SEOUL, Dec. 19 (Korea Bizwire) – SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Tuesday that it has received US$10 million in dividends from Eureka Midstream, a U.S. midstream energy company. SK Holdings said the profit is a dividend for the fourth quarter of 2017 and said [...]
SEOUL, Dec. 19 (Korea Bizwire) – The South Korean central bank will take a more prudent stance on tightening its monetary policies in the future by checking the pace of economic recovery and inflation pressure, minutes from the latest rate-hike meeting showed Tuesday. The Bank of Korea’s (BOK) monetary policy board meeting for November raised [...]
SEOUL, Dec. 15 (Korea Bizwire) – South Korea’s top mobile messenger operator Kakao Corp. said Friday it will raise US$1 billion by selling shares to overseas investors, which will be used for merger and acquisition projects. Kakao Corp. said its board of directors approved the plan to raise the cash by issuing global depository receipts [...]
SEOUL, Dec. 15 (Korea Bizwire) – South Korean cryptocurrency exchanges said Friday they will adopt a raft of self-regulatory measures to improve transparency in trading to keep the unregulated market in check amid worries over a bitcoin frenzy. The Korean Blockchain Industry Association composed of 14 virtual currency exchanges said its members agreed to require [...]
SEOUL, Dec. 14 (Korea Bizwire) — An interest rate rise in South Korea will increase the debt repayment burdens of vulnerable households who over-extended themselves on mortgages during the low rate period, the central bank said Thursday. “In general, household and corporate borrowers will be able to afford an increase in debt repayment incurred by [...]
SEOUL, Dec. 14 (Korea Bizwire) – A leaked draft outlining the government’s cryptocurrency regulations has been met with a sigh of relief from investors, as earlier reports of an all-out ban seem to have been debunked. Despite a number of reports that the South Korean government would follow in China’s footsteps and ban all cryptocurrency transactions, [...]
BRUSSELS, Dec. 14 (Korea Bizwire) — The European Union has said South Korea could be off its tax haven blacklist as soon as late January, if the country promises to amend or scrap tax breaks for international companies. South Korea was branded as a tax haven along with 16 other countries including Mongolia and Namibia according [...]
SEJONG, Dec. 13 (Korea Bizwire) – The government is introducing a new policy this month requiring multinational companies to submit integrated attribution reports, as part of a bid to tackle tax avoidance. The integrated reports submission system is in response to tax avoidance schemes employed by multinational companies such as the manipulation of transfer prices, the [...]
SEOUL, Dec. 13 (Korea Bizwire) – The minimum wage hike which will enter effect next year has been labeled the hottest issue of this year in the retail industry, a survey has found. According to the results of a survey conducted by Retail Magazine, which is run by the Korea Chainstores Association, the 16.4 percent minimum [...]
SEJONG, Dec. 12 (Korea Bizwire) – The number of foreign residents in South Korea has more than doubled over the past decade, topping the 2 million mark in 2016, but multicultural marriages have dropped sharply, government data showed Tuesday. The number of non-Korean citizens totaled some 2.05 million as of end-December 2016, according to the [...]