Seoul stocks hit 7-week low on inflation risk

South Korean stocks dropped to their lowest in almost seven weeks on Monday as investors dumped holdings on concerns about mounting inflationary pressure. The Korean won fell against the U.S.…

Korea Shipbuilding bags cargo ship orders valued at combined 511 bln won

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has secured 511 billion won (US$428.4 million) in orders to build five cargo vessels. Under the two separate deals, KSOE…

Moon leaves for UAE for economic diplomacy on Middle East swing

SEOUL, President Moon Jae-in left for the United Arab Emirates (UAE) on Saturday for talks with UAE leaders as South Korea seeks to explore business opportunities with the Middle East…

LG Energy Solution to raise 12.75 tln won in S. Korea’s largest-ever IPO

SEOUL– South Korean battery maker LG Energy Solution Ltd. (LGES) is expected to raise 12.75 trillion won (US$10.7 billion) this month in what will be the country’s largest-ever initial public offering (IPO).LGES said in a regulatory filing Friday it s…

Seoul to invest 345.9 bln won in metaverse, other digitization projects in 2022

SEOUL– The Seoul city government said Thursday it will invest a total of 345.9 billion won (US$291.4 million) this year in projects harnessing such cutting-edge digitization technologies as metaverse, big…

Moon calls for measures with excess tax revenue to help small merchants, self-employed

SEOUL– President Moon Jae-in on Thursday ordered aides to come up with measures using excess tax revenue to help small merchants and self-employed people suffering from the economic fallout of…

Seoul stocks down late Thur. morning on U.S. inflation woes

SEOUL– South Korean stocks traded bearish late Thursday morning as investors digest high-flying inflation in the United States, which could hasten the Federal Reserve’s tapering move. The benchmark Korea Composite…

Aramco Oil Pipelines investors expected to raise $3.5-4.4 bln via bonds

A group of institutional investors that last year took a stake in Saudi Aramco’s oil pipelines network is expected to raise between $3.5 billion and $4.4 billion via a sale…

Banks’ household loans dip in Dec. amid rate hike, tight lending rules

SEOUL– South Korean banks’ household loans declined in December due to the central bank’s rate hike and tight lending rules, data from the Bank of Korea (BOK) showed Thursday. Outstanding…

Delinquency ratio on banks’ loans edges up in November

SEOUL– The delinquency ratio on loans extended by banks in South Korea inched up in November from a month earlier, the financial watchdog said Thursday. The rate for banks’ won-denominated…