SEOUL, Feb. 27 (Korea Bizwire) — The potential uncollected loans by four major financial holding firms jumped 49 percent on year in 2023, as high interest rates took a toll on borrowers, data showed Tuesday. The value of potential uncollected loans came to 1.96 trillion won (US$1.47 billion) in 2023, up 48.8 percent from the [...]
SEOUL, Feb. 26 (Korea Bizwire) — The financial regulator said Monday that it will work to incentivize efforts by local businesses to enhance their own value that will in turn lead to increased returns to investors. The move comes as part of efforts to end the “Korea Discount,” where local shares are traded at prices [...]
SEOUL, Feb. 15 (Korea Bizwire) – As the appeal of car insurance comparison and recommendation services wanes, industry insiders are turning their gaze towards pet insurance as the next promising market. Amid the growing trend of value-seeking consumers in a high-cost economy, pet insurance is emerging as a new focal point for financial tech services. Notably, [...]
SEOUL, Feb. 13 (Korea Bizwire) – Foreign investors scooped up Korean stocks in January for the third consecutive month on the back of hopes for a recovery in the chipmaking sector, central bank data showed Tuesday. Offshore investors bought a net US$2.51 billion worth of local stocks last month, following $2.52 billion worth of purchases [...]
SEOUL, Feb. 12 (Korea Bizwire) –Amidst strong performance in the technology sector that has propelled the U.S. stock market to new heights, Microsoft has emerged as the most popular overseas stock gifted by South Korean investors since the beginning of this year. According to an analysis by KB Securities, Microsoft topped the list of most [...]
SEOUL, Feb. 11 (Korea Bizwire) – Foreign investors have been active in the South Korean stock market over the past two weeks, contributing to the recent rally in the main KOSPI index, data showed Sunday. Offshore investors scooped up a net total of 5 trillion won (US$3.75 billion) worth of local shares from Jan. 29-Feb. [...]
SEOUL, Feb. 10 (Korea Bizwire) – South Korea may face an outflow of foreign investment from its financial market should the widely anticipated U.S. rate cuts be further delayed, according to a report Saturday. The report from the Korea Center for International Finance (KCIF) noted that current conditions remained favorable for a steady rise in [...]
SEOUL, Feb. 6 (Korea Bizwire) –The Bank of Korea announced on February 6 that it has developed an inflation forecast model with improved predictive accuracy, utilizing big data, artificial intelligence (AI), and machine learning (ML) technologies. Lee Changhoon, head of the digital technology R&D team at the Bank of Korea, shared these insights in a [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korean tech giant Naver Corp. said Friday its fourth-quarter net profit jumped 129 percent from a year earlier, largely driven by robust growth of its commerce and fintech businesses. The net profit came to 301.8 billion won (US$226.6 million) in the three months ending in December, compared with [...]
SEOUL, Feb. 1 (Korea Bizwire) – Household loans extended by five major lenders in South Korea rose for the ninth consecutive month in January with the rate of increase also quickening from a month earlier, market sources said Thursday. Household loans extended by the five top lenders here added 2.9 trillion won (US$2.17 billion) from [...]