Around the World's Markets: Seoul

SOUTH KOREAN stocks rose by over 4 per cent on average, with the Korea Composite Index closing 20.29 better at 520.06. Fears of labour troubles subsided after the moderate FKTU said it would delay until the end of March a decision on whether to withdraw from the tripartite panel representing unions, employers and the government.

Industrial output and falling interest rates also bolstered confidence. The banking sub-index rose more than 8 per cent.