SEOUL, May 4 (Korea Bizwire) — The Korea Exchange announced Thursday that it has initiated a new market surveillance system based on artificial intelligence. The main bourse operator said the construction of the new system, EXIGHT, was complete and a kickoff celebration was held the same day. EXIGHT is a portmanteau of the words “exchange” [...]
SEOUL, May 2 (Korea Bizwire) — The National Pension Service (NPS), a key player in the domestic stock market, included two firms on its blacklist for paying low dividends to shareholders. According to the NPS, a special committee held a meeting on Wednesday last week and voted to reveal that Namyang Dairy Products and Hyundai [...]
SEOUL, May 2 (Korea Bizwire) — The government will actively consider granting a license to set up the nation’s third Internet-only bank, as part of its efforts to ease entry barriers to the financial sector, officials said Wednesday. Financial Services Commission (FSC) Vice Chairman Kim Yong-beom unveiled a series of measures to soften regulations in [...]
SEOUL, May 1 (Korea Bizwire) — A shift in the government’s Northern Economic Cooperation policy is expected as economic cooperation between the two Koreas seems more likely to materialize following the adoption of the Panmunjom Declaration. The Ministry of Trade, Industry and Energy has initiated internal assessments to prepare for a new age of inter-Korea [...]
SEJONG, Apr. 30 (Korea Bizwire) — Nonregular workers in South Korea have seen their wages rise nearly 30 percent over the past decade, but the increase has almost been offset by inflation, data showed Sunday. The gross monthly wages of temporary workers in Asia’s fourth-largest economy stood at 1.51 million won (US$1,410) as of the [...]
SEOUL, Apr. 26 (Korea Bizwire) — Telemarketers selling insurance over the phone will now have to pace their explanations at a certain speed to ensure consumer protection, one of many other new measures crafted by the Financial Supervisory Service (FSS). The FSS, drawing upon the expertise of external professionals to identify 177 specific tasks, created [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korean companies operating in China are being encouraged to make use of the Chinese government’s support for the creation of intellectual property. Speaking to South Korean business owners and students during a forum in Shanghai on Sunday, Seo Dong-wook, the director of the Shanghai branch of the Korean Cultural [...]
SEOUL, Apr. 25 (Korea Bizwire) — Nearly half of cash dividends from South Korean conglomerates last year went to foreign shareholders, with Samsung Electronics leading the pack, data from the financial regulator showed Wednesday. The top 30 listed firms in terms of market cap paid 17.39 trillion won (US$16.13 billion) in cash dividends in 2017, [...]
SEOUL, Apr. 23 (Korea Bizwire) – The employment-to-gross domestic product (GDP) ratio fell to a record low last year, data from the central bank and statistical agency showed on Monday, with the speed of the fall causing more alarm among observers of the economy. The ratio measures the number of newly employed workers per 1 [...]
SEOUL, Apr. 19 (Korea Bizwire) — A peace treaty that would finally end the 1950-53 Korean War, one of the growing prospects for the upcoming cross-border summit next week, may also end the chronic “Korea discount” in the stock market, analysts said Thursday. South Korean President Moon Jae-in will meet North Korea’s top leader Kim [...]