SEJONG, Jul. 10 (Korea Bizwire) — Global rating agency Standard & Poor’s has sharply slashed its growth forecast for South Korea’s economy this year to 2 percent due to rising uncertainty about the global trade outlook and weaker consumption. The latest estimate represented a sharp downward revision from its previous forecast of 2.4 percent in [...]
SEOUL, Jul. 10 (Korea Bizwire) — Japan’s tighter regulations on some high-tech exports to South Korea will serve as a new downside risk to Asia’s fourth-largest economy, which is already struggling with a U.S.-China trade war, economists said Wednesday. In a seminar on the impact of Japan’s trade curbs, Kwon Tae-shin, president of the Korea [...]
SEOUL, Jul. 10 (Korea Bizwire) – In what could be the strongest measure ever to clamp down on housing prices, South Korea is cautiously moving to revive the controversial scheme to cap presale prices of privately built apartments, which could have a far-reaching impact on the local home market, industry sources said Wednesday. In a [...]
SEOUL, Jul. 4 (Korea Bizwire) — Nearly 770 foreign investors have been permitted to live legally in South Korea over the past six years under a government immigrant investor program, the Ministry of Justice said Thursday. Under the Immigrant Investor Scheme for Public Business (IISPB) program launched in May 2013, a total of 766 foreigners [...]
SEOUL, Jul. 2 (Korea Bizwire) — Hyundai Card, South Korea’s leading credit card service provider, has set up a new partnership with global networking company Techstars to help startup businesses here go abroad, the company said Tuesday. “With this partnership, Hyundai Card will offer a support program to enter the global market for the members [...]
SEOUL, Jul. 2 (Korea Bizwire) — Throughout history, a new invention or technological advance has often allowed people to carry less with them. For instance, the invention of coins helped reduce the burden of people carrying loads of goods they wished to trade. Just decades ago, it would have been considered unwise, or even unthinkable, [...]
SEOUL, Jun. 30 (Korea Bizwire) — The number of South Korean chaebol members with more than 1 trillion won (US$865 million) worth of listed shares reached 24 as of the previous trading session, data showed Sunday. The combined value of listed shares held by the 24 shareholders came to 64.3 trillion won as of the [...]
SEOUL, Jun. 28 (Korea Bizwire) — Korea Investment & Securities Co. (KIS) revealed a new South Korean stock portfolio using machine learning. KIS’s new Machine Learning Factor Model uses artificial intelligence to select 10 out of 350 factors that impact stock prices of some 2,000 listed companies. The model is designed to find a combination [...]
SEOUL, Jun. 26 (Korea Bizwire) — South Korean construction companies are striving to meet their annual overseas order targets amid concerns over a slowdown in the global economy, industry insiders said Wednesday, as they hope to feed off massive plant orders from the Middle East, their traditional cash cow, with oil prices staying high. Also, [...]
SEJONG, Jun. 24 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport announced it will invite local governments and public housing operators across the country to public housing sites needed for the “Property Project for Mid to High-Rise Modular Housing” by August 22. Modular housing refers to a method of building a unit structure [...]