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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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) [...]
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 [...]