SEOUL, Mar. 5 (Korea Bizwire) –The South Korean government and financial institutions have initiated a campaign to assist employees in reclaiming unclaimed retirement pensions, which have accumulated to more than 110 billion won due to workers not claiming them. As of the end of last year, the Ministry of Employment and Labor reported that unclaimed [...]
SEOUL, Mar. 5 (Korea Bizwire) –The Financial Services Commission (FSC) announced plans to intensify disclosure requirements related to mergers among publicly listed companies. Under the proposed amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act and the Regulations on Issuance and Disclosure of Securities, listed companies will be mandated to [...]
SEOUL, Mar. 4 (Korea Bizwire) — South Korea’s industrial output inched up in January despite the marked fall in semiconductor production, data showed Monday. Industrial output gained 0.4 percent on-month last month, the third consecutive on-year increase, according to the data compiled by Statistics Korea. But the output in the overall mining manufacturing sector shed [...]
SEOUL, Feb. 28 (Korea Bizwire) – Employees of foreign companies in South Korea who receive shares from their overseas headquarters as performance rewards will now be able to sell them directly without needing to transfer them to a domestic brokerage firm first. The Financial Services Commission announced on February 27 that a revision to the “Enforcement [...]
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. 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 [...]