SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — A former head of South Korea’s financial regulator has been appointed as the country’s representative tasked with promoting its economic and financial standing, the foreign ministry said Friday. Choi Jong-ku, a veteran technocrat and a former chairman of the Financial Services Commission (FSC), will serve as the ambassador-at-large for [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s demand for hydrogen fuel in the mobility sector jumped 64 percent in 2024 from a year earlier, driven by the increasing number of hydrogen buses in the country, data showed Friday. The country’s hydrogen fuel demand in the mobility sector reached 9,499 tons this year, compared with [...]
SEOUL, Dec. 27 (Korea Bizwire) — Shinsegae Group has announced a strategic partnership with China’s Alibaba Group, forming a joint venture to bolster its position in South Korea’s highly competitive e-commerce market. The new entity, “Grand Opus Holding,” will launch in 2025 with equal ownership between Shinsegae and Alibaba’s international subsidiary. The partnership integrates Shinsegae’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — The government and the ruling People Power Party (PPP) agreed Friday to provide 11.6 trillion won (US$7.86 billion) next year to stabilize consumer prices and ease the financial burden on low-income households. The two sides made the agreement during a consultative meeting among government officials, PPP lawmakers and private [...]
SEOUL, Dec. 27 (Korea Bizwire) — The futuristic Tesla Cybertruck has officially made its debut in South Korea, with renowned singer Kim Junsu receiving the country’s first fully registered vehicle, sparking widespread attention online. On December 26, multiple online forums and blogs celebrated the arrival of the Cybertruck, described as “South Korea’s first officially delivered Cybertruck.” [...]
SEOUL, Dec. 26 (Korea Bizwire) —In the ever-evolving economic landscape of South Korea, Millennials—those born in the 1980s—have emerged as a cornerstone of the nation’s financial vitality. According to a new report from Woori Financial Group, this generation is navigating a delicate balance between robust earnings, strategic investments, and cautious spending, all while reshaping economic [...]
SEOUL, Dec. 26 (Korea Bizwire) – As global competition in advanced industries intensifies, more than half of South Korean companies in cutting-edge sectors, including biotechnology, batteries, and semiconductors, view the country’s regulatory environment as excessively stringent compared to international competitors. A survey conducted by the Korea Chamber of Commerce and Industry (KCCI) among 433 companies [...]
SEOUL, Dec. 26 (Korea Bizwire) – South Korean venture companies collectively achieved over 240 trillion won ($165 billion) in sales last year, ranking third among the nation’s top corporate groups, according to data released on December 25 by the Ministry of SMEs and Startups. This places them behind only Samsung Group (295 trillion won) and [...]
SEOUL, Dec. 26 (Korea Bizwire) — Insurance payouts for small business closures in South Korea have reached a historic high of 1.3 trillion won in 2024, reflecting the deepening impact of the economic slowdown, according to the Korea Federation of SMEs. The federation reported on December 25 that payments under the “Yellow Umbrella” business closure insurance [...]