Personal Finance Archives | Page 2 of 21 | Be Korea-savvy

Archive by category Personal Finance

Financial Regulator Vows Vigorous Crackdown on Naked Short Selling

Financial Regulator Vows Vigorous Crackdown on Naked Short Selling

SEOUL, Jan. 3 (Korea Bizwire) – The vice chief of South Korea’s financial regulator said Wednesday authorities will set up a computerized system to crack down on naked short selling, in a bid to promote a level playing field for stock investments. Kim So-young, vice chairman of the Financial Services Commission (FSC), said the country [...]

Record-breaking Foreign Net Purchases for Samsung Electronics

Record-breaking Foreign Net Purchases for Samsung Electronics

SEOUL, Jan. 1 (Korea Bizwire) –  Foreign investors’ net purchases of Samsung Electronics Co. stocks reached an all-time high last year on rising expectations of a recovery in the semiconductor industry, bourse data showed Monday. Offshore investors scooped up a net 16.7 trillion won (US$12.9 billion) worth of stocks of Samsung Electronics, the world’s largest memory [...]

Data Reveals Over 85,000 Foreigners Own Homes in South Korea

Data Reveals Over 85,000 Foreigners Own Homes in South Korea

SEOUL, Nov. 29 (Korea Bizwire) – Over 85,000 foreign nationals own a house in South Korea, with Chinese possessing more than half of real estate properties held by foreigners in the country, government data showed Wednesday. A total of 85,358 foreign nationals owned a house in South Korea as of end-June, up 4.6 percent from [...]

South Korean Working-Class Turn to High-Interest Revolving Loans as Banks Cut Lending

South Korean Working-Class Turn to High-Interest Revolving Loans as Banks Cut Lending

SEOUL, Nov. 10 (Korea Bizwire) – Working-class individuals in South Korea are finding themselves compelled to resort to revolving loans carrying an annual interest rate of 20 percent. This shift is a consequence of savings banks and card companies, typically the go-to sources for emergency funds among ordinary people, raising the bar for access to long-term [...]

LG Twins Fans Win Big with Shinhan Bank Savings Accounts

LG Twins Fans Win Big with Shinhan Bank Savings Accounts

SEOUL, Oct. 24 (Korea Bizwire) – The LG Twins have secured the regular season crown in the KBO League, marking their first pennant win in 29 years. Since their last championship in 1994, the Twins have ranked second several times but mostly remained a middle to lower-tier team.  After finishing as runners-up in the KBO pennant [...]

Foreign Investors Shift to Net Selling of South Korean Stocks for 15 Consecutive Sessions

Foreign Investors Shift to Net Selling of South Korean Stocks for 15 Consecutive Sessions

SEOUL, Oct. 15 (Korea Bizwire) – Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won (US$1.8 billion) on the benchmark Korea Composite Stock Price Index (KOSPI) from Sept. 18 to last Friday, according [...]

Rising Premiums, Stagnant Payouts: Challenges and Profits in Disaster Damage Insurance

Rising Premiums, Stagnant Payouts: Challenges and Profits in Disaster Damage Insurance

SEOUL, Oct. 10 (Korea Bizwire) – Recent statistics show that premiums paid by customers for storm and flood damage insurance, providing protection against weather-related disasters such as typhoons, floods, and earthquakes, have seen an increase. However, the claim payout rates offered by insurers have remained static. According to data presented by the Financial Supervisory Service (FSS) [...]

Share of Gifted Properties in Housing Transactions Falls Sharply

Share of Gifted Properties in Housing Transactions Falls Sharply

SEOUL, Oct. 10 (Korea Bizwire) – The share of gifted properties in the housing transaction market continues to decline. According to housing transaction statistics compiled by the Korea Real Estate Board on Sunday, the nationwide share of gifted properties in housing transactions was 6.8 percent in August, the lowest since June 2020 when the figure was [...]

Data Reveals 70 pct Greater Household Assets in Capital Areas Compared to Non-Metropolitan Regions

Data Reveals 70 pct Greater Household Assets in Capital Areas Compared to Non-Metropolitan Regions

SEOUL, Sept. 30 (Korea Bizwire) – Assets held by South Korean households in Seoul and the surrounding metropolitan areas were some 70 percent larger than those owned by households in the non-metropolitan regions, data showed Saturday. The average per-household assets in Seoul, the western city of Incheon and the surrounding Gyeonggi Province came to 692.46 [...]

Underage Landlords in Korea See 30% Income Growth Over 5 Years

Underage Landlords in Korea See 30% Income Growth Over 5 Years

SEOUL, Sept. 11 (Korea Bizwire) – A recent study has revealed a 30 percent surge in underage individuals earning income as landlords over the past five years. In 2021, a total of 3,136 underage landlords collectively generated 54.8 billion won in rental income, averaging 17.48 million won per person annually. This escalating trend of underage [...]