Tag: korean news

  • Korean economy facing increasing risks from outside

    Korean economy facing increasing risks from outside

    The South Korean economy, internally constrained by sluggish consumption and investment, is also surrounded by growing external risks. The export-driven economy, in particular, is significantly dependent on its two biggest trading partners, the US and China. While the US is expected to have a new president after Tuesday’s election, in which both presidential candidates are […]

  • Samsung BioLogics to begin IPO process this week

    Samsung BioLogics to begin IPO process this week

    Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday. The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under […]

  • First gold comes from men's archery; Judoka takes surprise silver

    First gold comes from men's archery; Judoka takes surprise silver

    South Korea wasted little time picking up its first gold of the Rio de Janeiro Olympics, as the men’s archery team came out on top on the first day of the competition Saturday. The trio of Kim Woo-jin, Ku Bon-chan and Lee Seung-yun defeated the United States team of Brady Ellison, Zach Garrett and Jake […]

  • Korean exporters still face growing protectionism

    Korean exporters still face growing protectionism

    South Korean companies are confronted with growing trade barriers in overseas markets as major economies toughen import rules amid a protracted economic slowdown, industry sources said Wednesday. As of the end of July, South Korean products were affected by 179 anti-dumping measures, safeguards and other import regulations worldwide, according to the sources and the state-run […]

  • Korea's e-commerce exports up 83% in Q2

    Korea's e-commerce exports up 83% in Q2

    South Koreans’ direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday. Koreans’ direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won ($369.3 million) during the April-June period, up 5 percent […]

  • Seoul city starts providing allowances to young job seekers

    Seoul city starts providing allowances to young job seekers

    The Seoul city government started a controversial program that provides allowances to thousands of young job seekers Wednesday, which it said aims to help people maintain basic living standards while they try to find work. The Seoul Metropolitan Government said it has selected a total of 3,000 applicants and will provide them with 500,000 won […]

  • Korea's homegrown drug set to post record sales

    Korea's homegrown drug set to post record sales

    Annual sales of a diabetes drug manufactured by LG Life Sciences Ltd., the pharmaceuticals unit of South Korea’s LG Group, are likely to exceed 50 billion won ($44.9 million) this year, the drug firm said Wednesday. It would mark the first time for the annual sales of a single homegrown drug to breach the 50 […]

  • Korea faces rising protectionism

    Korea faces rising protectionism

    In a meeting of government officials and corporate executives convened last week to discuss how to boost exports, Trade Minister Joo Hyung-hwan called for strengthened efforts to put an end to a record streak of on-year monthly declines in Korea’s outbound shipments since the start of last year. He saw August as a crucial period […]

  • Seoul shares open higher on Wall Street gains

    Seoul shares open higher on Wall Street gains

    South Korean stocks opened higher Monday, taking its cue from gains in Wall Street. The benchmark Korea Composite Stock Price Index added 10.32 points, or 0.51 percent, to 2,026.51 in the first 15 minutes of trading. Tech shares led the gains. Market kingpin Samsung Electronics surged 2.14 percent, continuing its rally after posting robust second-quarter earnings, […]

  • Korean shares up in late morning trading

    Korean shares up in late morning trading

    South Korean shares traded 0.67 percent up in late Monday morning as strong foreign buying boosted local shares. The benchmark Korea Composite Stock Price Index scored 13.43 points to 2,029.62 as of 11:20 a.m. Tech shares led the gains. Market kingpin Samsung Electronics surged 2.14 percent, continuing its rally after posting robust second-quarter earnings, and […]