SEOUL, Nov. 16 (Korea Bizwire) – South Korean individual investors’ net purchases of overseas stocks reached a new high for a half-month period in November, driven by their aggressive investment patterns, officials said Sunday. Local investors bought a net US$3.63 billion worth of foreign stocks in the first 14 days of this month, more than [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s National Pension Service (NPS) plans a sweeping overhaul of its emergency loan program for seniors, known as the Silver Loan, aiming to improve convenience and ensure that aid reaches those most in need. According to a briefing the NPS submitted to the National Assembly’s audit at the [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s venture investment market showed clear signs of recovery this year, with both venture investments and fund formation rising by double digits through the third quarter, government data showed Thursday. According to the Ministry of SMEs and Startups, total venture investment reached 9.8 trillion won (US$7.1 billion) between January [...]
SEOUL, Nov. 13 (Korea Bizwire) — Forecasts for Samsung Electronics and SK hynix are soaring at an unprecedented pace, with analysts projecting that the two chipmakers could generate nearly half of all corporate operating profits on South Korea’s benchmark Kospi index next year, fueled by the global boom in artificial intelligence. According to financial data provider [...]
SEOUL, Nov. 12 (Korea Bizwire) — President Lee Jae-myung on Tuesday instructed his economic team to explore new tax benefits for long-term retail investors, separating them from large shareholders to encourage stable investment while avoiding controversy over tax breaks for the wealthy. During a Cabinet meeting at the presidential office in Yongsan, Lee asked Deputy Prime [...]
SEOUL, Nov. 12 (Korea Bizwire) — Morgan Stanley has sharply revised upward its outlook for South Korea’s two largest chipmakers, saying the global memory semiconductor rally is being powered by surging demand from artificial intelligence (AI) data centers and cloud providers. In a report titled “Memory: The Ultimate Pricing Power,” released Tuesday, the U.S. investment bank [...]
SEOUL, Nov. 10 (Korea Bizwire) — South Korea’s benchmark stock index fell below the 4,000 mark this week amid renewed concerns over an artificial intelligence (AI) bubble, leading to a surge in forced stock liquidations from margin accounts, industry data showed Sunday. According to the Korea Financial Investment Association, the value of forced sell-offs from unsettled [...]
SEOUL, Nov. 6 (Korea Bizwire) – Short-selling transactions rose to the highest in over two years when the South Korean stock market crashed earlier this week on artificial intelligence (AI) valuation concerns, industry data showed Thursday. On Wednesday, the country’s benchmark Korea Composite Stock Price Index (KOSPI) closed more than 2 percent lower, after once [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s top financial regulator has approved a new service that lets travelers invest leftover foreign currency from prepaid cards into overseas stocks, marking the latest step in its push to foster financial innovation. The Financial Services Commission (FSC) said Wednesday that it designated NH Investment & Securities and fintech [...]
SEOUL, Nov. 3 (Korea Bizwire) — South Korea’s National Pension Service (NPS) has achieved its highest-ever investment return this year, buoyed by a record-breaking rally in the local stock market that sent its annual yield soaring above 20 percent as of the end of October, according to industry sources. The fund’s assets under management have surpassed [...]