SEOUL, Sept. 1 (Korea Bizwire) — Bio shares on the Korean stock market tumbled this year as investor confidence was hurt by a series of scandals involving major drugmakers, data showed Saturday. The combined market capitalization of 43 pharmaceutical and bio companies listed on the main bourse, the KOSPI, stood at 81.3 trillion won (US$67.2 [...]
SEOUL, Aug. 27 (Korea Bizwire) — An intensifying trade feud with Japan is pushing South Korean companies to look beyond their longtime business partners and enhance self-sufficiency on concerns that Tokyo’s stronger export controls could choke off their supply chains. High-tech parts and materials have been unsung heroes behind the latest smartphones and televisions made [...]
SEOUL, Aug. 26 (Korea Bizwire) — The Korea Exchange, South Korea’s bourse operator, said Monday it has tentatively decided to delist Kolon TissueGene Inc., an affiliate of Kolon Life Science, from the local stock market as it submitted a false document when it was listed two years ago. But the company is allowed to seek [...]
SEOUL, Aug. 26 (Korea Bizwire) – In a symbolic move to show the government’s determination to help foster South Korea’s parts and materials production industry against Japan’s export restrictions, President Moon Jae-in on Monday invested 50 million won (US$41,135) in a relevant stock fund. He visited the headquarters of NH Nonghyup Bank in Seoul and subscribed [...]
SEOUL, Aug. 23 (Korea Bizwire) — Debt recovery applications are spreading among vulnerable members of the population including retired seniors, business owners, day laborers, and the jobless. The Credit Counselling & Recovery Service reported that 4,910 small business owners had applied for debt recovery this year as of July. The number of applications decreased between [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will begin inspecting financial firms later this week over sales of controversial derivative products that carry the risk of losing nearly all investment. Choi Jong-ku, chairman of the Financial Services Commission (FSC), told lawmakers that financial authorities will start an inspection into [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea struck a free trade deal with Israel as part of efforts to strengthen economic ties with the Middle East country and cope with the growing protectionism around the globe, Seoul’s trade ministry said Wednesday. In Jerusalem, South Korean Trade Minister Yoo Myung-hee and her counterpart Eli Cohen [...]
SEOUL, Aug. 19 (Korea Bizwire) — Cases of suspicious financial transactions in South Korea jumped last year, a report showed Monday, in line with the government’s regulations of cryptocurrency trading. A total of 972,320 suspected cases of money laundering or fraud were filed with financial authorities in 2018, up 86.5 percent from a year ago, [...]
SEOUL, Aug. 12 (Korea Bizwire) – South Korea will adopt a controversial scheme to cap presale prices of privately built apartments in extended efforts to stabilize real estate markets, the land ministry said Monday. The ministry said the government plans to revise related laws by early October to fully prepare for the adoption of the “presale price [...]
SEOUL, Aug. 12 (Korea Bizwire) — The combined value of stocks owned by South Korea’s 100 richest shareholders has fallen 11 percent, as the local stock market is reeling from an escalating trade feud between Washington and Beijing and another trade row between South Korea and Japan, industry data showed Sunday. According to the data [...]