SEOUL, March 29 (Korea Bizwire) – South Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday. The card-based expenditure reached 667.1 trillion won (US$572 million) in 2015, up from 613.2 [...]
SEOUL, March 25 (Korea Bizwire) – South Korea’s per capita income dropped in 2015 from the previous year, marking the first on-year drop in six years even though the decline was largely attributed to the depreciation of the local currency against the U.S. dollar. In 2015, the country’s per capita gross national income (GNI) came to [...]
SEOUL, March 25 (Korea Bizwire) – Netmarble Games, South Korea’s No. 1 mobile game developer and publisher, is expected to seek listing on the country’s main bourse instead of on the tech-heavy KOSDAQ or overseas, sources said Friday. The company’s market capitalization is estimated at approximately 10 trillion won (US$8.57 billion), putting it nearly on par [...]
SEOUL, March 23 (Korea Bizwire) – Government officials have announced the adoption of a new electronic bond system. Using the new method, ownership can change hands without any the completion of any physical paperwork, as the securities are electronically registered. The Korea Securities Depository (KSD) announced that the bill regarding electronic registration of securities and bonds [...]
SEOUL, March 23 (Korea Bizwire) – South Korea’s top asset manager Mirae Asset Financial Group said Wednesday it will not bid for Hyundai Securities Co. to focus on completing its latest takeover deal, leaving KB Financial Group and Korea Investment Holdings Co. as strong candidates in the final auction scheduled for this Friday. Mirae Asset has [...]
SEJONG, March 22 (Korea Bizwire) – Global rating agency Moody’s Investors Service said Tuesday that it maintains its rating on South Korea at a record high of Aa2, citing its sound economic fundamental and reduced vulnerability to external risks, with its rating outlook also remaining stable. But the escalating tension stemming from North Korea’s recent provocations [...]
SEOUL, March 21 (Korea Bizwire) - Mirae Asset Securities Co. is considering joining a bid to take over Hyundai Securities, industry sources said Sunday. Emboldened by the acquisition of Daewoo Securities from Korea Development Bank, Mirae may join hands with LK Investment Partners, a local private equity fund (PEF). If realized, it would jolt the competition that has [...]
SEOUL, March 15 (Korea Bizwire) – South Korean conglomerates are considering revealing their key management decisions and other information in English to better communicate with foreign investors and help with their investment decisions, industry sources said Tuesday. On Monday, the Korea Exchange (KRX) said it will ask some 170 companies listed on the country’s main bourse, [...]
SEOUL, March 10 (Korea Bizwire) – After witnessing the future of robots and artificial intelligence (AI) when pro Go player Lee Se-dol lost the first Go match to AlphaGo, robot-related stock prices are showing signs of ascent. DST Robot, a manufacturer listed on KOSDAQ, saw its share price rise to the limit of 6,520 won during [...]
SEOUL, March 8 (Korea Bizwire) – Lotte Confectionery Co., a food unit that stands at a critical position in the cross-shareholding structure, plans to conduct a 10-for-1 stock split to boost trading among retail investors. According to the Korea Exchange and finance, investment industry, the board of directors of Lotte Confectionery decided to cut the face value [...]