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Most South Korean Financial Consumers Prefer Savings Plans Over Investment

Most South Korean Financial Consumers Prefer Savings Plans Over Investment

SEOUL, Sept. 21 (Korea Bizwire) – A new survey has revealed that most South Korean financial consumers still prefer safer choices such as installment savings plans, despite low interest rates and a booming stock market. According to the online survey conducted by pollster NICE R&C with a sample of 19,300 people aged between 20 and 64 [...]

S. Korea Says No Big Impact from U.S. Decision to Reduce Bond Holdings

S. Korea Says No Big Impact from U.S. Decision to Reduce Bond Holdings

SEOUL, Sept. 21 (Korea Bizwire) — South Korea said Thursday that the Federal Reserve’s decision to trim its balance sheet is likely to have a limited impact on Asia’s fourth-largest economy. “I don’t think the Fed’s decision will have a big impact on the domestic financial markets,” Bank of Korea Gov. Lee Ju-yeol told reporters [...]

POSCO, LG Chem Shine During Large-Cap Rally

POSCO, LG Chem Shine During Large-Cap Rally

SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year’s stock rally driven by large caps, data showed Thursday. POSCO’s market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking fourth among the top 30 companies [...]

Household Debt May Limit Policy Maneuvering, Finance Minister Says

Household Debt May Limit Policy Maneuvering, Finance Minister Says

SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top economic policymaker on Thursday expressed concerns that ballooning household debt may narrow room for policy maneuvering in Asia’s fourth-largest economy when interest rates rise, while downplaying the chance of high household debt posing a threat to the overall economy. “The risk of massive household debt will [...]

Foreigners Sell US$3.25 bln of S. Korean Stocks and Bonds in Aug.

Foreigners Sell US$3.25 bln of S. Korean Stocks and Bonds in Aug.

SEOUL, Sept. 13 (Korea Bizwire) — Foreign investors offloaded South Korean stocks and bonds worth US$3.25 billion in August due to security jitters and profit-taking, the central bank said Wednesday. Foreign investors sold local stocks and bonds worth $1.33 billion and $1.91 billion, respectively, the Bank of Korea (BOK) said. It marked the first sell-off [...]

Foreigners Own Over Half of Electric, Electronics Stocks

Foreigners Own Over Half of Electric, Electronics Stocks

SEOUL, Sept. 11 (Korea Bizwire) — Foreign investors hold more than half of electric and electronics shares listed on South Korea’s main stock market, data showed Monday. Foreign ownership of those stocks traded on the Korea Composite Stock Price Index (KOSPI) market came to 51.2 percent of their total market capitalization as of Wednesday, the [...]

Overseas Equity Funds Rising in Popularity

Overseas Equity Funds Rising in Popularity

SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s publicly offered overseas investment funds are regaining popularity among local investors, data showed Friday, as they seek tax benefits and higher returns. According to the data by the Korea Financial Investment Association, the combined net worth of such funds came to 39.4 trillion won (US$34.9 billion) as [...]

Kakao Bank Implements 500 Billion Won Capital Hike

Kakao Bank Implements 500 Billion Won Capital Hike

SEOUL, Sept. 5 (Korea Bizwire) – Kakao Bank, South Korea’s second Internet-only bank, implemented a 500 billion won (US$441.9 million) capital increase on Tuesday as a part of a refinancing plan to bolster its lending business. Kakao Bank, launched in late July with paid-in capital of 300 billion won, has attracted about three million accounts [...]

Bank of Korea More Pessimistic Than Before, but Still Cautiously Hopeful

Bank of Korea More Pessimistic Than Before, but Still Cautiously Hopeful

SEOUL, Aug. 28 (Korea Bizwire) — The Bank of Korea submitted a report to the Strategy and Finance Committee of the National Assembly today in which it predicted that this year’s economic growth would fall short of 3 percent despite the improving global economy and supplementary revisions made to the national budget. The central bank [...]

Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month

Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month

SEOUL, Aug. 28 (Korea Bizwire) — Foreign ownership of listed firms belonging to South Korea’s top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday. Offshore investors held a combined 349.2 trillion won (US$310 billion) worth of shares in 95 listed firms of the leading business groups [...]