SEOUL, November 16 (Korea Bizwire) – A new report has revealed that Myeongdong is the 8th most expensive place for commercial rents in the world, following the likes of Fifth Avenue in New York and Causeway Bay in Hong Kong. Global property consulting firm Cushman & Wakefield named Myeongdong, one of the biggest shopping districts in [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea is continuing efforts to create its own Goldman Sachs, with the government encouraging firms to become larger in size to compete with international investment banks. The Financial Services Commission (FSC) is pushing for the establishment of a major competitive South Korean investment bank by creating an environment where [...]
SEOUL, Nov. 16 (Korea Bizwire) –South Korean listed firms’ dividend payouts to foreign investors jumped more than 20 percent in the first nine months of the year due mainly to increased earnings, central bank data showed Thursday. Local listed companies paid foreign investors US$14.09 billion in dividends in the January-September period, up 20.5 percent from [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Koreans’ satisfaction with their consumer life rose compared to two years ago on the back of improvements in key sectors such as food and clothing, a poll showed Tuesday. The index gauging consumer satisfaction rose 12.8 points from 63.8 in 2015 to 76.6 this year, according to the [...]
SEOUL, Nov. 14 (Korea Bizwire) – A portmanteau of “chat” and “robot”, chatbots are computer programs designed to simulate human conversation in both spoken speech and text format. With the seemingly inevitable advent of artificial intelligence approaching nearer by the day, South Korean airlines, entertainment and banking industry players are taking measures to get ahead [...]
SEOUL, Nov. 13 (Korea Bizwire) — South Korea will extend a tax break to companies listed on the KOSDAQ stock market and revamp listing rules to help small and medium-sized firms raise funds through the junior market, the country’s financial regulator said Monday. Details of the tax incentive, including how much tax will be deducted, [...]
SEOUL, Nov. 13 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold 769 excavators in China last month, almost doubling from a year [...]
SEOUL, Nov. 10 (Korea Bizwire) – Prosecution investigators raided Woori Bank’s training center Friday over allegations of unfair hiring of employees, just three days after the bank’s head office was raided. Investigators from the Seoul Northern District Prosecutors’ Office searched the training center in Anseong, south of Seoul, as part of an investigation into suspicions [...]
SEJONG, Nov. 10 (Korea Bizwire) – South Korea’s finance minister on Friday met with officials from the International Monetary Fund (IMF) and discussed the country’s economic and financial policies, the ministry here said. Finance Minister Kim Dong-yeon held a meeting in Seoul with the IMF mission led by Tarhan Feyzioglu, which has been on a [...]
SEOUL, Nov. 10 (Korea Bizwire) – South Korea said Friday it will provide more compensation to domestic companies for their losses stemming from investments in inter-Korean projects which have now been suspended due to political tension. The support will be given to those involved in the joint industrial complex in Kaesong closed in 2016, the [...]