SEOUL, Nov. 29 (Korea Bizwire) – South Korean funds for stock investment in Asia’s emerging economies have posted the highest returns among local overseas equity investment funds this year, a market tracker said Wednesday. The average return of equity investment funds for Asian emerging markets came to 37.4 percent as of Monday, the biggest yield [...]
SEOUL, Nov. 24 (Korea Bizwire) — Nonghyup Financial Group Inc., a major South Korean financial holding firm, said Friday it will ramp up efforts to expand its presence in Indonesia and other Southeast Asian countries. Nonghyup Financial Group said it will actively push to make forays into Indonesia in an effort to secure a foothold [...]
SEOUL, Nov. 23 (Korea Bizwire) – Loans extended to local businesses rose slightly in the July-September period from a quarter earlier on increased operating expenses and facility investments, central bank data showed Thursday. Outstanding corporate loans came to 1,036.6 trillion won (US$952 billion) in the third quarter, up 2 percent from the preceding three months, according to data compiled by the Bank of Korea (BOK). In terms of [...]
SEOUL, Nov. 23 (Korea Bizwire) – South Korean savings banks’ household lending has soared nearly 20 percent over the past year to top the 20 trillion-won (US$18.3 billion) mark despite their high interest, central bank data showed Thursday. Savings banks’ outstanding household loans stood at 20.6 trillion won as of end-September, up 19.8 percent from [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]