South Korea's central bank is likely to hold its key rate steady this month as soft domestic demand could keep monetary policy accommodative in the near term, a leading provider of economic analysis said Saturday.The Bank of Korea is set to hold its rate review session Thursday to decide whether to keep or adjust the all-time low rate of 1.25 percent. Still, Moody's Analytics said in a report that the South Korean government's stimulus measures such as the proposed 7.1 percent on-year spending i

Despite still-unresolved political and economic tensions over an anti-missile system deployment, Seoul and Beijing have agreed to renew their currency swap deal worth 64 trillion won ($56.9 billion) for another three years, Bank of Korea Gov. Lee Ju-yeol and Finance Minister Kim Dong-yeon told reporters in Washington on Friday. 　The two finance officials are currently in Washington to attend a meeting of G-20 finance ministers and the annual meeting of the International Monetary Fund and the Wor

South Korea's benchmark stock index traded slightly higher after swinging between gains and losses late Friday morning, as foreign investors turned net sellers of local stocks and top cap Samsung Electronics retreated. The benchmark Korea Composite Stock Price Index rose 2.93 points, or 0.12 percent, to 2,477.69 as of 11:20 a.m. after falling as low as 2,469.75 at one point. Samsung Electronics fell 0.55 percent, and global chipmaker SK hynix declined 2.15 percent.Hyundai Motor slipped 1.92

About one-fifth of listed affiliates of the nation's top 10 family-run business conglomerates, or chaebol, have posted public disclosures of their corporate governance, a report showed Friday. Of the 88 listed affiliates of the major business groups, only 17 affiliates made a public disclosure of their governance structure as of September, according to the report by the Daishin Economic Research Institute.  The nation's stock exchange operator maintains that listed firms should disclose the

South Korean shares opened higher Friday, with institutional investors net buyers of local stocks. The benchmark Korea Composite Stock Price Index rose 1.98 points, or 0.08 percent, to 2,476.74 in the first 15 minutes of trading. Most large caps had mixed trading, with market kingpin Samsung Electronics falling 1.72 percent.Top automaker Hyundai Motor declined 0.96 percent, while top steelmaker POSCO rose 1.6 percent.The local currency was trading at 1,133.40 won against the US dollar, down 0.2

Key debate pivots on K bank’s alleged licensing irregularities, business fund issues

The record-high closure of South Korea’s main bourse this week appeared to prove once again that foreign appetite for the market’s tech giants amid a global tech super cycle tends to precede uncertainties from geopolitical tension. Some analysts also highlighted the contrasting trend of large and small cap shares.The main bourse Kospi on Thursday extended a record streak for two days, closing at 2,474.76, up 0.68 percent from Wednesday. On Wednesday, the Kospi hit an all-time high, 2

Scores of children of the owners of nine conglomerates in South Korea have more than 100 billion won ($88.2 million) worth of stocks in related companies, government data showed Thursday, amid the owners preferring the early transfer of assets to their offspring to reduce inheritance tax down the road.The amount of stocks held by 25 children of the nine chaebol, or family-run conglomerates, reached 103.2 billion won as of the end of September, according to data by the Fair Trade Commission.The f

South Korean shares traded slightly higher late Thursday morning, aided by foreign buying.The benchmark Korea Composite Stock Price Index rose 2.73 points, or 0.11 percent, to 2,460.89 as of 11:20 a.m.Top cap Samsung Electronics fell 0.84 percent, and global chipmaker SK hynix declined 1.01 percent. No. 1 automaker Hyundai Motor fell 1.29 percent, and its smaller affiliate Kia Motors traded 2.3 percent lower. POSCO, the No. 1 steelmaker, fell 0.95 percent.Naver, the operator of the country'

New foreign direct investment pledged to South Korea in the first three quarters of this year declined due to military tension on the Korean Peninsula and rising protectionist practices by major trading partners, the government said Thursday.South Korea received $13.59 billion worth of FDI commitments from January to September, retreating 9.7 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.The amount of actual investments made by foreign investors and compani

South Korea's main stock index hit a fresh record intraday high Thursday, tracking a strong lead from Wall Street overnight. The benchmark Korea Composite Stock Price Index gained 4.75 points, or 0.19 percent, to 2,462.91 in the first 15 minutes of trading. Most large caps traded mixed, with market kingpin Samsung Electronics rising 0.62 percent.Top automaker Hyundai Motor fell 0.65 percent, while top steelmaker POSCO rose 1.27 percent.The local currency was trading at 1,131.05 won against the U

South Korea's foreign exchange reserves fell slightly in September as the US dollar's strength reduced the value of non-dollar currencies when converted into the greenback, central bank data showed Thursday.As of the end of September, the country's foreign exchange reserves came to $384.67 billion, down $170 million from the previous month, the Bank of Korea said in a statement. Foreign exchange reserves consist of securities and deposits denominated in overseas currencies, as well as Internatio

Indebted households and the projected pace of aging in South Korea are worrisome, raising an urgent need for the country to develop households’ financial systems and access, a report showed Wednesday. Korea had the highest household debt to gross domestic product ratio among 10 Asian countries analyzed in 2016, according to the Allianz Global Wealth Report 2017 released by the German insurance giant. The debt ratio of Asia’s fourth-largest economy came to 95.8 percent, much higher th

South Korea's main stock index hit a record high on Wednesday, buoyed by strong buying by foreign investors, while Samsung Electronics rallied ahead of its earnings release. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 24.35 points, or 1 percent, to close at 2,458.16. Trade volume was moderate at 193 million shares worth 5.6 trillion won ($3.07 billion). The local stock market opened higher, tracking a strong lead from Wall Street overnight. 

An independent panel in charge of drawing up financial reform measures said Wednesday it has found possible irregularities by financial authorities in granting a license to the nation's first Internet-only bank, K-Bank. The possible irregularities are centered on Woori Bank, one of the major shareholders of K-Bank with a 10-percent stake, according to the panel. Under banking laws, Woori Bank was required to have a capital adequacy ratio of more than the average ratio of banks when financial aut