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  • Policy

    MSCI cites improved access to Korea-linked investment products ahead of review

    Morgan Stanley Capital International (MSCI) said Friday that the Korean financial market has improved in terms of the availability of investment instruments ahead of next week's annual market classification review, while noting that underlying accessibility issues remain unresolved. "Derivative products linked to Korean indexes have recently been listed on international exchanges," it wrote in its 2026 global market accessibility review, upgrading its assessment from minus to plus. A plus rating means there are no major issues, though there is still room for improvement. MSCI said some restrictions remain in Korea on the use of exchange data for the creation of financial products. The Korean market received minus ratings in six of the 18 assessment categories last year. But this year, as the availability of investment instruments category was upgraded to plus, the number of minus-rated categories fell to five: the foreign exchange market liberalization level, investor registration and account setup, information flow, clearing and settlement, and transferability. "Authorities have continu

    2 MIN READBy Lee Yeon-woo
    MSCI cites improved access to Korea-linked investment products ahead of review
  • Economy

    KOSPI slips from record high amid US-Iran uncertainty

    2 MIN READBy Lee Yeon-woo
    KOSPI slips from record high amid US-Iran uncertainty
  • Economy

    Gov't to expand supply of imported eggs amid price hikes

    1 MIN READBy Yonhap
    Gov't to expand supply of imported eggs amid price hikes
  • Economy

    Seoul stocks sharply up late Friday morning on chip rally

    1 MIN READBy Yonhap
    Seoul stocks sharply up late Friday morning on chip rally
  • Economy

    US-Iran MOU poses new opportunities, challenges for Korea: finance minister

    2 MIN READBy Yonhap
    US-Iran MOU poses new opportunities, challenges for Korea: finance minister
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Economy

Foreign investment in Korea spikes 5,000 times in 60 years: data

gettyimagesbankForeign direct investment (FDI) pledged to the country has surged more than 5,000 times in 60 years, which helped play a key pillar of now Asia's fourth-largest economy, the industry ministry said Tuesday.In 1962, a local carmaker reported receiving $3 million in foreign investment, the first of its kind for the country, and the total FDI amount that year stood at $4 million, according to the Ministry of Trade, Industry and Energy.The foreign investment then spiked drastically to come to $20.75 billion last year, and the figure for the first nine months of this year stood at $18.2 billion, the ministry said, releasing the data to mark Foreign Company Day.Currently, foreigner-invested firms account for 19.4 percent of the country's total exports, or $117.4 billion, and 5 percent of the total employment, or 740,000 workers, the data showed."The government will create an advanced investment ecosystem, boost communications with foreign investors and step up efforts for deregulation to make South Korea a stable and attractive investment destination," Trade Minister Yeo Han-

Nov 2, 2021
Foreign investment in Korea spikes 5,000 times in 60 years: data
Economy

Kakao Pay to get listed on Wednesday

An investor speaks with a brokerage worker ahead of the Kakao Pay's IPO at the Korea Investment & Securities branch on Yeouido, Seoul, Oct. 25. /YonhapKakao Pay, the mobile payment service arm of Kakao, South Korea's top messenger app, will make its market debut on Wednesday, the country's bourse operator said Monday.Kakao Pay has set the IPO price at 90,000 won ($76.50) per share, which will enable the company to raise 1.53 trillion won through the initial public offering (IPO).Kakao Pay's market capitalization is expected to reach 11.7 trillion won after its market debut, which would rank the fintech firm among the top 30 market caps.Late last month, Kakao Pay drew a total of 5.66 trillion won in deposit for IPO subscription from retail investors.Kakao Pay branched off from the parent Kakao in 2017. Its current services include mobile payment, remittance, insurance and loans.Kakao Pay is South Korea's top mobile payment service company with a membership of more than 20 million as of end-June.The company logged a net loss of 17.2 billion won last year on sales of 246 billion won

Nov 2, 2021
Kakao Pay to get listed on Wednesday
Economy

Inflation growth hits near 10-year high in October

gettyimagesbankSouth Korea's consumer prices grew at the fastest clip in almost a decade in October due to last year's low base effect and surging oil prices, data showed Tuesday, underscoring a build-up in inflationary pressure amid the economic recovery.The consumer prices rose 3.2 percent in October from a year earlier, accelerating from a 2.5 percent on-year gain in September, according to the data compiled by Statistics Korea.Compared with a month earlier, consumer inflation inched up 0.1 percent.It marked the fastest on-year gain since January 2012, when consumer prices grew 3.3 percent. The on-year growth of inflation also rose to the 3 percent range for the first time since February 2012.In October, the consumer prices grew more than 2 percent ― the central bank's midterm inflation target ― for the seventh consecutive month. The pickup in inflation was mainly attributable to the base effect from last year's one-off state subsidies for mobile phone bills and rising oil prices.The government provided 20,000 won ($17) per person in specific groups in October 2020 to help them co

Nov 2, 2021
Inflation growth hits near 10-year high in October
Economy

ANALYSIS Bond market sees fluctuation as election race heats up

A currency trader watches computer monitors near screens showing figures for the Kosdaq, lower left, and foreign exchange rates, in a foreign exchange dealing room in Seoul, in this file photo. AP-YonhapForeign investors selling government bond futures By Kim Yoo-chulThe country's bond market will see a continued fluctuation in terms of yields as the presidential election race in Korea heats up.Investor sentiment in the local bond market already isn't that favorable, as recently released inflation data sent bond yields lower. The Bank of Korea (BOK) is also set to raise its benchmark interest rate by an additional 25 basis points at its planned November monetary policy meeting. With the country's inflation growth having risen to the bank's earlier target of 2 percent, bond market participants were saying that investors will sell off their bond holdings in Korea at an accelerated pace.As a partial remedy to stabilize the bond market, the BOK and other financial authorities said they will reduce the amount of issuances for monetary stabilization, and added they will purchase more bonds

Nov 1, 2021By Kim Yoo-chul
[ANALYSIS] Bond market sees fluctuation as election race heats up
Economy

KSD supports transparent investments in non-marketable assets

Korea Securities Depository (KSD) Senior Manager Kim Yong-chang introduces the depository's platform supporting investments in non-marketable assets, at GLAD Yeouido in Seoul in this June 28 file photo. Courtesy of KSDMore than 200 companies were using the Korea Securities Depository (KSD) platform that supports investments in non-marketable assets, as of August, data compiled by the state-run securities depository showed Monday.Specifically, 201 asset management firms, 16 trust companies and eight other companies were using the platform. They registered a combined 3,147 assets that are difficult to trade on major exchanges.The KSD opened the platform June 28 to prevent the recurrence of “mis-selling” by private equity funds, which led domestic retail investors to suffer significant losses. Mis-selling refers to the deliberate misrepresentation of a financial product or misleading customers about the nature of the product.“Due to the sluggish economic growth, low interest rates and a government policy to encourage venture funds, the private equity industry has shown

Nov 1, 2021
KSD supports transparent investments in non-marketable assets
Economy

Korea Exchange recommends investing in REITs

The Korea Exchange (KRX) building in Seoul / Courtesy of the KRXBy Park Jae-hyukInvesting in real estate investment trusts (REITs) has emerged as a good alternative for domestic investors, amid the continued horizontal price movement in the local stock market, according to the Korea Exchange (KRX), Monday.SK REIT, for example, drew attention from investors at the time of its listing on the benchmark KOSPI market in September. The attention was mainly attributed to a growing number of investors focusing on REITs or investing in them after witnessing the lackluster performance of the stock market.“Korea's listed REITs market has continued to draw attention from investors,” a KRX official said. “We hope the listed REITs market, which is continuing to grow quantitatively and qualitatively, becomes a new alternative for investors confused with the flat stock market and those seeking stable dividend incomes.”REITs refer to companies that raise funds from investors, make investments in real estate or real estate-linked securities and distribute their earnings to the

Nov 1, 2021By Park Jae-hyuk
Korea Exchange recommends investing in REITs
Economy

IBK Capital expands child welfare support

IBK Capital CEO Choi Hyun-sook, left, poses with Holt Children's Services Chairwoman Lee Soo-yeon after donating 55 million won ($46,000) to provide more food to needy adopted children in Korea. The humanitarian organization plans to expand its welfare projects by giving more baby food to those in need. Courtesy of IBK Capital

Nov 1, 2021By Lee Min-hyung
IBK Capital expands child welfare support
Economy

Exports up 24% on-year in Oct. to second-largest monthly figure of $55.55 billion

gettyimagesbankSouth Korea's exports spiked 24 percent in October from a year earlier to reach the second-largest monthly figure of $55.55 billion on the back of strong global demand for chips and petroproducts, data showed Monday.Outbound shipment is just shy of the record monthly figure of $55.83 billion reported the previous month, according to the data compiled by the Ministry of Trade, Industry and Energy. It marked the 12th consecutive months that the country's exports have extended gains.Imports surged 37.9 percent on-year to $53.86 billion, resulting in a trade surplus of $1.69 billion. It marked the 18th consecutive month that the country's exports exceeded imports, according to the ministry. (Yonhap)

Nov 1, 2021
Exports up 24% on-year in Oct. to second-largest monthly figure of $55.55 billion
  • October's inflation growth estimated at 3.2%: poll
Economy

October's inflation growth estimated at 3.2%: poll

A shopper picks milk from shelves of dairy products at a large discount store in Seoul, Oct. 1. YonhapSouth Korea's consumer prices are estimated to have grown more than 3 percent for the first time in nearly 10 years in October due to last year's low base and surging oil prices, a poll showed Monday.The country's consumer inflation is projected to have risen 3.2 percent in October from a year earlier, accelerating from a 2.5 percent on-year gain in September, according to the poll on six brokerage houses.If the forecast is right, the inflation rate will stay in the 3 percent range for the first time since February 2012.Experts said the pickup in inflation is mainly attributable to the base effect from last year's one-off state subsidies for mobile phone bills, and rising oil prices.Consumer prices inched up 0.1 percent on-year in October 2020 as the government provided 20,000 won (US$17) each to people in specific age groups to help them cover mobile phone fees amid the pandemic."Last year's low base, a hike in energy costs and a surge in prices of farm products probably raised the

Nov 1, 2021
October's inflation growth estimated at 3.2%: poll
  • Exports up 24% on-year in Oct. to second-largest monthly figure of $55.55 billion
Economy

KB outperforms Shinhan in 3Q earnings

Shinhan Financial Group Chairman Cho Yong-byoung. Korea Times fileBy Lee Kyung-min KB Financial Group reclaimed the top position among financial firms here in the third quarter in terms of earnings, buoyed by the robust performance of its non-banking businesses. Rival Shinhan Financial Group, which was the top-performer in the previous quarter, slid to second place.KB beat Shinhan in the first half of this year, but fell about 40 billion won behind in the April-June period. However, in the third quarter, KB outperformed Shinhan both in cumulative and quarterly net income.Shinhan's net income in the July-September period of this year was over 1.11 trillion won ($948 million), but down 2.5 percent from a year earlier. Cumulative net profit in the first nine months was over 3.55 trillion won, up 20.7 percent from a year earlier. KB logged a net profit of 1.29 trillion won in the third quarter of this year, with its cumulative net income in the first nine months standing at 3.77 trillion.The performance of the group's banking subsidiaries reported an over 20 percent year-on-year increase

Nov 1, 2021By Lee Kyung-min
KB outperforms Shinhan in 3Q earnings
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