South Korean stocks slipped 0.13 percent on Monday as renewed optimism over the eurozone debt crisis faded amid concerns over downbeat economic data and second-quarter earnings, analysts said. The local currency fell against the U.S. dollar.After opening higher, the benchmark Korea Composite Stock Price Index fell 2.36 points to close at 1,851.65, stemming a two-session winning streak. Trading volume was moderate at 265.1 million shares worth 3.41 trillion won ($2.98 billion), with gainers outnu

A majority of South Korean companies see business conditions for their exports will continue to stagnate in the third quarter of the year mainly due to global economic uncertainties triggered by the European debt crisis, a poll showed Friday.The export business survey index came in at 87.5 for the July-September period, the lowest level in 13 quarters since it hit 66.1 in the second quarter of 2009, according to the poll of 964 companies by the Korea International Trade Association.The latest nu

South Korean stocks rallied 1.91 percent on Friday as European leaders reportedly decided to ease bailout rules for debt-ridden governments, analysts said. The local currency gathered ground against the U.S. dollar.The Korea Composite Stock Price Index climbed 34.83 points to finish at 1,854.01. Trading volume was moderate at 309.8 million shares worth 4.29 trillion won ($3.73 billion) with gainers far outpacing losers 578 to 248.“Extreme fears over the eurozone seem to have been lifted. Germany

The Finance Ministry said Thursday that it has revised its projection for the nation’s economic growth for this year down to 3.3 percent, from its earlier forecast of 3.7 percent.In its unveiling of the second-half economic policy direction, the Finance Ministry cited external factors including the eurozone fiscal crisis for the revision.Earlier, the International Monetary Fund and the Organization for Economic Development and Cooperation also lowered their respective forecasts for Korea’s GDP g

Hyundai Motor has continued to post lethargic sales of fuel-efficient cars including the Avante and Sonata hybrids.The automaker’s monthly sales of the Avante hybrid dropped to 118 units on average in May despite a price cut, while the average monthly figure stood at 175 units throughout 2011.Monthly sales of the Sonata hybrid have also fallen to 969 units, compared to the average figure of 1,027 units last year.Though Hyundai Motor has actively been promoting the hybrid models since the first h

South Korean stocks closed marginally lower Wednesday as lingering concerns over the eurozone debt crisis kept investors reluctant to make risky bets, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index edged down 0.15 points, or 0.01 percent, to finish at 1,817.66. Trading volume was moderate at 315.3 million shares worth 4.26 trillion won ($3.68 billion), with losers outpacing gainers 465 to 338.“There’s nothing from the ‘outside’ to invite inve

South Korean stocks closed 0.23 percent lower on Tuesday as investor sentiment remained cautious over a deal to rescue the debt-mired eurozone, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index dropped 4.16 points to finish at 1,821.22. Trading volume was light at 208 million shares worth 2.36 trillion won ($2.03 billion) with decliners outstripping gainers 485 to 305.“There’s a perspective that the summit will again stop short at a mere declara

A group of real estate experts downplayed the possibility of a Japan-like property bubble burst at a forum hosted by the Korea Chamber of Commerce and Industry on Tuesday.Participants who shared the view that the nation’s property market is different from Japan included professor Choi Hee-gap from Ajou University.Choi said that Japan suffered a property market crash ― “which was initiated by enterprises in the 1980s” ― in the wake of policymakers’ rapid hikes in interest rates in the 1990s.“Unli

The nation’s unionized truck drivers walked out of their jobs on Monday, demanding a 30 percent hike in trucking fees and legislation of a guaranted minimum wage and labor rights.Government and industry officials expressed worries over the impact on the economy from the general strike, which comes three years after truckers staged a strike in June 2009.Public officials are also concerned about the possibility that parcel delivery service workers will follow suit.Government officials said about t

South Korean stocks fell 1.19 percent Monday ahead of a European Union summit and amid weak U.S. and Chinese economic data, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index plunged 22.01 points to 1,825.38, marking the third straight session of decline. Trading volume was very light at 277 million shares worth 4.08 trillion won ($3.51 billion), with losers outpacing gainers 501 to 316.“There is persistent uncertainty surrounding the E

Philips Electronics became the first foreign company to be subject to the nation’s antitrust regulatory sanctions for pressuring stores not to cut prices despite the Korea-EU Free Trade Agreement.The Fair Trade Commission said Sunday that it reprimanded the Netherlands-based company with fines of 1.5 billion won ($1.3 million) for not reflecting the reduced tariff on its prices of products in the local market.The company, which sells a variety of home appliances as a unit of Royal Philips Electr