Seoul shares rose for the fifth consecutive session Friday, led by chip shares, despite lingering concerns about US President Donald Trump's sweeping tariff scheme. The Korean won fell to the lowest level in three weeks against the US dollar. The benchmark Korea Composite Stock Price Index rose 6.03 points, or 0.23 percent, to close at 2,643.13. Trade volume was moderate at 482.32 million shares worth 13.73 trillion won ($9.37 billion), with decliners outpacing gainers 562 to 316. Foreigners bou

The state-run Korea Electric Power Corp. said Friday it will freeze the adjusted fuel cost for the second quarter as part of efforts to improve its financial stability. KEPCO said it will keep the adjusted unit fuel cost, a key part of the country's electricity rates, unchanged at 5 won per kilowatt-hour for the April-June period. The company has maintained the adjusted unit fuel cost at 5 won since the third quarter of 2022. For the second quarter, KEPCO initially had to decrease the cost to -4

An economic surveillance organization in Asia on Friday forecast the South Korean economy to grow 1.6 percent this year amid heightened global trade uncertainties sparked by US tariffs. The ASEAN+3 Macroeconomic Research Office made the assessment in a report drawn up after an annual consultative meeting with the South Korean government and relevant agencies in November, according to the Ministry of Economy and Finance. Despite a rebound in domestic consumption, South Korea's economy is expected

South Korea's exports increased 4.5 percent from a year earlier in the first 20 days of March, data showed Friday. Outbound shipments reached $35.5 billion in the March 1-20 period, compared with $34 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports went down 1.4 percent on-year to $34.4 billion during the period, resulting in a trade surplus of $1.1 billion, the data showed. By sector, semiconductor exports climbed 11.6 percent on-year to $7.07 billio

South Korean stocks opened slightly lower Friday, tracking Wall Street losses, as investors moved to lock in profits from recent gains. The benchmark Korea Composite Stock Price Index fell 4.05 points, or 0.15 percent, to 2,633.05 in the first 15 minutes of trading. Overnight, US shares fell amid lack of fresh momentum and uncertainties surrounding the impact of US President Donald Trump's tariff scheme. The Dow Jones Industrial Average edged down 0.03 percent, and the tech-heavy Nasdaq composit

South Korea is expected to face more uncertainties in trade amid the planned imposition of "reciprocal" tariffs by the US Donald Trump administration, the country's vice industry minister said Friday. "Exports slightly increased in February, but environments surrounding exports are still unfavorable," First Vice Industry Minister Park Sung-taek said in a meeting held to check on export trends and related risks. "The US administration imposed duties on all steel and aluminum imports and related d

South Korea's producer prices rose slightly from a month earlier in February on a recent hike in global oil prices, central bank data showed Friday. The producer price index, a major barometer of consumer inflation, reached 120.33 last month, up from 120.27 a month earlier, according to preliminary data from the Bank of Korea. It marks the fourth consecutive month of increase. On a yearly basis, the index rose 1.5 percent last month, marking the 19th consecutive month of an on-year increase. Pro

Savings banks in South Korea suffered a net loss for the second consecutive year in 2024, and their asset quality worsened amid rising soured loans, data showed Friday. The banks posted a combined net loss of 397 billion won ($273 million) last year following a loss of 576 billion won the previous year, according to the data from the Financial Supervisory Service. The watchdog said their losses narrowed on the back of a rise in interest income and decreased reserves against soured loans. Savings

South Korea’s total debt — comprising household, corporate and government obligations — rose by 4 percent in the third quarter of last year, surpassing 6.2 quadrillion won ($4.24 trillion), according to data from the Bank for International Settlements released on Thursday. The figure amounts to 2.5 times the country’s gross domestic product. By the end of the third quarter of last year, Korea's non-financial sector credit reached 6,222 trillion won, up 4.1 percent compared to the same period the

7th Global Biz Forum sets sail with AI, trade and US policy shifts in focus The seventh edition of Global Business Forum, organized by The Korea Herald and Herald Business, launched in Seoul on Wednesday, bringing together business leaders, diplomats and industry experts to discuss investment, artificial intelligence and global trade trends. The forum, themed “Next BIZ Model,” will run every Wednesday until June 25 at The Ambassador Seoul — A Pullman Hotel. During the opening session of the 15-w

Chip giant SK hynix Inc. said Thursday its US sales accounted for over 60 percent of its total revenue last year on rising demand for artificial intelligence chips from major US tech companies. According to a financial report released by SK hynix, revenues from the United States totaled 41.9 trillion won ($28.7 billion) in 2024, making up 63.4 percent of the company's total annual sales of 66.1 trillion won. This marks a significant jump from previous years, where the US portion hovered around 4

South Korea's financial regulator on Thursday unveiled a set of measures to help enhance the competitiveness of savings banks that include easing regulations on mergers and acquisitions, and adopting relatively lax loan classification rules. The Financial Services Commission said it will set up an over 1 trillion-won ($689 million) fund to help savings banks take soured loans off their balance sheets and launch a special vehicle to manage non-performing loans extended by savings banks. The regul

The domestic financial market will face greater volatility due to uncertainties surrounding the Federal Reserve's monetary policy and geopolitical risks, among other factors, the South Korean central bank said Thursday, vowing to continue closely monitoring the market. Bank of Korea Deputy Gov. Ryoo Sang-dai made such an assessment in a meeting to review market conditions after the Federal Reserve kept its benchmark interest rate unchanged Wednesday. "The Fed's meeting generally aligned with mar

The South Korean government will continue to operate its 24-hour market monitoring system amid the planned "reciprocal" tariffs by US President Donald Trump's administration and possible monetary policy adjustments by major economies, the acting president said Thursday. Acting President Choi Sang-mok made the remarks at a meeting on economic and financial market conditions held just a few hours after the US Federal Reserve kept its benchmark interest rate unchanged at the 4.25 to 4.50 percent ra

Around seven out of 10 South Korean households perceive their financial situation having worsened compared to a year ago due to inflation, a poll showed Thursday. According to the survey carried out by the Federation of Korean Industries on 1,000 adults nationwide recently, 71.5 percent of respondents said they felt their household finances had deteriorated over the past year. When asked about the extent of financial change, 26.4 percent reported a 20-30 percent deterioration, while 23.2 percent