The number of counterfeit South Korean banknotes detected here in the first half of this year rose 36.5 percent from a year earlier, the central bank said Sunday. A total of 912 counterfeit bills were found in the January-June period, up from 668 in the same period last year, according to the Bank of Korea.The increase came as 469 10,000-won ($9) counterfeit bills with the same serial number were found.In South Korea, the 10,000-won bill is the second-highest denomination behind the 50,000-won b

South Korean banks posted surprisingly good first half earnings on the back of an economic recovery and an uptick in interest rate, industry data showed Sunday, stirring up concerns over their bonus plans amid ballooning household debt. According to the data, the country's four biggest banking groups -- Shinhan Financial Group Co., KB Financial Group Inc., Woori Bank and Hana Financial Group Inc. -- posted a combined 5.88 trillion won ($5.25 billion) in net profit for the first six months of the

South Korea's sole bourse operator has sent a warning to all listed companies against possible insider trading as it cracks down on unfair stock transactions, market sources said Sunday. In the warning sent to a combined 2,151 companies listed on the country's benchmark KOSPI, the secondary KOSDAQ and the tertiary KONEX on Thursday last week, the Korea Exchange said it will keep closer tabs on company officials who engage in stock trading using nonpublic information, sources said.The move came a

South Korean stocks ended up at a fresh record high Friday on the back of strong foreign buying amid expectations of solid corporate earnings results. The won sharply rose against the US dollar.  The benchmark Korea Composite Stock Price Index rose 8.22 points, or 0.34 percent, to close at 2,450.06. Trade volume was moderate at 246.05 million shares worth 5.11 trillion won ($4.6 billion), with decliners outnumbering gainers 404 to 396.  Foreigners bought a net 282.43 billion won worth

South Korean stocks turned higher Friday morning as foreigners increased their holdings. The won traded down against the dollar.  The benchmark Korea Composite Stock Price Index that started the day in negative territory rebounded to rise 1.06 points, or 0.04 percent, to 2,442.90 as of 11:20 a.m.Foreigners bought a net 65.4 billion won ($58 million) worth of stocks, outpacing stock selling worth 63 billion won by institutions and individuals. Tech and auto stocks pushed down the index, with

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street.  The benchmark Korea Composite Stock Price Index fell 1.15 points, or 0.05 percent, to 2,440.69 in the first 15 minutes of trading. The main index hit a record high of 2,441.84 points in the previous session. On Thursday (US time), the Dow Jones industrial average ended down 0.13 percent at 21,611.78. Tech and auto stocks led declines, with market bellwether Samsung Electronics Co. falling 0.94 percent a

Shinhan Financial Group Co., a major South Korean banking group, said Thursday that its net profit rose 30.5 percent in the second quarter from a year earlier on increased interest income.Net profit for the second quarter climbed to 892 billion won ($792 million) from 683.5 billion won a year earlier, the bank said in a regulatory filing.In the January-June period, the group's combined net shot up to 1.88 trillion won, the highest since the foundation of the financial group in 2001, it said. Shi

In his inauguration speech Wednesday, new Financial Service Committee Chairman Choi Jong-ku addressed skyrocketing household debt, indicating he may push to adopt the debt-service ratio in household loans to toughen the lending process.“(The FSC) will advance the credit rating systems in financial firms by laying out ones based on the debt-service ratio,” Choi said in a speech at FSC headquarters in central Seoul.He described the nation’s household debt as “the biggest la

Monetary easing in South Korea has lasted for over a year, with the country’s central bank keeping a record low rate of 1.25 percent for 13 months as of July. Amid uncertainties surrounding the rate, Standard Chartered Bank Korea, the local unit of the London-based banking group, has been holding an event rewarding customers with benefits from checking account interest rates, the bank said Thursday. The move was partly to provide new customers who open checking accounts dubbed My Plus Acco

South Korean stocks ended up at a fresh record high Thursday amid expectations of solid corporate earnings results. The won fell against the US dollar.  The benchmark Korea Composite Stock Price Index rose 11.90 points, or 0.49 percent, to close at 2,441.84. Trade volume was moderate at 246.84 million shares worth 5.27 trillion won ($4.5 billion), with gainers outnumbering decliners 431 to 354. Institutions and foreigners bought a combined 102.45 billion won worth of stocks amid expect

South Korean stocks turned lower Thursday morning as foreigners and institutions offloaded their holdings. The won traded down against the dollar.  The benchmark Korea Composite Stock Price Index that started the day in positive territory surrendered 0.60 points, or 0.02 percent, to 2,429.34 as of 11:20 a.m.Foreigners and institutions sold a combined 40 billion won ($36 million) worth of stocks more than they bought. Individuals acquired a net 25 billion won that kept the main index from fa

Woori Bank, a major South Korean commercial lender, said Thursday its net profit for the first six months of this year jumped 46.4 percent on year, thanks to a solid gain in both interest and non-interest income.Net profit jumped to 1.09 trillion won ($971 million) in the January-June period on a consolidated basis, the lender said in a statement. It marked the biggest six-month profit since 2011, the lender said. For the second-quarter of this year, Woori Bank's net profit soared 50.1 percent o