SEOUL, May 22 (Korea Bizwire) – South Korea’s top central banker on Friday raised worries over bleak job market prospects for the younger generation in the coming years as the country is ready to extend the retirement age to 60 next year, echoing recent policy efforts aimed at revving up structural reform. “Employment is a [...]
“The lawsuit is very important, partly because of the amount of money. And mainly because it can be a barometer of Korea’s financial openness. The Korean government will show that it is taking transparent and legal action in dealing with the issue. We are doing so under the principle of due process without procedural problems. [...]
SEJONG, May 12 (Korea Bizwire) — South Korea’s major economic indicators are showing signs of slow improvement, signaling the economy is pulling out of a funk during the fourth quarter of last year, the finance ministry said Tuesday. The ministry, however, cautioned that Asia’s fourth-largest economy remains gripped by such external uncertainties as a weak Japanese [...]
SEOUL, May 11 (Korea Bizwire) — South Korea’s sovereign wealth fund said Monday it has logged a cumulative US$14.7 billion in investment profit as of the end of last year following its establishment in 2005. Its overall return on investment reached 10 percent last year, while its annual return on investment in the past five [...]
SEOUL, May 7 (Korea Bizwire) — China became South Korea’s second-largest investment destination last year, relegating the European Union (EU) to the third spot, central bank data showed Thursday. South Korea’s external investment, which includes stocks and bonds, reached US$716.6 billion at the end of last year, up $95.5 billion from the previous year, according to [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s monthly current account surplus rose to a four-month high in March, extending its surplus streak to a 37th straight month, data showed Monday. The current account surplus hit US$10.39 billion in March, nearly doubling from a $6.44 billion surplus in the previous month, according to the provisional data [...]
SEOUL, April 28 (Korea Bizwire) – South Korea’s top central bank said Tuesday the country’s economic recovery is gaining momentum despite external risks but stressed that structural reform is necessary for long-term growth. Bank of Korea (BOK) data released last week showed that the country’s gross domestic product (GDP) grew 0.8 percent on-quarter in the first three [...]
SEOUL, April 20 (Korea Bizwire) – Korea’s two largest business groups, Samsung Group and Hyundai Motor Group, accounted for a significant portion of the net profits of the top 30 groups in Korea, by generating more than four fifths of their total earnings. Korea generally categorizes the top 30 business groups as representing the Korean economy, [...]
WASHINGTON, Apr. 17 (Korea Bizwire) — South Korea will take additional stimulus measures in the second half of 2015 if the need arises to prop up the slowing economy, the nation’s economic czar has said. Finance Minister Choi Kyung-hwan, who is in Washington to attend a G20 ministerial meeting, made the remarks in an interview [...]
SEOUL, March 30 (Korea Bizwire) — South Korea banks and other financial companies have hired former government officials to fill some 30 percent of outside director positions, industry data showed Monday, amid criticism that outside directors are not living up to their roles. According to the data compiled by CEO Score, the number of outside [...]