SEOUL, March 11 (Korea Bizwire) – Household loan growth at South Korean banks more than doubled in February from a month earlier on robust property transactions and solid demand for loans amid low interest rates, central bank data showed Wednesday. Household loans, which include mortgage lending, extended by local lenders reached 566 trillion won (US$503 [...]
Seoul, Mar. 4 (Korea Bizwire) — The Investment Corporation of Dubai (ICD) is talking with the city of Incheon to join a 3.6 billion dollar business town project called ‘Future City’ in Incheon’s Gumdan district. Incheon Mayor Yoo Jeong-bok accepted a letter from Khalifa Al Daboos, Deputy CEO of the IDC, on March 3 in Dubai. Gumdan Future City will [...]
SEOUL, Mar. 4 (Korea Bizwire) — Daishin Asset Management has announced the launch of its UBP Asia Consumer Fund, which will specialize in retail and consumer sectors targeting women, Chinese tourists, and customers looking for unisex goods, in collaboration with Swiss private bank UBP’s research analysts. The UBP Asia Consumer Fund’s portfolio will be composed of domestic [...]
SEOUL, Mar. 4 (Korea Bizwire) — Korea’s increasing FDI has resulted in the dissolution of 24,000 domestic high-quality jobs per year, according to a Hyundai Research Institute (HRI) report published on March 3. A researcher from the institute said that Korean companies need to invest at least 3.4 billion dollars annually in Korea to maintain its domestic [...]
SEOUL, Mar. 3 (Korea Bizwire) — The CEO of the massive Chinese investment firm Golden Group visited the city of Gyeongju on March 1 in order to weigh investment opportunities, said the city government on March 2. Golden Group’s delegation was welcomed by the city’s mayor Choi Yang-Sik, who suggested development opportunities such as a tourist complex planned [...]
SEOUL, Mar. 3 (Korea Bizwire) — Young Koreans are increasingly turning their eyes to Vietnam for job opportunities, as a staggering 4,063 Korean companies have a presence in South East Asian country, but to little avail, due to newly introduced regulations serving to narrow job opportunities for non-Vietnamese and promote job creation for Vietnamese nationals. Korean companies [...]
SEOUL, Feb. 27 (Korea Bizwire) — POSCO E&C has confirmed to have exposed illegal fundraising of about 10 billion won (US$ 9.1 million) by executive members of the company’s Vietnam branch, on February 26. Judicial authorities are likely to launch a formal investigation, since Prime Minister Lee Wan-goo has ordered further examination of the case. The company [...]
SEOUL, Feb. 20 (Korea Bizwire) — In 2014, 46 Korean children earned more than 100 million won (US$ 90,000) from their stock holdings, according to research firm FnGuide. These children are sons and daughters of CEOs and executives of Korean companies, and the richest of them all is the eleven-year-old daughter of Park Jin-Ho, CEO of Daebong [...]
SEOUL, Feb. 15 (Korea Bizwire) – More than 90 percent of South Koreans believe the country’s economy has entered a state of depression, a survey showed Sunday, with many expecting current conditions to persist down the road. In a nationwide survey of 800 people over the age of 19, 93.9 percent of the respondents said [...]
SEOUL/SEJONG, Feb. 9 (Korea Bizwire) – South Korea’s tax earnings from the country’s 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation. Official data by Financial Supervisory Service (FSS) and corporate tracker Chaebul.com said the business groups [...]