SEOUL, Feb. 5 (Korea Bizwire) — South Korean stocks are likely to take on an uptick momentum next week on a technical rebound from the recent stock plunge, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,750.26 points Friday, up 3.26 percent from 2,663.34 points a week ago. The South [...]
SEOUL, Feb. 3 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, on Thursday reported its first profit since its launch in 2017 thanks to a sharp increase in customers and interest income. Net profit came to 22.4 billion won (US$18.6 million) in 2021, a turnaround from a loss of 105.4 billion won a year [...]
SEOUL, Feb. 2 (Korea Bizwire) — The net asset value of stock funds in South Korea suffered a decline for the first time in four months in January, as the global stock market roiled amid major central banks’ move to tighten policies, data showed Wednesday. The asset value of publicly placed stock funds stood at [...]
SEOUL, Jan. 24 (Korea Bizwire) – The Bank of Korea (BOK) said Monday it has successfully completed its first phase of a two-step mock test of the feasibility of a central bank digital currency (CBDC) as it is reviewing whether to introduce the potential new form of money. The BOK launched the first phase in [...]
SEOUL, Jan. 24 (Korea Bizwire) — Curbs on business operation hours have resulted in the biggest shrinkage in the “consumption of in-person services” among various antivirus measures introduced to combat the coronavirus pandemic, an internal central bank report showed Monday. The report suggests that easing a curfew on business operations while imposing a stricter ceiling [...]
SEOUL, Jan. 23 (Korea Bizwire) — Exports by companies in South Korea’s free trade zones grew 89.6 percent on-year to hit an all-time high last year, the industry ministry said Sunday. Outbound shipments came to US$10.94 billion, surpassing the $10 billion mark for the first time ever, according to the data from the Ministry of [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korean stocks are forecast to move in a tight range as investors will likely assume a wait-and-see strategy ahead of the Lunar New Year holiday, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,834.29 on Friday, marking the lowest closing price since December [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korean investors’ holdings of foreign securities touched a new all-time high in 2021 on an overseas investment boom, data showed Thursday. Local investors had held overseas stocks and bonds worth US$100.59 billion as of end-2021, up 39.3 percent from a year earlier, according to the data from the [...]
SEOUL, Jan. 19 (Korea Bizwire) — HDC Hyundai Development Co.’s apartment brand ‘IPark’ is facing rising safety concerns following the recent collapse of an apartment building. On Jan. 11, the facade on a 39-story apartment building crumbled to the ground at its construction site in Gwangju, about 330 kilometers southwest of Seoul, killing at least [...]
SEOUL, Jan. 19 (Korea Bizwire) — Tension is rising in the construction industry as the recent Gwangju apartment building collapse is drawing the eyes of the public to construction safety. Lotte Engineering & Construction Co. held this year’s management strategy conference and a ‘safety culture’ declaration ceremony last Friday to emphasize foremost the value of [...]