SEOUL, Sept. 20 (Korea Bizwire) — A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt, data showed Sunday. The number of listed companies that logged pre-tax operating loss last year amounted to 541 companies, or 31.1 percent of the total, according to corporate [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korea’s exports to Vietnam have jumped this year despite a slump in other overseas markets, industry data showed Tuesday, prompting local firms to rush to strengthen business ties with their Southeast Asian counterparts. In the first seven months of the year, exports to Vietnam surged 29.9 percent on-year, emerging [...]
SEOUL, Sept. 14 (Korea Bizwire) – Samsung and Hyundai Motor groups slashed their cash reserves in the first half of the year, while other major conglomerates increased their cash piles, data showed Sunday. Listed affiliates of Samsung Group, South Korea’s top family-controlled conglomerate, had a combined 40.5 trillion won (US$34.1 billion) in cashable assets as [...]
SEOUL, Sept. 4 (Korea Bizwire) — Nearly half of South Korea’s top businesses are expected to see their sales shrink this year due to a global economic slowdown and weak domestic demand, market observers said Friday. According to market analysts, only 56 percent of the country’s 300 largest firms by stock market capitalization are expected to [...]
SEOUL, Sept. 2 (Korea Bizwire) — Financial assets of Korean households have turned out to be very low compared to other countries. Experts say that the phenomenon is due to the Korean household practice of having most major assets concentrated on real estate. According to the Korea Financial Investment Association, the portion of financial assets held [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s tax revenue growth has failed to keep up with its economic expansion, a lawmaker said Wednesday, calling for the “normalization” of the country’s corporate income taxes. Citing a report by the National Assembly Budget Office, Rep. Park Kwang-on of the main opposition New Politics Alliance for Democracy said [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s state-run pension fund has suffered heavy valuation losses from its investment in two Samsung Group units over the past two months as the stocks have plunged after their merger plan was approved by shareholders last month, data showed Wednesday. The National Pension Service (NPS) — which holds [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s major business groups prefer retired public officers as outside directors, data showed Wednesday, in a widespread practice to expand their network in the government. According to corporate researcher CEO Score, 38.6 percent of 609 outside directors serving at 187 listed firms affiliated with the nation’s top 30 [...]
SEOUL, Aug. 24 (Korea Bizwire) — Fears of a slowdown in the Chinese economy sent shockwaves across global financial markets on Monday, leaving South Korean exporters jittery over their future performance as they rely heavily on the world’s second-largest economy, experts said. China’s Shanghai Composite Index tumbled 8.49 percent on Monday as investors dumped shares [...]
SEOUL, Aug. 19 (Korea Bizwire) – Korea’s second quarter economic growth has turned out to be much lower than expected. Even countries going through economic difficulties showed a higher growth rate than Korea. There are concerns that if the Korean economy stays this way, the country might become a bit player in global competition. According [...]