SEOUL, Feb. 10 (Korea Bizwire) — In the wake of the spread of the novel coronavirus infection, also known as Wuhan pneumonia, events that attract massive crowds are being cancelled. Meanwhile, the construction industry is having to deal with a difference in opinions between those in the Seoul metropolitan area and provincial areas over the [...]
SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s state pension provider owns 5 percent or more of over 300 listed companies amid increased shareholder activism by the service, a financial information provider said Monday. The National Pension Service (NPS) held stakes of 5 percent or greater in 313 companies traded on the country’s major and [...]
SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]
SEOUL, Feb. 4 (Korea Bizwire) — The craze over purchasing foreign stocks continues among South Korean investors. A rush to buy shares in U.S. tech giants such as Apple Inc. and Tesla Motors Inc. led the craze over purchasing foreign stocks. The Korea Securities Depository reported the value of foreign stock transactions (both buy and [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s ratio of private debt to gross domestic product (GDP) grew at the second-fastest click among major economies in the third quarter of 2019, data showed Monday. Household debt in Asia’s fourth-largest economy accounted for 95.1 percent of the country’s GDP as of end-September last year, up 3.9 [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s much-awaited economic recovery may again be drawn out in the face of the deadly virus spreading in China and apparently to the furthest corners of the globe, including South Korea, potentially undermining global demand and supply chains for weeks or even months to come, analysts here said [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s stock market has plummeted nearly 6 percent since the first new coronavirus case was confirmed in the country, data showed Sunday, as the deadly virus is increasingly feared to pose downside risks to the global financial market and economic growth. The benchmark Korea Composite Stock Price Index [...]
GWANGJU, Jan. 30 (Korea Bizwire) — Automated teller machines (ATMs) are increasingly losing ground due to a boost in credit card use and the growing popularity of Internet and mobile banking. Some predict that these automated banking devices, which have drastically changed financial culture, will gradually disappear into history. According to data from Kwangju Bank, [...]
SEOUL, Jan. 29 (Korea Bizwire) — The number of counterfeit South Korean banknotes dropped to a new record low in 2019, the Bank of Korea (BOK) said Wednesday, due to what it called an enhanced security system that quickly leads to the arrest of those who produce or use fake bills. In 2019, the number [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korean general insurance companies are suffering from slowing growth and losses. The Korea Insurance Development Institute reported that total premium income among local general insurance companies in 2018 was 89.8 trillion won ($76.1 billion), up by only 3.4 percent from the previous year. The growth rate of the [...]