SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s publicly offered overseas investment funds are regaining popularity among local investors, data showed Friday, as they seek tax benefits and higher returns. According to the data by the Korea Financial Investment Association, the combined net worth of such funds came to 39.4 trillion won (US$34.9 billion) as [...]
SEOUL, Sept. 6 (Korea Bizwire) – Average incomes for dual-income and single-income households between April and June, at 5.47 million won and 3.69 million won, respectively, are the closest they have been since the fourth quarter of 2015 (October through December) according to figures provided by Statistics Korea. Dual-income households earned only 1.48 times what [...]
SEOUL, Aug. 28 (Korea Bizwire) — The Bank of Korea submitted a report to the Strategy and Finance Committee of the National Assembly today in which it predicted that this year’s economic growth would fall short of 3 percent despite the improving global economy and supplementary revisions made to the national budget. The central bank [...]
SEOUL, Aug. 1 (Korea Bizwire) — The number of people in South Korea with financial assets worth more than 1 billion won (US$892,295) rose 14.8 percent on year to 242,000 last year, thanks to the robust stock market, a report showed Tuesday. According to the annual survey by KB Financial Group Inc.’s research institute, people [...]
SEOUL, Jul. 26 (Korea Bizwire) — On July 25, Statistics Korea released its findings on the labor market for the elderly (ages 55 to 79). Titled “Results of Supplementary Research on the Elderly Labor Market for May, 2017”, the report contains extensive insight into the elderly population’s general work history, pensions, and attitudes towards work [...]
SEOUL, Jul. 24 (Korea Bizwire) — A decision to allow business owners and government employees to access Individual Retirement Plans (IRP) has the financial services industry abuzz. On the July 23, industry sources confirmed that the IRP’s current parameters for applicable clients will be expanded starting July 26. The reason for general excitement among banks, [...]
SEOUL, Jun. 30 (Korea Bizwire) — Eight out of ten low-income, middle-aged and elderly people between the ages of 38 and 63 will likely face an uncertain financial future after retirement without a private pension or retirement pension, let alone the national pension, even after they turn 65. This forecast is based on an audit [...]
SEOUL, Jun. 30 (Korea Bizwire) — As stock markets of emerging Asian countries rallied this year, Indian funds yielded profits of more than 20 percent on average, outperforming other overseas equity funds. Healthcare funds and Chinese funds also performed well, but Russian and Brazilian funds dropped in value. On February 28, fund rating firm KG [...]
SEJONG, Jan. 29 (Korea Bizwire) – Crowdfunding fared well last year when the idea of raising money from a large number of people made its debut in Korea. The success rate in funding through this alternative way of raising money reached nearly half of overall funding rounds with about 18 billion Won being raised. According [...]
SEOUL, Jan. 29 (Korea Bizwire) – A corporate tracker said Friday that the number of people aged under 30 whose shareholding value surpassed 10 billion won (US$8.5 million) came to 52. Chaebul.com said the combined shareholding value of the 52 people stood at more than 1.7 trillion won. On average, the individual shareholding value [...]