Retail sales in South Korea advanced 8.2 percent on-year in January following the robust performance of online platforms, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 15.7 trillion won ($11.78 billion) last month, compared with 14.5 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Offline store sales edged down 0.3 percent last month, as the Lunar New Year holiday fell in February

South Korean authorities on Monday introduced a set of measures encouraging listed companies to boost their valuation as a part of efforts to shake off the so-called “Korea discount” which has been haunting the local capital market for decades. Under the “corporate value-up program,” firms listed on the Korean stock market will be advised to disclose their plans to enhance corporate value and shareholder returns while releasing related financial metrics for better communi

Authorities say risks could increase but major fallout unlikely

The Export-Import Bank of Korea, or Eximbank, said Thursday it signed a memorandum of understanding with its German counterpart, KfW IPEX-Bank, pledging to cooperate in financing projects related to strategic technologies and supply chain networks. KfW IPEX-Bank is a specialist bank for export and project financing owned by Germany's main development bank Kreditanstalt fur Wiederaufbau, which translates as Credit Institute for Reconstruction. Eximbank Chairman Yoon Hee-sung met with Velibor

South Korea's central bank froze its key rate for the ninth straight session Thursday amid woes over slower-than-expected inflation moderation and high household debts and maintained its growth outlook for the year at 2.1 percent. In a widely expected decision, the monetary policy board of the Bank of Korea (BOK) kept its policy rate unchanged at 3.5 percent. The BOK has stood pat following rate freezes last February, April, May, July, August, October, November and January. The rate freezes

Foreigners seeking to invest in the Korean capital markets will be able to exchange foreign currencies for Korean won more easily starting in the next quarter, according to the South Korean government on Wednesday. The revision comes as part of the government's efforts to enhance efficiency and stability of securities settlement and foreign exchange trading for offshore investors. The Finance Ministry, the Bank of Korea, the Financial Services Commission and the Financial Supervisory Servic

Gender Ministry rolls out new set of measures to tackle low birth rate

South Korea's exports fell 7.8 percent on-year in the first 20 days of this month due mainly to weak demand from China and fewer working days, but sales of semiconductors soared nearly 40 percent, data showed Wednesday. Outbound shipments reached $30.72 billion in the Feb. 1-20 period, compared with $33.33 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports, however, advanced 9.9 percent on-year to $2.36 billion. The number of working days c

Big five financial firms brace for W20tr in risks stemming from overseas real estate investments

The financial regulator said Wednesday it will unveil a set of guidelines on public disclosures for investments that commit to environmental, social and governance goals in March or April, the financial regulator said Wednesday. The new standards, however, will continue to be subject to changes until their implementation in 2026 or later, according to Kim So-young, vice chairman of the Financial Services Commission. "Considering that discussions of ESG disclosures are being delayed in other

Share of Koreans working over 50 hours down 75% in 20 years

South Korea's exports fell nearly 15 percent on-year in the first 10 days of February due mainly to fewer working days, but sales of semiconductors soared more than 40 percent, data showed Tuesday. Outbound shipments reached $15.01 billion in the Feb. 1-10 period, compared with $17.57 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports, however, increased 11.7 percent on-year to $2.31 billion. The number of working days came to 6.5 days duri

Foreign investors have been active in the South Korean stock market over the past two weeks, contributing to the recent rally in the main KOSPI index, data showed Sunday. Offshore investors scooped up a net total of 5 trillion won ($3.75 billion) worth of local shares from Jan. 29 to Feb. 8, according to the data from the Korea Exchange. Over the same period, the KOSPI rose 5.71 percent to close at 2,620.32 points, while the financial authorities announced plans to boost undervalued stocks. Hyun

South Korea may face an outflow of foreign investment from its financial market should the widely anticipated US rate cuts be further delayed, according to a report Saturday. The report from the Korea Center for International Finance (KCIF) noted that current conditions remained favorable for a steady rise in foreign investment, citing the upcycle in the semiconductor industry. "Favorable conditions for an inflow of foreign capital have been created for now, considering the shift in global

The government is not considering increasing cigarette prices despite falling tax revenue, according to officials Friday. Some media reports have raised the possibility of the government increasing cigarette prices after the April election as it has experienced a shortfall in tax revenue amid an economic slowdown. Last year, South Korea's total revenue, including tax gains, fell 77 trillion won ($57.9 billion), as tax gains fell 51.9 trillion won from a year earlier due mainly to weak corpo