Korean Won Declines to Near the Lowest in a Month as Investors Reduce Risk

(Bloomberg) -- The South Korean won fell, approaching
the lowest in more than a month, on speculation investors are
cutting investments in Asia as signs mount that the U.S. economy
is slowing.

Korea's currency and the benchmark stock index extended two
weeks of losses as reports Aug. 3 showed U.S. employers added
fewer jobs in July and service industries growth slowed. The Bank
of Korea the same day said it will restrict companies from
borrowing in foreign currencies to stem gains in the won that
threaten exporter's profits.


Read more at Bloomberg Currencies News

South Korea's Kospi Index Falls, Led by Samsung, Posco and Kookmin Bank

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 2.41 percent at 9:05 a.m.

The index of 733 companies traded on the Korea Exchange
fell 45.19 to 1,831.61. Among the stocks in the index, 88 rose,
566 fell and 79 were unchanged.


Read more at Bloomberg Stocks News

Kookmin Bank's Second-Quarter Profit Plunges to $256 Million on Back Taxes

(Bloomberg) -- Kookmin Bank, South Korea's largest,
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.

Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.


Read more at Bloomberg Emerging Markets News

Doosan Infracore to Acquire Ingersoll-Rand's Bobcat Unit for $4.9 Billion

(Bloomberg) -- Doosan Infracore Co., South Korea's
largest maker of construction machinery, agreed to buy Ingersoll-
Rand Co.'s Bobcat and other units for $4.9 billion, the biggest
overseas acquisition by a South Korean company.

The company will buy the Bobcat compact-equipment unit,
and the Utility Equipment and Attachments divisions, Incheon,
South Korea-based Doosan Infracore said in an e-mailed statement
today. Ingersoll-Rand has its headquarters in Bermuda.


Read more at Bloomberg Emerging Markets News

South Korea's Kospi Falls From a Record; Samsung Drops Most in Three Years

(Bloomberg) -- South Korean stocks fell on concern
a rally that's made the Kospi index the world's best performer
this month more than reflected earnings prospects. Samsung
Electronics Co. led the retreat, sliding the most in three years.

``Tech stocks are pulling back because people are taking
profit on the recent jumps, not because there's a problem with
their fundamentals,'' said Jeon Jeong Woo, who manages $540
million at Daehan Investment Trust Management Co. in Seoul.


Read more at Bloomberg Stocks News

Bank of America Earnings Trail as Citigroup, JPMorgan, Merrill Go Abroad

(Bloomberg) -- Bank of America Corp. does more
business in the U.S. than any of its competitors, and that's
eroding returns for shareholders of the Charlotte, North
Carolina-based company.

Demand for financial services is increasing three times as
fast outside the U.S., fueled by companies and investors in
Brazil, China, India and Russia. While Bank of America operates
in 45 countries, they produce only 13 percent of its revenue.
That's puny compared with Citigroup Inc., which derives almost
half its sales from abroad and ranks among the biggest banks in
Mexico, Poland and South Korea.


Read more at Bloomberg Currencies News

South Korea, EU to Seek Progress on Free-Trade Agreement as WTO Hopes Fade

(Bloomberg) -- South Korea and the European Union
aim to move closer this week to a free-trade agreement that would
strengthen their 61 billion-euro ($84 billion) relationship while
creating jobs and fueling economic growth.

The EU wants greater access to South Korea's markets for
cars, pharmaceuticals, cosmetics, chemicals and machinery. South
Korea wants EU duties slashed on electronics and auto parts, and
more access to audio-visual industries such as broadcasting and
films. An agreement, which may come within a year, follows on the
heels of a U.S.-South Korea free-trade accord, or FTA.


Read more at Bloomberg Emerging Markets News

South Korean Won May Drop on Concern Central Bank Will Sell Its Currency

(Bloomberg) -- South Korea's won may fall for the
first time in five days on concern the central bank will sell it
to prevent the currency's advance to a seven-month high from
eroding exporters' profits.

A stronger won reduces the foreign-exchange earnings Korean
exporters get from their dollar revenue. Finance Minister Kwon
Okyu on July 9 said authorities will ``actively respond'' to
gains in the won when necessary.


Read more at Bloomberg Currencies News

Kia Motors, Kookmin, LG.Philips, Samsung SDI: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the July 13 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index rose 2.8 percent to a record 1962.93. The
Kosdaq declined 0.3 percent to 825.40. Kospi 200 futures expiring
in September added 3.5 percent to 252.65, while the underlying
index gained 3 percent to 250.19.


Read more at Bloomberg Stocks News

Daewoo Shipbuilding, Dongkuk Steel Mill, NCsoft: South Korea Stock Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index retreated 0.2 percent to 1889.96. The Kosdaq
rose 0.6 percent to 820.02. Kospi 200 futures expiring in
September lost 0.6 percent to 240.85, while the underlying index
slipped 0.2 percent to 240.46.


Read more at Bloomberg Stocks News

Morgan Stanley to buy $1 bln Seoul office building

(Reuters) - Morgan Stanley's real estate investment fund, AHI Holding B.V., beat other bidders including Australia's Macquarie Bank Ltd. and South Korea's Kookmin Bank in the race for the Daewoo building, located in the heart of downtown Seoul.






Read more at Reuters.com Mergers News

South Korea's Kospi Index Advances; Chipmakers Rise, LG Household Falls

(Bloomberg) -- South Korean stocks advanced for a
sixth day. Samsung Electronics Co. and Hynix Semiconductor Inc.
rose after chipmakers raised prices of computer memory.

LG Household & Health Care Ltd. fell after the company said
it's in exclusive talks to buy Coca-Cola Amatil Ltd.'s bottling
unit in Korea for as much as A$545 million ($467 million).


Read more at Bloomberg Stocks News

Cattle Gain Most in Nearly Four Months on Asian Beef Demand; Hogs Decline

(Bloomberg) -- Cattle futures rose the most in almost
four months as a weekly export sales report indicated strong
demand for U.S. beef. Hog prices fell.

U.S. exporters reported net sales of 11,300 metric tons of
beef for the week ended June 28, including 1,300 tons for Japan
and South Korea, according to the U.S. Department of Agriculture.
Exports to those two nations, largely closed to U.S. beef since
December 2003 over mad-cow disease concerns, indicate longer-term
demand, said Troy Vetterkind, a trader at e-Hedger in Chicago.


Read more at Bloomberg Commodities News

South Korean Stocks Gain More Than 1 Percent for Fourth Day; Samsung Gains

(Bloomberg) -- South Korean stocks advanced more than
1 percent for a fourth day. Samsung Electronics Co. gained on
speculation prices for dynamic random access memory, or DRAM,
will rise, helping improve earnings.

LG.Philips LCD Co. advanced after brokerages including
Citigroup Inc. said the company will turn to profit in the second
quarter.


Read more at Bloomberg Stocks News

South Korean Won Strengthens on Speculation Interest Rates Will Increase

(Bloomberg) -- The South Korean won rose, approaching
the highest this year, on speculation the central bank will raise
interest rates, boosting the appeal of fixed-income assets.

The won, the best performer in the past month of the 10
most-traded Asian currencies, also gained as Finance Minister
Kwon Okyu said today monetary policy should be aimed at
``controlling liquidity'' because prices may rise. The won added
almost 9 percent last year as the central bank raised rates three
times to 4.5 percent. It has left policy unchanged this year.


Read more at Bloomberg Currencies News

Hyundai Engineering, Kumho, LG.Philips LCD: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index advanced 1.8 percent to a record 1838.41. The
Kosdaq added 0.9 percent to 804.02. Kospi 200 futures expiring in
September rose 1.7 percent to 234.90, while the underlying index
climbed 1.8 percent to 233.43.


Read more at Bloomberg Stocks News

South Korean Won Rises as Export Growth Quickens; Government Bonds Advance

(Bloomberg) -- South Korea's won had its highest
close since Dec. 14 on speculation growth in Asia's third-
largest economy will accelerate, helped by rising exports.
Government bonds declined.

The won gained for a third day as a government report today
showed exports, which account for about 40 percent of the
economy, grew faster than expected in June. The finance minister
said improving overseas sales will help drive a quicker economic
expansion in the next six months. The currency touched the
highest in almost 10 years against the yen on June 22 and is
trading within 0.3 percent of that level today.


Read more at Bloomberg Currencies News

South Korean Won Advances as Export Growth Quickens; Bonds Little Changed

(Bloomberg) -- South Korea's won rose to the highest
since May 8 on speculation growth in Asia's third-largest
economy will accelerate, helped by rising exports. Government
bonds were little changed.

The won gained for a third day as a government report today
showed exports, which account for about 40 percent of the
economy, grew faster than expected in June. The currency touched
the highest in almost 10 years against the yen on June 22 and is
trading within 0.2 percent of that level today.


Read more at Bloomberg Bonds News

Exporters, Korea Gas Corp., LG.Philips LCD: South Korea's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the June 29 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index declined 0.5 percent to 1743.60. The Kosdaq
was little changed at 778.69. Kospi 200 futures expiring in
September slipped 0.9 percent to 221.80, while the underlying
index lost 0.6 percent to 221.31.


Read more at Bloomberg Stocks News

South Korea Won Climbs as Consumers More Confident; Government Bonds Drop

(Bloomberg) -- The South Korean won climbed after a
central bank report showed consumers were the most optimistic in
15 months in the second quarter. Bonds declined before a
government auction of debt today.

Growth in Korea's gross domestic product is likely to
strengthen ``gradually'' over the rest of 2007 as domestic
demand picks up, the Organization for Economic Cooperation and
Development said June 20. The won rose to a one-month high June
20, two days after the finance ministry said consumers are
supporting the expansion in Asia's third-largest economy.


Read more at Bloomberg Bonds News