SEOUL, Feb. 27 (Korea Bizwire) — Foreign investors have been unloading South Korean stocks over the past month amid the fast spread of the coronavirus and other negatives, data showed Thursday. Offshore investors sold a net 2.4 trillion won (US$1.98 billion) of South Korean equities in the first 26 days of February, according to the [...]
SEOUL, Feb. 26 (Korea Bizwire) — Foreign investors are flocking to the safety of South Korean bonds after pulling out of stocks this year amid the spread of the new coronavirus, data showed Wednesday. Offshore investors held 129.7 trillion won (US$107 billion) worth of listed government and corporate bonds as of Monday, up about 6 [...]
SEOUL, Feb. 24 (Korea Bizwire) — The outbreak of the novel coronavirus, which began in China, the “World’s Factory”, has cast dark clouds over the global economy. In particular, the South Korean auto industry was directly hit by the failure to obtain wiring harnesses, which has led to disruptions and shutdowns on automobile production lines. [...]
SEOUL, Feb. 21 (Korea Bizwire) — Overseas card spending by South Koreans fell for the first time in a decade in 2019 amid a slowdown in the number of outbound travelers and a weak local currency, central bank data showed Friday. South Korean people spent US$18.9 billion using cards abroad last year, down 1.7 percent [...]
SEOUL, Feb. 20 (Korea Bizwire) — A dark cloud is hanging over the earnings outlook for South Korean securities firms in the wake of the new coronavirus outbreak and a hedge fund scandal, market watchers said Wednesday. The COVID-19 virus outbreak has put the brakes on the local stock market’s rally, which started late last [...]
SEOUL, Feb. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, and Hyundai Construction Equipment Co. (HCE), the country’s No. 2 construction equipment maker, will join hands to develop construction vehicles such as excavators and forklifts powered by hydrogen. The two and Hyundai Mobis Co., the country’s biggest auto parts maker [...]
SEOUL, Feb. 18 (Korea Bizwire) — The market value of Samsung Group units has risen more than 10 percent this year on a strong rally in tech-focused affiliates, a market tracker said Tuesday. The combined market capitalization of Samsung Electronics Co. and 15 other listed firms belonging to South Korea’s top conglomerate came to 524.2 [...]
SEOUL, Feb. 17 (Korea Bizwire) — The prices of South Korea’s preferred stocks have remained bullish this year despite greater market volatility due to the new coronavirus scare, data showed Monday. The price index for preferred shares of the top 20 market-cap companies had climbed 9.11 percent this year as of Friday, according to the [...]
SEOUL, Feb. 16 (Korea Bizwire) — Major non-life insurance firms in South Korea saw their combined net profit fall 39.5 percent last year due to increased losses from their automobile and health insurance segments, industry data showed Sunday. The top eight non-life insurance firms operating in the country reported a combined net profit of 1.75 [...]
JEJU, Feb. 16 (Korea Bizwire) — The amount of land owned by foreigners on South Korea’s southern resort island of Jeju decreased slightly last year, official data showed Sunday. According to the data released by Jeju’s provincial government, foreigners owned 22,548,255 square meters in 14,644 land on Jeju Island as of the end of last [...]