South Korea's state-run financial institutions will check the profitability of large overseas construction projects and shipbuilding orders to prevent local companies from winning contracts that will lead to losses down the road, the government said Tuesday.In a meeting chaired by Finance Minister Choi Kyung-hwan in Seoul, senior officials pointed out that excessive competition to secure bids have eroded profitability, leading to the winners eventually losing money.Choi said state financial inst

Nov. 10, 2015

South Korean stocks tumbled 1.44 percent Tuesday as investor sentiment worsened amid growing expectations for a rate hike in the United States following the latest brisk jobs data, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 29.11 points to 1,996.59, the lowest level since Oct. 6, when it dropped to 1990.65 points. Trading volume was light at 407.24 million shares worth 5.36 trillion won ($4.63 billion), with losers far su

Nov. 10, 2015

South Korea's overseas direct investment surged more than 17 percent on-year in the first nine months of 2015 as more money was poured into financial and insurance operations, government data showed Tuesday.The country's overseas direct investment came to $27.05 billion in the January-September period, up 17.1 percent from the $23.11 billion posted for the same period last year, according to the data by the finance ministry."Investment in China was down due to a slowdown in the world's No. 2 eco

Nov. 10, 2015

South Korean stocks traded 0.95 percent lower late Tuesday morning as investors remained concerned over a possible U.S. rate hike.The benchmark Korea Composite Stock Price Indexshed 19.32 points to 2,006.38 as of 11:20 a.m.Tech shares continued to lose ground, with market behemoth Samsung Electronics falling 0.74 percent and leading chipmaker SK hynix losing 0.48 percent. Top steelmaker POSCO shed 1.97 percent, and Korea Zinc shed 0.65 percent. No. 2 steelmaker Hyundai Steel plunged 1.36 percent

Nov. 10, 2015

South Korean stocks started lower on Tuesday following losses from techs and mobile carriers. The benchmark Korea Composite Stock Price Index shed 3.76 points, or 0.68 percent, to 2,011.94 in the first 15 minutes of trading.Tech shares led the market decline, with Samsung Electronics falling 0.82 percent and top chipmaker SK hynix losing 1.44 percent. LG Display shed 0.23 percent.Mobile carriers were also among losers, with SK Telecom moving down 0.44 percent and KT decreasing 0.35 percent. LG U

Nov. 10, 2015

South Korean stocks shed 0.75 percent on Monday amid growing expectations for a U.S. rate hike following better-than-expected job data in the world's largest economy, analysts said. The local currency tumbled against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 15.37 points to 2,025.7. Trading volume was light at 427.73 million shares worth 5.92 trillion won ($5.1 billion), with losers far surpassing winners 694 to 138."Concerns over a U.S. rate hike weighed heavily on th

Nov. 9, 2015

South Korean stocks traded 0.3 percent lower late Monday morning as investor investment was spooked by growing expectations of a U.S. rate hike, analysts said.The benchmark Korea Composite Stock Price Index shed 6.09 points to 2,034.98 as of 11:20 a.m.The U.S. unveiled its latest jobs data last week, which far exceeded market estimates and raised expectations that the U.S. Fed could raise its interest rate in its meeting scheduled in December, a decision that could affect the financial market he

Nov. 9, 2015

The exchange traded notes market in South Korea has grown exponentially since its debut on the local stock market a year ago on the back of robust demand for less risky investment, the country's main bourse operator said Monday. The average daily turnover of ETNs reached 42.1 billion won ($36.5 million) as of last Friday, compared with 187 million won tallied during the first month of its launch in November last year, according to the data by the Korea Exchange. An ETN is a type of debt security

Nov. 9, 2015

South Korean stocks started lower on Monday as investors offloaded shippers and tech firms, analysts said.The benchmark Korea Composite Stock Price Index shed 12.71 points, or 0.62 percent, to 2,028.36 in the first 15 minutes of trading.Shipping firms tumbled amid rumors that the government is pushing for a merger between major market players. Hanjin Shipping and Hyundai Merchant Marine both dropped over 7 percent. Tech companies also weighed down on the market, with market leader Samsung Electr

Nov. 9, 2015

South Korean banks' lending to large companies fell in the first nine months of the year amid a protracted economic slump, despite an upturn in overall loans, industry data showed Monday.Outstanding loans extended by Shinhan Bank, Kookmin Bank and four other major lenders reached 1,035.85 trillion won ($898.6 billion) as of end-September, up 56 trillion won from 979.6 trillion won tallied in January, according to the data.A combined 499.5 trillion won went to small and medium enterprises and mom

Nov. 9, 2015

Korean banks' lending to self-employed people have hit a record high this year, central bank data showed Sunday, prompting financial authorities to move to tighten loan screening procedures.Outstanding bank loans to the self-employed reached 232.6 trillion won ($203.7 billion) as of end-September, accounting for 42 percent of total bank lending to small and medium enterprises, according to the data by the Bank of Korea (BOK).In the first nine months of the year, such loans rose 23.3 trillion won

Nov. 8, 2015

South Korean stocks shed 0.41 percent on Friday ahead of the release of a U.S. jobs report that could give hints to the Federal Reserve's rate decision, although some bio shares helped erase some of the earlier losses, analysts said.The local currency fell against the U.S. dollar.  The benchmark Korea Composite Stock Price Index fell 8.34 points to 2,041.07. Trading volume was light at 436.7 million shares worth 4.34 trillion won ($3.8 billion), with losers far surpassing winners 552 to 260.  An

Nov. 6, 2015

South Korean stocks traded 0.12 percent lower late Friday morning as investors switched to selling mode ahead of the release of U.S. jobs data, while a bio rally offset part of the loss.  The benchmark Korea Composite Stock Price Index retreated 2.55 points to 2,045.97 as of 11:20 a.m.  Most blue chip shares were in negative terrain.   Market bellwether Samsung Electronics declined 0.67 percent, and leading automaker Hyundai Motor slipped 0.6 percent.   Bio and health care shares traded bullish

Nov. 6, 2015

South Korean stocks started higher Friday as investors piled up bio shares after Hanmi Pharmaceutical announced a mega license agreement with a French drugmaker.  The benchmark Korea Composite Stock Price Index added 2.45 points, or 0.12 percent, to 2,051.86 in the first 15 minutes of trading.  Bio shares got off to a strong start after Hanmi Pharmaceutical on Thursday said it reached a license agreement with Sanofi to develop a portfolio of experimental, long-acting diabetes treatments, worth u

Nov. 6, 2015

The third hearing of a multi-billion-dollar case the U.S. private equity firm Lone Star filed against South Korea over its asset sell-offs will be held in The Hague in January, the Justice Ministry here said Thursday.Lone Star and the South Korean government will counter each other at the International Centre for Settlement of Investment Disputes (ICSID) in the Netherlands from Jan. 5-8 over the equity fund's 2003 purchase of a controlling stake in Korea Exchange (KEB) and its sell-off, the mini

Nov. 5, 2015

South Korean stocks shed 0.16 percent Thursday as the U.S. Federal Reserve hinted at a potential rate hike within the year, analysts said. The local currency fell against the U.S. dollar.  The benchmark Korea Composite Stock Price Index decreased 3.36 points to 2,049.41. Trading volume was moderate at 336.8 million shares worth 3.92 trillion won ($3.44 billion), with winners outpacing losers 404 to 390.  Fed Chair Janet Yellen said Wednesday (U.S. time) the central bank has not yet decided wheth

Nov. 5, 2015