SEOUL, Jan. 13 (Korea Bizwire) — The South Korean won experienced a sharp decline last month, mirroring the drop in Russia’s ruble amid ongoing conflict, according to recent data. This currency depreciation, driven by the December 3 martial law incident, has heightened concerns over inflation in a country heavily reliant on imports. As the high exchange [...]
SEOUL, Jan. 13 (Korea Bizwire) — The debt burden among South Korea’s self-employed in their 50s and 60s has surged to unprecedented levels, raising concerns over financial stability amid sluggish domestic demand and persistently high interest rates. According to data submitted by the Financial Supervisory Service (FSS) to Democratic Party lawmaker Lee Kang-il, as of November [...]
SEOUL, Jan. 10 (Korea Bizwire) — In 2024, the number of publicly listed companies on South Korea’s main stock exchange voluntarily disclosing sustainability reports rose by nearly 30%, reflecting growing awareness of environmental, social, and governance (ESG) principles. The Korea Exchange reported on January 9 that 204 companies listed on the KOSPI voluntarily released sustainability [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a significant healthcare reform initiative, the South Korean government announced plans to reclassify certain non-critical and uninsured medical treatments, including manual therapy, under a new “managed care” category that will require patients to pay over 90% of the costs. The policy change, unveiled at a public forum on healthcare [...]
SEOUL, Jan. 10 (Korea Bizwire) — The use of cashless payment methods, such as credit cards and digital wallets, has led to a record low number of counterfeit bills detected in South Korea last year, according to the Bank of Korea. In its report released on January 9, the central bank stated that only 143 counterfeit [...]
SEOUL, Jan. 9 (Korea Bizwire) — The volume of corporate bonds maturing in the first quarter of 2025 has risen sharply, marking a 27% increase compared to the same period last year. According to Yonhap Infomax on January 9, the total amount of general corporate bonds set to mature this quarter stands at ₩24.92 trillion, up [...]
SEOUL, Jan. 9 (Korea Bizwire) — A new study has revealed that individuals who have previously filed claims for private medical insurance not only visit hospitals more frequently but also spend more on outpatient care compared to those who haven’t filed claims. According to research published in the recent issue of the Korean Journal of Hospital [...]
SEOUL, Jan. 8 (Korea Bizwire) — South Korea’s National Health Insurance (NHI) system achieved a surplus for the fourth consecutive year in 2024, with its reserve fund reaching a record 29.7 trillion won, the National Health Insurance Service (NHIS) announced on January 7. In 2024, NHI revenue totaled 99 trillion won, while expenditures amounted to [...]
SEOUL, Jan. 8 (Korea Bizwire) — South Korea’s stock market stumbled on January 7 after Nvidia CEO Jensen Huang revealed at CES 2025 that the company’s new GeForce RTX graphics processing unit (GPU) will use DRAM supplied by Micron Technology, sidelining Samsung Electronics and SK Hynix. The announcement cooled investor sentiment, halting the recent rally that [...]
SEOUL, Jan. 3 (Korea Bizwire) — A credit rating agency has warned that South Korea could face downward pressure on its sovereign credit rating toward the end of the year due to the government’s decision to expand treasury bond issuance. While global credit rating agencies have indicated that political uncertainties, including martial law and impeachment proceedings, [...]