Seoul, June 22 (IANS) South Korea’s exports jumped 60.4 per cent from a year earlier in the first 20 days of June, data showed on Monday, setting a new fresh high for the period amid robust shipments of semiconductors.Outbound shipments reached US$62 billion in the June 1-20 period, compared with $38.6 billion tallied in the same period last year, according to the data from the Korea Customs Service, reports Yonhap news agency.It marked the highest 20-day figure on record, surpassing the previou…
Latest Korea Composite Stock Price Index News & Updates
Seoul, June 19 (IANS) Seoul stocks traded sharply higher on Friday, buoyed by chips and other tech heavyweights, after topping the historic 9,000 landmark the previous session.The benchmark Korea Composite Stock Price Index (KOSPI) rose 200.67 points, or 2.21 percent, to 9,264.51, as of 11:20 a.m., after peaking above 9,300 at one point, reports Yonhap news agency.The index followed gains on Wall Street overnight, lead by major chipmakers, including Intel. The U.S. semiconductor company jumped a…
Seoul, June 12 (IANS) Banks are fast moving to rein in a surge in credit loans as customers have borrowed money to buy stocks, financial sources said on Friday.According to various sources, Hana, Shinhan and other major lenders have tightened criteria and limits on credit loans in the face of pressure from the country’s financial authorities, reports Yonhap news agency.The measure came as household loans extended by banks rose at the fastest pace in nearly two years in May as lending linked to s…
Seoul, June 12 (IANS) Seoul stocks were trading sharply higher on Friday morning as US President Donald Trump fuelled hopes for an end to the Iran war.The benchmark Korea Composite Stock Price Index (KOSPI) was trading up 606.46 points, or 7.81 percent, to 8,370.41, as of 11:20 am, reports Yonhap news agency.After opening sharply higher, the index is remaining above the 8,000-point mark, as institutional and foreign investors snapped up blue chip tech stocks.On Thursday (U.S. time) President Tru…
Seoul, June 8 (IANS) Loans extended to companies in South Korea grew at the fastest pace in 3 and a half years in the first quarter compared with the previous three-month period, driven by strong demand from the service sector, central bank data showed on Monday.Outstanding loans to local companies reached 2,061.8 trillion won (US$1.33 trillion) as of end-March, up 35.6 trillion won from the fourth quarter of 2025, according to data from the Bank of Korea (BOK).The increase marked the largest on…
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…
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…