Finance & Economy Archives | Be Korea-savvy

Archive by category Finance & Economy

Investment Banks Raise South Korea’s Investment Ratings

Investment Banks Raise South Korea’s Investment Ratings

SEOUL, May 24 (Korea Bizwire) – Global investment banks (IBs) have upgraded their investment ratings on South Korean stocks and hiked targets of its benchmark stock index on expectations for higher corporate earnings and other positives, a report showed Wednesday.  Among seven major foreign IBs, UBS, Nomura, Citi, Credit Suisse and Bank of America Merill [...]

S. Korean Stocks Reach Record High of 2,304 Fueled by Foreign Buying

S. Korean Stocks Reach Record High of 2,304 Fueled by Foreign Buying

SEOUL, May 22 (Korea Bizwire) – South Korean shares breached the 2,300-point mark for the first time ever as foreign investors scooped up major tech stocks amid sound corporate earnings, bucking overnight gains on Wall Street, analysts said. The Korean won sharply rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) [...]

Local Businesses Welcome Thaw Between South Korea, China

Local Businesses Welcome Thaw Between South Korea, China

SEOUL, May 22 (Korea Bizwire) – A thaw in deadlocked relations between South Korea and China over the deployment of an advanced U.S. ballistic missile defense system is showing signs of resuscitating vitality in exchanges in the public and private sectors between the two countries. Strained bilateral relations look somewhat mitigated of late as newly elected South Korean President Moon Jae-in is actively trying [...]

Asset Size of S. Korea’s Top 4 Biz Groups Expands 30 pct in 5 yrs

Asset Size of S. Korea’s Top 4 Biz Groups Expands 30 pct in 5 yrs

SEOUL, May 22 (Korea Bizwire) — Asset size of South Korea’s top four business conglomerates grew by more than 30 percent over the past five years, a corporate information provider said Sunday. Data provided by Chaebul.com showed combined assets of Samsung, Hyundai Motor, SK and LG stood at 864.9 trillion won as of end 2016, [...]

S. Korea’s Overseas Direct Investment Hits Record High in First Quarter

S. Korea’s Overseas Direct Investment Hits Record High in First Quarter

SEJONG, May 18 (Korea Bizwire) – South Korea’s overseas direct investment hit a record high in the first quarter of this year on increased demand for mergers and acquisitions in the retail and information service sectors, government data showed Thursday. The overall overseas direct investment totaled US$10.71 billion in the January-March period, up 30.2 percent from $8.23 billion tallied a year ago, according to the data compiled by [...]

Citibank to Convert Most Non-regular Workers into Regular Staff

Citibank to Convert Most Non-regular Workers into Regular Staff

SEOUL, May 18 (Korea Bizwire) – Citibank Korea, the local unit of U.S. banking giant Citigroup, said Wednesday that it will convert almost all nonregular workers on its payroll into regular employees by the end of this year. Citibank Korea said the beneficiaries include about 300 tellers and other workers with low wages, which account for 8.5 percent of its total staff. Bank CEO Park Jin-hei said the agenda to change [...]

Foreign Ownership of KOSDAQ Stocks Hits Record High

Foreign Ownership of KOSDAQ Stocks Hits Record High

SEOUL, May 17 (Korea Bizwire) – Foreign ownership of stocks traded on South Korea’s secondary stock market has reached a fresh high on expectations the country’s new government may take steps to boost smaller firms, data showed Tuesday.  As of Thursday, offshore investors held 23.3 trillion won (US$20.8 billion) worth of shares traded on the [...]

Washington’s NAFTA Renegotiation Can Adversely Impact S. Korean Exports

Washington’s NAFTA Renegotiation Can Adversely Impact S. Korean Exports

SEOUL, May 14 (Korea Bizwire) – The latest steps by U.S. President Donald Trump to renegotiate the North American Free Trade Agreement (NAFTA) could undercut the price competitiveness of South Korean exports to America that are shipped through Mexico, according to experts Saturday. The concern came as the Trump administration is anticipated to kick off official steps to renegotiate [...]