[THE INVESTOR] Latham & Watkins was permitted to open the branch in Seoul to provide international law-related consultancy services and other services with local law firms, the Ministry of Justice said. The leading US law firm, founded in 1934, is the world's highest-grossing law firm, with US$2.65 billion in annual revenue.The firm is considered one of the most prestigious and profitable law firms in the world.  Screen capture of the homepageSeoul has been opening its market in stages so as to

[THE INVESTOR] Science, ICT and Future Planning Minister Choi Yang-hee said on Oct. 14 that it would be right to regulate the country’s No. 1 Internet portal operator Naver if it is found to have engaged in any unfair practice against media outlets.“I think it would be right to regulate (Naver) if it is found to be abusing its market control or monopoly in an aim to engage in irregular practices regarding contracts (with news outlets),” Choi said during an annual audit at the National Assembly.T

[THE INVESTOR] Finance Minister Yoo Il-ho said on Oct. 14 the government will maintain a pro-growth fiscal policy amid worries that the economy may fall into a drawn-out, Japanese-style slump.“(The government) has worked hard so far to implement an expansionary fiscal policy, and it will continue to do so down the road,” he said during a parliamentary audit session at the National Assembly.He was responding to a lawmaker’s question about IMF chief Christine Lagarde’s comments on the South Korean

[THE INVESTOR]  South Korea and Singapore have signed an agreement on the automatic exchange of their citizens’ financial information to improve international tax compliance, according to the Ministry of Strategy and Finance on Friday. Starting from 2018, the financial authorities of the two countries will annually collect and exchange financial information of residents including their names, addresses, bank accounts and balance. Exchanges of more detailed information, such as gross proceeds of

[THE INVESTOR] KOSDAQ closed higher at 664.92, up 1.83 points(0.28%) from the previous trading day, on Oct. 14. 

[THE INVESTOR] KOSPI closed higher at 2,022.66, up 7.22 points (0.36%) from the previous trading day, on Oct. 14.

[THE INVESTOR] South Korea’s exports to Vietnam have more than doubled over the past five years, making it the world’s third-largest importer of South Korean products, a report said on Oct. 14.In 2015, the country’s outbound shipments to Vietnam came to US$27.8 billion, spiking 24.1 percent from $22.4 billion the previous year, according to the report from the Korea International Trade Association.Such an increase came amid a prolonged slump in South Korea‘s exports, which had posted an on-year

[THE INVESTOR] South Korean shares traded sharply higher late morning on Oct. 14 as both foreigners and institutional investors turned to buying.The benchmark KOSPI added 11.02 points, or 0.55 percent, to 2,026.46 as of 11:20 a.m. Both institutions and foreign investors were net buyers, a rather rare phenomenon last seen on Sept. 29. Retail investors were net sellers.Most large caps were in positive terrain.Samsung Electronics gained 0.51 percent, while global steelmaker POSCO spiked 1.76 percen

[THE INVESTOR] South Korea and Cuba have inked a high-level bilateral accord on an economy-related program, laying the groundwork for the launch of full-scale partnerships, Seoul’s Finance Ministry said on Oct. 14.The two sides signed the memorandum of understanding on sharing South Korea’s experience in economic development in a ceremony held in Havana on Oct. 13 (local time), according to the ministry.It represents the first government-level MOU between the two countries, which have no formal

■ China’s export data raises concerns over economic downturn; USD-KRW surges on risk aversionThe USD-KRW rate opened October 13 at KRW1,126.0, up KRW2.4 from the previous close, reflecting the continued strength of the USD after the U.S. Fed’s FOMC minutes reaffirmed its willingness to raise the benchmark rate within this year. The Bank of Korea’s Monetary Policy Committee kept its benchmark rate changed in the morning. The impact on the market was marginal. The USD-KRW rate soared as investor s

[THE INVESTOR] South Korea’s export prices fell for a 50th consecutive month in September, central bank data showed on Oct. 14.In local currency terms, export prices fell 8.3 percent last month from a year earlier, according to preliminary data from the Bank of Korea. From a month earlier, however, export prices gained 0.7 percent, it said. Export prices of industrial goods slipped 8.4 percent year-on-year in September while those of agricultural and fisheries products climbed 10 percent during

[THE INVESTOR] KOSPI opened higher at 2,021.66, up 6.22 points (0.31%) from the previous trading day, on Oct. 14.

[THE INVESTOR] KOSDAQ opened higher at 664.43, up 1.34 points(0.20%) from the previous trading day, on Oct. 14. 　

[THE INVESTOR] KOSDAQ closed lower at 663.09, down 6.86 points(1.02%) from the previous trading day, on Oct. 13. 　

[THE INVESTOR] KOSPI closed lower at 2,015.44, down 18.29 points (0.90%) from the previous trading day, on Oct. 13. 

[THE INVESTOR] The Bank of Korea said on Oct. 13 that it has revised down its growth outlook for next year to 2.8 percent from the 2.9 percent forecast three months earlier.The outlook is lower than the government’s estimate that the local economy could reach the 3 percent range next year.BOK Gov. Lee Ju-yeol said South Korea will not have difficulties in achieving 2.7 percent economic growth this year.BOK Gov. Lee Ju-yeolLee said that the central bank took into account fallout from Samsung’s Ga

[THE INVESTOR] The Bank of Korea Governor Lee Ju-yeol sain on OCT. 13 that BOK slashed 2017 growth outlook to 2.8 percent from 2.7 percent.BOK also maintained the benchmark rate at 1.25 percent, keeping the record-low rate since June.Following is the full text of the BOK’s statement on its monetary policy decision for October. ----------------The Monetary Policy Board of the Bank of Korea decided today to leave the Base Rate unchanged at 1.25 percent for the intermeeting period.Based on currentl

[THE INVESTOR] Chinese handset makers, including top three Huawei, Vivo and Oppo, are expected to snatch the demand for Samsung Electronics’ now suspended Note 7 smartphone, according to a recent report of a market research firm. TrendForce estimated that Samsung has produced about 4 million units of the bigger-screen phone since the device went on sale in August. The original production volume forecast for the entire 2016 was between 10 to 12 million units. The firm added that chances of rework

■ Strong USD and weak sentiment vs. level burden, exporters’ USD selling; USD-KRW up slightlyThe USD-KRW rate opened October 12 at KRW1,123.8, up KRW3.4 from the previous close. The USD received upward pressure and investor sentiment had weakened on declines in stock markets of major economies and oil prices. The USD-KRW rate rose further after the market opened on increased net selling of stocks by foreign investors. However, the upside was limited due to the burden of more than a KRW10 increas

[THE INVESTOR] KOSDAQ opened higher at 671.69, up 1.74 points(0.26%) from the previous trading day, on Oct. 13.