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South Korea Surpasses Japan in Wage Trends Over Two Decades: Analysis

South Korea Surpasses Japan in Wage Trends Over Two Decades: Analysis

SEOUL, Mar. 17 (Korea Bizwire) – A fresh analysis reveals that wages in South Korea now surpass those in Japan across both major corporations and smaller enterprises, marking a significant shift over the past two decades. The Korea Enterprises Federation (KEF) unveiled a comprehensive report titled “International Comparison and Implications of Korea-Japan Wage Trends” on Sunday, [...]

South Korea Launches Campaign to Help Workers Recover Over 110 Billion Won in Unclaimed Retirement Pensions

South Korea Launches Campaign to Help Workers Recover Over 110 Billion Won in Unclaimed Retirement Pensions

SEOUL, Mar. 5 (Korea Bizwire) –The South Korean government and financial institutions have initiated a campaign to assist employees in reclaiming unclaimed retirement pensions, which have accumulated to more than 110 billion won due to workers not claiming them. As of the end of last year, the Ministry of Employment and Labor reported that unclaimed [...]

Record Surge in Reverse Mortgage Applications Amid Falling House Prices

Record Surge in Reverse Mortgage Applications Amid Falling House Prices

SEOUL, Mar. 4 (Korea Bizwire) – As predictions of declining real estate values gain momentum, the scale of reverse mortgage guarantees in South Korea is set to hit an all-time high this year, signaling an increased adoption among homeowners.  Reverse mortgages, available to individuals over 55, allow homeowners to secure a loan against their property to [...]

Foreign Investors Continue Purchasing Korean Stocks for Third Consecutive Month in January, Fueled by Chip Sector Recovery Optimism

Foreign Investors Continue Purchasing Korean Stocks for Third Consecutive Month in January, Fueled by Chip Sector Recovery Optimism

SEOUL, Feb. 13 (Korea Bizwire) – Foreign investors scooped up Korean stocks in January for the third consecutive month on the back of hopes for a recovery in the chipmaking sector, central bank data showed Tuesday. Offshore investors bought a net US$2.51 billion worth of local stocks last month, following $2.52 billion worth of purchases [...]

Microsoft Surpasses Tesla as Top Overseas Stock Gifted by South Korean Investors Amid Tech Sector Surge

Microsoft Surpasses Tesla as Top Overseas Stock Gifted by South Korean Investors Amid Tech Sector Surge

SEOUL, Feb. 12 (Korea Bizwire) –Amidst strong performance in the technology sector that has propelled the U.S. stock market to new heights, Microsoft has emerged as the most popular overseas stock gifted by South Korean investors since the beginning of this year. According to an analysis by KB Securities, Microsoft topped the list of most [...]

Top 0.1% of Wage Earners in Seoul Averaged 1.4 Billion Won in 2022

Top 0.1% of Wage Earners in Seoul Averaged 1.4 Billion Won in 2022

SEOUL, Feb. 11 (Korea Bizwire) – The top 0.1 percent of wage earners in Seoul made an average of 1.4 billion won (US$1.05 million) in 2022, triple the amount earned by the same cohort in Gangwon Province, data showed Sunday. According to the data compiled by the National Tax Service and released by Rep. Yang [...]

Korea Exchange to List Samsung Asset Management’s First Obesity Treatment-Themed ETF

Korea Exchange to List Samsung Asset Management’s First Obesity Treatment-Themed ETF

SEOUL, Feb. 9 (Korea Bizwire) –The Korea Exchange announced on February 8 that it will list Samsung Asset Management’s KODEX Global Obesity Treatment TOP2 Plus Exchange Traded Fund (ETF) on the stock market on February 14. This fund marks the first obesity treatment-themed product in South Korea, investing in 10 global companies related to obesity [...]

Household Loans from Five Major Banks Extend Growth Streak for Ninth Consecutive Month in January

Household Loans from Five Major Banks Extend Growth Streak for Ninth Consecutive Month in January

SEOUL, Feb. 1 (Korea Bizwire) – Household loans extended by five major lenders in South Korea rose for the ninth consecutive month in January with the rate of increase also quickening from a month earlier, market sources said Thursday. Household loans extended by the five top lenders here added 2.9 trillion won (US$2.17 billion) from [...]

Parliament Initiates Committee to Collect Public Opinions on Pension Reform

Parliament Initiates Committee to Collect Public Opinions on Pension Reform

SEOUL, Jan. 31 (Korea Bizwire) – The National Assembly launched a committee Wednesday to gather public opinions on national pension reform in an effort to draw a bipartisan agreement on enhancing the financial stability of the system amid population aging. Revamping the national pension system is one of President Yoon Suk Yeol’s key agenda items [...]