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 [...]
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 [...]
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 [...]
SEOUL, Sept. 8 (Korea Bizwire) — On Thursday, Kasa, a real estate securities trading platform, announced that the subscription rate for its seventh public offering building, ‘Apgujeong Commerce Building,’ exceeded 56 percent on the first day of the public offering. On Wednesday, the initial day of the public offering, the company raised 9.4 billion won [...]
SEOUL, Sept. 7 (Korea Bizwire) —Mirae Asset Securities announced on Wednesday the inclusion of two prominent entities, Studio Genius, a domestic content production company, and Solaire Partners, an investment firm, in the Security Token Working Group. This collaborative effort aims to advance the commercialization of tokenized securities linked to film and drama investment ventures. Studio [...]
SEOUL, Aug. 31 (Korea Bizwire) — Real wages, after adjusting for inflation, experienced a decline of 1.5 percent year-on-year during the first half of the current year, as revealed by a recent survey. This marks a significant turning point since 2011 when the Ministry of Employment and Labor expanded its survey coverage to encompass “enterprises [...]