Fitch cuts 2021 growth outlook for S. Korea to 4 pct
SEOUL, Sept. 17 (Yonhap) — Global credit appraiser Fitch Ratings said Friday it has cut its 2021 growth outlook for the South Korean economy to 4 percent due mainly to the latest surge in COVID-19 cases. The latest outlook is a 0.5 percentage-point drop from…
Seoul stocks open lower as investors test waters
SEOUL, Sept. 17 (Yonhap) — South Korean stocks opened lower Friday ahead of the holiday as investors weigh the pace of an economic recovery from the pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) fell 14.08 points, or 0.45 percent, to 3,116.01 points in…
Seoul stocks snap 4-day winning streak on tech losses
SEOUL, Sept. 16 (Yonhap) — South Korean stocks snapped a four-day winning streak Thursday, hit by losses in heavyweight technology stocks. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slumped 23.31 points, or 0.74 percent, to close…
Banks’ loan delinquency rate rises in July
SEOUL, Sept. 16 (Yonhap) — The delinquency rate for South Korean banks’ won-denominated loans rose in July due to an increase in overdue corporate loans, the financial regulator said Thursday. The rate for bank loans more than 30 days overdue stood at 0.27 percent at…
Samsung Heavy wins 841 bln won order for 6 container carriers
SEOUL, Sept. 16 (Yonhap) — Samsung Heavy Industries Co. said Thursday it has signed an 841 billion won (US$720 million) deal with a European company to build six container carriers. Under the deal, Samsung Heavy will deliver the vessels by November 2024, the shipbuilder said…
Seoul stocks open flat
SEOUL, Sept. 16 (Yonhap) — South Korean stocks opened flat Thursday amid easing concerns about a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.84 points, or 0.06 percent, to trade at 3,151.56 points in the first 15 minutes of trading.…
Seoul stocks up for 4th day on foreign buying
SEOUL, Sept. 15 (Yonhap) — South Korean stocks advanced for a fourth session Wednesday, supported by foreign buying, as some investors sought to digest the weak inflation data in the United States. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock…
Seoul stocks open higher on bargain hunting
SEOUL, Sept. 15 (Yonhap) — South Korean stocks opened higher Wednesday as bargain hunters sought oversold stocks on expectations of future price hikes. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.09 points, or 0.13 percent, to 3,152.92 points in the first 15 minutes…
Statistics agency opens English service of data platform on SDGs
SEOUL, Sept. 14 (Yonhap) — South Korea’s statistics agency said Tuesday it has launched the English service of the data platform on the country’s progress in achieving U.N. Sustainable Development Goals (SDGs). The SDGs data platform (https://kostat.go.kr/sdg/en) will help international users understand South Korea’s efforts…
BOK board members says rate hike warranted in light of financial imbalances: minutes
SEOUL, Sept. 14 (Yonhap) — Members of the central bank’s rate-setting board said growing risks from financial imbalances pointed to a need to conduct a rate hike without delay, minutes from the latest policy meeting showed Tuesday. In the policy meeting on Aug. 26, the…
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