SEOUL, Jun. 29 (Korea Bizwire) — The debt burden of South Koreans in their 20s and 30s has grown at the fastest pace among all age groups over the past three years amid a spike in household debt, central bank data showed Thursday. The so-called loan-to-income (LTI) ratio for 20-somethings and 30-somethings has risen 36.2 [...]
SEOUL, June 28 (Korea Bizwire) – A private think tank urged the government Wednesday to exempt taxes on income earned by South Korean multinationals abroad so they can easily repatriate funds that can fuel investment in the country. “The core of the new U.S. administration’s tax reform revealed in April is centered on the country [...]
SEOUL, Jun. 27 (Korea Bizwire) — High household debt and a possible capital flight following expected U.S. rate hikes pose major risks to South Korea this year, a local think tank said Monday. In a seminar held by the Korea Economic Research Institute (KERI) in Seoul, KERI Vice President Song Won-geun said faced with downside [...]
SEOUL, June 26 (Korea Bizwire) – The housing market in Seoul and its adjacent areas are in an expansion phase, South Korea’s central bank said Monday, a move that has prompted the government to crack down on speculative real estate investments. The Bank of Korea (BOK) said in a report that the housing prices in [...]
SEOUL, Jun. 22 (Korea Bizwire) — According to the Bank of Korea’s latest report submitted to the National Assembly, overall levels of household debt are on the rise. The report concludes that the two major factors responsible are excessive real estate investment and the aging population. Almost two thirds of the average Korean’s financial portfolio [...]
SEOUL, June 16 (Korea Bizwire) – South Korea’s won currency is likely to remain steady for the time being, despite U.S. Federal Reserve’s move to tighten its monetary policy, analysts here said Friday. The won has risen 6.9 percent against the U.S. dollar so far this year, and the local currency market showed a muted [...]
SEOUL, June 13 (Korea Bizwire) – The chief of South Korea’s central bank on Tuesday renewed his stance to maintain the current monetary easing policy to support growth despite a possible U.S. rate hike this week. “As I mentioned yesterday, we will maintain the accommodative monetary policy to help out with economic recovery. We cannot [...]
SEJONG, June 13 (Korea Bizwire) – The South Korean government vowed Tuesday to take all necessary measures to deal with growing U.S. barriers against its trade surplus and steel products. “As the U.S. government has been moving to strengthen trade restrictions and raise barriers, all government ministries need to formulate countermeasures against such developments,” Deputy [...]
SEOUL, June 13 (Korea Bizwire) – The accumulated investment made by South Korean companies in Vietnam topped the US$50 billion mark as of 2016, with local businesses emerging as the No. 1 foreign investors in the Southeast Asian economy, industry data showed Monday. According to the data compiled by the Korea Trade-Investment Promotion Agency (KOTRA), [...]
SEOUL, June 10 (Korea Bizwire) – Earlier this week, the special advisory committee of state affairs planning — a presidential transition team appointed by President Moon Jae-in — reaffirmed one of Moon’s campaign pledges to raise the minimum wage to 10,000 won by 2020 at a press briefing held in central Seoul. The spokesperson of [...]