Financial companies which drew a relatively high number of complaints from customers will be subject to full-fledged investigations by regulators.The Financial Supervisory Service said Thursday that it has decided to conduct a large-scale probe into the overall sector including banks, brokerages, credit card firms, insurance firms and savings banks.This will mark the first time that the FSS will probe the overall financial sector simultaneously in terms of customer complaints over each company,

Korean stocks jumped 1.56 percent Wednesday as investors scooped up local shares on hopes for U.S. stimulus measures and eased eurozone woes, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 30.03 points to 1,950.03, snapping a two-session losing streak.Trading volume was heavy at 693.3 million shares worth 5.17 trillion won ($4.59 billion), with gainers far outstripping losers 541 to 278.“Led by optimism about a possible U.

A growing number of the baby boomer generation, which refers to people born between 1955 and 1963 in Korea, is suffering bankruptcy of their small businesses, a financial data provider showed.According to the Korea Financial Telecommunications & Clearings Institute, the total number of micro-business owners with dishonored bills came to 237 for the first eight months of the year.The data showed that 104 individuals, or 44 percent, were baby boomers.This means the proportion of baby boomers out o

Samsung Electronics recently overtook Apple in consumer preferences in the United States, regardless of the recent U.S. jury verdict in favor of Apple in the patent lawsuit between the two companies.According to a survey conducted by YouGov and Early Adopter on 5,000 consumers aged between 18 and 34, preference for Samsung Electronics has rapidly increased to surpass that for Apple over the past two weeks.Over a series of polls by the agencies, the survey showed that Samsung won 45 points on ave

South Korean stocks closed 0.24 percent lower Tuesday as investors became wary ahead of key events at home and abroad, analysts said. The local currency declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 4.7 points to 1,920. Trading volume was heavy at 703.2 million shares worth 4.25 trillion won ($3.77 billion), with losers outpacing winners 457 to 339.“Investors sat on the sidelines to see what policymakers will decide regarding economy-boosting plans later t

South Korean Shin Ji-yai defeated American Paula Creamer in a record playoff battle on Monday for her first LPGA Tour win in nearly two years.At the Kingsmill Championship on the River Course of Kingsmill Resort in Williamsburg, Virginia, Shin parred the ninth playoff hole to edge Creamer, who three-putted for bogey.The playoff was the longest between two players in LPGA Tour history, breaking the

Japan's financial services minister was found dead at his home on Monday in what police believe was a possible suicide, media said.Tadahiro Matsushita, 73, who was also the state minister in charge of postal reform for Prime Minister Yoshihiko Noda, was found collapsed at his house in Tokyo and confirmed dead at hospital shortly afterwards, public broadcaster NHK said.Kyodo News and Jiji Press, ci

Fitch Ratings upgraded South Korea’s sovereign credit rating by one notch on Thursday.This is is the first time in 15 years that Korea has regained the “AA-” rating, which is on par with Saudi Arabia and a step higher than China and Japan.The global rating firm cited its continued economic and financial stability as well as the government’s fiscal discipline.Fitch raised Korea’s government bond rating to “AA-” from “A+”, roughly 10 months after changing the outlook to “positive” from “stable.”It