SEOUL, Dec. 16 (Korea Bizwire) — Finance Minister Choi Sang-mok reiterated Monday that uncertainties from the recent martial law debacle have eased following the impeachment of President Yoon Suk Yeol, emphasizing the country’s robust economic system. Choi made the remarks during the opening session of a regional economic forum in Seoul attended by domestic and [...]
SEOUL, Dec. 13 (Korea Bizwire) — Unionized workers of the state-run Industrial Bank of Korea (IBK) have voted to stage a general strike later this month over failed wage negotiations with the management, union officials said Friday. More than 80 percent of the unionized workers at the policy lender voted Thursday to stage a general [...]
SEOUL, Dec. 10 (Korea Bizwire) – The growth in South Korea’s employment insurance registrations reached its lowest point in nearly four years, highlighting a slowdown in the labor market as the country faces a range of economic headwinds. According to the Ministry of Employment and Labor, the number of regular employment insurance subscribers increased by [...]
SEOUL, Dec. 9 (Korea Bizwire) — The government is ready to deploy immediate market stabilization measures, including the injection of “value-up funds” into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the statement during an emergency meeting with top economic and financial officials, as South Korea grapples with the fallout from President Yoon [...]
SEOUL, Dec. 9 (Korea Bizwire) – Following President Yoon Suk Yeol’s shock declaration of martial law on December 3, foreign investors have initiated a significant withdrawal from South Korean financial institutions, marking a notable shift in international investment patterns in the country’s markets. The exodus appears driven by concerns that the financial sector could be particularly [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea is witnessing a steady shift toward transparent corporate governance as more conglomerates adopt holding company structures. However, concerns are mounting over indirect investments via overseas subsidiaries, potentially enabling unfair internal transactions and abuse of authority. According to the Fair-Trade Commission (FTC), 43 of the country’s 88 conglomerates [...]
SEOUL, Dec. 4 (Korea Bizwire) – In response to growing demand for obesity medications, Samsung Fire & Marine Insurance has launched health insurance products that cover high-cost obesity treatments, marking a significant development in the Korean health insurance market. These new plans offer coverage for GLP-1 class obesity medications, such as Wegovy and Saxenda, which [...]
SEOUL, Dec. 4 (Korea Bizwire) — Stock markets will open as usual Wednesday, the finance ministry said, following President Yoon Suk Yeol’s unexpected declaration of emergency martial law overnight, which was subsequently lifted. The decision was made during an emergency meeting held earlier in the day between Finance Minister Choi Sang-mok and top economic and [...]
SEOUL, Dec. 4 (Korea Bizwire) — The country’s top financial regulator said Wednesday that the authorities are ready to mobilize a 10 trillion-won (US$7 billion) stock market stabilization fund to reduce any market volatility in the midst of President Yoon Suk Yeol’s surprise decision to impose martial law, which was later lifted. “We are ready [...]
SEOUL, Dec. 3 (Korea Bizwire) – Samsung Electronics is facing declining representation in South Korea’s Exchange-Traded Fund (ETF) market, reflecting growing concerns about its position in the semiconductor industry, particularly regarding its competitive stance in High Bandwidth Memory (HBM) and artificial intelligence (AI) chip supply chains. According to financial data provider Yonhap Infomax, as of November [...]