SEOUL, Oct. 15 (Korea Bizwire) – Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won (US$1.8 billion) on the benchmark Korea Composite Stock Price Index (KOSPI) from Sept. 18 to last Friday, according [...]
SEOUL, Oct. 10 (Korea Bizwire) – The International Monetary Fund (IMF) maintained its 2023 growth outlook for South Korea at 1.4 percent Tuesday but revised down the forecast for next year amid a global economic slowdown. The organization’s latest projection for 2023 is the same as its forecast made in July when it slashed the [...]
SEOUL, Oct. 3 (Korea Bizwire) – Insider stock ownership at South Korea’s family-run conglomerates rose in 2023 from a year earlier, data showed Tuesday, as more founding members sought to tighten their grip on management. The insider stock ownership rate of 72 conglomerates that have group owners reached 61.2 percent this year, up 1.3 percentage [...]
SEOUL, Sept. 30 (Korea Bizwire) – Assets held by South Korean households in Seoul and the surrounding metropolitan areas were some 70 percent larger than those owned by households in the non-metropolitan regions, data showed Saturday. The average per-household assets in Seoul, the western city of Incheon and the surrounding Gyeonggi Province came to 692.46 [...]
SEOUL, Sept. 19 (Korea Bizwire) – The Organization for Economic Cooperation and Development (OECD) on Tuesday maintained South Korea’s growth outlook and inflation forecast for 2023 at 1.5 percent and 3.4 percent, respectively. The latest figure is just above a 1.4-percent growth projection suggested by the South Korean government in July. The Paris-based organization had [...]
SEOUL, Sept. 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has raised US$1 billion by selling global green bonds, a funding that will help the battery maker move forward with its aggressive market expansion. LGES sold $400 million worth of three-year debts in one tranche and $600 million worth of bonds [...]
SEOUL, Sept. 11 (Korea Bizwire) — The Seoul city government will hold a global financial technology (fintech) conference next month, bringing together fintech experts from around the world to discuss the digitalization trend in the financial industry, officials said Monday. The 2023 Seoul Fintech Week will kick off on Oct. 4 for a three-day run [...]
SEOUL, Sept. 7 (Korea Bizwire) – South Korea’s financial regulator on Thursday asked foreign securities firms to beef up efforts to prevent illegal stock short selling amid an increase in such cases. The Financial Supervisory Service (FSS) made the request in a meeting with compliance officers of 23 foreign securities companies here, calling for an [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean companies are choosing to reduce the issuance of corporate bonds and are instead turning to bank loans to secure funds during an unexpectedly prolonged period of high interest rates, data showed Monday. Net repayments in the corporate bond market have shown a consistent upward trend, with the [...]
SEOUL, Aug. 4 (Korea Bizwire) — The number of retail investors accessing mobile trading systems (MTS), or smartphone trading, is rapidly rising amid sharp fluctuations in the share prices of secondary battery materials producers. According to industry sources, the daily active users (DAU) for five major brokerages — Mirae Asset Securities Co., Samsung Securities Co., [...]