SEOUL, Dec. 28 (Korea Bizwire) – South Korean Bitcoin investors have been left fuming after the government hinted at shutting down cryptocurrency exchanges, with some threatening to stage a guerrilla protest in Seoul. The government’s U-turn on cryptocurrency, which could see exchanges and accounts banned in the future, has taken many by surprise, with some [...]
SEJONG, Dec. 26 (Korea Bizwire) – South Korea’s key industries, including the auto and shipbuilding sectors, suffered a sharp drop in exports last year, but the country logged a decent trade surplus due to a dip in oil prices, data showed Tuesday. According to the data compiled by Statistics Korea, the country’s exports reached US$494.3 [...]
SEOUL, Dec. 22 (Korea Bizwire) – South Korea will issue its non-professional employment visa to 56,000 foreign workers next year, the same figure set for this year’s quota, government officials said Friday. The government committee on foreign workforce policy finalized its plan for the 2018 E-9 visa quota during its 25th session presided over by [...]
SEOUL, Dec. 22 (Korea Bizwire) – SK Holdings is increasingly pursuing shareholder-friendly polices, including an e-voting system, in a move to improve shareholder value and help satisfy all the interested parties including customers, stockholders and society. According to SK Holdings, a plan to introduce an electronic voting system next year was passed during a board [...]
SEJONG, Dec. 21 (Korea Bizwire) – South Korea’s exports rose 16.4 percent on-year during the first 20 days of December, on the back of a rise in shipments of ships and semiconductors, data showed Thursday. A total of goods worth US$31.5 billion were shipped overseas in the period, according to the data from the Korea Customs [...]
SEOUL, Dec. 21 (Korea Bizwire) – The Financial Supervisory Services has announced the development of a risk assessment system to measure how protected the South Korean financial industry is from economic slumps and interest rate fluctuations. The new system named STARS-Ⅰ, which stands for the stress test for assessing the resilience and stability of a financial [...]
SEOUL, Dec. 20 (Korea Bizwire) – Financial authorities will ramp up efforts to crack down on moneylenders targeting young people and seniors from next year. According to the Financial Services Commission (FSC), a special task force will be launched as part of a joint effort with the Ministry of the Interior and the Seoul Metropolitan Government [...]
SEOUL, Dec. 20 (Korea Bizwire) – The Fair Trade Commission launched on-site inspections of cryptocurrency exchanges Wednesday to see if they comply with consumer-related laws, the government said Wednesday. The three-day inspections follow up on an earlier package of steps aimed at curbing cryptocurrency speculation and crimes. The measures came a day after one such [...]
SEOUL, Dec. 19 (Korea Bizwire) – SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Tuesday that it has received US$10 million in dividends from Eureka Midstream, a U.S. midstream energy company. SK Holdings said the profit is a dividend for the fourth quarter of 2017 and said [...]
SEOUL, Dec. 19 (Korea Bizwire) – The South Korean central bank will take a more prudent stance on tightening its monetary policies in the future by checking the pace of economic recovery and inflation pressure, minutes from the latest rate-hike meeting showed Tuesday. The Bank of Korea’s (BOK) monetary policy board meeting for November raised [...]