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Samsung Has Substantial Upside Potential on Sound Fundamentals: Chief Analyst

Samsung Has Substantial Upside Potential on Sound Fundamentals: Chief Analyst

SEOUL, June 24 (Korea Bizwire) — Investor sentiment has been unduly negative toward Samsung Electronics in light of the company’s strong performance and solid earnings forecast, a chief analyst at a local research firm has said. “I think investor worries are excessive. Limited supply will shore up memory chip prices in the coming months,” Greg [...]

Citibank Korea Signs Retail Loan Refinancing Scheme with KB Kookmin, Toss

Citibank Korea Signs Retail Loan Refinancing Scheme with KB Kookmin, Toss

SEOUL, June 22 (Korea Bizwire) — Citibank Korea Inc., the Korean unit of U.S. banking giant Citigroup, said Wednesday it signed agreements with KB Koomin Bank and Toss Bank to help its individual customers refinance their loans after closing its retail banking sector. Citibank Korea closed all new sign-ups for retail banking and financial services [...]

S. Korea to Extend Rental-related Loans for Tenants, Tax Incentives for Landlords

S. Korea to Extend Rental-related Loans for Tenants, Tax Incentives for Landlords

SEOUL, June 21 (Korea Bizwire) — The government on Tuesday vowed to relax regulations on loans and tax deductions for tenants and to extend tax benefits to landlords who raise rental fees at a minimum level in a move to help ease financial burdens on tenants and stabilize the housing market. Under the Yoon Suk-yeol [...]

Overseas Direct Investment More than Doubles in Q1 amid Post-pandemic Recovery

Overseas Direct Investment More than Doubles in Q1 amid Post-pandemic Recovery

SEOUL, June 17 (Korea Bizwire) — South Korea’s overseas direct investment more than doubled on-year in the first quarter of this year amid an economic recovery from the COVID-19 pandemic, the finance ministry said Friday. The value of investments made overseas by South Korean companies reached US$25.4 billion in the January-March period, up from $11.34 [...]

Kakao Pay Employees Frustrated over Plunging Share Price

Kakao Pay Employees Frustrated over Plunging Share Price

SEOUL, June 10 (Korea Bizwire) — Shares of South Korean mobile payment service Kakao Pay Corp. have plunged following the stock sales through block deal by Alipay Singapore Holdings Pte, which is the company’s second-largest shareholder. Kakao Pay employees owning company stock, in turn, are seeing significant losses. On Wednesday, Kakao Pay shed 15.19 percent to [...]

Foreigners’ Net Stock Selling Continues for 4th Month in May

Foreigners’ Net Stock Selling Continues for 4th Month in May

SEOUL, June 9 (Korea Bizwire) — Foreigners withdrew more money than they injected into South Korea’s stock markets for the fourth straight month in May amid worries over economic slowdowns in major countries and the fallout from the ongoing war in Ukraine, central bank data showed Thursday. Net foreign money outflows from the main bourse, [...]

Brokerages’ Target Price for Samsung Drops Despite High Hopes

Brokerages’ Target Price for Samsung Drops Despite High Hopes

SEOUL, June 7 (Korea Bizwire) — Securities firms are lowering their forecasts for Samsung Electronics Co.’s share price despite the company’s optimistic projections. The average target price proposed by brokerage houses for the giant chipmaker last Thursday was 93,100 won, down by more than 9 percent over the past 12 months, according to the data [...]

S. Korea Ranks No. 1 in Household Debt-to-GDP Ratio in Q1

S. Korea Ranks No. 1 in Household Debt-to-GDP Ratio in Q1

SEOUL, June 6 (Korea Bizwire) — South Korea had the highest household debt-to-gross domestic product (GDP) ratio among 36 major economies in the first quarter, a global finance report said Monday. The country’s household debt-to-GDP ratio came to 104.3 percent in the January-March period, followed by Lebanon with 97.8 percent, Hong Kong with 95.3 percent, [...]

Korean Investors Continue to Buy Tesla Shares Despite Recent Price Drops

Korean Investors Continue to Buy Tesla Shares Despite Recent Price Drops

SEOUL, June 6 (Korea Bizwire) — South Korean investors are continuing to buy shares in electric vehicle leader Tesla Inc. despite the plunging price, data showed Sunday. Local investors bought US$1.03 billion worth of Tesla shares last month, the highest since last December, according to the data from the Korea Securities Depository. As such, South [...]