South Korean stocks may gain with a steady flow of foreign funds, but advances are not likely to be large due to lingering geopolitical concerns this week, analysts said.The benchmark Korea Composite Stock Price Index ended at 2,068.54 last Friday, up 4.6 percent from the previous week’s closing. In the beginning of last week, Korean shares picked up as foreigners loaded up on blue-chip stocks on hints of quantitative easing in the eurozone and the continuation of a low-rate policy by the U.S.Fe

Aug. 31, 2014

South Korea ranked eighth in terms of global trade volume in the first half of 2014, one notch higher than the previous year, a report showed Sunday.According to the report by the Institute for International Trade, a research agency, South Korea’s trade volume came to $546.4 billion during the January-June period. The amount is the eighth largest among the 71 major countries surveyed by the agency. South Korea’s exports grew 2.5 percent on-year to $283.3 billion during the first half, the sevent

Industry Aug. 31, 2014

South Korea’s antitrust watchdog said on Sunday it plans to launch an investigation into consumers’ complaints about the overpriced auto parts used in imported foreign vehicles.“As consumers’ complaints are growing over excessive repair costs of imported vehicles, we are going to look into auto part prices of imported cars in September and October,” Noh Dae-lae, head of the Fair Trade Commission, told reporters during a meeting Thursday. His remarks were embargoed until Sunday. He said that the

Aug. 31, 2014

Samsung SDS, which filed for preliminary examination last week for an initial public offering, was highlighted in the new over-the-counter market. According to the Korea Financial Investment Association, trading volume of the nation’s newly revamped OTC market leaped some tenfold, with shares of Samsung SDS, an IT unit of Samsung Group, making marked gains ahead of its scheduled listing within the year. KOFIA recently eased entry rules and disclosure requirements to widen access to the unlisted

Aug. 31, 2014

Workers of Renault Samsung Motor voted down a tentative wage deal their union had reached with management earlier this year, contending that it falls short of their expectations, the company confirmed on Sunday. The agreement was rejected on Friday, with 62.9 percent of the 2,448 union members voting against it. The union of the carmaker said it plans to hold a general meeting of workers next week to discuss the future course of action.The latest development may lead to partial walkouts similar

Mobility Aug. 31, 2014

GS Engineering and Construction confirmed Thursday that it was considering selling GS Inima, its Spain-based affiliate, to improve its financial health. The builder took over a 79.6 percent stake in Inima, a Spanish builder that specializes in water desalination and treatment, in 2011 for $312.4 million.“We hired HSBC Securities as a lead manager for the deal, but nothing has been decided yet about whether to auction off Inima,’’ the company said in a statement.Industry watchers forecast that if

Industry Aug. 28, 2014

South Korean stocks closed 0.61 percent higher Friday as investor sentiment was lifted by upbeat U.S. data ahead of a key U.S. Federal Reserve event, analysts said.The local currency gained ground against the U.S. greenback. The benchmark Korea Composite Stock Price Index rose 12.49 points to close at 2,056.70, a rebound from a 1.19 percent fall Thursday sparked by hints of an early rate hike in the United States. Trading volume was slim at 273 million shares worth 3.45 trillion won ($3.37 billi

Industry Aug. 22, 2014

KT Corp., the nation’s second-largest mobile carrier, was ordered by a local district court Friday to pay 100,000 won ($97) in compensation to each customer who had personal data leaked in 2012. The Seoul Central District Court’s ruling came after some 28,000 KT users filed a lawsuit against the mobile carrier for the leak of sensitive personal information, demanding compensation of 500,000 won per person.Police earlier discovered that the personal information of 8.7 million users, including soc

Industry Aug. 22, 2014

Monthly household income in South Korea grew 2.8 percent on-year during the second quarter, thanks in part to improving labor market conditions that resulted in more employment, a government report said Friday.The income of households consisting of two members or more averaged 4.15 million won ($4,060) per month during the April-June period, up from 4.04 million won a year earlier, according to the report by Statistics Korea. When adjusted for inflation, income grew 1.1 percent.The growth rate,

Industry Aug. 22, 2014

Yuhan-Kimberly, a leading consumer goods maker in Korea, said Wednesday it signed a memorandum of understanding with the Social Solidarity Bank and the Korea Labor Force Development Institute for the Aged in an effort to launch a retail business for seniors citizens. “The three companies agreed to launch a senior-friendly retail enterprise in October, in which seniors will comprise more than 70 percent of its entire workforce,’’ a company official said. “The new company will offer consumer goods

Industry Aug. 20, 2014