Market June 15, 2017

South Korea’s stock markets dipped Thursday after the US Federal Reserve on Wednesday decided to raise its benchmark interest rate by 0.25 percent and shrink its balance sheet. The benchmark indexes -- the Korea Composite Stock Price Index and Korean Securities Dealers Automated Quotations -- sank along with other Asian markets in Tokyo, Hong Kong and Shanghai. The Kospi closed at 2,361.65, down 0.46 percent, compared to Wednesday, while the Kosdaq slid 0.26 percent in closing from a day e

Market June 15, 2017

K bank has drawn 520 billion won ($463.1 million) in deposits in total within less than three months since its launch, surpassing its annual goal, according to news reports Thursday. K bank, South Korea‘s first online-only lender, reportedly exceeded its earlier goal by the end of 2017 on Tuesday, after kicking off the customer service on April 3. It had aimed to attract 500 billion won in customer deposit and lend 400 billion won. As of the end of May, K bank extended some 410 billion won

Market June 15, 2017

The growth of household loans continued to surge at a slower pace in May compared to the previous year, data showed Wednesday.The volume of household loans increased by 10 trillion won ($8.9 billion) in May this year, according to data from the Financial Services Commission. In the same month last year, the volume had risen by 11.9 trillion won.Among household loans in May, those extended by commercial lenders and trust banks surged 6.3 trillion won. Loans by nonbanking lenders saw their increas

Market June 14, 2017

The Korea Trade-Investment Promotion Agency is planning to launch an online service that runs on database to assist local businesses with their engagement overseas.During a press conference to celebrate its 55th anniversary Wednesday, President Kim Jae-hong of the state-funded agency unveiled a plan to launch a website dubbed “Kotra Overseas Markets Big Bot,” which he said is expected to offer businesses practical advice.“We have accumulated data on companies’ business expansion overseas for a l

Industry June 14, 2017

South Korea‘s stock markets rebounded while sovereign bond yields fell Tuesday, despite possible monetary tightening in the United States and Korea. The benchmark indexes of Korean stock markets -- the Korea Composite Stock Price Index and Korean Securities Dealers Automated Quotations -- closed after rising 0.71 percent and 0.66 percent, respectively, Tuesday.The five-year treasury yield dropped to 1.865 percent from 1.917 percent Monday. Ten-year yields edged down to 2.177 percent from 2

Market June 13, 2017

Stocks related to Alzheimer‘s disease remained high despite a slide in the main bourse index Monday, on the back of President Moon Jae-in’s fresh policy initiative to invest some 2 trillion won ($1.78 billion) in supporting Alzheimer‘s patients. Moon last week vowed to install more state-run clinics for dementia treatment, increase personnel to look after the patients and widen medical coverage offered by the state. In South Korea, some 725,000, or 1 in 10 elderly people,

Market June 12, 2017

South Korea has provided over $50 billion in foreign direct investment to Vietnam, data from Vietnam’s State Capital Investment Corp. showed Monday.The accumulated FDI by South Korean businesses in one of the fastest-growing economy in Asia reached $50.6 billion, spanning 5,773 projects from 1988 to 2016.In 2016, the volume of investment from South Korea reached some $6.9 billion, a 2.53 percent increase from 2015. It made up 30.8 percent of the entire FDI inflow into Vietnam. Japan a

Economy June 12, 2017

South Korea showed the third-highest rise of household debt compared to gross domestic product on-year at the end of last year out of the 43 nations surveyed by the Bank for International Settlements, data showed Sunday.South Korea’s household debt-to-GDP ratio came to 92.8 percent as of the fourth quarter of 2016, up 4.7 percentage points compared to the previous year, according to data from the Basel-based financial institution.Before South Korea came Norway, which rose at the steepest r

Economy June 11, 2017

Housing prices in major metropolitan cities in South Korea have soared so far this month on-year, showing a stark contrast to drops in provincial regions, data showed Sunday. Busan, the second-largest city in Korea, showed an 11 percent surge in real estate prices on-year in June, the highest among cities in the nation, according to data by real estate market tracker Budongsan 114.The average apartment price per square meter in Busan reached 2.93 million won ($2,600), while the average in June l

Market June 11, 2017

Emoticons on mobile messengers have pandered to young South Koreans’ taste, becoming an inseparable part of their lives. But in a nation lush with ready-made emoticon packages, which cost some 3,000 won ($2.67) per package, perceptions or reactions to them can differ between generations, sometimes causing communication issues. Bae Hyeon-ji, 27, as many others her age, has a penchant for emoticons she finds “cute and fresh.” Having three to four new emoticon bundles ready for use each year, Bae,

Technology June 9, 2017

South Korean asset management firms saw their combined operating profit fall 14.8 percent in the first quarter on decreased commission fee income, data showed Wednesday. The combined operating profits of 175 local fund management firms came to 142.8 billion won ($127.2 million) by the end of March, down 24.9 billion won from the last quarter of 2016, according to data compiled by the Financial Supervisory Service.The number of management firms suffering deficits also rose to 73, from 67 in the p

Market June 7, 2017

Jonggak Station on Seoul’s Subway Line No. 1 got a second name Friday -- Standard Chartered Bank Korea Station -- the bank said Wednesday.Seoul Metro, an operator of eight subway lines in the Seoul metropolitan area, signed a three-year contract with the Seoul-based unit of the international banking giant on May 29, after the bank won a bid on May 19, according to the bank.  Platform signs and subway maps will state both names for the station. Train announcements of the stat

Market June 7, 2017

Woori Bank is the oldest firm listed on South Korea’s stock market, data showed Tuesday.Woori Bank, the fourth-largest commercial bank in South Korea in terms of market cap, is 118 years old, according to data from the Financial Supervisory Service and the Korea Securities Depository.The bank was founded in 1899 through financing by a Joseon-era emperor. It was called Daehan Cheon-il Bank then, but later renamed itself Commercial Bank of Korea. It was one of the five major banks here until

Market June 6, 2017

More major stocks on South Korea’s top bourse jumped into the 52-week high parade Monday, following the historic rally that led nearly one-fourth of its stocks to hit a peak in May.LG Electronics hit 88,900 won ($79.5), while panel maker LG Display reached 34,300 won and automatic teller machine maker Hyosung tapped 172,000 won at the highest during the Monday trade. The previous yearly high was 86,900 won, 33,500 won and 170,500 won, respectively.They were not the only powerhouses listed

Market June 5, 2017