Seoul stocks sharply rebound on dip-buying, ahead of Biden visitMarketsMay 20, 2022South Korean shares advanced Friday as investors scooped up oversold stocks and pinned hopes for expanded business ties between South Korea and the United States. The Korean won steeply rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.95 points, or 1.81 percent, to close at 2,639.29 points. After a volatile week from high inflation, the key stock index gained 1.35 percent from a week ago. Friday’s trading volume was moderate at about 743 million s

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• Producer prices up for 4th month in April on energy, raw material price hikesEconomyMay 20, 2022South Korea’s producer prices grew for the fourth straight month in April as hikes in energy and raw material prices drove up costs of manufacturing products, central bank data showed Friday. The producer price index, a major barometer of consumer inflation, stood at 118.02 in April, up 1.1 percent from a revised 116.70 tallied a month earlier, according to the preliminary data from the Bank of Korea (BOK). From a year earlier, the index jumped 9.2 percent, faster than the previous month�