Sales of short-term corporate bonds in South Korea climbed more than 11 percent in the first half of 2022 from a year earlier on a spike in securitized debt issuance, data showed Friday. Local firms floated 642.7 trillion won ($486 billion) worth of bonds maturing within one year in the January-June period, up 11.3 percent a year earlier, according to the data from the Korea Securities Depositor...

Seoul shares opened lower Friday amid concerns over more aggressive interest rate hikes by central banks to tackle inflation and a global economic slowdown. The benchmark Korea Composite Stock Price Index fell 7.96 points, or 0.34 percent, to trade at 2,314.36 in the first 15 minutes of trading. Institutions and foreigners sold a combined 109 billion won ($82 million) worth of stocks, exceeding...

South Korea's import prices grew for the second straight month in June as oil and raw material prices remained high, central bank data showed Friday. The import price index edged up 0.5 percent in June from a month earlier, according to the preliminary data from the Bank of Korea (BOK). This marked the second straight month of on-month increase following a revised rise of 3.8 percent in May. C...

Low-income borrowers to see better loan deals, extended repayment periods

South Korean stocks retreated Thursday after a choppy session amid jitters about high inflation at home and in major economies. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index declined 6.29 points, or 0.27 percent, to close at 2,322.32 points. Trading volume was relatively low at about 344 million shares worth some 6.4 trillion won ($4.9 billion), with...

South Korea's fiscal deficit rose 22.7 trillion won ($17.4 billion) in the first five months of this year from a year ago due largely to increased government spending aimed at tackling the pandemic, data showed Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of 71.2 trillion won in the January-May period, larger than a shortfall ...

Bank of Korea (BOK) Gov. Rhee Chang-yong will take part in a Group of 20 (G-20) meeting of finance ministers and top central bankers this week in Indonesia, his office said Thursday. Rhee will join the G-20 meeting scheduled to be held from Friday to Saturday in Bali, and discuss key economic and financial issues with his counterparts from advanced and key emerging economies, according to the BO...

South Korea plans to actively tackle herd behavior in the financial market as market volatility has increased amid monetary tightening drives at home and abroad, a senior government official said Thursday. The government plans to step up its monitoring of the market, as the country's financial market has "sensitively" reacted to concerns about high inflation and global recession fears, according...

South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street amid concerns about fast-growing inflation. The benchmark Korea Composite Stock Price Index fell 7.77 points, or 0.33 percent, to trade at 2,320.84 in the first 15 minutes of trading. Overnight, US stocks dropped as the estimate-beating consumer price index for June fanned worries that the Federal Reserve can ac...

South Korea's chief economic policymaker said Wednesday that he is gravely concerned about a possible recession after soaring inflation stabilizes. His remarks came after the Bank of Korea raised its policy rate by a half percentage point, the largest-ever increase, earlier in the day to combat high-flying inflation. "(The BOK's rate hike) will help rein in rising expected inflation down the ro...

FSC hints at imposing full ban on shorting stocks for market stability, but analysts doubt long-term effect

Central bank makes half-point rate hike amid inflation, despite debt burden, downturn

South Korean stocks rebounded Wednesday on eased uncertainties about the central bank's rate decision. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.85 points, or 0.47 percent, to close at 2,328.61 points. Trading volume was relatively small at about 303 million shares worth some 5.9 trillion won (US$4.5 billion), with gainers outnum...

Jeju ranks 1st, Busan bottom in employment rate in June

South Korean students studying abroad and their parents are taking the brunt of the weakening Korean won, as the home currency is hovering around the lowest level against the US dollar in 13 years. After hitting a 13-year low of 1,301.8 won against the greenback on June 23, the Korean currency further extended losses to close at 1,312.1 won Tuesday amid growing global recession fears. The sharp...