SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — A former head of South Korea’s financial regulator has been appointed as the country’s representative tasked with promoting its economic and financial standing, the foreign ministry said Friday. Choi Jong-ku, a veteran technocrat and a former chairman of the Financial Services Commission (FSC), will serve as the ambassador-at-large for [...]
SEOUL, Dec. 26 (Korea Bizwire) — Insurance payouts for small business closures in South Korea have reached a historic high of 1.3 trillion won in 2024, reflecting the deepening impact of the economic slowdown, according to the Korea Federation of SMEs. The federation reported on December 25 that payments under the “Yellow Umbrella” business closure insurance [...]
SEOUL, Dec. 25 (Korea Bizwire) — South Korea’s cryptocurrency market has experienced a significant surge in investors, coinciding with the U.S. presidential election and growing optimism around President-elect Donald Trump’s pro-crypto policies. According to data submitted by the Bank of Korea to lawmaker Lim Kwang-hyun of the National Assembly’s Strategy and Finance Committee, the number of [...]
SEOUL, Dec. 25 (Korea Bizwire) — The South Korean government has introduced measures to limit the use of treasury shares by listed companies during corporate spin-offs, aiming to prevent misuse that could unfairly enhance major shareholders’ control. The Financial Services Commission (FSC) announced on December 24 that amendments to the Capital Markets Act Enforcement Decree, approved [...]
SEOUL, Dec. 25 (Korea Bizwire) — Taiwan’s stock market has emerged as the top performer among Asia-Pacific’s major indices in 2024, while South Korea’s benchmark Kospi index lags near the bottom, weighed down by domestic and global challenges. According to CNBC, Taiwan’s Taiex index surged 28.85% this year through December 23, leading gains among 11 key [...]
SEJONG, Dec. 23 (Korea Bizwire) — The government is set to swiftly deploy additional market stabilization measures, including the injection of the second phase of value-up funds worth 300 billion won (US$207 million) into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the remarks during an emergency meeting with top economic and financial [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s potential growth rate is projected to fall below 2% next year, signaling challenges for the nation’s long-term economic sustainability, according to a report released by the Bank of Korea (BOK) on December 19. Without structural reforms in labor markets, birthrate improvement, and increased workforce participation by women and [...]
SEOUL, Dec. 17 (Korea Bizwire) — The Bank of Korea (BOK) is developing an artificial intelligence-based early warning system to better prepare for potential risks, its chief said Tuesday. During an international forum in Seoul, BOK Gov. Rhee Chang-yong said the central bank had decided to actively invest in the AI-based financial forecast and warning [...]
SEOUL, Dec. 17 (Korea Bizwire) – The number of properties auctioned off due to loan defaults in South Korea is on track to hit its highest level in 11 years, reflecting the combined impact of soaring interest rates and a sluggish real estate market. Sharp Rise in Property Auctions Data from the Court Registration Information Plaza [...]