Category: Business

OECD ups 2021 growth outlook for S. Korean economy to 4 pct

SEOUL– The Organization for Economic Cooperation and Development (OECD) on Tuesday raised its 2021 growth outlook for the South Korean economy to 4 percent, amid the country’s strong exports and fiscal support.The latest outlook is a 0.2 percentage-po…

Fitch cuts 2021 growth outlook for S. Korea to 4 pct

SEOUL– 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 its earlier e…

Bank union set to hold strike in Oct. over wage hike

SEOUL– A labor union of South Korean bank workers said Friday it will stage a strike in mid-October over failed wage negotiations with the management.The Korean Financial Industry Union (KFIU), the nation’s major umbrella union for bank workers, said …

Seoul stocks trade nearly flat late Fri. morning ahead Chuseok

SEOUL– South Korean stocks traded nearly flat late Friday morning ahead of the holiday as investors weighed the pace of an economic recovery from the pandemic.The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.93 points, or 0.03 percen…

Seoul stocks rebound ahead of Chuseok holiday

SEOUL– South Korean stocks closed higher Friday ahead of a three-day holiday as investors weighed the pace of the economic recovery from the pandemic. The Korean won fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) …

Hyundai Heavy makes strong market debut

SEOUL– Hyundai Heavy Industries Co. closed 86 percent higher from its initial public offering (IPO) price, backed by foreign and retail investors.Hyundai Heavy closed at 111,500 won (US$947) after reaching an intraday high of 135,000 won, 86 percent h…

S. Korean Bond Yields on Sep. 17, 2021

Today (%) Previous Session(%) Change (BP)1-year TB 1.082 1.078 +0.42-year TB 1.402 1.394 +0.83-year TB 1.535 1.510 +2.510-year TB 2.068 2.043 +2.52-year MSB 1.381 1.364 +1.73-year CB (AA-) 1.978 1.958 +2.091-day CD 1.010 1.010 0.0Source: Yonhap News Ag…

NCT 127 drops 3rd studio album ‘Sticker’

SEOUL– K-pop boy band NCT 127 released their third studio album “Sticker” Friday, offering a mix of genres from hip-hop and R&B to pop and dance in a total of 11 tracks.In an online press conference ahead of the release, the nine-piece…

Enzychem Lifesciences to raise 316.4 bln won via stock sale

SEOUL– Enzychem Lifesciences Corp.on Friday announced that it will sell stocks to raise 316.4 billion won(US$269.3 million). The proceeds from the stock offering will be used primarily to pay off its debts.According to a regulatory filing, the company…

S. Korean Bond Yields on Sep. 16, 2021

Today (%) Previous Session(%) Change (BP)1-year TB 1.078 1.073 +0.52-year TB 1.394 1.367 +2.73-year TB 1.510 1.492 +1.810-year TB 2.043 2.025 +1.82-year MSB 1.364 1.357 +0.73-year CB (AA-) 1.958 1.942 +1.691-day CD 1.010 1.010 0.0Source: Yonhap News Ag…

Seoul stocks snap 4-day winning streak on tech losses

SEOUL– 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 pe…