South Korea's two leading carmakers Hyundai Motor Co. and Kia Motors Corp. said sales of eco-friendly vehicles shot up 2.5-fold in 2017, on strong consumer demand.The companies, flagship affiliates of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, said sales of conve

Sales of gold bars, regarded as a safe haven for investors, are increasing in South Korea amid escalating tension with North Korea, industry sources said Saturday.The Korea Gold Exchange, a local trader, said the average daily sales of 100-gram gold bars reached 250 units since Wednesday, rising sha

Hyundai Merchant Marine Co., South Korea's top shipping firm, said Friday that it continued to suffer an operating loss in the second quarter of the year due to still lower freight rates.Its operating loss reached 128 billion won (US$112 million) in the April-June period, the company said in a r

The governor of South Korea's central bank said Thursday that he has been closely watching North Korea risks as Pyongyang and Washington traded harsh rhetoric.BOK Gov. Lee Ju-yeol said he remained alert on economic and financial fallout the latest standoff over North Korea's nuclear and miss

Operating profits of companies listed on South Korea's benchmark KOSPI are expected to reach nearly 200 trillion won (US$177.6 billion) for 2017 amid the recent stock rally, a survey showed Sunday. Local brokerages forecast that KOSPI-listed firms will post a combined 193 trillion won in operati

South Korea's per capita gross domestic (GDP) is expected to edge past Italy's in 2018, the government predicted Sunday, based on growth forecast data.The prediction, if it is met, will place the country's per capita GDP at slightly more than US$30,000 and just over that of the European

South Korea's new trade chief pledged Friday to try to seek a balance with major trading partners over trade amid looming talks with the United States that could lead to an amendment of the existing free trade agreement (FTA).The bilateral open trade pact, which went into effect in 2012, has wid

President Moon Jae-in promised to continue holding frequent discussions with the country's top business leaders on issues that may affect their business, noting the country's growth as well as the success of his administration may depend on them, an official from the presidential office Cheo

SEOUL, July 26 (Yonhap) -- South Korea will lower the maximum legal lending rate to 24 percent from next year and strengthen supervision of private lenders, in a move to help ease financial burdens for desperate borrowers, the nation's top financial regulator said Wednesday.Choi Jong-ku, the new

'At the moment wastewater treatment process is known to be requiring electricity or other monetary resources,' says Mr. Dong-woo Kim, CEO of BKT Co., Ltd.. 'But BKT changed this stereotype by converting organic matter in the wastewater into energy and thus making money.' As a result

South Korean banks posted surprisingly good first half earnings on the back of an economic recovery and an uptick in interest rate, industry data showed Sunday, stirring up concerns over their bonus plans amid ballooning household debt.According to the data, the country's four biggest banking gr

President Moon Jae-in nominated an incumbent ruling party lawmaker as labor minister on Sunday after his previous pick withdrew amid strong objection from opposition parties.Rep. Kim Young-joo of the ruling Democratic Party was nominated to lead the labor ministry, according to presidential spokesma

South Korea's car exports to the United States have declined, rather than increased, after the two countries abolished import taxes last year as part of their free trade agreement, data showed Sunday,The Korea Automobile Manufacturers Association (KAMA) published the analysis that rebuts a wides

South Korea's central bank said Sunday that the face value of damaged banknotes and coins that were destroyed rose 6.8 percent in the first half of the year from six months earlier.The face value of the damaged banknotes and coins exchanged at local banks, including the Bank of Korea, came to 1.

South Korea's corporate lobbies on Sunday expressed concerns over a decision to hike the minimum wage for next year, saying it could worsen business conditions and hamper job creation.A panel representing the government, labor and management decided Saturday to increase the minimum hourly wage t

Consumer sentiment among low-income earners have deteriorated despite upbeat forecasts fueled by strong exports and public expectations that the new Moon Jae-in administration will help propel growth, official data showed Sunday.According to findings by the Bank of Korea (BOK), the consumer sentimen

South Korea's trade surplus of auto parts decreased on-year in the January-May period, data showed Saturday, apparently due to sluggish sales of local vehicles overseas.According to the data compiled by the Korea International Trade Association, the country's surplus of parts came to US$7.5

Ambassador Myrat Mammetalyyev of Turkmenistan in Seoul said, “Turkmenistan and the Republic of Korea are countries that have a rich cultural heritage, the people of which have been able to preserve national traditions and customs.” Speaking at a seminar at the Hanyang University in Seoul on May 16,

The U.S. Federal Reserve raised key interest rates by 0.25 percentage point Wednesday, and said it plans to reduce its securities holdings, a move that could spur rates to rise further.The Fed raised the target range for the federal funds rate from 1 to 1.25 percent, a level that's on par with S

The diplomatic row between Seoul and Beijing over the deployment of the U.S. anti-missile system in the country that hurt sales of South Korean cars in China has benefited Japanese automakers, data showed Sunday.Numbers provided by local carmakers and the China Passenger Car Association showed that