary data from the Bank of Korea. The rise marks the sharpest since March last year, when the comparable figure was 7.6 percent. From a year earlier, the prices fell 9 percent. Import prices are a major fa

South Korea's job additions rebounded in August after slowing for four consecutive months, but the growth was led mostly by seniors, data showed Wednesday. The number of employed people came to 28.67 million in August, up 268,000 from a year earlier, according to the data compiled by Statistics Korea. The country's jobless rate came to 2 percent last month, down 0.1 percentage point over the period. In July, the country added 211,000 jobs on-year, the lowest in 29 months. South Korea&#

South Korean stocks opened slightly higher Wednesday, as investors await US inflation data for August that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 4.94 points, or 0.19 percent, to 2,541.52 in the first 15 minutes of trading. The United States is set to release the consumer price index for August later in the day, with the reading on producer prices to be released Thursday. The upcomi

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South Korean stocks closed 0.79 percent lower Tuesday, as investors kept a cautious mode ahead of the release of US inflation data that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index retreated 20.30 points to finish at 2,536.58. Trading volume was light at 354.5 million shares worth 8.78 trillion won ($6.61 billion), with decliners outstripping gain

South Korea's finance ministry said Tuesday it has signed an agreement with the Inter-American Development Bank to double the ceiling on its loan program in a bid to support infrastructure development in Latin America. Asia's No. 4 economy plans to raise the ceiling of the cooperative loan program from $500 million to $1 billion starting next year under the letter of intent signed between South Korea's Economic Development Cooperation Fund and the IDB. The signing ceremony took pl

South Korean stocks opened slightly higher Tuesday, as investors await US inflation data for August due out later this week that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 2.03 points, or 0.08 percent, to 2,558.91 in the first 15 minutes of trading. The United States is set to release the consumer price index for August on Wednesday, with the reading on producer prices to be released th

South Korean stocks finished slightly higher Monday ahead of key economic data to be released later this week, ending a four-day losing streak. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index advanced 9.2 points, or 0.36 percent, to finish at 2,556.88. Trading volume was moderate at 406.6 million shares worth 8.21 trillion won ($6.17 billion), with gainers outpacing decliners 507 to 355. Foreigners and institutions bought a combined net 56.

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South Korea's exports fell 7.9 percent on-year in the first 10 days of September due to weak shipments of chips and petroleum products, data showed Monday. The country's outbound shipments reached $14.9 billion in the Sept. 1-10 period, compared with $16.1 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports fell 11.3 percent on-year to $16.5 billion during the period, resulting in a trade deficit of $1.64 billion. By segment, exports of chips,

South Korean stocks started a tad lower Monday as big-cap tech and auto stocks traded in negative territory. The benchmark Korea Composite Stock Price Index lost 7.06 points, or 0.28 percent, to 2,540.62 in the first 15 minutes of trading. Market bellwether Samsung Electronics dropped 0.28 percent, and its chipmaking rival SK hynix decreased 0.44 percent. Top automaker Hyundai Motor fell 0.65 percent, and leading battery maker LG Energy Solution skidded 0.79 percent. Major online portal operator

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Seoul shares ended lower Friday following tech losses on Wall Street amid concerns over China's ban on Apple Inc.'s use by government officials and the Federal Reserve's possible rate hikes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.58 point, or 0.02 percent, to close at 2,547.68, extending its losses to the fourth session. The KOSPI has risen 0.6 percent this week. Trading volume was moderate at 386.53 million shares worth 7

South Korea's finance ministry said Friday it has reached an agreement with Uzbekistan to settle an outstanding payment of around $1 billion involving a joint gas project. The agreement was reached during Finance Minister Choo Kyung-ho's visit to the Central Asian nation, where he held a bilateral meeting with his Uzbek counterpart, according to the Ministry of Economy and Finance. South Korea and Uzbekistan launched a gas project in 2008 with a joint venture named Uz-Kor Gas Chemical,