SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s benchmark stock index is likely to come under selling pressure next week as uncertainties from the fast-growing inflation continue to fan expectations of a quick rate hike by the U.S. Federal Reserve, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,968.8 points [...]
SEOUL, Nov. 11 (Korea Bizwire) — A German legal expenses insurance company that chose South Korea as its first Asian market has closed down after 12 years in business. The Financial Services Commission said Wednesday that DAS Legal Expenses Insurance Co. decided to shut down and disband all businesses at a recent shareholder’s meeting, and [...]
SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s leading securities companies posted record earnings in the first nine months of this year on a stock market boom, industry sources said Thursday. The country’s top 10 brokerage housed are estimated to have registered a combined net profit of around 7 trillion won (US$5.9 billion) for the [...]
SEOUL, Nov. 11 (Korea Bizwire) — As retirement pension funds shift their focus from savings to investment, products such as target date funds (TDFs) and exchange traded funds (ETFs) are growing at a blistering pace. The reserves for defined contribution (DC)-type retirement pension and individual retirement pension (IRP) products totaled 63 trillion won (US$53.1 billion) [...]
SEOUL, Nov. 7 (Korea Bizwire) — The prices of instant noodles in South Korea grew at the fastest pace in about 13 years last month, data showed Sunday, raising worries that such steep price hikes could increase inflationary pressures. According to the data by Statistics Korea, the price of instant noodles, or “ramyeon” in Korean, [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s benchmark stock index is likely to move in a tight range next week, although volatility may increase due to policy uncertainties, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,969.27 points Friday, nearly unchanged from 2,970.68 points a week ago. The KOSPI fluctuated [...]
SEOUL, Nov. 3 (Korea Bizwire) — South Korean mobile payment service Kakao Pay made a successful stock market debut on Wednesday, closing sharply higher than its initial public offering (IPO) price. The payment arm of Kakao Corp., South Korea’s top messenger app, closed at 193,000 won (US$163.28), up 7.22 percent from its opening price of [...]
SEOUL, Nov. 3 (Korea Bizwire) – Online-based real estate startups are bulking up rapidly, bringing about a new trend in the South Korean real estate market. Dawin Property, a real estate brokerage firm, recently attracted an investment of 3 billion won (US$2.54 million) from SoftBank Ventures Asia Corp. and Fast Ventures, according to industry sources. [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korean internet-only banks said Tuesday their third-quarter profits sharply increased on robust growth in customers and deposits. K-Bank, controlled by a consortium of telecom giant KT Corp., Woori Bank and 19 other companies, saw its third-quarter earnings more than double from three months earlier. Net profit came to [...]
SEOUL, Nov. 2 (Korea Bizwire) — Foreign direct investment (FDI) pledged to the country has surged more than 5,000 times in 60 years, which helped play a key pillar of now Asia’s fourth-largest economy, the industry ministry said Tuesday. In 1962, a local carmaker reported receiving US$3 million in foreign investment, the first of its [...]