SEOUL, March 10 (Korea Bizwire) — South Korean investors are scrambling to pour their money into short-term investment funds amid greater stock market volatility stemming from the coronavirus outbreak, data showed Tuesday. The net asset value of money market funds (MMFs) stood at 143.6 trillion won (US$119 billion) as of end-February, up 15.2 trillion won [...]
SEOUL, March 9 (Korea Bizwire) — The outbreak of the new coronavirus here may further undermine South Korea’s economic growth if it is lasts for a significant amount of time, reports suggested Monday, while some said the virus may already have nearly halved the country’s economic growth. “Household spending in Japan and Korea are set [...]
SEOUL, March 9 (Korea Bizwire) — With the novel coronavirus outbreak hampering all private investor seminars and investment counseling by securities companies, investment content published on YouTube and other online programs is gaining popularity. The web seminar on investment strategy conducted by Mirae Asset Global Investments, South Korea’s leading asset management firm on April 27 [...]
SEOUL, March 6 (Korea Bizwire) — South Korean retail investors have rushed to fill in a stock market vacuum left by fleeing foreigners since the country confirmed its first coronavirus case in late January, data showed Friday. Individual investors’ net buying of local stocks reached upwards of 9 trillion won (US$7.6 billion) between Jan. 20, [...]
SEOUL, March 6 (Korea Bizwire) — The National Assembly on Thursday voted down a bill intended to loosen the eligibility requirement for the largest shareholder of an internet-only bank. A revision of the Act on Special Cases Concerning Establishment and Operation of Internet-only Banks failed to pass in parliament, as 82 of 184 lawmakers on [...]
SEOUL, March 5 (Korea Bizwire) — The amount of daily financial transactions using credit cards and electronic means continued to grow last year while the use of checks and promissory notes continued to dwindle, central bank data showed Thursday. The value of daily financial transactions using non-cash payment methods, including remittance services, came to 81.4 [...]
SEOUL, March 5 (Korea Bizwire) — Despite the coronavirus shock, money floating around the South Korean stock market has touched an all-time high, data showed Thursday, amid growing expectations of a market rally. The amount of stock-related funds came to 124.1 trillion won (US$105 billion) as of the end of February, up 8.8 trillion won [...]
SEOUL, March 4 (Korea Bizwire) — Foreign selling of South Korean stocks skyrocketed in February as investors rushed to pull out of emerging markets amid the coronavirus scare, data showed Wednesday. Offshore investors sold a net US$3 billion worth of South Korean stocks last month, compared with net selling of $165 million a month earlier, [...]
SEOUL, March 4 (Korea Bizwire) — The debt owed by households and small businesses in South Korea rose at one of the world’s fastest rates in 2019 in terms of its ratio to the country’s gross domestic product (GDP), data showed Wednesday. According to the data from the Bank for International Settlement, outstanding debt extended [...]
SEOUL, March 2 (Korea Bizwire) — South Korean institutions’ investment in overseas securities surged sharply from a year earlier in 2019, largely due to a rise in their purchase of overseas bonds, central bank data showed Monday. The combined value of foreign stocks and bonds held by South Korean institutions came to US$326.3 billion as [...]