South Korea's exports jumped more than 11 percent in the first 20 days of this month from a year earlier on brisk overseas sales of semiconductors and petroleum products, customs data showed Monday.Total outbound shipments reached $25.1 billion from Aug. 1-20, up 11.6 percent from the same period last year, according to the data compiled by the Korea Customs Service.Exports of computer chips surged 42.4 percent on-year and those of petroleum products and passenger cars soared 41.8 percent and 21

South Korean stocks opened lower Monday tracking with foreigners turning net sellers on profit taking. The won rose against the dollar. The benchmark Korea Composite Stock Price Index fell 2.40 points, or 0.10 percent, to 2,355.97 in the first 15 minutes of trading.This week, investors are expected to take a wait-and-see attitude ahead of two major events that could affect the markets.  They are the annual economic policy symposium in Jackson Hole, Wyoming, and the Ulchi-Freedom Guardi

President Moon Jae-in on Sunday reaffirmed his efforts to create new quality jobs, especially for the youth, calling it a part of efforts to fight the country's low birthrate."Creating good jobs is not only a way to give hope to young people, but also increase the number of taxpayers and consumers," the president said in a rare event attended by his ministers and top presidential aides to explain the new government's policy measures. Sunday's event also involved some 250 citizens who v

Questions persisted on whether South Korea‘s stock markets fully escaped from the geopolitical risks that had weighed on the monthslong record run until late July, despite the rebound seen last week. Over the past week, the Kospi rose 1.8 percent to close at 2,358.37 Friday, including 0.14 percent retreat on Friday. The main bourse index gained for three consecutive trading days until Thursday. The stock markets did not open on Tuesday for a national holiday.The recovery was mainly led by

Stocks related to eggs rebounded from persisting egg fiasco in Korea, while those that benefited from it failed to maintain the rally

Global rating appraiser Standard & Poor's on Friday reaffirmed its long-term sovereign rating on South Korea at AA, with its outlook also remaining stable, despite the heightened geopolitical tensions on Korean Peninsula. solider"S&P Global Ratings affirmed its 'AA' long-term sovereign credit rating" on South Korea, the agency said in its latest release. "The stable outlook on Korea reflects our expectation that geopolitical risks in the Korean peninsula will not escalate

The government will begin expanding the mandatory discount of mobile phone fees starting next month, the ICT ministry said Friday, amid fierce opposition from local mobile operators.The discount rate of monthly mobile phone rates provided by the country's leading telecoms firms -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- will be raised from the current 20 percent to 25 percent starting Sept. 15, according to the Ministry of Science and ICT.The decision to increase the discount rate -- whic

Finance Ministry, ruling party plan expansive budget for next year

South Korean stocks fell Friday, hit by a sell-off by institutional investors. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index declined 3.3 points, or 0.14 percent, to close at 2,358.37. Trade volume was moderate at 195 million shares worth 4.05 trillion won ($3.54 billion). The local stock market opened lower, tracking a loss on Wall Street overnight following a deadly attack in Spain and political uncertainties in the United States. "The decl

Finance Minister Kim Dong-yeon pledged Friday to remove barriers and regulatory blocks so that entrepreneurs can easily start their own business and lead the country's innovative growth.Visiting the Tech Incubator Program for Startup Town in southern Seoul, Kim said he intends to double the TIPS-related budget for next year and establish more than 70 "Creative Labs."Innovative growth is one of the four pillar policies of the Moon Jae-in administration that took office in mid-May. TIPS

United States Trade Representative Robert Lighthizer announced on Friday that the special session meeting of the Joint Committee under the Korea-US Free Trade Agreement will be held in Seoul on Aug. 22.　According to a USTR press release, the upcoming special session will, “consider matters affecting the operation of the KORUS Agreement, including possible amendments and modifications to resolve several problems regarding market access in Korea for US exports and, most importantly, to addre

China has emerged as South Korea's No. 1 trading partner after their diplomatic relations were normalized in 1992 with their bilateral trade volume skyrocketing over 33 times in the past 25 years, industry data showed Friday.The trade volume between the two soared to $211.4 billion in 2016 from $6.4 billion in 1992. It far exceeded $109.7 billion in trade with the United States and $7.18 billion with Japan, according to data from the Federation of Korean Industries.South Korea posted trade surpl

South Korea's growing economic dependence on China has made it increasingly vulnerable to risks, including Beijing's retaliation for Seoul's decision to deploy a US anti-missile system and an economic downturn in the Chinese economy. The dilemma over how to manage both economic and political relations with China is deepening 25 years after Seoul and Beijing established diplomatic relations. According to data by the Korea International Trade Association, South Korea's exports to China, excluding

South Korean shares traded lower late Friday morning but pared part of their earlier losses on the back of net purchases by retail investors. The benchmark Korea Composite Stock Price Index shed 8.91 points, or 0.38 percent, to 2,352.76 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics falling 0.94 percent, and global chipmaker SK hynix up 0.45 percent.Hyundai Motor rose 0.35 percent, and its smaller affiliate Kia Motors traded 0.43 percent higher. POSCO, the No. 1

South Korea's household credit growth accelerated on month in July, the financial regulator said Friday, despite tighter lending rules aimed at reining in household debt. Household debt grew by 9.5 trillion won ($8.3 billion) in July, when the tighter lending rules came into force, compared to growth of 7.6 trillion won in June, according to the Financial Services Commission. Compared to a year ago, however, household credit edged down 0.04 percent. Household loans by banks rose by 6.7 trillion