CJ CGV Vietnam Holdings Co. said Friday it will further expand its presence in Vietnam by maximizing funds from its planned listing in South Korea this month.　The cinema chain based in Vietnam is scheduled to go public on Seoul‘s main KOSPI bourse on Nov. 16. It plans to issue 5.71 million shares, with the share price to be set between 18,900 won (US$16.8) and 23,100 won, according to the firm and the bourse operator, Korea Exchange.　“We find great potential in the Vietnamese market,

Concerns are growing that President Moon Jae-in and his aides have stuck to economic policies detached from the reality of the country’s economy, which is rapidly losing vitality amid deteriorating conditions at home and abroad.According to government sources, Moon plans to preside over a meeting of economy-related ministers in November for the first time in four months to call for strengthening efforts to enhance economic fairness. Discussion at the planned meeting is set to focus on faci

South Korea's chief economic policymaker said Thursday that the government will strive to boost lackluster facility investment by accelerating state-led projects.Finance Minister Kim Dong-yeon also promised to slash regulatory red tape to allow the private sector to focus on making investments that can contribute to economic growth. "The government will make efforts to provide a momentum for facility investment to turn around," Kim said in an economy-related ministers meeting.Facility

South Korea's exports rose in October compared with a year ago on upbeat sales of memory chips and petrochemical products, government data showed Thursday.Outbound shipments reached $54.97 billion last month, a 22.7 percent surge from a year ago and the second-highest monthly figure since September 2017, according to the data compiled by the Ministry of Trade, Industry and Energy.  Imports jumped 27.9 percent on-year to $48.42 billion in October, resulting in a trade surplus of $6.55 billio

South Korea's consumer price growth accelerated in October, hitting the highest in 13 months, on a sharp rise in prices for agricultural goods and oil-related products, government data showed Thursday.The country's consumer price index climbed 2 percent last month from a year earlier, moving up from the previous month's 1.9 percent on-year gain, according to the data compiled by Statistics Korea.The reading marks the highest since September 2017, when the comparable figure was 2.1 percent.From a

The recent move by China and Japan toward reinvigorating their economic partnership could lead to aggravating the external environment for the Korean economy, experts here say.The cooperative mood between the world’s second- and third-largest economies is coming at a time when Korea’s economic ties with its two neighboring powers have been shadowed by lingering diplomatic estrangement.It has also raised concerns that Seoul may be sidelined from discussions on key matters involving th

South Korea's industrial output for September posted its biggest drop in 19 months due to a fall in auto and electronic parts production, government data showed Wednesday, raising concerns that the economy is on the brink of a slowdown.Production in the mining, manufacturing, gas and electricity industries backtracked 2.5 percent on-month, following a revised 1.3 percent on-month gain in the previous month.On a monthly basis, the September reading is the sharpest decrease since February last yea

Policymakers claim ‘stock market overreaction’ while vowing for relevant contingency plan

South Korea has asked that it be exempted from the US' proposed tariffs on imported cars as the two sides have concluded negotiations on autos under their revised bilateral trade pact, Seoul's finance ministry said Tuesday.In a meeting with Rob Rapson, deputy chief of mission at the US Embassy in Seoul, Vice Finance Minister Ko Hyeong-kwon also stressed that the South Korean auto industry had invested over $10 billion in the US and generated more than 110,000 jobs, according to the ministry.The

The number of temporary workers in South Korea rose slightly this year from a year earlier, with the percentage of such employment also rising, government data showed Tuesday.A total of 6.61 million workers were non-regular workers, part-timers or outsourced laborers as of August 2018, up 36,000 from a year ago, according to the data from Statistics Korea.They accounted for 33 percent of the country's 20.04 million salaried employees. The 2018 data also showed that of the non-regular workers, 2.

South Korea’s economy is expected to face growing economic uncertainties next year, with the government ready to take preemptive measures to reduce any possible downside risks, the country’s chief economic policymaker said Monday.“Given various factors such as external conditions, our economy may face growing uncertainties,” Finance Minister Kim Dong-yeon said in a parliamentary audit session in Seoul.The minister said the government will take measures to reduce any poten

South Korea's state health insurance program will have an income of 120.3 trillion won ($105.47billion) and expenditure of 122.49 trillion won by 2027, according to projections by the welfare ministry Monday.Income figures were derived on assumption that insurance payments will increase 2.04 percent in 2014, 3.49 percent in the years 2019-2022 and 3.2 percent in the years 2023-2027, with government a subsidy of 13.6 percent from 2019 onward. The ministry's projections, provided for a parliamenta

Major South Korean financial firms vowed Monday to establish an emergency monitoring system to better respond to market instability, their association said.The pledge came after chiefs of 12 local securities firms and nine asset management companies held an emergency meeting earlier in the day to assess the current market situation and discuss ways forward to stabilize the market. In the face of a mixture of unfavorable factors both at home and abroad, the benchmark KOSPI has tumbled more than 1

The government will actively work to stabilize the equity market by setting up a 500 billion-won ($438.4 million) fund that can be injected into local stocks, the country's financial regulator said Monday.Kim Yong-beom, vice chairman of the Financial Services Commission, made the remarks at a meeting with senior executives from brokerages, as he sought to reassure investors amid a sharp decline in stock prices. South Korea's benchmark stock index sank nearly 6 percent last week as foreign invest

Observers fear a Kospi dip below 2,000 mark; securities sector calls for emergency meeting