SEOUL, Oct. 4 (Korea Bizwire) – As the public’s interest in digital currency grows, the Bank of Korea announced on October 2nd that it will be difficult for digital currency to be used as a common currency. The Bank of Korea stated this in its report on the current status and implications of digital currency [...]
SEOUL, Sept. 26 (Korea Bizwire) – South Korean financial authorities have announced it is set to reform the regulatory landscape of the country’s investment sector to sway investors’ interest away from housing investment and towards startups and venture capital for innovative companies. According to the Financial Services Commission on Sunday, South Korean financial authorities are poised [...]
SEOUL, Sept. 21 (Korea Bizwire) – A new survey has revealed that most South Korean financial consumers still prefer safer choices such as installment savings plans, despite low interest rates and a booming stock market. According to the online survey conducted by pollster NICE R&C with a sample of 19,300 people aged between 20 and 64 [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea said Thursday that the Federal Reserve’s decision to trim its balance sheet is likely to have a limited impact on Asia’s fourth-largest economy. “I don’t think the Fed’s decision will have a big impact on the domestic financial markets,” Bank of Korea Gov. Lee Ju-yeol told reporters [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year’s stock rally driven by large caps, data showed Thursday. POSCO’s market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking fourth among the top 30 companies [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top economic policymaker on Thursday expressed concerns that ballooning household debt may narrow room for policy maneuvering in Asia’s fourth-largest economy when interest rates rise, while downplaying the chance of high household debt posing a threat to the overall economy. “The risk of massive household debt will [...]
SEOUL, Sept. 13 (Korea Bizwire) — Foreign investors offloaded South Korean stocks and bonds worth US$3.25 billion in August due to security jitters and profit-taking, the central bank said Wednesday. Foreign investors sold local stocks and bonds worth $1.33 billion and $1.91 billion, respectively, the Bank of Korea (BOK) said. It marked the first sell-off [...]
SEOUL, Sept. 11 (Korea Bizwire) — Foreign investors hold more than half of electric and electronics shares listed on South Korea’s main stock market, data showed Monday. Foreign ownership of those stocks traded on the Korea Composite Stock Price Index (KOSPI) market came to 51.2 percent of their total market capitalization as of Wednesday, the [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s publicly offered overseas investment funds are regaining popularity among local investors, data showed Friday, as they seek tax benefits and higher returns. According to the data by the Korea Financial Investment Association, the combined net worth of such funds came to 39.4 trillion won (US$34.9 billion) as [...]
SEOUL, Sept. 5 (Korea Bizwire) – Kakao Bank, South Korea’s second Internet-only bank, implemented a 500 billion won (US$441.9 million) capital increase on Tuesday as a part of a refinancing plan to bolster its lending business. Kakao Bank, launched in late July with paid-in capital of 300 billion won, has attracted about three million accounts [...]