Seoul, May 13 (IANS) The South Korean economy is projected to expand 2.5 per cent in 2026, supported by strong growth in the semiconductor industry and a recovery in domestic consumption, a state-run think tank said on Wednesday.The Korea Development Institute (KDI) raised its 2026 growth forecast from 1.9 per cent projected in February, noting that the country has maintained solid export growth driven by semiconductors despite a challenging business environment, including Washington’s tariff po…
Latest Korea Composite Stock Price Index News & Updates
Seoul, May 8 (IANS) The Supreme Court on Friday upheld a two-year prison sentence for Hankook & Company Chairman Cho Hyun-bum for misappropriating and embezzling company funds.The top court confirmed an appellate court ruling that found Cho guilty of breach of trust and embezzling about 2 billion won (US$1.36 million), dismissing appeals by both Cho and the prosecution, reports Yonhap news agency.The appellate court had ruled that Cho used corporate cards for personal use, made the company c…
Seoul, May 7 (IANS) SK Telecom, South Korea’s leading mobile carrier, said on Thursday its net profit fell 12.5 per cent from a year earlier as the company continued to deal with the aftermath of a massive data breach last year.Net income came to 316.4 billion won (US$218 million) in the first three months of this year, down from 361.6 billion won a year ago, the company said in a regulatory filing, reports Yonhap news agency.Operating profit for the January-March period fell 5.3 percent on-year…
Seoul, April 28 (IANS) Seoul stocks briefly topped the 6,700-point level on Tuesday, set to reach another milestone, driven by large-cap tech shares ahead of earnings releases from big US tech companies.The benchmark Korea Composite Stock Price Index (KOSPI) hit an intraday high of 6,712.73 points in the morning session, reports Yonhap news agency.The new peak came ahead of first-quarter earnings releases from the Magnificent 7 (M7) companies in the United States, including Apple, Microsoft and …
Seoul, April 20 (IANS) Seoul stocks were trading sharply higher late on Monday morning, despite concerns over renewed tensions between the United States and Iran in the Middle East.The benchmark Korea Composite Stock Price Index (KOSPI) gained 81.79 points, or 1.32 percent, to 6,273.71 as of 11:20 am (local time), reports Yonhap news agency.U.S. President Donald Trump has said the U.S. has seized an Iranian-flagged commercial vessel in the Gulf, as part of its naval blockade. Iran called such ac…
Seoul, April 16 (IANS) The Seoul government has submitted a formal opinion letter on the United States’ ongoing probes into South Korea and other nations involving what it calls “unfair” trade practices related to structural excess production and forced labour, officials said on Thursday.The letter was submitted by the Ministry of Trade, Industry and Resources to the office of the US Trade Representative (USTR) ahead of public hearings on the ongoing trade investigation scheduled to begin next m…
Seoul, April 10 (IANS) Seoul shares extended gains late on Friday morning, tracking overnight advances on Wall Street amid optimism over upcoming negotiations between the United States and Iran following their two-week ceasefire deal in the Middle East conflict.The benchmark Korea Composite Stock Price Index (KOSPI) rose 103.21 points, or 1.79 percent, to 5,881.22 as of 11:20 a.m.Overnight, the Dow Jones Industrial Average gained 0.58 percent, while the tech-heavy Nasdaq Composite advanced 0.83 …
Seoul, April 8 (IANS) South Korean stocks rose sharply higher late on Wednesday morning as the United States and Iran agreed on a two-week ceasefire and reopening the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) rose 326.12 points, or 5.94 percent, to 5,820.9 as of 11:20 am (local time), reports Yonhap news agency.The bourse operator activated a buy-side sidecar, temporarily halting program-driven buy orders in KOSPI futures earlier in the session.U.S. President Donal…
Seoul, April 6 (IANS) The South Korean won weakened against dollar on Monday after US President Donald Trump renewed threats to strike Iranian energy facilities and bridges if the Strait of Hormuz is not reopened, while setting a new deadline for action.The won closed at 1,506.3 per dollar, down 1.1 won from the previous session, reports Yonhap news agency.The local currency opened at 1,510.3 won on Monday, but some of the earlier losses were pared on news reports that the United States and Iran…
Seoul, April 3 (IANS) South Korean stocks rose nearly 2.5 per cent late on Friday morning as Iran is said to be working on a protocol with Oman to monitor traffic through the Strait of Hormuz, raising hopes for the reopening of the crucial shipping waterway.The benchmark Korea Composite Stock Price Index (KOSPI) rose 128.99 points, or 2.46 percent, to 5,363.0, reports Yonhap news agency.The index opened 2.7 percent higher, rebounding from a sharp decline the previous session, and maintained its …