South Korean stocks traded higher late Friday morning, setting a new record during the session.The benchmark Korea Composite Stock Price Index (Kospi) shot up 19.92 points, or 0.84 percent, to 2,383.49 as of 11:20 a.m.The figure reached 2,384.21 at one point, setting a new record in terms of during-session numbers.Tech shares continued to gain ground, with Samsung Electronics advancing 2.66 percent and No. 1 chipmaker SK hynix advancing 2.29 percent.Top portal operator Naver also shot up 5.73 pe

An upturn in global trade and exports has been helping the South Korean economy recover to some extent, but the gains are weighed down by flaccid domestic demand, including investment and private consumption, a government report said Friday."The South Korean economy has been on a upside cycle thanks to a steady rise in outbound shipments, while the domestic side is showing weak signs of recovery due to production and investment adjustment," the finance ministry said in its monthly econ

The combined net profit of 162 investment advisory firms in South Korea plunged 85 percent on year in the 2016 fiscal year, hit by a sharp decline in commission fees and new contracts, data showed Friday. Competition was intensifying among investment advisory firms while new contracts declined during the April 2016-March 2017 period, forcing them to cut commission fees, the Financial Supervisory Service said in a statement.  The investment advisory firms reported a combined net profit of 96

South Korean stocks opened higher Friday on the back of strong gains in technology firms and steelmakers.The benchmark Korea Composite Stock Price Index  advanced 8.65 points, or 0.37 percent, to 2,372.22 in the first 15 minutes of trading.Tech shares kicked off bullish, with Samsung Electronics rising 1.51 percent and SK hynix jumping 1.06 percent. LG Electronics moved up 2.07 percent.Steelmakers also opened higher, with No. 1 Posco increasing 2.04 percent and Hyundai Steel climbing 1.02 p

South Korea‘s economy is expected to grow 2.6 percent this year and 2.8 percent next year, according to the Organization for Economic Cooperation and Development on Wednesday.This year’s forecast has remained unchanged, taking into account the country‘s improving exports and consumer sentiment.Next year’s forecast has been revised down from its initial projection of 3 percent seven months ago.The OECD said that the faster world trade leading to a boost in exports and busi

South Korean stocks closed slightly higher Thursday after trading nearly flat throughout the session as investors took to the sidelines amid a series of global events, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index inched up 3.43 points, or 0.15 percent, to 2,363.57. Trade volume was moderate at 402 million shares worth 8.1 trillion won ($7.21 billion), with losers outnumbering gainers 441 to 366.Analysts said Seoul shares traded nearly f

Kospi rises nearly 3 percent since his May inauguration

South Korea has signed a multilateral treaty to participate in the international movement to prevent offshore tax erosion, the finance ministry here said Thursday.Ambassador Yoon Jong-won to the Organization for Economic Cooperation and Development inked the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting on Wednesday in Paris, according to the Ministry of Strategy and Finance.As of Wednesday, 68 countries, including 33 OECD members, h

The South Korean economy has been on a modest recovery path thanks to brisk exports and investment despite a slight downturn in industrial output, a state-run think tank said Thursday."The Korean economy maintained a moderate improvement led by exports and investment demand, although industrial output growth moderated slightly," the Korea Development Institute said in its monthly evaluation of the country's economic conditions. Triggered by an upturn in global trade, Asia's fourth-larg

South Korean stocks traded lower late Thursday morning with builders and retailers being major losers.The benchmark Korea Composite Stock Price Index fell 9.68 points, or 0.41 percent, to 2,350.46 as of 11:20 a.m.Construction shares continued to lose ground, with Hyundai Engineering & Construction falling 1.83 percent and Daewoo Engineering & Construction moving down 2.15 percent. Daelim Industrial shed 1.54 percent.Retailers also traded bearish, with top player E-Mart stepping down 2.59

South Korea needs to export more services and consumer goods than intermediary products to China to keep up with the Beijing government's drive to boost domestic consumption, a report said Thursday.Intermediary goods accounted for 78.1 percent of South Korea's total exports to China in 2014, according to the report by the Korea Center for International Finance. The report feared any failure by South Korea to shift to consumer goods and services will eventually undermine the country's outbound sh

South Korean stocks opened nearly flat Thursday as investors took a wait-and-see stance on global events, including the upcoming policy meeting of the European Central Bank.The benchmark Korea Composite Stock Price Index shed 1.18 points, or 0.05 percent, to 2,358.96 in the first 15 minutes of trading.Tech shares were among the winners, with Samsung Electronics rising 0.31 percent and LG Electronics advancing 0.94 percent. LG Display moved up 2.68 percent.Builders traded lower, with Hyundai Engi

The delinquency rate of South Korean banks' won-denominated loans edged up in April from a month earlier due to a slight rise in new non-performing loans, government data showed Thursday. The rate for bank loans more than 30 days overdue stood at 0.54 percent at the end of April, up from 0.51 percent at the end of March, according to the data by the Financial Supervisory Service. Compared with a year ago, however, the rate was down 0.1 percentage point, it said. "In April, newly delinquent

South Koreans have one of the gloomiest economic views in the world, with 84 percent saying the fourth-largest Asian economy is in bad shape, a US survey showed Wednesday.South Korea had the second-most negative views, with only 15 percent saying their economy is in good condition, the Pew Research survey found. Greece had the most downbeat views, with 98 percent responding negatively about the country's economy.The survey polled 34,788 respondents in 32 countries from Feb. 16 to April 28."

The OECD Economic Outlook has predicted Korea’s gross domestic product will grow from 2.6 percent to 2.8 percent in 2018, according to its latest report released Wednesday. The OECD Economic Outlook is the Organization for Economic Cooperation and Development’s twice-yearly analysis of major economic trends and prospects.“GDP growth declined in the latter part of 2016 in the context of political uncertainty, corporate restructuring and a drop in exports,” the report said.