SEOUL, Feb. 22 (Korea Bizwire) – South Korea’s short-term foreign debt rose 0.8 percent in 2016 from a year earlier, central bank data showed Wednesday. The country’s short-term external debt, with a maturity of one year or less, totaled US$105.2 billion as of the end of 2016, up $800 million from the end of 2015, [...]
SEOUL, Feb. 21 (Korea Bizwire) – The local stock market is struggling to attract young investors amid prolonged economic hardships, a record high youth unemployment rate, and an increasing number of “house poor” individuals and families. Besides the fact that the benchmark Korea Composite Stock Price Index (KOSPI) has hovered in the same 1,850 – [...]
SEOUL, Feb. 8 (Korea Bizwire) – Ticket Monster, South Korea’s leading social commerce company, announced Tuesday the launch of a comparative website dubbed T-Mon Finance Mall (translated), which allows customers to compare some 5,800 on and offline financial products from 220 companies. The products available include credit cards, insurance, loans, bank accounts, installment savings, and [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea’s state pension fund plans to invest nearly 10 trillion won (US$8.8 billion) in top-cap Samsung Electronics and other domestic stocks this year, a senior official said Tuesday, sparking hopes it could help boost the local stock market. The planned investment would raise stock investments by the National [...]
SEOUL, Feb. 6 (Korea Bizwire) – The total value of South Korean stocks under foreign ownership has exceeded 500 trillion won (US$440 billion) for the first time on indications of a global economic recovery and improved earnings by some local giants, data showed Monday. Foreign investors owned 501.9 trillion won worth of shares here as [...]
SEOUL, January 30 (Korea Bizwire) – Digital disruption and cutthroat competition are shaking up the banking industry, with thousands of employees making the transition away from financial services jobs that were long considered as some of the most lucrative in Korea. The emergence of the fintech revolution leaves the prospects for the banking industry uncertain. [...]
SEJONG, Jan. 29 (Korea Bizwire) – Crowdfunding fared well last year when the idea of raising money from a large number of people made its debut in Korea. The success rate in funding through this alternative way of raising money reached nearly half of overall funding rounds with about 18 billion Won being raised. According [...]
SEOUL, Jan. 30 (Korea Bizwire) – The sales of non-life insurance products via the Internet soared last year, as local insurance firms rushed to roll out cheap and online-only products to woo customers, data showed Monday. According to the General Insurance Association of Korea, local non-life insurance companies raised a total of 1.4 trillion won [...]
SEOUL, Jan. 29 (Korea Bizwire) – A corporate tracker said Friday that the number of people aged under 30 whose shareholding value surpassed 10 billion won (US$8.5 million) came to 52. Chaebul.com said the combined shareholding value of the 52 people stood at more than 1.7 trillion won. On average, the individual shareholding value [...]
CHEONGJU, South Korea, Jan. 25 (Korea Bizwire) – The Korean Lunar New Year holiday starts Friday, and it usually means good news for children and young adults who visit their grandparents, aunts, and uncles for a bow in exchange for “lucky money”, cash gifts handed out as a token for a fruitful New Year. A [...]