SEOUL, Jan.29 (Korea Bizwire) – Two leading tech giants, Apple and Facebook, seem to be in different leagues given their recent performance. With demand for smartphones on the wane, industry watchers even predicted a quarter of negative growth for Apple. On the other hand, Facebook is performing far better than market expectations. On January 27, [...]
SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]
SEOUL, Jan. 27 (Korea Bizwire) – The number of people working for South Korea’s top 30 major business groups has increased 17 percent over the past five years, well higher than the average rise of 13 percent for the corporate sector, industry data showed Wednesday, indicating that the conglomerates helped ease the country’s prolonged labor [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korea’s top 10 business groups saw the market value of their listed affiliates plunge this year mainly due to increased overseas volatility, data showed Tuesday. The combined market capitalization of their listed companies came to 721.99 trillion won as of Monday, down 4.49 percent from 755.93 trillion won [...]
SEJONG, Jan. 26 (Korea Bizwire) – South Korea’s finance minister asked government ministries and agencies on Tuesday to make all-out efforts to frontload their budget spending in the first quarter to preemptively cope with rising economic uncertainties at home and abroad. “The government is pushing forward with the frontloading of fiscal spending in the first [...]
SEJONG, Jan. 18 (Korea Bizwire) – South Korea’s finance minister called Monday for preemptive measures to block any fallout from economic uncertainties including a Chinese slowdown. “Earlier than expected, external downside risks stemming from China are drawing nearer,” Finance Minister Yoo Il-ho was quoted as telling a meeting of senior ministry officials. “We have to [...]
SEOUL, Jan. 15 (Korea Bizwire) -South Korea’s finance minister and the central bank chief agreed Friday to strengthen cooperation in managing economic and monetary policies in a bid to tide over current challenges at home and abroad. At their first meeting since Finance Minister Yoo Il-ho took office on Wednesday, Yoo and Bank of Korea [...]
SEOUL, Jan. 13 (Korea Bizwire) – The State Bank of India (SBI), the southern Asian country’s No. 1 commercial bank, said Wednesday it opened a branch in Seoul in line with growing exchanges between the two nations. The branch, located in downtown Seoul, is the Indian bank’s first in South Korea, though the institution set [...]
SEOUL, Jan. 13 (Korea Bizwire) – South Korea’s new finance minister and the central bank chief will have their first meeting later this week to share their views on the economy in the face of falling oil prices and a Chinese rout, the Bank of Korea (BOK) said Wednesday. Finance Minister Yoo Il-ho, who took [...]
SEJONG, Jan. 12 (Korea Bizwire) – South Korea’s tax revenue rose sharply on-year in the first 11 months of 2015 thanks to higher cigarette prices and increased real estate transactions, the finance ministry said Tuesday. In the January-November period, the government collected some 206.2 trillion won (US$171 billion) in taxes, up 16.8 trillion won from [...]