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Archive by category Financial Market

Major Korean Conglomerates Sell Core Assets Amid Economic Uncertainty

SEOUL, Nov. 21 (Korea Bizwire) – As global economic uncertainties persist, South Korea’s largest conglomerates are intensifying efforts to secure cash reserves, even divesting profitable core businesses and world-leading operations to strengthen their financial positions and fund future investments. According to industry sources on November 20, major business groups are actively selling profitable subsidiaries and flagship [...]

Credit Card Loans Hit Record High Amid Tightened Bank Lending and Sluggish Consumption

SEOUL, Nov. 20 (Korea Bizwire) – Outstanding credit card loans have risen sharply to reach an all-time high as of end-October amid tight lending regulations by banks and weak domestic demand, data showed Wednesday. Outstanding loans extended by nine major credit card firms amounted to 42.22 trillion won (US$30.25 billion) as of end-October, the largest [...]

Samsung Shares Continue Slide as Foreign Investors Lead Selloff

SEOUL, Nov. 14 (Korea Bizwire) – Samsung Group shares, long considered a cornerstone of South Korean investing, continued their downward trajectory as foreign and institutional investors led a significant selloff, while retail investors moved to buy the dip. Market analysts suggest that despite current undervaluation, a quick recovery appears unlikely. On November 13, Samsung Electronics closed [...]

Korean Retail Investors Strike Gold with Tesla as Trump’s Victory Sparks Rally

SEOUL, Nov. 13 (Korea Bizwire) – Lee, a 32-year-old office worker from Incheon, has been waking up in the middle of the night to check his investment portfolio, often exclaiming “Thank you, Musk” before falling back asleep. His enthusiasm stems from a remarkable turnaround in his 10-million-won investment in Tesla, which had previously plunged 30% amid [...]

South Korean Markets Often Slump on College Entrance Exam Day, Analysis Shows

SEOUL, Nov. 10 (Korea Bizwire) – As South Korea prepares for its annual College Scholastic Ability Test (CSAT), market analysts are noting a peculiar pattern: the stock market tends to perform poorly on the day of the crucial national exam. The phenomenon, which has caught the attention of South Korea’s financial sector, is largely attributed to [...]

Coupang Founder to Sell Shares Worth Millions, Marking Latest Chapter in E-Commerce Success Story

SEOUL, Nov. 8 (Korea Bizwire) – In a significant move that cements his position among South Korea’s most successful entrepreneurs, Bom Kim, the founder and executive chairman of Coupang, has announced plans for a major stock sale, fourteen years after founding the company and three years after its landmark NYSE debut. Kim, who moved to the [...]

S. Korea Kicks Off Annual Investment Promotion Event

SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s industry ministry launched a conference on Wednesday, highlighting the government’s efforts to attract foreign direct investment (FDI) by creating a favorable business environment. The annual Invest Korea Summit kicked off in Seoul for a three-day run, drawing over 2,000 participants from global companies and governments, according to [...]

Household Credit Soars in October as Savings Banks, Credit Unions Outpace Commercial Lenders Despite Government Curb Efforts

SEOUL, Nov. 3 (Korea Bizwire) – South Korea’s household credit increased at a faster rate in October due to rising loans from savings banks and credit unions despite the government’s efforts to curb household debts, financial data showed Sunday. Outstanding household credit extended by all financial institutions, including commercial banks, savings banks, and insurance [...]

Household Loan Growth Remains Unstable, Says Chief Regulator

SEOUL, Oct. 30 (Korea Bizwire) – Household loan growth continued in October, rising slightly higher than the previous month, the country’s chief regulator said Wednesday, but added that it is unclear whether tightened curbs on loans for home rent would be implemented this year. Kim Byoung-hwan, head of the Financial Services Commission (FSC), told reporters [...]

Finance Chief Pledges to Maintain Low State Debt Level in Meeting with Moody’s Executive

SEOUL, Oct. 27 (Korea Bizwire) – South Korea’s Finance Minister Choi Sang-mok vowed to minimize the pace of its government debt growth through stricter budget restructuring in a meeting with a manager of Moody’s Investors Service, the finance ministry said Sunday. Choi made the remarks when he met with Marie Diron, managing director of Moody’s [...]