SEOUL, Jan. 28 (Korea Bizwire) — Investors are pouring a large amount of money into funds that invest in U.S. stocks on hopes that President Donald Trump’s “America First” policy would help further boost the U.S. stock market, data showed Tuesday. According to the data from market tracker FnGuide, 167 funds that invest in U.S. [...]
SEJONG, Jan. 27 (Korea Bizwire) — The average South Korean worker received approximately 10.69 million won in bonuses last year, while the top 0.1% of earners collected bonuses exceeding 620 million won, highlighting significant income disparities in the workforce, according to new government data. Figures released by the National Tax Service and obtained by People Power [...]
SEOUL, Jan. 26 (Korea Bizwire) — The South Korean won experienced its steepest decline in real effective exchange rate (REER) in over two years last December, following political instability that shook financial markets. According to data released by the Bank for International Settlements (BIS) on January 26, South Korea’s REER index stood at 91.03 (2020=100) at [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s stock market extended its winning streak last week, buoyed by investor relief over a tempered approach from the second Trump administration, which had raised fears of aggressive trade policies. The KOSPI index climbed 13.25 points (0.52%) to close at 2,536.80, marking its fifth straight weekly gain — a [...]
DAVOS & SEOUL, Jan. 22 (Korea Bizwire) — A majority of global CEOs are optimistic about economic growth in the year ahead, according to a new survey by PwC presented at the World Economic Forum in Davos, Switzerland. The survey, which polled 4,701 CEOs across 105 countries, found that 58% expect global economic expansion in [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s economic growth could stagnate at around 1% if political instability continues, warns a report by the Hyundai Research Institute. Released on Sunday, the report highlights both domestic and international risks weighing on Asia’s fourth-largest economy, which is already grappling with weakening market confidence. Political and Economic Pressures Domestically, [...]
SEOUL, Jan. 20 (Korea Bizwire) — The Bank of Korea (BOK) said Monday its outlook for South Korea’s economic growth this year may be lowered to as low as 1.6 percent due to a political crisis sparked by suspended President Yoon Suk Yeol and weak domestic demand. The BOK had presented 1.9 percent growth outlook [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korea’s economy is grappling with deeper-than-expected shocks stemming from President’s declaration of martial law on December 3, 2024, according to a new analysis from the Bank of Korea (BOK). The political instability has forced the central bank to reconsider its economic growth projections for both 2024 and 2025, raising the [...]
SEOUL, Jan. 16 (Korea Bizwire) — For the first time since the 1997-1998 Asian financial crisis, South Korea’s imported car market has experienced a two-year consecutive decline in sales. According to the Korea Automobile Importers & Distributors Association (KAIDA) on January 15, the number of newly registered imported passenger vehicles in 2024 totaled 263,288 units, marking [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea continues to face mounting dining costs for the third consecutive year as high inflation, currency volatility, and rising interest rates drive food prices upward. From popular dining options to workplace cafeterias and convenience store meals, prices have surged, intensifying the so-called ‘lunchflation’ phenomenon. According to data from Statistics [...]