SEJONG, June 23 (Korea Bizwire) – South Korea’s tax revenue rose in the first four months of 2015 from a year earlier, helped by more taxes collected from businesses, the government said Tuesday. The finance ministry said it collected 78.8 trillion won (US$71.5 billion) in taxes in the January-April period, up 4.3 trillion won from the [...]
SEOUL, June 22 (Korea Bizwire) – Amidst the all-out-war between Samsung Group and American activist hedge fund Elliott over the planned merger between Samsung C&T and Cheil Industries, minor shareholders of Samsung C&T are seeking to exert their own influence by uniting. According to “Solidarity of Minor Shareholders of Samsung C&T,” an Internet community comprised of Samsung [...]
SEOUL, June 19 (Korea Bizwire) — The automobile, mobile phone and medical sectors are among the areas that could benefit a lot from a free trade deal with Central American countries as lower tariffs are expected to help them better compete with cheaper products imported from China and other countries, a report said Friday. Earlier, [...]
SEOUL, Jun. 18 (Korea Bizwire) — South Korea’s trade dependence on Japan has dropped to the lowest level in decades, apparently affected by their worsening diplomatic ties and the global economic slowdown, a report showed Thursday. According to the report by the Korea International Trade Association, South Korea’s trade with Japan during the January-May period [...]
“The outbreak of the respiratory illness is fueling uncertainties just when the domestic economy started gaining traction helped by (a) rise in consumption. The measures will be unveiled at the end of this month.” “The MERS outbreak has started to weigh down on consumer spending and other areas. Sales at department stores and large discount [...]
SEJONG, June 15 (Korea Bizwire) — South Korea posted a trade surplus for the 40th month in a row in May as imports dropped at a faster pace than exports, customs data showed Monday. According to the data by the Korea Customs Service (KCS), the country’s trade surplus reached US$6.3 billion last month, down from $8.53 [...]
SEOUL, June 11 (Korea Bizwire) – As the struggle between American hedge fund Elliott Associates and Samsung Group continues, local institutional investors find themselves in the difficult position of having to choose sides. Elliott’s argument that the proposed merger between Samsung C&T and Cheil Industries undervalues Samsung C&T and goes against the interests of shareholders is widely received, [...]
SEOUL, June 10 (Korea Bizwire) — The number of executives at South Korea’s conglomerates have declined in the first quarter, a report showed Wednesday, as many businesses here scrambled to cut back costs amid a protracted economic slowdown. The number of high-ranking executives at 268 firms affiliated with 30 local conglomerates stood at 10,486 in [...]
SEOUL, June 10 (Korea Bizwire) – The country’s first-ever outbreak of Middle East Respiratory Syndrome (MERS) is forecast to hinder economic growth as South Koreans scale back spending amid growing alarm over the viral respiratory illness, a report showed Wednesday. Morgan Stanley projected South Korea’s annual economic growth to fall by 0.15 percentage point if the MERS [...]
SEJONG, June 9 (Korea Bizwire) — Job creation by South Korean listed companies has plunged over the past four years as weak demand force them to scale back investment and hiring, data showed Tuesday. According to the data by Statistics Korea and market research FnGuide, listed companies offered some six jobs for every 100 positions [...]