SEOUL, July 12 (Korea Bizwire) – SK hynix Inc., South Korea’s No. 2 tech giant, on Wednesday remained silent over reports that Japan-based Toshiba Corp. is contacting U.S. and Taiwanese firms as potential buyers of its memory division. Japanese media earlier reported Toshiba is holding talks with U.S. Western Digital and Taiwan-based Hon Hai Precision [...]
SEOUL, July 11 (Korea Bizwire) – South Korea’s top 15 conglomerates said Tuesday they will voluntarily overhaul unfair practices without any intervention from the government, a local business lobby said. In a meeting with Lee Dong-geun, vice chairman of the Korea Chamber of Commerce and Industry (KCCI), 15 business leaders agreed with general calls that [...]
SEOUL, July 10 (Korea Bizwire) – Over six in ten startups in South Korea that initiated crowdfunding this year successfully managed to fund their business ideas, with around 15 projects getting help every month. According to a statement from the Financial Services Commission (FSC) on Sunday, since a crowdfunding platform was introduced last year, 197 [...]
SEOUL, July 7 (Korea Bizwire) – South Korea’s central bank is expected to hold its key rates steady this month as it could move to “normalize” interest in early 2018, Moody’s Analytics said Friday. The Bank of Korea (BOK) is set to hold its rate-review session next Thursday to decide whether to keep or adjust [...]
SEOUL, Jul. 5 (Korea Bizwire) — South Korean manufacturers’ business sentiment reached the highest in over two years, but pessimism still outweighed optimism overall, a survey showed Wednesday. A survey of some 2,200 manufacturing firms put the business sentiment index (BSI) at 94 in the third quarter, up five points from the second quarter but [...]
SEOUL, Jul. 4 (Korea Bizwire) — The South Korean government is accelerating its efforts to embrace the use of cryptocurrencies typified by bitcoin in the public sector, amid growing demand for digital assets that could replace physical money in the future. Lawmaker Park Yong-jin, a member of South Korea’s ruling Democratic Party, announced on Sunday plans [...]
SEOUL, Jul. 4 (Korea Bizwire) — Some foreign investment banks have raised their growth forecasts for South Korea’s economy this year, thanks to better-than-expected exports and facility investment, a financial research institute said Tuesday. The Bank of Korea has upgraded its growth forecast for the country to 2.6 percent from 2.5 percent, citing improving exports, [...]
SEOUL, July 3 (Korea Bizwire) – South Korea’s five carmakers said Monday their combined sales fell 14 percent last month from a year earlier as overseas vehicle demand remained weak. The five automakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a total [...]
SEOUL, Jul. 3 (Korea Bizwire) — Amid growing preference for emerging markets among global investors, the sales of South Korean equity funds more than quadrupled during the first half of 2017, an industry report said. According to an industry report released on Monday by Mirae Asset Daewoo Securities and EPFR Global, the volume of South [...]
SEOUL, June 29 (Korea Bizwire) – Electronics and semiconductors have led the latest stock market boom in Asia’s fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery. Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the [...]