SEOUL, Jan. 9 (Korea Bizwire) – Bitcoin prices on South Korean exchanges have risen today despite hints at government regulation, and a drop in the value of the cryptocurrency in other markets. According to cryptocurrency exchange Bithumb, the price per bitcoin reached 24.7 million won as of 2:30 p.m. today, up 1.4 percent after financial [...]
SEOUL, Jan. 9 (Korea Bizwire) – Household debt in South Korea is growing at one of the fastest rates among OECD countries, which could be a serious threat to quality of life in the future. According to the OECD’s ‘How’s Life? 2017’ report, the debt-to-disposable income ratio of South Korean households was 170 percent as [...]
SEOUL, Jan. 8 (Korea Bizwire) – Drugmaker Celltrion Inc.’s stock has made significant gains in recent days, surpassing Hyundai Motor Co. in terms of market value, data showed Monday. Celltrion shares jumped 55.12 percent over the past 7 trading sessions to 302,500 won (US$283.29) on Monday closing, pushing the company’s capitalization to a record 37.1 trillion won. Hyundai Motor’s market capitalization stood at 33.2 trillion won as of Monday closing. Celltrion’s [...]
SEOUL, Jan. 5 (Korea Bizwire) – South Korea’s increase of the minimum wage will boost private spending, which in turn can help Asia’s fourth-largest economy break from its low growth trend, a senior government official said Friday. In July last year, the country decided to raise its minimum wage by 16 percent to 7,530 won [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s trade ministry said Thursday it will hold a public hearing on the negotiations to expand the scope of the free trade agreement (FTA) with China to further lower trade barriers in the service and investment sectors. Policymakers, experts and industry officials will take part in the hearing [...]
SEOUL, Jan. 3 (Korea Bizwire) — Workers and business owners across South Korea expressed mixed views two days after a dramatic minimum wage hike was implemented. Yesterday was the second day in South Korea that workers at the low end of the pay scale received an hourly wage of 7,530 won, but opinions varied on [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korean small and medium-sized businesses are expected to take a hit this year from the double whammy of a minimum wage hike and reduced working hours. The highest minimum wage hike in 17 years takes effect this month with a jump to 7,530 won per hour. However, not [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s central bank chief said Tuesday that he will make a prudent decision on a further rate hike by taking into account all economic data. “The Bank of Korea raises the rate based on data, economic indices and other conditions,” BOK Gov. Lee Ju-yeol told reporters. “The board [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s chief economic policymaker said Tuesday that the government will redouble efforts to successfully implement a series of measures aimed at smoothing out a rise in minimum wage that takes effect this year. In July last year, the country decided to increase its minimum wage by 16 percent [...]
SEOUL, Jan. 2 (Korea Bizwire) — A planned protest against the government’s cryptocurrency regulations failed to live up to the hype, with no one turning up at Gwanghwamun Plaza over the weekend. Despite an online post last week urging bitcoin investors to join a protest against the current administration’s anti-cryptocurrency stance, no sign of protest [...]