The Office of the United States Trade Representative announced Wednesday that the Trump administration remains committed to amending terms of the Korea-US Free Trade Agreement, following a joint committee session with Seoul and Washington on Tuesday where the two parties were unable to reach a consensus. 　“Ambassador Lighthizer remains focused on improving implementation of KORUS and amending or modifying the agreement to benefit American workers, farmers, ranchers and businesses,”

South Korea’s population will hit a peak in 2031, predictions by Statistics Korea showed.The number of households, meanwhile, will continue to rise until 2043 due to a rise in single-person households before starting to decline in 2043.

South Korean stocks ended higher Wednesday as foreigners increased their stock purchases that offset sell-offs by institutions. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 1.07 points, or 0.05 percent, to close at 2,366.40. Trade volume was moderate at 225.09 million shares worth 3.918 trillion won ($3.3 billion), with losers outnumbering winners 479 to 306.Foreigners and individuals bought a combined 183 billion won ($162 million) worth of stoc

The billionaire founder of Naver Corp., Lee Hae-jin, has cut his stock holdings in South Korea's dominant Internet portal operator by selling 110,000 shares, a regulatory filing showed Wednesday. Lee sold his 0.33 percent stake in a block deal worth 81.8 billion won ($72.3 million), or 743,990 won per share, on Tuesday, according to the filing.Lee's stock holding in Naver was lowered to 4.31 percent from 4.64 percent. It remains unclear why Lee sold the stock, but the transaction came as Naver i

The number of newborn babies in South Korea dropped to a six-month low in June, government data showed Wednesday.About 28,900 babies were born in the month, down 12.2 percent, or 4,000, from 32,900 tallied a year earlier, according to the data from Statistics Korea.It is the second-lowest monthly figure after just 27,200 kids were born in December last year.Childbirths have been on the decline since a 3.4 percent on-year gain in November 2015, logging a double-digit on-year drop for seven straig

South Korea's household debt hit a record high in the second quarter, central bank data showed Wednesday, despite tighter lending rules meant to curb rapidly growing household debt.The country's overall debt incurred by households came to 1,388.3 trillion won ($1.22 trillion) as of end-June, up 10.4 percent from a year earlier, according to data compiled by the Bank of Korea.Household debt rose 2.1 percent in the second quarter from the previous three month period, it said. South Korea's househo

The South Korean bourse shed some earlier gains late Wednesday morning as institutions sold off stocks. The won rose against the dollar. The benchmark Korea Composite Stock Price Index was up 2.71 points, or 0.11 percent, to 2,368.04 as of 11:20 a.m.Institutions sold a net 74 billion won ($65 million), outweighing net buying worth 72 billion won by foreigners and individuals. Analysts didn't expect any strong rally in the KOSPI index as investors await cues from the US Federal Reserve's ann

South Korea's stock funds have chalked up net inflows for the second straight month, data showed Wednesday, as the local stock market is undergoing a period of correction.After touching a record high in late July, the Korea Composite Stock Price Index has been on the skids on foreign investors' massive profit-taking before regaining some ground in recent sessions. KOSPI closed up 0.44 percent at 2,365.33 on Tuesday.According to the data by fund researcher Zeroin, domestic stock funds, excluding

The number of heavy debtors in South Korea stood at about 3.9 million people in June, a report showed Wednesday, reflecting growing potential for default risks among desperate borrowers. The number of debtors who have borrowed money from more than three financial institutions has been on a steady rise. It stood at 3.38 million in 2013, 3.47 million in 2014 and 3.65 million in 2015.According to the report from the office of National Assembly Speaker Chung Sye-kyun, the combined debt of the "

South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street. The Korean won rose against the US dollar.  The benchmark Korea Composite Stock Price Index rose 12.22 points, or 0.52 percent, to 2,367.22 in the first 15 minutes of trading.On Tuesday (US time) The Dow Jones industrial average rose 0.90 percent to 21,899.89 and the tech-heavy NASDAQ climbed 1.36 percent to 6,297.48.  Analysts expected the Seoul stock market to move in a tight range as investors find

South Korea's main stock market has seen a surge in the number of listed financial companies over the past decade, with the minor bourse posting a sharp rise in listings of chipmakers and pharmaceutical firms, data showed Wednesday.According to the data by the Korea Exchange, financial companies listed on the country's major bourse numbered 116 as of the end of July, up 59 from 10 years earlier and the largest among all industrial sectors.  The number of companies traded on the major KOSPI

South Korea's exports to Vietnam surged nearly 50 percent in the first seven months of 2017, customs data showed Wednesday, an increase that is likely to put the Southeast Asian country among the top three shipment destinations for locally made goods.According to Korea Customs Service, exports to Vietnam for the January-July period totaled $26.95 billion, up a sharp 49.8 percent from the same period a year ago and roughly three-times higher than the 16.3 percent increase for South Korean exports

Non-performing loans at South Korean banks fell 0.13 percentage point in June from three months earlier, as banks bolstered efforts to clear bad debt, official data showed Wednesday. Bad loans held by local banks reached 21.8 trillion won ($19.2 billion) at the end of June, or 1.25 percent of total lending, according to the quarterly data by the Financial Supervisory Service.  Bad loans extended to businesses reached 20 trillion won at the end of June, accounting for 91.7 percent of total n

South Korea and the United States reached no agreement on possible amendments to their free trade pact, Seoul's top negotiator said Tuesday.   The U.S. demanded that Seoul and Washington quickly begin negotiations on amending the free trade agreement (FTA), citing a spike in its goods trade deficit with South Korea after the pact went into effect, Trade Minister Kim Hyun-chong said.   Still, South Korea did not agree with the unilateral U.S. proposal, Kim said, noting any dec

Chief negotiator Kim Hyun-chong says Korea’s position made ‘very clear’