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Record High KOSPI Earnings Shed Light on Economic Imbalance

Record High KOSPI Earnings Shed Light on Economic Imbalance

SEOUL, Nov. 17 (Korea Bizwire) – Despite record KOSPI earnings, only a small number of conglomerates have reported significant increases in profits this year. According to reports from the Korea Exchange, the accumulated net earnings of 525 KOSPI-listed companies during the first three quarters were estimated to be around 92.5 trillion won, up 34.2 percent from [...]

South Korea’s Push to Create Its Own Goldman Sachs

South Korea’s Push to Create Its Own Goldman Sachs

SEOUL, Nov. 16 (Korea Bizwire) – South Korea is continuing efforts to create its own Goldman Sachs, with the government encouraging firms to become larger in size to compete with international investment banks. The Financial Services Commission (FSC) is pushing for the establishment of a major competitive South Korean investment bank by creating an environment where [...]

Dividend Payouts to Foreigners Soar 20 pct This Year

Dividend Payouts to Foreigners Soar 20 pct This Year

SEOUL, Nov. 16 (Korea Bizwire) –South Korean listed firms’ dividend payouts to foreign investors jumped more than 20 percent in the first nine months of the year due mainly to increased earnings, central bank data showed Thursday. Local listed companies paid foreign investors US$14.09 billion in dividends in the January-September period, up 20.5 percent from [...]

S. Korea to Give Tax Break to KOSDAQ-listed Firms

S. Korea to Give Tax Break to KOSDAQ-listed Firms

SEOUL, Nov. 13 (Korea Bizwire) — South Korea will extend a tax break to companies listed on the KOSDAQ stock market and revamp listing rules to help small and medium-sized firms raise funds through the junior market, the country’s financial regulator said Monday. Details of the tax incentive, including how much tax will be deducted, [...]

Cryptocurrency Coming Under Increasing Malware Attack

Cryptocurrency Coming Under Increasing Malware Attack

SEOUL, Nov. 10 (Korea Bizwire) — Malicious code targeting cryptocurrency is increasing at an alarming rate with the rising value of virtual money, statistics showed Friday. According to Korea Internet & Security Agency (KISA), 5,366 cases of damage from ransomware were reported in the January-September period this year, up 3.7-fold from 1,438 in the same [...]

Foreigners Buy S. Korean Stocks and Bonds on Eased Tensions with N. Korea

Foreigners Buy S. Korean Stocks and Bonds on Eased Tensions with N. Korea

SEOUL, Nov. 8 (Korea Bizwire) — Foreign investors bought South Korean stocks and bonds worth US$3.48 billion in October due to expectations of improved corporate earnings amid eased tensions on the Korean Peninsula, the central bank said Wednesday. Local stocks and bonds bought by foreign investors stood at $2.84 billion and $650 million, respectively, the [...]

South Korea CDS Rises Drastically on Political Tensions

South Korea CDS Rises Drastically on Political Tensions

SEOUL, Oct. 24 (Korea Bizwire) – South Korea’s credit default swap has risen by over 25 basis points since the beginning of this year, reaching nearly 70 bps, amid growing political tensions surrounding North Korea and the U.S.’s hardline stance. According to data by financial information firm Markit and Yonhap Infomax, the five-year credit default [...]

Female-Friendly Work Environment Crucial in Sustainable Society, Pension Fund Executive Says

Female-Friendly Work Environment Crucial in Sustainable Society, Pension Fund Executive Says

SEOUL, Oct. 24 (Korea Bizwire) – Japanese pension fund executive Hiromichi Mizuno has said investment directed by environmental, social and governance issues is necessary to encourage women to participate in the labor force and build a sustainable society. Mizuno, who is the chief investment officer of Japan’s Government Pension Investment Fund (GPIF), among the world’s biggest pension [...]

Senior IMF Official Says South Korean Household Debt ‘Not Imminent Threat’

Senior IMF Official Says South Korean Household Debt ‘Not Imminent Threat’

Washington, D.C., Oct. 24 (Korea Bizwire) – The director of the IMF’s Asia and Pacific Department, Rhee Chang-yong, has said though South Korea faces high household debt levels compared to other OECD member states, the level of indebtedness does not pose an imminent threat. Speaking to the press on Monday at the Korean Cultural Center in Washington [...]