SEOUL, March 20 (Korea Bizwire) – Shareholders of Amore Pacific Co., South Korea’s leading cosmetics firm whose share price is the most expensive in the country at more than 3 million won (US$2,678), approved a 10-for-1 stock split in a unanimous vote during their annual meeting on Friday, raising questions about who could be next. [...]
SEOUL, March 20 (Korea Bizwire) — Korean card companies are throwing themselves at Costco Korea in hopes of developing an affiliate partnership, as the company’s current agreement with Samsung Card ends in May. Costco’s corporate policy is to only have one card partnership agreement per country, and its affiliation with Samsung Card has been in place for [...]
SEOUL, March 20 (Korea Bizwire) — The popularity of professional indemnity insurance products is rapidly increasing in Korea. The size of the professional indemnity market, calculated as the overall sum of the original premiums, was 115 billion won (US$ 102.4 million) in 2008 and 140 billion won (US$ 124.7) in 2012. It has been growing at [...]
SEOUL, Mar. 18 (Korea Bizwire) — Shinhan Card is introducing a cash-back service for remaining reward points in situations where customers decide to withdraw their membership due to mistakes or faults in the company’s operation. The cash-back service is due to start on April 15. Korean credit card companies have been allowing their customers’ reward points to [...]
NEW YORK, Mar. 17 (Korea Bizwire) — Nasdaq announced that Global X Funds will list a new exchange-traded fund (ETF), The Global X SuperDividend® REIT ETF (Symbol: SRET), which will begin trading on The Nasdaq Stock Market today. “At a time of continued low interest rates, income-seekers are in need of alternative sources for yield,” [...]
NEW YORK and SYDNEY, Mar. 15, 2015 (Korea Bizwire) — Asia Pacific Stock Exchange (APX) and Nasdaq (Nasdaq:NDAQ), today announced that APX has gone live with its new trading platform powered by Nasdaq’s X-stream Trading technology, as well as Genium FIX to power its APeX(R) trading platform. The upgrade will strengthen the exchange’s technological performance [...]
SEOUL, March 14 (Korea Bizwire) – Cheil Industries Inc., the de facto holding company of South Korea’s top conglomerate, Samsung Group, decided Friday to make an investment of more than 400 billion won (US$356.2 million) this year instead of paying out a dividend. The decision came during the shareholders meeting earlier in the day, which [...]
SEOUL, Mar. 13 (Korea Bizwire) — Upon the Bank of Korea’s decision to cut its base rate to a record low 1.75 percent on March 12, the Korean property market is expected to be injected with new vigor. Park Hap-Soo, chief of Kookmin Bank’s real estate department, said that the effect of the central bank’s rate cut [...]
BOCA RATON, Fla., Mar. 12 (Korea Bizwire) — Orc, a global leader in trading technology, today announced they will expand coverage of Nasdaq markets to include Nasdaq Futures Inc. (NFX), the exchange group’s U.S.-based designated contract market (DCM), on its first day of trading. Through NFX, Nasdaq will expand its commodities business with futures and [...]
SEOUL, March 12 (Korea Bizwire) — South Korea’s central bank unexpectedly slashed the base rate to a record low of 1.75 percent on Thursday, putting efforts to shore up growth on top of concerns over persistent household debt growth. The rate cut is the first since October, when the Bank of Korea (BOK) brought down the [...]