The governor of South Korea's central bank said Thursday that he has been closely watching North Korea risks as Pyongyang and Washington traded harsh rhetoric.BOK Gov. Lee Ju-yeol said he remained alert on economic and financial fallout the latest standoff over North Korea's nuclear and missile program could have on Asia's fourth-largest economy.Lee made the comments in an opening ceremony of an exhibition of old books at Seoul National University.  Escalating tensions between North Korea a

South Korea’s stock markets and currency remained weak for the second consecutive day Thursday, amid escalating political tension on the Korean Peninsula.The first-tier market’s composite index Kospi closed at 2,359.47, down 0.38 percent from Wednesday, while the tech-heavy Kosdaq dropped 0.44 percent. The Kospi extended its three-day losing streak, while the Kosdaq tumbled for two consecutive days.Foreign investors adhered to selling for two straight days. Offshore buyers sold stock

South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.92 points, or 0.38 percent, to 2,359.47.Foreigners and retail investors offloaded shares worth more than 286 billion won ($250 million) and 168 billion won, respectively, while institutions scooped up more than 429 billion won, keepin

Asiana Airlines Inc. said Thursday its losses widened in the second quarter from a year earlier due to foreign currency-related losses.Net loss reached 74.7 billion won ($65.3 million) in the April-June period, compared to a loss of 26.7 billion won a year earlier, the company said in a statement. Operating income, on the other hand, surged 49 percent on-year to reach 42.8 billion won, with sales rising 8.5 percent to 1.49 trillion won over the cited period. The operating income and sales for th

Retail sales on the southern island of Jeju fell in the second quarter for the first time ever on a Sino-Korean row over the deployment of a US missile defense shield, government data showed Thursday.According to the data by Statistics Korea, retail sales on Jeju declined 3.2 percent in the April-June period from a year earlier.It represents the first on-year decline since the statistical agency started compiling related data in the first quarter of 2010.The agency attributed the decline to a pl

South Korea's antitrust watchdog said Thursday that it has imposed a combined 796 million won ($699,000) in fines on two local electronics part suppliers for rigging bids for public railway construction projects.The two companies -- Yookyung Control Co. and Hyukshin Engineering Co. -- allegedly colluded to participate in five bids to supply electronic interlocking equipment arranged by state-run Korea Railroad Corp., according to the Fair Trade Commission. Interlocking equipment is a railway sig

South Korea's central bank said Thursday that it has decided to extend 4.6 trillion won ($4 billion) to small and medium-sized firms through commercial lenders in the latest move to boost potential growth numbers.The monetary policy board of the Bank of Korea said 3.6 trillion won will be provided to small and medium enterprises that are seeking to find new growth drivers and contribute to job creation.The decision comes as Asia's fourth-largest economy has been struggling to prop up growth and

South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States a

A total of 378 imported commercial vehicles, mostly trucks, were sold in South Korea last month, down 11.1 percent from the previous month, industry data showed Thursday.According to the data compiled by the Korea Automobile Importers and Distributors Association, Volvo topped the list with a total of 137 trucks sold, followed by 105 vehicles from MAN, 83 from Scania, 40 from Mercedes-Benz and 13 from Iveco.By type, bodybuilders accounted for 180 vehicles, followed by 131 tractors, 62 cargo truc

South Korea's auto exports continued to grow for six months in a row in July on rising demand from North America and Europe, government data showed Thursday.The total value of vehicles shipped overseas reached $3.65 billion last month, up 7.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The figure has remained in positive terrain since February when it rebounded to a 5.3-percent rise from a 4.8-percent fall in the previous month.Total

South Korean stocks opened lower Thursday as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 4.19 points, or 0.18 percent, to 2,364.20 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States

South Korea's fiscal spending is expected to rise by about 3 trillion won ($2.63 billion) annually over the next five decades due to its rapid population aging and low birthrate, a report said Thursday.Asia's fourth-largest economy is estimated to fork up an additional 2.8 trillion won per year between 2016 and 2065 due to the country's demographic change, according to the report published by the Bank of Korea.The report is based on 2009-2013 data from the Organization for Economic Cooperation a

South Korea's national tax revenue continued to rise in the first six months of the year amid a steady pace of growth in Asia's fourth-largest economy, the finance ministry said Thursday.The government collected 137.9 trillion won ($121.2 billion) in taxes in the January-June period, up 12.3 trillion won from a year earlier, according to the Ministry of Strategy and Finance.It accounts for some 54.9 percent of the tax revenue of 251.1 trillion won earmarked for 2017, including some 11 trillion w

South Korea's trade surplus in chips more than doubled in the first seven months from a year earlier, data showed Thursday, casting concern over the country's excessive dependency on the industry.According to industry data, the country's semiconductor surplus through July came to $28.8 billion, rising sharply from $12.6 billion in the same period in 2016. The latest numbers already beat the combined surplus of $25.6 billion posted for 2016.By sector, memory chips accounted for $27.1 billion won,

South Korea’s gross domestic product ranked 11th in the world in 2016, with its per capita income based on purchasing power remaining unchanged, data from the World Bank showed Wednesday.The country’s global standing remained unchanged from the previous year.GDP refers to the total value of goods and services produced within the economy. Aside from ranking 10th in 2005, Korea’s GDP had stayed below the 11th rank for 11 straight years.Korea’s gross national income per capi