South Korean stocks opened higher Monday, led by gains in tech firms and banking firms.The benchmark Korea Composite Stock Price Index rose 8.12 points, or 0.38 percent, to 2,173.16 in the first 15 minutes of trading.Most large caps traded higher, with market kingpin Samsung Electronics adding 0.69 percent and SK hynix, a major chipmaker, rising 0.96 percent.Shinhan Financial, the country's most profitable banking group, added 1.36 percent, and Posco, the No. 1 steelmaker, soared 1.85 percent.In

Market April 24, 2017

South Korea's finance minister pledged on Saturday (local time) to step up policy efforts to help Asia's fourth-largest economy gather upward momentum in the midst of a global recovery.In a meeting with Moody's officials, Finance Minister Yoo Il-ho said the South Korean government will focus its fiscal policies on boosting consumption and investment and make constant efforts to deal with external and internal risks such as household debts, rising trade protectionism and geopolitical issues. He a

Economy April 23, 2017

Presidential front-runner Moon Jae-in's rivals are pushing for parliamentary meetings to be held over the controversies engulfing the Democratic Party nominee, party officials said Sunday. The conservative Liberty Korea Party and Bareun Party demanded the parliamentary committees on diplomacy, defense and intelligence affairs convene to deal with Seoul's abstention 10 years ago from a U.N. action against North Korea.  (Yonhap)The center-left People's Party also demanded the education and labor c

Politics April 23, 2017

A local think tank said Sunday the world economy is in a clear upside mode led by recovering advanced economies, giving an opportunity to export-dependent South Korea.The Hyundai Research Institute (HRI) in Seoul revised up its 2017 growth forecast for the world economy to 3.5 percent from 3.4 percent. The HRI said in a report the United States has entered the "Goldilocks economy" of sustained growth and low inflation as the world's largest economy pulls off moderate growth on the back

Economy April 23, 2017

The number of unemployed people with a bachelor's degree in South Korea surpassed 500,000 in the first quarter for the first time amid the tightened job market for young adults, government data showed Sunday.Jobless people reached 1.17 million in the January-March period, up 1.2 percent from a year earlier, according to the data compiled by Statistics Korea.The number of unemployed college graduates rose 9.2 percent on-year to 543,000 over the three-month period. It is first time that their quar

Economy April 23, 2017

South Korea successfully showcased its ultra-high-definition (UHD) television broadcasting technology at an annual media convention now being held in Las Vegas, Seoul's science ministry said Sunday.The Ministry of Science, ICT and Future Planning said it promoted the country's UHD TV broadcasting technology at the National Association of Broadcasters (NAB) 2017 before full adoption in May. (Yonhap)Major tech firms, including Samsung Electronics Co. and LG Electronics Inc. as well as major broadc

Technology April 23, 2017

South Korea's southern resort island of Jeju is seeking to attract more domestic tourists to offset a sharp decrease in Chinese visitors amid political tensions over the deployment of a US missile shield, industry data showed Sunday.The scenic island had been popular among Chinese tourists and property investors. But its industry was hit hard by Beijing's restriction on its citizens' trips to South Korea in an apparent retaliation for the deployment of a US missile defense system, known as THAAD

Industry April 23, 2017

The US Forces Korea plans to hold an exercise for the evacuation of noncombatant US citizens from South Korea in June, military sources said Sunday.The regular Courageous Channel practices operations for a safe exit of the 230,000 Americans in case of a conflict. The drill is led by the 19th Expeditionary Sustainment Command in Daegu, 302 kilometers southeast of Seoul.  (Yonhap)Tensions have mounted over North Korea's threat of nuclear and missile tests, and the US dispatch of powerful military

Diplomatic Circuit April 23, 2017

South Korea's major business lobby Sunday urged presidential hopefuls to observe market economy principles to create an atmosphere favorable to businesses that leads to more investments in facilities and jobs, which it said is the top priority of any presidential hopeful.The Korean Employers Federation (KEF) called on them to introduce measures to help large shareholders defend against hostile takeover bids and use substitute workers during strikes by labor unions. Such measures will be a prereq

Market April 23, 2017

Senior diplomats of South Korea, the United States and Japan will meet this week seeking to chart new ways to rein in North Korea as the communist country appears to be on the verge of another nuclear provocation.The meeting scheduled for Tuesday in Tokyo will bring together chief negotiators on the North Korean nuclear issue to coordinate their responses to evolving nuclear and missile threats posed by North Korea.  (Yonhap)The Donald Trump administration is in the final stage of the formulatio

Diplomatic Circuit April 23, 2017