SEOUL, Nov.16 (Korea Bizwire) – The Small and Medium Business Administration (SMBA) has announced that it will allow venture funds to invest directly in intellectual property rights to meet the demand, and to encourage small and medium businesses to use their intellectual property. Previously, investments from venture funds were restricted to company shares and business [...]
SEOUL/SEJONG, Nov. 13 (Korea Bizwire) – South Korea is engaged in a “partnership strengthening” endeavor with the Asian Infrastructure Investment Bank (AIIB) that can assist the mega institution in successfully engaging in future development projects, a senior official said Friday. Vice Finance Minister Joo Hyung-hwan said in a conference hosted by the Korea Chamber of [...]
SEOUL, Nov. 12 (Korea Bizwire) – South Korean stocks closed slightly lower Thursday as investors took to the sidelines ahead of top Fed officials’ remarks that could provide a glimpse of the U.S. central bank’s monetary policy direction, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price [...]
SEOUL, Nov. 9 (Korea Bizwire) – With share prices in the Korean pharmaceutical industry hitting all-time highs, the seven grandchildren of Lim Sung-gi, CEO of Hanmi Pharmaceutical Co., have each became stock billionaires with holdings of approximately 100 billion won each. According to Chebul.com, Lim’s twelve-year-old grandson received shares of affiliated companies including Hanmi Science, [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korean banks’ lending to large companies fell in the first nine months of the year amid a protracted economic slump, despite an upturn in overall loans, industry data showed Monday. Outstanding loans extended by Shinhan Bank, Kookmin Bank and four other major lenders reached 1,035.85 trillion won (US$898.6 [...]
SEOUL, Nov. 9 (Yonhap) – The exchange traded notes (ETN) market in South Korea has grown exponentially since its debut on the local stock market a year ago on the back of robust demand for less risky investment, the country’s main bourse operator said Monday. The average daily turnover of ETNs reached 42.1 billion won [...]
SEJONG, Nov. 5 (Korea Bizwire) – South Korea plans to issue yuan-denominated foreign exchange stabilization bonds in China to better meet rising demand for the Chinese currency and help local firms do business in the world’s No. 2 market, a government source said Thursday. According to the source in the finance ministry, the government submitted [...]
SEOUL, Oct. 30 (Korea Bizwire) – On the first day of Korea’s new ‘account transfer system’, users showed much interest. The Payinfo site where the service is provided even went down after being flooded with traffic. According to the Korea Financial Telecommunications and Clearings Institute, the number of connections as of 3 p.m. reached 159,205, [...]
Samsung Electronics has announced that its Samsung Pay mobile payment system now has more than one million subscribers, only two months after its launch. (Image : Yonhap) SEOUL, Oct. 26 (Korea Bizwire) – Samsung Electronics has announced that its Samsung Pay mobile payment system now has more than one million subscribers, only two months [...]
SEOUL, Oct. 26 (Korea Bizwire) - More than 20 percent of South Korean conglomerates’ affiliates were found to be unprofitable and highly indebted last year, market data showed Monday, a revelation that comes amid the government’s push to prevent any fallout on the economy from their sudden collapse. The number of “zombie companies,” which can’t generate [...]