SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s foreign reserves increased for the second straight month in December on the back of the increased conversion value of non-dollar assets and a rise in deposits, central bank data showed Thursday. The country’s foreign reserves had come to US$420.15 billion as of end-December, up $3.07 billion from [...]
SEOUL, Jan. 3 (Korea Bizwire) – The vice chief of South Korea’s financial regulator said Wednesday authorities will set up a computerized system to crack down on naked short selling, in a bid to promote a level playing field for stock investments. Kim So-young, vice chairman of the Financial Services Commission (FSC), said the country [...]
SEOUL, Jan. 3 (Korea Bizwire) – Following the Korean government’s announcement that it would ease the capital gains tax on stocks, a significant shift in investment has been observed towards sectors like secondary batteries. According to the Korea Exchange, since the government’s announcement that it would relax the threshold for imposing transfer taxes from the existing [...]
SEOUL, Jan. 1 (Korea Bizwire) – Foreign investors’ net purchases of Samsung Electronics Co. stocks reached an all-time high last year on rising expectations of a recovery in the semiconductor industry, bourse data showed Monday. Offshore investors scooped up a net 16.7 trillion won (US$12.9 billion) worth of stocks of Samsung Electronics, the world’s largest memory [...]
SEOUL, Dec. 28 (Korea Bizwire) — A pivot in monetary tightening modes, weak domestic demand and uncertainties over the property market may pose risks to financial stability, although the country’s financial system remains relatively stable, a central bank report showed Thursday. In its report on financial stability, the Bank of Korea (BOK) said market expectations [...]
SEOUL, Dec. 27 (Korea Bizwire) — The chief of global tech titan Samsung Electronics Co. has remained South Korea’s richest stockholder as the value of shares held by the country’s wealthiest 100 swelled nearly 20 percent over the past year, a corporate tracker said Wednesday. Samsung Electronics Executive Chairman Lee Jae-yong held stocks worth 14.7 [...]
SEOUL, Dec. 12 (Korea Bizwire) – CJ Logistics, once perceived as a stock market underdog, has been gaining significance recently. The company has been struggling to maintain market share due to the rapid ascent of Coupang, which posed a formidable threat in the retail sector. However, CJ Logistics has experienced a remarkable surge in its stock [...]
SEOUL, Dec. 11 (Korea Bizwire) — Private equity firm MBK Partners has ruled out the possibility of raising the price of its public tender offer for Hankook & Company Co., the holding company of South Korea’s top tiremaker, a source close to the matter said Monday. Last week, a special purpose company set up by [...]
SEOUL, Nov. 24 (Korea Bizwire) — Finance Minister Choo Kyung-ho has vowed to continue efforts to boost foreign investors’ access to the South Korean market and create favorable conditions for corporate investment, his office said Friday. Choo made the remarks during a market opening ceremony at the London Stock Exchange on Thursday (local time), as [...]