SEOUL, Dec. 22 (Korea Bizwire) — South Korean stocks heavily bought by foreign investors shined on the main stock market, while such issues fared far worse on the tech-heavy secondary market, sources said Friday. The average return of the 10 most heavily purchased stocks by offshore investors stood at a whopping 66.5 percent in the [...]
SEOUL, Dec. 22 (Korea Bizwire) – SK Holdings is increasingly pursuing shareholder-friendly polices, including an e-voting system, in a move to improve shareholder value and help satisfy all the interested parties including customers, stockholders and society. According to SK Holdings, a plan to introduce an electronic voting system next year was passed during a board [...]
SEJONG, Dec. 21 (Korea Bizwire) – South Korea’s exports rose 16.4 percent on-year during the first 20 days of December, on the back of a rise in shipments of ships and semiconductors, data showed Thursday. A total of goods worth US$31.5 billion were shipped overseas in the period, according to the data from the Korea Customs [...]
SEOUL, Dec. 21 (Korea Bizwire) – The Financial Supervisory Services has announced the development of a risk assessment system to measure how protected the South Korean financial industry is from economic slumps and interest rate fluctuations. The new system named STARS-Ⅰ, which stands for the stress test for assessing the resilience and stability of a financial [...]
SEOUL, Dec. 20 (Korea Bizwire) – Financial authorities will ramp up efforts to crack down on moneylenders targeting young people and seniors from next year. According to the Financial Services Commission (FSC), a special task force will be launched as part of a joint effort with the Ministry of the Interior and the Seoul Metropolitan Government [...]
SEOUL, Dec. 20 (Korea Bizwire) – The Fair Trade Commission launched on-site inspections of cryptocurrency exchanges Wednesday to see if they comply with consumer-related laws, the government said Wednesday. The three-day inspections follow up on an earlier package of steps aimed at curbing cryptocurrency speculation and crimes. The measures came a day after one such [...]
SEOUL, Dec. 19 (Korea Bizwire) – SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Tuesday that it has received US$10 million in dividends from Eureka Midstream, a U.S. midstream energy company. SK Holdings said the profit is a dividend for the fourth quarter of 2017 and said [...]
SEOUL, Dec. 19 (Korea Bizwire) – The South Korean central bank will take a more prudent stance on tightening its monetary policies in the future by checking the pace of economic recovery and inflation pressure, minutes from the latest rate-hike meeting showed Tuesday. The Bank of Korea’s (BOK) monetary policy board meeting for November raised [...]
SEOUL, Dec. 19 (Korea Bizwire) — CJ Logistics Corp., the logistics arm of South Korea’s food and entertainment conglomerate CJ Group, said Tuesday it will absorb and merge with the group’s construction unit as part of efforts to hone its competitiveness. The merger ratio will be one CJ Logistics share for every 0.54 CJ Engineering [...]
SEOUL, Dec. 15 (Korea Bizwire) – South Korea’s corporate watchdog is looking into whether Mirae Asset Group, a major financial service provider, is violating regulations over inside transactions among its affiliates, industry sources said Friday. The current law forbids inter-affiliate trading within a business group where the controlling family holds more than 30 percent of [...]