Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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US stock futures fall again after another big drop
NEW YORK (AP) -- U.S. stock futures fell Thursday, following European markets lower and a day after another big drop on Wall Street.Worries have focused on the health of European banks, particularly those in France, this week. France's central bank said Thursday that the country's banks are solid an
Aug. 11, 2011
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Stocks strengthen for second day
The nation’s stock market saw gains for the second consecutive day amid emerging investor sentiment that the Korean economy is not critically exposed to external woes.The Korea Composite Stock Price Index climbed by 11.2 points from a day before to close at 1,817.44 though the index plunged during t
Aug. 11, 2011
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Lee stresses importance of foreign press briefings
President Lee Myung-bak has instructed the Finance Ministry to notify foreign investors of Korean financial markets’ capability to weather the European debt crisis, government officials said Thursday.Lee called for officials to carry out the mission by holding press conferences for foreign media dur
Aug. 11, 2011
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Is Korea’s ‘open’ market a curse?
Officials concerned about greater volatility from structural problemsOpenness in financial markets is supposedly a positive thing. But this rule does not exactly apply to Korea’s “open” stock market that has been fluctuating in a way deemed more volatile than that of its peers in Asia and elsewhere.
Aug. 11, 2011
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Kookmin Bank investing heavily in stocks: sources
South Korea’s top lender Kookmin Bank has invested a large amount of money in stocks in an apparent bid to seize on the recent market tumble, industry sources said Thursday.Kookmin Bank, the flagship of No. 1 bank holding firm KB Financial Group Inc., entrusted its affiliate KB Asset Management with
Aug. 11, 2011
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Seoul concerned by fresh capital inflow from U.S.
The government said it is worried about cheap credit in the U.S. destabilizing the local economy as large funds into the region could worsen inflationary pressure. “The U.S. Federal Reserve’s pledge to maintain zero interest rate policy in the medium term could destabilize other economies even if th
Aug. 11, 2011
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Asian stocks lower after Wall Street tumbles
BANGKOK (AP) -- Asian stock markets followed Wall Street lower Thursday as concerns mounted over the worsening debt crisis in Europe and a slackening global economy.Oil prices hovered below $83 a barrel, while the dollar slipped against the yen and the euro. Markets continued to wobble am
Aug. 11, 2011
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U.S. stock futures advance after profit reports beat estimates
U.S. equity-index futures gained, signaling stocks may rebound from near the lowest levels in about a year, after companies from Cisco Systems Inc. to News Corp. reported better-than-estimated earnings.Cisco, the world’s largest maker of networking equipment, exceeded analyst’s profit estimates afte
Aug. 11, 2011
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BOK freezes key rate despite inflation risks
Central bank projects headwinds from debt woes in U.S. and Europe South Korea’s central bank on Thursday kept the key interest rate steady at 3.25 percent for the second month in a row, as global financial market turmoil sparked by the U.S. credit rating downgrade and Europe’s debt woes outweig
Aug. 11, 2011
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Stocks tank on European bank, US economy fears
Trader Peter Tuchman works on the floor of the New York Stock Exchange Wednesday. (AP-Yonhap News)LONDON (AP) -- Concerns over the financial health of Europe's banks and the state of the U.S. economy sent stocks sharply lower Wednesday, a day after the Federal Reserve's pledge to keep extremely low
Aug. 11, 2011
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Stocks in U.S., Europe slide as Treasuries rally
U.S. stocks tumbled, erasing more than half of yesterday’s rally, while European shares slid and Treasuries rose for a third day amid concern the economic recovery is faltering and the debt crisis is spreading to France. The euro weakened against 11 of 16 major peers, dropping 1.1 percent to $1.4220
Aug. 10, 2011
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Market rebounds on U.S. Fed pledge
Lee urges close cooperation with foreign governmentsSeoul stocks rebounded in wobbly steps and advanced a tiny 0.27 percent to close at 1,806.24 Wednesday, tracking overnight recoveries in the U.S. and Europe on the Federal Reserve’s pledge to keep money flow cheap for the next two years.The benchma
Aug. 10, 2011
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Fed’s rate move may be boon for Korea
Dimmer U.S. economic outlook, rising inflation at home still pose riskAs the U.S. Federal Reserve pledged to keep its benchmark interest rate at near zero through mid-2013 helping Wall Street to stage a rebound Tuesday, investors in Seoul also seemed less nervous. Still, a bigger question remains: W
Aug. 10, 2011
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BOK expected to miss inflation target
The possibility that Korea will fail to meet its inflation target of 4 percent for 2011 increased as the European debt crisis continued to hit local financial markets.The Bank of Korea, which has pushed for tightening monetary policies in an attempt to curb consumer prices, is unlikely to raise the
Aug. 10, 2011
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Korea likely to weather financial turmoil: Morgan Stanley
South Korea is expected to tide over the ongoing financial turmoil stemming from jitters over the U.S. economy and the European debt crisis, thanks to its solid exports and improved financial indicators, a report showed Wednesday.“We think Korea’s exports will fall less than other countries (like la
Aug. 10, 2011
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Shinhan targets younger customers
Shinhan Bank, under the customer-oriented management policies of CEO Suh Jin-won, has been diversifying its financial products.The commercial bank’s couple-customized products offer higher interest rates to those who register as couples through the lender’s smartphone application.Shinhan has release
Aug. 10, 2011
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KEB’s Q2 net jumps more than eightfold
Korea Exchange Bank, South Korea’s No. 5 lender, said Wednesday that its second-quarter earnings jumped more than eight times from a year earlier on a one-off profit from the sale of a stake in a local builder and improved interest margins.Net income amounted to 1.13 trillion won ($1.05 billion) in
Aug. 10, 2011
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Money supply growth hits 7-year low
South Korea’s money supply grew at the slowest pace in more than seven years in June as liquidity offered by the government decreased despite brisk bank lending, the central bank said Wednesday.The country’s M2, a narrow measure of its money supply, reached 1,697.2 trillion won ($1.57 trillion) in J
Aug. 10, 2011
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Baby boomers looking to diversify real estate-heavy retirement savings
For Korea’s baby boomer generation, post-retirement plans usually revolve around real estate investments. But this longstanding strategy, which relied solely on a continuously booming housing market, is being reconsidered as apartment prices remain in a protracted slump. Baby boomers here, many
Aug. 10, 2011
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KT to cut mobile service rates
South Korea’s telecom giant KT Corp. is considering cutting its monthly service rates by 1,000 won ($0.93) in line with the government’s efforts to stem high inflation, a company official said Wednesday.“We’ve mapped out a draft plan to lower mobile phone rates,” said an official from KT. “We are in
Aug. 10, 2011
